Step 2: Find out if anything will stop your bank from negotiating
So what allows you to get a lower interest rate?
- The bigger the loan, the lower the rate!
- Borrowing under 80% of the property value will get you a better rate with some lenders.
- Banks offer better deals on home loans than investment loans.
- Banks will offer a better rate to win a new customer which is why people refinance.
When will you pay a higher interest rate?
- Investment loans and interest only loans tend to have higher rates but some banks will still negotiate
- Some banks refuse to negotiate if you owe over 80% of the property value.
- Most banks will not negotiate the rate for low doc loans so it's often better to refinance.
- The bank may not have an appetite for your customer type, for example, if you're a non-resident, self-employed or you're a property investor.
- If you've missed payments on your debts, they'll refuse to negotiate so it's better to refinance.
- Banks don't offer their existing borrowers the best rates. They actually punish loyalty!
Do you need help to get a better interest rate? There are ways you can lower your repayment without refinancing. Give us a call on 1300 889 743 or fill in our free assessment form and our mortgage brokers will do the negotiating for you!
) [7] => stdClass Object ( [post_id] => 78510 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>At Home Loan Experts, we have mortgage brokers who are specialists in all niches. Plus, they’re legally obligated to act in your best interest. This means they’ll consider your financial situation and recommend loan products that are suitable for you. Our expert brokers regularly answer consumers’ most frequently asked questions about home loans. Check them out to get all the answers you need.
1. What Interest Rate Am I Eligible For, And What Is The Maximum Amount I Can Borrow?
The interest rates a lender will offer you and the amount you can borrow are affected by some of the same factors. Interest rates are affected by the official cash rate set by the RBA and each lender's own rates and lending policies. The stronger your home loan application, the better the rates lenders will offer you. The strength of your loan application is determined by how much deposit you can pay, your Loan-to-Value Ratio (LVR, the lower the better), what kind of credit rating you have, and other factors. How much you can borrow is also affected by the RBA’s decisions. The lender will assess your serviceability – your ability to repay the loan. Higher interest rates mean higher repayments and that means the more rates go up, the less you’ll be able to borrow. Other factors lenders will use to determine your serviceability include your credit history, income, expenses and other financial commitments. Check how much you can borrow through our borrowing capacity calculator.If you want to know how much money you can borrow from a certain lender, please get in touch with our mortgage brokers at 1300 889 743 or fill out our free assessment form.
2. What Government Grants Are Available? Can I Qualify For Any?
There are several government grants available to assist first-home buyers in Australia. As of 2023, some of the major national government schemes for first-home buyers include the Help to Buy Scheme, First Home Guarantee (previously known as First Home Loan Deposit Scheme), Family Home Guarantee, Regional First Home Buyer Support Scheme, and the First Home Super Saver Scheme. Eligibility for these schemes can depend on various factors, including your income, the property's value, the location of the property and whether you are a first-home buyer.
3. What Refinance Or First-Buyer Cashback Can I Get?
Lenders may offer cashback incentives to those who refinance. The amount of cashback offered can vary by lender and may depend on the amount you are refinancing. You can find all of the current offers on our refinance rebates page. Cashback offers are also available for first-home buyers. You can check for offers on our purchase cashback page.
4. Do I Have Any Equity In My Home?
This question is a common one for homeowners who are curious about the current value of their property and how much equity they have built up over time. Equity is the difference between the market value of your home and the amount you owe on your mortgage. To determine how much equity you have, you can have an appraisal done on your property or use our property equity calculator to estimate the value.
5. I Have Recently Been Employed. Do I Need To Be Three Months In This Job To Be Eligible For A Home Loan?
Many lenders prefer to see at least three months of continuous employment in the same job or industry before considering an application for a home loan. However, some lenders may consider less than three months if you can provide evidence of strong employment history and stability. It is important to note that each lender has its own criteria for assessing loan applications, and meeting the employment requirement does not guarantee approval.
6. Should I Consolidate My Personal/Car Loan Into My Home Loan?
Consolidating your personal or car loan into your home loan can simplify your debt repayments and lower your overall interest rate, but you may end up paying more interest in the long run. There may also be cashback options available depending on the type of debt.
7. Can I Buy/Build Property On A Temporary Visa?
In most cases, temporary visa holders will need to pay additional fees, such as foreign buyer surcharges and stamp duty, on top of the property price. Some lenders may require you to have a specific type of visa and a minimum period remaining on your visa before they consider your application. You may also need FIRB approval. Some temporary visa holders may not have a large enough deposit to purchase a property. In these cases, a mortgage broker can help them with a ‘prepare to buy’ plan.
8. Can I Get A Cheaper Rate As A Foreign Investor?
No, as a foreign investor, you may actually end up paying higher interest rates than Australian citizens and permanent residents. The Australian government imposes additional fees and taxes on foreign property investors, which can make it more expensive to obtain a mortgage.
9. Should I Go For Fixed Or Variable?
Whether a fixed or variable interest rate is best for you depends on your financial goals and current interest rate trends. A fixed interest rate provides certainty on repayments, while a variable interest rate can allow you to reap the benefits if interest rates fall. Additionally, variable-rate home loans often allow for unlimited extra mortgage repayments, whereas fixed rates generally allow, at most $5K-$10K a year.
10. Can I Apply For A Loan If I Have Been Part IX Debt Discharged?
If you've been Part IX (9) debt discharged, you may still be eligible to apply for a loan, including a land and construction loan. However, it's important to note that you may face higher interest rates and have fewer lender options available to you. In most cases, specialist lenders are the only ones who offer loans for individuals with a history of debt discharge.
) [8] => stdClass Object ( [post_id] => 33308 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Yes, you can. It’s quite common for couples to come into a relationship with one of them already owning a property.
Other couples choose to buy a property in just one name for asset protection reasons.
The problem is some banks won’t accept two borrowers, one owner and may knock back your home loan.
"Example of two owners, one borrower"
- A couple's home can be in just one name.
- A couple's investment property can sometimes be in just one name.
- Your business can borrow against a home owned by your partner.
- You can't borrow against a property owned by someone unrelated, except with a guarantor loan.
Do you need help finding a lender that will accept your loan structure?
Call us on 1300 889 743 or complete our free online assessment form and one of our specialist mortgage brokers will go through your options.
) [9] => stdClass Object ( [post_id] => 31076 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] => Use the interest only loan calculator to work how much more in interest you’ll pay over the life of your home loan by choosing interest only. This can help you make a better decision when choosing an interest only term.
By only having to make interest repayments for a period of your loan term, you can reduce the size of your mortgage repayments significantly.
Unfortunately, the industry regulator has forced banks to slowdown on approving interest only home loans so is it still possible to make just interest payments?
If you need help with getting a home loan, call 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [10] => stdClass Object ( [post_id] => 3378 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Yes! There are some lenders who will use all of your shift allowances, weekend penalty rates and night work penalty rates as long as you can show consistency over time.
- You can borrow up to 95% of the property value or up to 100% using a guarantor.
- 3 months in your job: Some of our lenders will use 80% of your overtime income.
- 2 years in your job: Some of our lenders will use 100% of your overtime income if it is consistent.
- Other allowances: Many employees receive other allowances for meals or transport which are generally not taken into account. If these allowances are not to reimburse you for an expense that you incur, we can get some of our lenders to consider this income on a case by case basis.
If you are not employed on a full time basis then please refer to our casual job page.
Please enquire online or call us on 1300 889 743 to discuss the nature of your allowances with one of our mortgage brokers.
) [11] => stdClass Object ( [post_id] => 446 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Different lenders will consider different types of multiple dwelling complexes including townhouses, houses, villas, semi-detached and fully-detached housing developments.
Duplex / dual occupancy
- First home buyer: 95% of the property value on a case by case basis.
- Investor:95% of the property value.
- Low doc: 80% of the property value.
- Construction:95% of the property value.
- 100% loans:Available with some of our lenders if you have a guarantor.
- Discounts:Competitive professional package and basic loan discounts are available.
Note: Many LMI (Lenders Mortgage Insurance) providers restrict lending for duplexes even though they are readily saleable and are excellent security for a loan.
We have access to lenders that can consider loans over 80% of the property value.
Call us on 1300 889 743 or complete our free assessment form to discuss your investment plans with one of our mortgage brokers.
) [12] => stdClass Object ( [post_id] => 99 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
- We are approval experts, not just a normal mortgage broker.
- Our services are free for most types of residential loans.
- Australia wide services.
- Access to almost 40 lenders including the major banks.
- A full member of the FBAA and AFCA, ensuring professional and ethical lending practices.
Using us as your mortgage broker
The team at Home Loan Experts are mostly former credit managers who approved difficult loans for both major banks and specialist lenders. What that means for you is that we know how to present your loan to make sure that it gets approved!
We also specialise in helping people in tricky situations. If your situation is unusual then most bank managers and mortgage brokers will not have the knowledge, experience and contacts to get your loan approved. We know exactly which lenders can help and how to present your loan application!
We are a friendly, young and enthusiastic team who aim to build strong relationships with our customers and help them realise their goals of home ownership. We don't charge any fees for most of our loans and we help individuals Australia-wide.
You're our customer and we will work with you to make sure your experience is positive and memorable. As a testament to our success as a team, we receive a large amount of referrals from satisfied customers, many of whom were originally declined by the banks.
Do you hold a credit licence?
Yes, we hold an Australian Credit License (ACL) as required under the National Consumer Credit Protection Act.
We are also a member of both the Finance Brokers Association of Australia (FBAA) and the Australian Financial Complaints Authority (AFCA).
We maintain the highest standard of training and education, as well as compliance with government regulations.
Will you charge a brokerage fee?
There are no fees for most of the loans we deal with. The very limited circumstances in which a fee may be applicable can be found on our Mortgage Broker Fees page.
To speak to a mortgage broker about your situation, call 1300 889 743 or complete our free assessment form and we will help you get approval.
) [13] => stdClass Object ( [post_id] => 45324 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Physicians and select medical professionals are eligible for special discounts on their home loan:
- Borrow up to 100% of the property value and avoid Lenders Mortgage Insurance (LMI).
- Get access to Interest rate discounts that aren’t available to the general public.
- Reap the rewards for high exposure limits if you're planning to rapidly grow your property portfolio.
- Benefit from flexible lending criteria thanks to the strong relationships that we have with on our panel, particularly if you're a recent graduate.
Call us on 1300 889 743 or fill in our free assessment form and find out if you're eligible for physician home loans.
) [14] => stdClass Object ( [post_id] => 242 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] => Did you know that most major lenders will no longer approve low doc loans that are used to refinance an existing home loan? This leaves many people high and dry when they need money the most and leaves others stuck on older loans at much higher interest rates. Thankfully some lenders will still refinance a low doc loan! Please call our mortgage brokers at 1300 889 743 or fill in our online enquiry form to see if you should refinance your home loan during the COVID-19 pandemic. ) [15] => stdClass Object ( [post_id] => 33246 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Are you a foreign citizen wanting to live and work in Australia as a permanent resident?
Every year, the Australian immigration department releases its new Skilled Occupations List (SOL) and Consolidated Sponsored Occupation List (CSOL).
What skilled occupations make up the list and will the bank accept your visa type when it comes time for you to apply for a mortgage?
How much can I borrow?
The skilled occupations listed in SOL and CSOL fall under a few different visa subclasses which vary depending on the profession.
Under the permanent resident mortgage policy for some of our lenders, the following visa holders can qualify for a mortgage and borrow up to 95% of the property value:
- Employer Nomination Scheme (subclass 186)
- Skilled Independent visa (subclass 189)
- Skilled Nominated Visa (subclass 190)
The following visas are also classed as permanent resident but your borrowing power may be restricted due to the short-term restrictions applied by the government:
- Skilled Regional (Provisional) visa (subclass 489): A 4-year visa similar to a 457 visa. You can borrow up to 90%.
- Skilled – Regional Sponsored visa (subclass 487): A 3-year visa that then allows you to apply for permanent residency. You can borrow up to 80%.
Call us on 1300 889 743 (+61 2 9194 1700 if you’re outside Australia) or complete our free assessment form to find out if you qualify for a skilled occupation mortgage.
Can I get the same interest rates as an Australian citizen?
Yes!
Since you’re living and working in Australia, you won’t be charged a higher interest rate just because you’re a foreigner.
Check out the lowest interest rates on offer from the nearly 40 lenders that we have on our lending panel.
You won’t be charged extra fees and you can get all of the same mortgage features as an Australian citizen.
What if I’m a temporary resident?
Like being a permanent resident, you’re borrowing power depends on your visa type, your occupation, and the strength of your overall financial situation.
If you’re on a Temporary Business (Long Stay) – Standard Business Sponsorship visa (subclass 457), 494 visa or on a Temporary Skill Shortage visa (482 visa) you may be able to borrow up to 90% of the property value as a special exception.
You can potentially borrow up to 95% if you’re married or in a de facto relationship with an Australian citizen or Australian permanent resident.
For other temporary visa types, including subclasses 417, 165, 160 and 422, you can borrow between 80-90%.
We’re experts in non-resident mortgages!
Please fill in our online enquiry form and let our mortgage brokers about your situation and what type of loan you need.
) [16] => stdClass Object ( [post_id] => 942 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Lending policy varies for each type of borrower:
- Investment loans: 95% of the property value.
- Low doc (no income evidence): 80% of the property value.
- Discounts: Competitive professional package and basic loan discounts are available.
We are specialist mortgage brokers and can help you find a lender that will approve your mortgage.
Please contact us on 1300 889 743 or enquire online and a member of our team will contact you to discuss your situation.
) [17] => stdClass Object ( [post_id] => 45028 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Police officers and other law enforcement professionals are able to qualify for special home loan exceptions, including:
- Borrow up to 95% of the property value: You'll need a clear credit history, stable employment, good income, minimal debts and must not be buying an unusual property type or a property in non-metro location.
- Borrow up to 110% of the property value: By asking your mum and dad to act as a guarantor on your mortgage, you can borrow the property value plus the costs of completing the purchase.
- Negotiated interest rates: We have special relationships with our panel of lenders that allow us access to special discounts, particularly if you have stable employment in law enforcement.
Call 1300 889 743 or fill in our free assessment form to discover if you qualify for a police home loan.
) [18] => stdClass Object ( [post_id] => 13790 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>We've compiled a list of the common reasons why people fail a bank's credit score.
We've broken it into three sections: your situation, your credit file and your application.
The good news is that not every lender credit scores. If you need help applying for a mortgage then please call us on 1300 889 743 or enquire online to speak to one of our mortgage brokers and see which lenders you will qualify with.
) [19] => stdClass Object ( [post_id] => 33319 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Income from investments isn’t just secure and ongoing – it shows that you’ve got funds on standby and you’ve got the financial aptitude to manage your money well.
Unbelievably, not every lender will accept investment income when assessing your home loan application!
What investment income types will the banks accept?
- Dividends – ASX listed companies
- Dividends – Private company (conditions apply)
- Managed fund income
- Interest income
- Royalties
- Annuities
- Rent income
Not every lender accepts each income type!
Each will accept a certain percentage of that income and will have different verification requirements.
Do you need help getting your home loan approved? Call us on 1300 889 743 or fill in our free assessment form and our mortgage brokers will help you to get approved!
) [20] => stdClass Object ( [post_id] => 50980 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Buying an investment property is not an easy task.
And things get trickier when you have to choose a location.
Finding the right location for your property can be crucial to the success of your investment.
Why is location important for investment?
The location of your investment decision can determine the types of tenants you'll get.
If you want an investment property that will gain high rental yields for the foreseeable future, then you’ll need to choose a location that is popular with tenants.
If you're opting to buy vacant land, you'll need to choose a location that will increase in value in the future as you won't be earning any rental income from it for a while.
How To Choose A Location For An Investment Property
Here are some tips you can follow to get started on choosing where to buy your investment property:
- Invest where you know: Consider buying in markets you're familiar with first so you spend less time researching areas or suburbs you're not familiar with. This also means you have an intimate know-how of the types of tenant residing in the area. If you’re considering buying interstate, we recommend hiring a buyers’ agent.
- Get a team ready: Get in touch with a buyer's agent of the area you're looking to invest in. It's beneficial to go with the local buyer agent as he/she would have intimate knowledge of the area. Talk to the real estate or buyer's agent to find out what people liked or disliked about the property or location. You should even have an accountant on your team to give tax advice.
- Empathise with your tenants: Go for locations that tenants favour, instead of just what looks good to you. If the goal of your investment property is to earn a strong rental income and minimising vacancy, then opting to choose locations that tenants prefer is a must.
- Stay updated about development changes: Find out if any infrastructure improvements might happen in the area. This might determine the type of tenants and the value of the location in the future. Get in touch with the local council to check if there are any planned developmental projects. Talk to the locals to get their feedback on how they feel about those projects.
- Desirable features for tenants: Look into the features that are desirable to tenants like a garage, swimming pool, etc. While renters in Melbourne need transportation facilities, the same principle does not apply to renters in Perth or Adelaide who prefer to drive. For them, a garage is more important than having good public transport.
- Costs involved: Take into consideration the maintenance costs of the property. If you're buying an older property, then you might need to set aside some funds for renovations or repairs.
- Vacancy rates: Review the latest vacancy rates of the location you've chosen. It's good to invest in areas where vacancy rates are low as it means that your property will not be empty for long between tenants. A location with high vacancy rates makes it harder to sell it in the future. Information on vacancy rates can be found online on Corelogic and other websites.
- Compare sales information: Check the recent sales figures for the locations you're buying in. You can get sales data on how the property is performing online, or by talking to real estate agents and buyer agents. Look into the average prices of the surrounding areas. If there are huge margins of differences within the area, think twice before investing. If the prices are comparable, then it's a safer bet.
- Access to amenities: The proximity to amenities like shopping centres, schools, gyms, etc. determines how much demand there is for rental properties.
- A building inspection is a must: Always do an independent pest and building inspection. An independent inspector will provide a detailed report about your property.
- Take note of scarcity, demand and supply: The availability of rentals around the area determines the demand and supply. If your potential location is rife with rental properties, the oversupply might lower your rental yield. If it's too scarce, then the rent might be high, but the tenant pool is limited. You have to choose a location that strikes the perfect balance between the demand and supply of rentals.
- Decide on your investment strategy: Are you looking for capital growth potential or choosing a property to get the benefits of rental yields? If you’re looking to earn from rental yields, then the location of your investment property should be one favoured by renters.
Take A Look At The Broader Picture
Macro- and microeconomic factors also have an impact on where you want to invest in property. Look at the information related to the state and then home in on the suburb, neighborhood and street. Macro factors include population growth, employment and infrastructure investment, while micro factors include amenities and transport. Let’s take Melbourne as an example. Melbourne experienced population growth of over 2% in 2018 with a demand of over 110,000 new jobs. There are plans afoot to build over 1.6 million dwellings by 2050 to accommodate the growing population and employment opportunities.What To Avoid When Choosing Investment Property Locations
While there are a plethora of things you can do to ensure that you've invested in the right location, here are some things you should keep in mind.
- Don't get your emotions involved: Getting emotionally attached to the property will cloud your decision. Use analytical data and the knowledge of experts and local people instead of going with your heart. Going to look for a property when you're in a bad mood is a disaster too.
- Don't buy a property with cheap strata levies: This is an indication that the building might not offer facilities that tenants want.
- Don't go property hunting or to open houses alone: Get a team of experts to go with you. These experts don't always have to be a real estate agent or buyer's agent. It can be your family or friends who will point out things that you were not aware of.
- Don't lowball the figure: If the investment property is really favourable to you, don't offer a low figure, as someone else will buy the property before you.
- Try to avoid buying off-the-plan units: While these units might be cheaper to invest in, you'll have to consider that these properties are usually clustered together and built by the same developer. There's just too much competition to get the right tenant into the property.
- Buy in the location that suits the tenants, not you: You have to take the requirements of the tenant when you're choosing a location. Do not make a decision to buy just because you love the location. Your investment property must be one in which you want your ideal tenant to reside in.
New Unit Or Established Property?
While investing in either a new unit or buying an established property have their benefits, investors are known to prefer established properties to new ones.
By buying an established property, investors benefit from:
- Insights and data like comparable sales figures, vacancy rates, demographic profiles, types of tenants, etc.
- Adding value to the property by renovating and refurbishing and making it more appealing to tenants.
- Having a property close to a CBD as newer properties are situated on the outer suburbs due to unavailability of land. However, in some cases, new apartments can also be located close to a CBD.
However, investing in a new property is not without its benefits:
- Investors can get tax write-offs and take advantage of depreciation benefits. You can get tax breaks on rental advertising costs, council rates, land tax, etc.
- You are investing in a property that is attractive to the tenant as it has modern amenities and smart appliances that tenants currently want. This might help you get a tenant who is willing to pay a higher rent.
- New properties generally have lower maintenance costs, and in most cases, if anything needs renovation or replacement, it can be done easily.
- Stamp duty
- Conveyancing fees
- Legal fees
- Search fees
- Pest and building reports
- Council and water rates
- Land tax
- Property management fees
- Repairs and maintenance
- Agent fees, and more.
- Get a deposit of at least 20% of the property value ready to avoid paying Lenders Mortgage Insurance (LMI). If you own property already, you can use the equity from it as well. We also have no deposit investment loan options available.
- You will need at least three months of genuine savings in your account. This is a good indicator to lenders of your ability to save and manage your finances.
- It’s always better to have a good credit score on your file.
- You will need to be employed and earning a good income to prove to the lender that you can afford the mortgage.
- Try to reduce your expenses, as they do affect your borrowing power.
- Limit the number of credit cards you used and cancel any unused credit cards.
- Make sure you're making timely repayments on your commitments, like car loans, and buy now pay later services like Afterpay and ZipPay.
- Getting a pre-approval for your investment loan so you know how much you can afford. Once you know your budget and how flexible you can be, you can narrow down your options on where you can buy.
- We can even provide you with property reports and suburb reports since we have access to CoreLogic RP data and AMV.
- Once you've decided to buy the investment property, send it to your mortgage broker so they can help you get your financials in order.
- Use our investment property calculator to predict your weekly cash flow for your investment property.
- If you’re thinking of turning your home into an investment property, the rental income has to be declared on your tax return. Furthermore, the cost involved with an investment property, like advertising for tenants, maintenance, etc might be tax deductible. However, when you sell your property, you need to consider capital gains tax and real estate agent fees.
- The valuation comes in lower than the purchase price but you still have enough funds to complete the purchase.
- You change your mind and don’t want to buy the property.
- The lender approves your loan at a higher rate than you’d like.
- Borrow up to 95% with waived LMI: Borrow up to 95% of the property value and avoid Lenders Mortgage Insurance (LMI).
- Borrow up to a maximum loan size of $4.5 million.
- Access signficantly reduced interest rates that aren’t available to the general public.
- Rapidly build an investment property portfolio thanks to higher exposure limits for high net worth investors.
- Take advantage of flexible approval criteria for new graduates.
- A high income to afford both repayments.
- Little existing debt (car loans, high credit card balances, etc).
- A clear credit history.
- Some savings to make up any shortfall.
- A proven rental history (preferred).
- Avoid making principal payments for up to 5 years
- Come over your financial crunch
- Not gaining equity to the property
- Having to pay more interest over the years
- Freehold storage unit: Borrow up to 70% of the property value or up to 100% by using a commercial property guarantor loan.
- Leasehold store unit: Considered on a case by case basis with a business plan.
- Loans over $5 million: Considered on a case by case basis.
- Maximum loan term: 25 years.
- Maximum interest only term: 5 years.
- Low doc and bad credit options: Case by case when buying just the freehold and borrowing may be restricted.
- Discounted interest rates: Available by negotiation by your mortgage broker and based on your application strength.
- You must owe less than 80% of the property value on your home loan.
- Your home loan repayment history must be perfect.
- You'll need to provide your last two payslips.
- You'll need to provide your most recent group certificate.
- Low doc options are available for self-employed borrowers who can't prove their income through traditional means.
- Your credit file should be clear of bad marks.
- ABN search
- ASIC article - Low-doc loans: are they for you?
- What is on a credit file and how does this affect a low doc loan?
- Learn more about the National Consumer Credit Protection Act (NCCP)
- Low doc loan calculator
- Most lenders will typically use 80% of your dividend income from an employee stock ownership plan.
- Some lenders use your current shareholding not an average of your last two years, which makes sense if you decide to increase your shareholdings.
- Some lenders give discounted home loan rates for a home loan to buy shares in your employer that is secured on a residential property.
- Borrow up to 95% of the property value to buying a property using employee shares.
- Some banks assess you as self-employed if over 25% of your income comes from your employer.
- Some lenders want to see financials and tax returns for your employer.
- You can borrow up to 95% of the property value or up to 100% using a guarantor.
- 2 years in your job: Some of our lenders will use 100% of your bonus income if it is consistent.
- 3 months in your job: Some of our lenders will use 80% of your bonus income.
- You may need to provide a letter from your employer confirming the consistency of this additional income.
- Performance-based and irregular bonuses: Considered on a case by case basis depending on the consistency of this income. Generally, this is acceptable if you have a 2-year history of receiving these bonuses.
- One-off bonuses: Cannot be considered as additional income.
- Two current consecutive payslips.
- Letter of entitlement from your employer / letter confirming your bonuses are likely to continue.
- Your most recent tax return or group certificate, in some cases, two years of tax returns may be required.
- You can borrow a maximum of 80% of the value of the land plus the cost of construction.
- It’s possible to borrow 100% of the land and construction costs with a guarantor.
- Large scale renovations of existing properties are also acceptable.
- You must have contingency funds in case you go over your budget.
- Some of our lenders offer competitive interest rate discounts.
- Most banks do not lend to cost plus building contracts.
- 1% AEP (1:100 year flood zone): 95% of the property value.
- 2% AEP (1:50 year flood zone): 80% of the property value on a case by case basis.
- 5% AEP (1:20 year flood zone): In most cases we cannot assist with these properties.
- 100% loans: Available with some of our lenders if you have a guarantor.
- You must be allowed to build on the property or there must already be a house on the property.
- You must be able to insure the property.
- The maximum flood height must be lower than the floor height of the house.
- The bank valuer must agree that the property represents an acceptable risk to the bank.
- High rainfall which causes nearby rivers to overflow, creating a flood which damages your home.
- High river and dam levels which cause flooding to your home.
- May cover flooding that occurs as a result of rising sea levels caused by severe storms.
- We know which banks will accept your home as security for a loan
- Our mortgage brokers are credit experts who know the lending policies of over 30 financial institutions
- We offer nationwide services
- Free financial services for most loan types
- The credit type and loan amount you applied for, previously it only showed up as a credit enquiry.
- The nature of the credit account – Personal loan, home loan, overdraft or credit card.
- The financial institution where the account is held – NAB, Westpac etc.
- Maximum credit amount available for each account.
- The date a credit account is opened and closed.
- New and previous credit amounts.
- 24 months account payment history: Monthly repayment history will reflect whether you paid the minimum amount required on your financial commitments each month or not.
- Conditions related to your repayment.
- Default agreement details.
- Special pricing, including a significantly reduced interest rate.
- An LMI waiver.
- The opportunity to with a bank that will support your future business and personal goals.
- New home buffer: You can choose interest only for a year in order to buy furniture or to renovate your new home.
- Property investment: You can maximise your cash flow position and reduce your opportunity cost, although it depends on whether your long term goal is to have a positively-geared portfolio.
- Business investment: You can leverage funds that aren’t tied up in your property to invest in your business
- Buying shares and equities: Using a residential property to secure your shares is acceptable to some banks and a short-term IO period can give you a bit more leg room to continue growing your portfolio.
- Turning a home into an investment: Save thousands in mortgage repayments if your plan is to switch your home to be an investment property.
- Buying a new home before selling the old one: A short-term IO will reduce your home loan repayments on a new property purchase so you can focus on paying down your old mortgage and maximise your equity growth.
- Retirement planning: With the right exit strategy in place, you can drastically reduce your mortgage repayments when downsizing for your autumn years.
- Covering a temporary shortfall in income: Having a baby, relocating overseas or switching to part-time work are very common life events and a short-term IO period can help manage the fall in your normal income.
- You want lower monthly repayments
- You want to use your home’s equity for cash-out
- You want to pay off your mortgage sooner
- Interest rates are falling
- Your home has significantly gone up in market value
- You are looking to renovate your home or invest in a property
- Recent payslips to verify your income
- Latest tax assessment notice
- A letter from your employer confirming your salary
- Identification certificates, like your passport or driver’s licence
- Complete financial and credit documents (credit card statements, your current mortgage documents, bank account statements, etc.)
- Switching to a home loan with lower interest rates over the same term will save of you thousands of dollars over the life of the loan.
- Switching to a longer loan term will lower your monthly repayments but you’ll end up paying more overall.
- New or existing juice bar: Borrow up to 50-70% of total business costs or 100% with an existing residential property as security.
- Loan term: 7 years (as per the franchise agreement).
- Loan term with property as security: 25 to 30 years (standard loan term).
- Interest only: Around 2 years or more depending if you're using property as security.
- Low doc options not available.
- We can help negotiate strong interest rates.
- Existing store: If you're buying an existing store from the current franchisee, you'll generally need to provide 3 years financials for the business in the form business tax returns and profit and loss statements.
- Experience: No matter whether you're buying a greenfield or existing juice bar, you'd need to show evidence of at least 3 years experience in a similar industry and in a managerial or supervisory role. This shows that you have the skills to keep the business afloat for the long term.
- Good financials and credit history: Having capital to contribute to the first 6 months of operations is a typical requirement while having a clear credit history reflects your character as a borrower, which is important in painting a good picture with the bank.
- Business plan: Apart from your past experience, the bank will usually want to see a business plan that you've drafted up with a financial professional that shows cash flow and revenue forecasts for the next few years.
- Completing the expression of interest on the Boost Juice franchise page.
- Filling out their application form and sending it back along with a refundable $2,200 deposit.
- This is be followed by an interview over the phone.
- If you're successful, you will then be given a confidentiality agreement to sign and a Deed of Undertaking and Acknowledgement.
- At this point, you'll be provided with sales figures along with a financial planning guide and an operational questionnaire.
- This is followed by a face-to-face interview with one of their franchise business development managers.
- A day of work experience in a real store.
- You'll then be given a franchise kit which contains an example of the disclosure document and franchise agreement. Ask if you can see this up front before providing your deposit or undertaking training!
- Signage.
- Fit-out.
- Equipment.
- Deposit of $2,200 (refundable).
- Royalty fee: 4-6% of monthly turnover.
- Advertising and marketing: 3% of gross monthly turnover.
- A 4-week training program in Melbourne covering smoothie and juice preparation, operational health and safety requirements and sales training.
- You'll have a dedicated business development manager assigned to you.
- Access to Boost's national and local area marketing capabilities.
- Shop fit-out and site selection.
- As part of a head lease agreement, Boost Juice will handle initial negotiations and ongoing management of the lease agreement between you and the landlord.
- You'll be able to leverage Boost Juice Bar's buying power with suppliers meaning cheaper outgoings than running an independent store.
- Borrow up to 100% of the property value plus the costs of completing the purchase (depending on the deposit amount).
- This amount is used as security in the event that your default on your home loan.
- The funds will need to be deposited with the bank that you are using for your home loan.
- The bank will hold the term deposit and roll it over (start a new fixed term) until the guarantee is released.
- The State and Federal Government incentives grants and stamp duty relief
- People returning to WA from interstate and overseas
- Record-low interest rates
- Rental supply shortage
- Debt is currently very cheap
- Your loan is over $300,000,
- Your situation is not complex, and
- You are keeping the loan for over two years.
- First home buyer: 95% of the property value (restrictions apply).
- Investor: 95% of the property value.
- Guarantor loans: Borrow up to 100% with select lenders only.
- 100% home loan with no LMI: Borrow up to 100% if you’re an eligible professional (stricter lending criteria applies).
- Low doc: 80% of the property value.
- Discounts: Competitive professional package and basic loan discounts are available.
- Borrow up to 95% with waived LMI: Borrow up to 95% of the property value and avoid Lenders Mortgage Insurance (LMI).
- Borrow up to a maximum loan size of $4.5 million.
- Access significantly reduced interest rates that aren’t available to the general public.
- Rapidly build an investment property portfolio thanks to higher exposure limits for high net worth investors.
- Take advantage of flexible approval criteria for new graduates.
- Clean credit history: Having blemishes such as defaults, judgments and bankruptcies on your credit file can work against you when applying for a 90% investment loan but not with all lenders depending on your case.
- You’ll need a deposit: In most cases, you’ll need 5-10% of the purchase price in genuine savings or a deposit that you’ve saved over a period of 3-6 months. There are exceptions to this with some lenders and you may be able to use equity in an existing property your own or a gift.
- Negative gearing may be accepted: Only applicable with some lenders and only if you have a strong income.
- Employment: Although there are exceptions to this policy, you’ll usually need to have an employment history of 3 to 6 months in your current job role.
- Standard properties more likely accepted: Unusual or non-traditional property types located outside of capital cities or major regional locations are not usually accepted by lenders.
- First home buyer: 95% of the property value (restrictions apply).
- Investor: 95% of the property value.
- Low doc: 80% of the property value.
- Discounts: Competitive professional package and basic loan discounts are available.
- Guarantor loans: Borrow up to 105% of the property value by using a guarantor.
- Pay extra: On a $490,000 home loan over 30 years, you can save more than $40,000 in interest by paying just an extra $100 every month. You'll also get an added bonus of paying off your mortgage faster. Try our Extra Repayments Calculator and check it out for yourself. Bear in mind, it's best to only do this with a variable rate home loan. You're ability to make extra repayments on a fixed rate home loan will be restricted and, at worst, you'll break costs by doing so.
- Increase repayment frequency: If you pay monthly, you'll be making 12 payments a year. If you pay fortnightly, the number goes up to 26 because there are 52 weeks in a year. So by paying weekly or fortnightly, you're essentially making extra repayments.
- Switch to P&I repayments: You can pay interest only if you want more cash in your hand but understand that paying Principal and Interest (P&I) is actually more cost-effective. Suppose you have a $540,000 home loan over 30 years at 4.08%. If you pay P&I from the beginning, you'll be saving more than $35,000 in interest over the life of the loan than if you paid interest only for just 5 years and then switched.
- Use an offset account: You can reduce your mortgage costs by using an offset account. This is an account linked to your home loan. Any money you keep here directly offsets your mortgage. For example, if you have a $400,000 mortgage and have $20,000 balance in your offset account, you'll only pay interest on $380,000, as opposed to the full mortgage amount. Therefore, you'll want to keep your balance as high as you can. This way, as your offset balance grows, your interest payments will steadily decrease.
- First home buyer: 85% of the property value.
- Investor: 85% of the property value.
- Guarantor loans: Borrow up to 100% with select lenders only.
- Low doc: 80% of the property value (case by case basis).
- Discounts: Some interest rate discounts may be available depending on the lenders that will accept your hotel unit as security.
- Borrowing up to 95% of the property value with waived Lenders Mortgage Insurance (LMI)
- Interest rates even lower than the already discounted rates offered on a professional home loan package.
- Higher exposure limits for those with a substantial property portfolio.
- Your home loan rate: You could be getting a better interest rate by refinancing to another lender.
- Switching between fixed and variable: Whether you started on a variable rate or a fixed rate, a home loan health check can help you make an informed decision.
- Your property value: We can provide a free property valuation and let you know if you are in a position to access equity in your home.
- Debt consolidation: If you're struggling with mortgage repayments because you're juggling multiple debts and bills, you can consolidate your debts into your home loan.
- Refinancing back to a prime lender: If you are currently on a low doc, bad credit or any other type of specialist home loan, you're paying a higher interest rate and may be in a position to refinance back to a major lender at a sharper rate.
- Home loan features:You may not be getting the most out of your home loan features, especially if your personal situation will or has recently changed, such as starting a family, renovating your home or buying an investment property.
- Borrow 90% with no genuine savings: You can borrow 90% from most of our lenders, irrespective of the source of your deposit.
- Borrow 95% with no genuine savings: Some lenders can approve a home loan for up to 95% of the purchase price with no genuine savings (specific conditions apply).
- Borrow 100% with no genuine savings: With a guarantor, you can borrow 100% of the purchase price plus the costs of completion.
- The developer’s quality and ability to finance the construction are among the most significant uncertainties you will face.
- Not all developers can deliver the property to the standards you may expect and the timeframe you want, so you need to choose the developer carefully.
- If you are one of the first to buy in a project, you can often get a better price. You can also choose the best unit in the block.
- Working with a good solicitor will also ensure the contract protects you from potential changes.
- Valuation is an opinion and can vary, so if a valuation does come in short, you can choose to find a valuer who understands the value proposition of the specific property.
- Desktop Valuation: Fully remote, relying solely on property data and market trends.
- Kerbside Valuation: Involves a physical inspection of the property’s exterior.
- Full Valuation: A thorough internal and external inspection.
- Buy now and choose First Home Buyer Choice’s stamp duty option
- Buy now and choose First Home Buyer Choice’s annual land tax option
- Wait until 1 July and buy under Fresh Start.
- Under $650K purchase price: Buy whenever you like
- $650K-$800K: You'll pay no stamp duty after 1 July, so best to wait
- $800K-$850K: It's probably best to wait until July
- $850K-$950K: For a unit, it's probably best to buy now and choose the NSW property tax. For a house, it may be best to wait. The best option changes, depending on how long you are going to keep the property – if you keep it long enough, you’ll pay more in property tax than you would have in stamp duty – so it's important to do the maths.
- $950K to $1.5M: It's almost certainly better to buy now and select the property tax if you expect to keep your home for the average period of time (about 10 years). It may be better to wait if you plan to keep the property forever.
- Low risk properties: You may be able to borrow up to 95% of the value of a property up to BAL-29.
- Medium risk properties: You may be able to borrow up to 90% of the value of a BAL-40 zoned property.
- High risk properties: You may be able to borrow up to 80% of the value of a flame zone property.
- Construction loans: You can borrow based on the the cost of the land and the building or the on completion valuation, whichever is less.
- Guarantor loans: Borrow up to 100% with select lenders only.
- It can protect yourself from sudden interest rate hikes.
- It provides security and stability as you are able to organize your finances effectively.
- It allows you to take advantage of the low fixed interest rates.
- Standard home: Borrow up to 95% of the purchase price or Loan to Value Ratio (LVR).
- Standard home being used as a boarding house: 70% LVR. Borrow more depending on the strength of your case.
- Commercial loan: 60-70% LVR. Typically for boarding houses with 6 or more bedrooms.
- Borrow 95% with waived LMI: You can borrow 95% of the property value and avoid the cost of Lenders Mortgage Insurance (LMI).
- Borrow up to a maximum loan size of $4.5 million.
- Rapidly build an investment property portfolio thanks to higher exposure limits for high net worth investors.
- Relaxed credit criteria for new graduates.
- Borrow up to 105% of the property value with a guarantor loan.
- Your parents can use the equity in their home to secure your mortgage so you can buy a home with no deposit.
- Avoid the high cost of Lenders Mortgage Insurance (LMI).
- Cover the extra costs of purchasing a property including stamp duty, mortgage set up costs and conveyancing and legal fees.
- Qualify for a low interest rate.
- Your income must be sufficient: You do need to be earning enough to afford the home loan as well as your other commitments like bills and existing debt without hardship. This is otherwise known as meeting the bank's 'serviceability ratio' requirements.
- You need a strong employment history: A stable job that you've been in for the past 6 to 12 months is a general requirement for 97% home loans although some lenders aren't as strict with this policy.
- Your credit history must be clean: Your bills, rent, credit card repayments and other commitments must have been paid on time for at least the last 6 months and your credit file must be clear of black marks.
- You have little to no debt: Having a lot of debt such as multiple credit cards or personal loans is generally not accepted. Anything less than 5% of the purchase price for the property you're looking to buy may be accepted on a case by case basis.
- You must have a sufficient asset position: You should have a level of assets comparable to your age such as a car, shares or a term deposit.
- There are postcode and property restrictions: The property type and its location will also have an affect on getting approved. Banks are reluctant to approve mortgages for properties that will likely be difficult to sell in the event that you default on your repayments.
- You need at least 5% genuine savings: You need at least 5% of the purchase price in regular savings into a bank account over a period of 3 months. Luckily, not all lenders have this genuine savings requirement and may accept a gift from your parents instead (conditions apply).
- You must owe less than 80% of the property value on your investment loan.
- You can refinance at any time (if you owe less than 80%) if you're on a variable interest rate.
- You can refinance on a fixed rate if you find that you're likely to recoup the cost of early exit fees within the first two years of refinancing (applies to borrowers releasing equity to purchase another investment property).
- Borrow up to 95% with waived LMI: Borrow up to 95% of the property value and avoid Lenders Mortgage Insurance (LMI)
- Interest rate discounts that aren't available to the general public.
- Higher exposure limits for investors with several properties and want to continue growing their portfolio.
- Flexible credit criteria for new graduates and new dental clinics.
- Your income comes from a source other than the insolvent company.
- You can prove your income.
- Your company is not currently in external administration.
- Loans to refinance directors’ guarantees or debts are considered.
- You are borrowing no more than 90% of the property value.
- First home buyer: 95% of the property value (restrictions apply).
- Investor: 95% of the property value.
- Guarantor loans: Borrow up to 100% with select lenders only.
- Low doc: 80% of the property value.
- Discounts: Competitive professional package and basic loan discounts are available.
- Borrow up to 95% of the property value: You'll need a clear credit file, earn a regular income, have a strong debt to income ratio and be purchasing a standard property in a mainstream location.
- Borrow up to 110% of the property value: With a guarantor loan, you need no deposit because your parents can use their home to secure the property value plus the purchase costs.
- Competitive interest rates: We can often negotiate significant interest discounts with our panel of lenders.
- A clean credit history: Your credit history should be clear of defaults, judgments and bankruptcies. Missed repayments over the last 6 months or too many credit enquiries will also reduce your chances of approval.
- A sufficient deposit: You’ll need a 15% deposit with at least 5% in genuine savings, which most lenders accept as a deposit that you’ve saved in a bank account for at least 3 months. However, some lenders can consider a gift from your parents or a lump sum deposit as evidence of savings.
- Stable employment: In most cases, you’ll need to have worked in your current job role for at least 3 to 6 months. If you’ve changed jobs, most lenders will want you to have been working in the same industry for the past 2 years.
- Excellent income: When it comes to 85% investment loans, banks tend to be a bit more conservative so you’ll need to show that you earn a significant enough income to meet the mortgage repayments. If you can prove that you have a strong income then some lenders may even take negative gearing into account.
- Standard investment property: It’s much more difficult to get approved if you’re looking at investing in an unusual or non-traditional property type such as those located outside of capital cities or major regional locations.
- You have to be refinancing an existing loan worth at least $250,000.
- You must also hold an NAB transaction account at the time of drawdown.
- Your current mortgage must be refinanced to NAB.
- The primary borrower listed on your loan should have an active NAB transaction account at drawdown.
- This offer is available to individual applicants who are owner-occupiers or residential investors. Refinancing of First Home Loan Deposit Scheme loans and loans to businesses, non-residents, trusts, and other non-natural people are not included.
- Up to 105% of the purchase price with a guarantor loan.
- Up to 100% with a no deposit loan subject to an extensive approval criteria.
- Up to 80% with special interest rate discounts.
- Switch to a variable rate without paying break fees if interest rates go down during the fixed term.
- Make extra repayments without caps or penalties.
- Split their loan up to four ways and take advantage of an offset sub-account applicable on any variable interest rate portion.
- Australian citizens or permanent residents living and working in Japan can generally borrow up to 80% of the property value.
- You can qualify for the same interest rates as an Australian citizen and we even know lenders that will apply the Japanese tax rate when assessing your income which improves your borrowing power.
- Some lenders will use the tax rate of Japan, as opposed to Australian tax rates, which can greatly improve your borrowing power.
- If you're earning Japanese Yen but you can't provide sufficient documents to prove your foreign income, such as recent payslips or tax returns, then you may be limited to borrowing less than 80% of the property value.
- Loans available for purchase, refinance, investment property or to buy a house and land package.
- If you're a dual citizenship holder or you're married to a foreign national, some lenders may unfairly treat you as a foreigner so choosing a lender that favors expats is essential to borrowing at the maximum Loan to Value Ratio (LVR).
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- Australian citizens and permanent resident (PR) visa holders living in Hong Kong may be able to borrow up to 90% of the property value.
- Get the same interest rates as an Australian citizen.
- Some lenders will use the tax rate of Hong Kong, as opposed to Australian tax rates, which can greatly improve your borrowing power.
- Self-employed borrowers may be able to borrow up to 80% of the property value with one of our lenders and we have at least one that will use 90% of your net income rather than gross income.
- Loans available for purchase, refinance, investment property, or to buy a house and land package.
- If you’re a dual citizenship holder or you’re married to a Hong Kong citizen, some lenders may treat you as a foreigner, so choosing a lender that favours expats is essential to borrowing at the maximum Loan to Value Ratio (LVR).
- If you’re earning Hong Kong Dollars (HKD) but you can’t provide sufficient documents to prove your foreign income, such as recent payslips, or tax returns, then you may be limited to borrowing up to 80% of the property value.
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- Borrow up to 90% of the property value as an Australian citizen or permanent resident (PR) living in China.
- You can qualify for the same interest rates as an Australian citizen.
- Some lenders will use the tax rate of China, as opposed to Australia tax rates, which can improve your borrowing power.
- Self-employed borrowers may be able to borrow up to 80% of the property value with one of our lenders and we have at least one that will use 90% of your net income rather than gross income.
- Loans available for purchase, refinance, investment property, or to buy a house and land package.
- If you’re a dual citizenship holder or you’re married to a Chinese citizen, some lenders may treat you as a foreigner, which means that choosing a lender that favours expats is essential to getting approved.
- If you’re earning Chinese Yuan (CNY) or Renminbi (RMB) but you can’t provide sufficient documents to prove your foreign income, such as recent payslips or tax returns, then you may be limited to borrowing up to 80% of the property value.
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- Higher interest rates: This will mainly depend on the lender and the type of verification or supporting documentation you can provide. Some of our lenders offer the same low rates as they do for full documentation home loans.
- Larger deposit: 20% of the purchase price is typically required, although some lenders require less.
- LMI: Mortgage insurance is usually applicable if you borrow over 60% Loan-to-Value Ratio (LVR).
- Find out which documents you can provide, what your needs are and which lenders you can qualify with.
- Select the lender with the lowest interest rate, fees and LMI premium, as well as the loan features that you require.
- Present your application in a way to make sure it is seen favourably by the lender.
- Australian citizens and permanent resident (PR) visa holders living in Switzerland may be able to borrow up to 90% of the property value.
- You can qualify for the same interest rates as an Australian citizen.
- Self-employed borrowers may be able to borrow up to 80% of the property value with one of our lenders and we have at least one that will use 90% of your net income rather than gross income.
- Loans available for purchase, refinance, investment property or to buy a house and land package.
- If you’re a dual citizenship holder or you’re married to a foreign national, some lenders may unfairly treat you as a foreigner so choosing a lender that favours expats is essential to borrowing at the maximum Loan to Value Ratio (LVR).
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- Borrow up to 90% of the property value as an Australian citizen or permanent resident (PR) living in Germany.
- You can qualify for the same interest rates as an Australian citizen.
- Self-employed borrowers may be able to borrow up to 80% of the property value with one of our lenders and we have at least one that will use 100% of your net income rather than gross income.
- Loans available for purchase, refinance, investment property or to buy a house and land package.
- If you’re a dual citizenship holder or you’re married to a foreign national, some lenders may treat you as a foreigner which means that choosing a lender that favours expats is essential to getting approved.
- If you’re earning Euro but you can’t provide sufficient documents to prove your foreign income, such as recent payslips, or tax returns, then you may be limited to borrowing up to 80% of the property value.
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- Max loan $1,000,000 at 85%.
- Max $1,250,000 in total loans with no LMI.
- You must have a clear credit history.
- You may need to meet minimum income criteria with some lenders.
- This is for low risk borrowers only, strict criteria apply.
- Standard employment
- Contracting via an ABN
- Contracting as an employee
- Medical partnerships
- Profit share / commissions
- Depending on your situation, you may still qualify for exclusive interest rate discounts and avoid the cost of Lenders Mortgage Insurance (LMI) when borrowing up to 100% of the property value.
- CBA / Colonial: Call CBA on 132 407.
- St George Bank: Call St George on 13 33 30.
- Westpac: Call Westpac on 132 032.
- ANZ: Call ANZ on 13 13 14. Note that for most loans ANZ does not automatically reduce your repayments when interest rates fall so you may not need to call them.
- Citibank: Call Citibank on 1300 361 922 or 13 24 84.
- AMP: Call AMP Banking on 133 030.
- Mortgage House: Call Mortgage House on 133 144. In some cases you may have to fax a signed and dated letter to client services on 02 9407 3083
- United States Dollar (USD)
- Great Britain Pounds Sterling (GBP)
- Euro (EUR)
- Singapore Dollar (SGD)
- Canadian Dollar (CAD)
- United Arab Emirates Dirham (AED)
- Hong Kong Dollar (HKD)
- Japanese Yen (JPY)
- Swiss Franc (CHF)
- New Zealand Dollar (NZD)
- Chinese Renminbi (CNY) - Conditions apply
- Bahrain Dinar (BHD)
- Bruneian Dollar (BND)
- Danish Krone (DKK)
- Fijian Dollar (FJD)
- Indian Rupee (INR)
- Indonesian Rupiah (IDR)
- Kuwaiti Dinar (KWD)
- Macau Pataca (MOP)
- Malaysian Ringgit (MYR)
- Norwegian Krone (NOK)
- Oman Rial (OMR)
- Papua New Guinean Kina (PGK)
- Philippine Peso (PHP)
- Qatari Riyal (QAR)
- Samoan Tala (WST)
- Saudi Arabian Riyal (SAR)
- Solomon Island Dollar (SBD)
- South African Rand (SAR)
- South Korean Won (KRW)
- Sri Lankan Rupee (LKR)
- Taiwan New Dollar (TND)
- Thai Baht (TBH)
- Tongan Pa’anga (TOP)
- Turkish Lira (TRY)
- Vanuatu Vatu (VUV)
- Vietnamese Dong (VND)
- Desktop Valuation: Fully remote, relying solely on property data and market trends.
- Kerbside Valuation: Involves a physical inspection of the property’s exterior.
- Full Valuation: A thorough internal and external inspection.
- A property can see a huge increase in value when rezoning is announced.
- It can allow you to subdivide your lot or sell it to a developer who can subdivide and build residential unit blocks or commercial and industrial properties.
- A couple's home can be in just one name.
- A couple's investment property can sometimes be in just one name.
- Your business can borrow against a home owned by your partner.
- You can't borrow against a property owned by someone unrelated, except with a guarantor loan.
- Your home loan rate: You could be getting a better interest rate by refinancing to another lender.
- Switching between fixed and variable: Whether you started on a variable rate or a fixed rate, a home loan health check can help you make an informed decision.
- Your property value: We can provide a free property valuation and let you know if you are in a position to access equity in your home.
- Debt consolidation: If you're struggling with mortgage repayments because you're juggling multiple debts and bills, you can consolidate your debts into your home loan.
- Refinancing back to a prime lender: If you are currently on a low doc, bad credit or any other type of specialist home loan, you're paying a higher interest rate and may be in a position to refinance back to a major lender at a sharper rate.
- Home loan features:You may not be getting the most out of your home loan features, especially if your personal situation will or has recently changed, such as starting a family, renovating your home or buying an investment property.
- CBA / Colonial: Call CBA on 132 407.
- St George Bank: Call St George on 13 33 30.
- Westpac: Call Westpac on 132 032.
- ANZ: Call ANZ on 13 13 14. Note that for most loans ANZ does not automatically reduce your repayments when interest rates fall so you may not need to call them.
- Citibank: Call Citibank on 1300 361 922 or 13 24 84.
- AMP: Call AMP Banking on 133 030.
- Mortgage House: Call Mortgage House on 133 144. In some cases you may have to fax a signed and dated letter to client services on 02 9407 3083
- Investor Retirement Visa (Subclass 405)
- Temporary Business (Long Stay) – Standard Business Sponsorship (Subclass 457)
- Foreign Government Agency Visa (Subclass 415)
- Domestic Workers Visa (Subclass 426)
- Diplomats Visa (Subclass 995)
- Medical Practitioner (Temporary) Visa (Subclass 422)
- Adelaide Bank
- Advantage (Formerly known as Challenger / Interstar)
- AMP
- ANZ
- Australian First Mortgage (AFM)
- Australian Secured and Managed Mortgages (ASMM)
- Australian Unity
- Bank of Queensland (BQLD)
- BankWest (BW)
- Better Mortgage Company (BMC)
- Better Mortgage Management (BMM)
- Bluestone (Risk fee)
- Citibank
- Collins Securities
- Commonwealth Bank of Australia (CBA)
- FirstMac
- Heritage Building Society
- Homeloans Limited
- Homeside Lending
- ING Direct (REF risk fee and LMI)
- La Trobe Financial
- Liberty Financial (LMP risk fee and LMI)
- Loan Ave
- Mainstream Capital
- Merchant Mortgages
- MKM Capital (Risk fee)
- Mortgage Asset Services (MAS)
- National Australia Bank (NAB)
- Paramount Mortgage Services
- Pepper Home Loans (Risk fee)
- RAMS Home Loans
- St George Bank (StG / SGB)
- Suncorp Bank
- The Rock Building Society
- Westpac Bank (WBC)
- Borrower: ABC Pty Ltd As Trustee For The Smith Unit Trust
Mortgagor / property owner: ABC Pty Ltd As Trustee For The Smith Unit Trust
Guarantor: John Smith - Borrower: John Smith
Mortgagor / property owner: ABC Pty Ltd As Trustee For The Smith Unit Trust
Guarantor: ABC Pty Ltd As Trustee For The Smith Unit Trust - Temporary Business (457) (this is the most common subclass)
- Skilled Independent (189)
- Skilled Nominated (190)
- Skilled Nominated or Sponsored (489)
- Business Talent (132)
- Business Innovation and Investment (188, 888)
- Employer Nomination Scheme (186)
- Regional Sponsored Migration Scheme (187)
- A good income: Lenders tend to be quite strict when assessing your means of paying off a 5% deposit home loan, otherwise known as your ‘serviceability ratio’.
- Stable employment history: Although there are exceptions, this usually means that you’ve been working in the same job for the past 6 to 12 months.
- A clear credit history: Your credit file must have minimal credit enquiries and be free of defaults. As a general rule, credit cards, rent and bills like utilities and mobile plans need to have been paid on time for the past 6 months.
- Strong asset position: Lenders will assess your income to asset position relative to your age. It’s assumed, for example, that if you’ve been working full time for a few years that you’ll have a car and a decent amount of savings relative to your income.
- Little to no existing debt: Having more than one credit card and/or personal loans is a red flag for most lenders.
- Proof of 5% in genuine savings: This is usually in the form of consistent deposits into a savings account over a period of 3 months. There are some exceptions to this though.
- Non-traditional property or location: Banks are pretty conservative when it comes to property located in high rise units and small or regional. There are other types of ‘unusual property’ that may see your home loan application declined.
- With a guarantor home loan, you can borrow up to 105% of the property value.
- There are lenders that offer up to 95% LVR home loans.
- Lenders often have exposure limits or other restrictions so most high-net-worth doctors end up having more than one lender to service their needs.
- As you start adding more properties to your portfolio, seek advice about the Loan-To-Value Ratios in your portfolio. There's no one-size-fits-all approach.
- Save thousands of dollars in waived LMI
- Negotiate a competitive interest rate
- See if you can avoid LMI at higher LVRs
- Structure the loan so you can take advantage of LMI waivers and pay off your investment loan faster
- Get free property reports so you know what’s happening in Australia’s property market and see if you can use equity for your investment purchase.
- Find creative solutions to cater for small deposits and short-term ABNs, especially if you’ve transitioned from PAYG to self-employed.
- Do not use multiple accounts, as it can be difficult to track how much you’ve spent on each platform and budget repayments.
- Plan to make sure you have the funds to make payments on time. Set a realistic budget and stick to it.
- Do not link your account to a credit card. A credit card can lead to further debt and incur interest. If you use a debit card, you’re using your own money to pay instalments.
- Set reminders to check there are sufficient funds available when instalments are due. The instalments are automatically deducted from your nominated account. If you have sufficient funds, you avoid late fees.
- Read the fine print. Some companies perform a credit check, and some even report defaults to credit agencies.
- Try not to use these services if you have pressing debts and commitments to pay. You do not want to add more debt when you’re applying for a home loan.
- Try to reduce commitments and make early repayments if you can afford them.
- Do not use BNPL to purchase items and services you can’t afford.
- Tell your bank that you’re using buy now, pay later when applying for a home loan. You will be asked about it to ensure you have a good grasp of your finances and the banks like to avoid surprises when they do a credit check.
- A "land loan" to cover the cost of buying the block of land.
- The construction loan, to cover the building costs.
- An investment loan if you're planning to hold on to one of the properties.
- DA approval from the local council
- Clearing the block of land
- Driveway and landscaping
- Architects
- Engineers
- Legal fees
- The past history of income and how variable it was.
- The likely future reliability of this income.
- If there are any other income sources to support the application.
- The percentage of royalty income that is needed to prove that you can afford the home loan.
- Your partner has a valid temporary visa for Australia (see the temporary visa mortgage page for a list of acceptable visas).
- Your partner is living in Australia or has family ties to Australia.
- You and your partner have children together.
- You're married or have been in a de facto relationship for over two years.
- You're an Australian citizen or PR holder and you're the main income earner.
- Did the credit department accept my application?
- Has the lenders mortgage insurer approved my application?
- What are the conditions of approval?
- Can I satisfy the conditions of approval?
- Can I satisfy the conditions before I make an offer on a property or when going to auction?
- Can I bid at auction in the knowledge my loan will be approved?
- Accountants, including actuaries, finance managers, and auditors.
- Legal professionals, including solicitors, barristers, and lawyers.
- Medical practitioners, such as dentists, veterinarians, and doctors.
- Mining engineers, including surveyors, geologists, and geophysicists.
- We’ve helped many customers who are Australian citizens or dual citizens living overseas who want to invest in the Australian property market.
- We will choose a lender that accepts your situation. This way, you can avoid many of the headaches associated with applying for a loan.
- Most of our services are free.
- We know over 50 banks & lenders.
The second job needs to be in the same line of work so a role as a tutor will typically be accepted.
Some lenders will accept 100% of your income if you can show that you have a 6- to 12-month work history and have been earning a regular income.
If you’re self-employed, you need to have been working for at least 2-3 years and provide your tax returns, Notices of Assessment (NOAs) and an accountant’s letter to verify your income.
Some lenders will consider approval with less than three months’ work history if you’re in a strong financial position with a clear credit history.
It’s best to provide all of your income evidence from both roles, including payslips and tax returns, up front.
- We're not just familiar with bad credit scenarios; we specialise in them, ensuring you get optimal home loan solutions, regardless of your credit history.
- Wherever you are in Australia, our nationwide service ensures you have access to bad credit home loan options.
- Our track record speaks volumes, with a history of securing approvals for challenging loans, even if you've faced bank rejections before.
- With over 60 lenders at our disposal, we navigate through numerous loan options to secure rates that fit your specific situation.
- Benefit from free upfront property valuations and credit reports, aiding in a more informed and safer loan application process.
- Our legal commitment under the Best Interests Duty ensures that your financial well-being is always our priority.
- Our post-settlement team is always on standby, ready to assist, advise, and support you throughout your home loan journey.
Understand your borrowing capacity
Get pre-approval for your loan
Explore the best interest rates and loan options
- Apply for all the grants you’re eligible for
- Make the entire end-to-end process simpler for you
- Help you get a competitive interest rate on your home loan
- Make finding a property easier with suburb reports, and property reports of your choosing
- Order a free upfront valuation
- Help you through settlement and beyond.
- Apply for a guarantor home loan
- Be ready to pay LMI. You can use our LMI calculator to find out how much it costs.
- Apply for government grants and schemes available that help you buy with a lower deposit.
- Use our savings calculator to find out if you can reach your deposit goal.
- Apply with lenders who offer low-deposit home loans.
- First Home Guarantee (formerly known as the First Home Loan Deposit Scheme): For first-home buyers with a deposit of 5%.
- Family Home Guarantee: Single parents with dependants can buy or build a new home with a deposit of just 2% of the property value.
- First-home buyers can get grants and stamp duty concessions
- With a guarantor, you can borrow up to 105% of the property value to buy a home.
- There are low deposit and no deposit home loans available.
- Did the credit department accept my application?
- Has the lenders mortgage insurer approved my application?
- What are the conditions of approval?
- Can I satisfy the conditions of approval?
- Can I satisfy the conditions before I make an offer on a property or when going to auction?
- Can I bid at auction in the knowledge my loan will be approved?
- The percentage of the property value you’re borrowing.
- How reliant you’re on the income from your flatmate.
- What evidence you can provide to show the rent income.
- Investor Retirement Visa (Subclass 405)
- Temporary Business (Long Stay) – Standard Business Sponsorship (Subclass 457)
- Foreign Government Agency Visa (Subclass 415)
- Domestic Workers Visa (Subclass 426)
- Diplomats Visa (Subclass 995)
- Medical Practitioner (Temporary) Visa (Subclass 422)
- Apply for all the grants you’re eligible for
- Make the entire end-to-end process simpler for you
- Help you get a competitive interest rate on your home loan
- Make finding a property easier with suburb reports, and property reports of your choosing
- Order a free upfront valuation
- Help you through settlement and beyond.
- Australia has the world’s highest proportion of households with uptake of rooftop solar energy. As of June 2022, there were nearly 3.2 million installations – about 30% of all homes. Installing a 5kW rooftop solar system saves an average Australian $909 yearly on electricity.
- Research suggests that installing solar systems adds value to the price and rental value of the property. Renters with rooftop solar panels pay $19 more, on average, in weekly rent.
- New homes could be constructed with greater insulation, double-glazed windows and lighter-coloured roofs to reduce future household emissions. The transition to green housing was accelerated at the meeting of the Building Ministers, which resulted in a mandated 7-star minimum Nationwide House Energy Rating Scheme (NatHERS) rating.
- Sustainable housing could add value to a property. Energy-efficient homes could be worth 5-10% more than comparable homes that are not.
- Households are adopting more energy-efficient appliances, heating and lighting solutions.
- Energy retailers offer renewable and carbon-offset products for environmentally conscious customers.
- Lenders have started to offer green home loans to encourage sustainable housing. They are also offering personal loans at discounted rates to retrofit green appliances, add rooftop solar systems and make other green upgrades.
- Inspect properties with people who think differently to you
- Talk to the agent and ask lots of questions
- Consider driving past the property at different times of day
- Use an inspection checklist, take notes and pictures
- Talk to neighbors, look around the street and use Google maps
- Notice if there are other people interested
- If you like a property, then get a pest and building report; if it’s an apartment or townhouse, get a strata report as well.
- We know which lenders will allow you to borrow 100% of the purchase price.
- As most of our brokers have worked for the major banks, we understand how they think.
- Our mortgage brokers can help you formulate your loan application to ensure approval.
- We offer nationwide service.
- The date a credit account is opened.
- Current limit on credit accounts.
- The nature of the credit account.
- The date a credit account is closed.
- 24 months account payment history which will tell the bank whether you paid the minimum amount required on your financial commitments each month or not.
- A "default" is listed on your credit file for being late by 60 days or more and for amounts you owe over $150, which is up from $100. It will still remain on your file for 5 years.
- Lose the opportunity to buy your dream house
- Miss taking advantage of the falling property market
- Be priced out of properties in the near future that you can afford now
- Food and beverage sales.
- Labor costs.
- Food costs.
- Menu and pricing.
- Marketing plan.
- Training and retention programs.
- Get pre-approved for a home loan.
- Request a free upfront property valuation.
- Ensure that the property is acceptable to lenders.
- The pre-approval was worthless because it was an ‘on-the-spot’ or system-generated approval.
- The lenders mortgage insurer declined the application.
- The security of the property was unacceptable.
- The pre-approval expired.
- Your circumstances changed, like a change in job, getting approved for a car loan, or having a baby, so your application has to be reassessed.
- Most lenders tweak their lending policy monthly, so they might approve the loan only if it meets their new requirements.
- If interest rates rise, then the maximum amount you can borrow when getting an unconditional approval could decrease.
- 80% – 85% rental income from the property you are buying.
- Our best lenders will actually use 100% of your foreign income as long as you're in a strong financial position.
- In most cases though, lenders will use between 60% and 90% of your actual income so you may need to bear some money in Australian dollars (AUD) or be earning substantial rental income from Australian real estate.
- In some cases overtime, allowances, commission and bonus income are ignored.
- Income from businesses outside of Australia (case by case basis).
- Australian tax rates even if you are living in a country without income tax (some exceptions).
- Loaded repayments on your foreign loans to allow for interest rate movements (some exceptions).
- Confirming which lenders/mortgage insurers are likely to accept your mortgage application.
- Using the state you're in to calculate the stamp duty on your LMI premium correctly.
- Determining whether you may be eligible for a special discount or waiver.
- The switching process might seem daunting and lengthy, but our mortgage brokers can help you save the legwork. We’ll guide you through the documents and information required to discharge your existing loan.
- We will assess your situation and recommend a home loan product that fits your goal and situation.
- We are legally obligated to operate under Best Interests Duty. We will outline our reasons as to why we’re recommending you the home loan. We will outline the benefits of choosing the recommended home loan and its additional features.
- We have over 50 lenders on our panel, each specialising in niches from bad credit, low doc loans, low deposit, etc. We are experienced in helping borrowers in complex lending situations and know the complicated credit policies of our panel of lenders.
- We let you know upfront how much it would cost when you want to switch lenders or home loan products.
- We can negotiate a competitive interest rate based on the strength of your application.
- Apply for all the grants you’re eligible for
- Make the entire end-to-end process simpler for you
- Help you get a competitive interest rate on your home loan
- Make finding a property easier with suburb reports, and property reports of your choosing
- Order a free upfront valuation
- Help you through settlement and beyond.
- Apply for all the grants you’re eligible for
- Make the entire end-to-end process simpler for you
- Help you get a competitive interest rate on your home loan
- Make finding a property easier with suburb reports, and property reports of your choosing
- Order a free upfront valuation
- Help you through settlement and beyond.
- Assess you both as Australian citizens.
- Assess you both as foreign investors.
- Use the nationality of the highest income earner to determine how to assess your loan
- They have a valid visa for Australia.
- They're living in Australia.
- They have ties to Australia such as family or close relatives.
- You have children together.
- You are married or have been defacto for over two years.
- You're the main income earner.
- The pre-approval was worthless because it was an ‘on-the-spot’ or system-generated approval.
- The lenders mortgage insurer declined the application.
- The security of the property was unacceptable.
- The pre-approval expired.
- Your circumstances changed, like a change in job, getting approved for a car loan, or having a baby, so your application has to be reassessed.
- Most lenders tweak their lending policy monthly, so they might approve the loan only if it meets their new requirements.
- If interest rates rise, then the maximum amount you can borrow when getting an unconditional approval could decrease.
- NSW Farmers.
- Victorian Farmers Federation.
- Queensland Farmers’ Federation.
- Tasmanian Farmers & Graziers Association.
- South Australian No-Till Farmers Association.
- NT Farmers.
- WA Farmers.
- Confirming which lenders/mortgage insurers are likely to accept your mortgage application.
- Using the state you're in to calculate the stamp duty on your LMI premium correctly.
- Determining whether you may be eligible for a special discount or waiver.
- Investor Retirement Visa (Subclass 405)
- Temporary Business (Long Stay) – Standard Business Sponsorship (Subclass 457)
- Foreign Government Agency Visa (Subclass 415)
- Domestic Workers Visa (Subclass 426)
- Diplomats Visa (Subclass 995)
- Medical Practitioner (Temporary) Visa (Subclass 422)
- Inspect properties with people who think differently to you
- Talk to the agent and ask lots of questions
- Consider driving past the property at different times of day
- Use an inspection checklist, take notes and pictures
- Talk to neighbors, look around the street and use Google maps
- Notice if there are other people interested
- If you like a property, then get a pest and building report; if it’s an apartment or townhouse, get a strata report as well.
- Get you incredible interest rates
- Understand your situation to get tough loans approved
- Provide post-settlement services. Our relationship does not end at settlement. We will be with you throughout the life of your home loan
- Provide free upfront valuations and credit reports.
- Lenders often have exposure limits or other restrictions so most high-net-worth doctors end up having more than one lender to service their needs.
- As you start adding more properties to your portfolio, seek advice about the Loan-To-Value Ratios in your portfolio. There's no one-size-fits-all approach.
- Save thousands of dollars in waived LMI
- Negotiate a competitive interest rate
- See if you can avoid LMI at higher LVRs
- Structure the loan so you can take advantage of LMI waivers and pay off your investment loan faster
- Get free property reports so you know what’s happening in Australia’s property market and see if you can use equity for your investment purchase.
- Find creative solutions to cater for small deposits and short-term ABNs, especially if you’ve transitioned from PAYG to self-employed.
- We have published a handy guide which shows the best available Australian interest rates for foreign investors.
- Ensure that you prepare all necessary loan documents, such as payslips, tax returns and an employment letter to prove your income.
- Investors from overseas: If you’re a foreign citizen looking to buy an investment property in Australia.
- Temporary residents: If you’re living in Australia on a temporary visa such as a work visa or a spouse visa.
- Australian expatriates: If you’re an Australian citizen living overseas looking to buy real estate back home.
- NZ investors: If you’re a New Zealand citizen then some lenders have less restrictive lending guidelines.
- Apply for all the grants you’re eligible for
- Make the entire end-to-end process simpler for you
- Help you get a competitive interest rate on your home loan
- Make finding a property easier with suburb reports, and property reports of your choosing
- Order a free upfront valuation
- Help you through settlement and beyond.
- Apply for all the grants you’re eligible for
- Make the entire end-to-end process simpler for you
- Help you get a competitive interest rate on your home loan
- Make finding a property easier with suburb reports, and property reports of your choosing
- Order a free upfront valuation
- Help you through settlement and beyond.
- NSW Farmers.
- Victorian Farmers Federation.
- Queensland Farmers’ Federation.
- Tasmanian Farmers & Graziers Association.
- South Australian No-Till Farmers Association.
- NT Farmers.
- WA Farmers.
- Investor Retirement Visa (Subclass 405)
- Temporary Business (Long Stay) – Standard Business Sponsorship (Subclass 457)
- Foreign Government Agency Visa (Subclass 415)
- Domestic Workers Visa (Subclass 426)
- Diplomats Visa (Subclass 995)
- Medical Practitioner (Temporary) Visa (Subclass 422)
- Inspect properties with people who think differently to you
- Talk to the agent and ask lots of questions
- Consider driving past the property at different times of day
- Use an inspection checklist, take notes and pictures
- Talk to neighbors, look around the street and use Google maps
- Notice if there are other people interested
- If you like a property, then get a pest and building report; if it’s an apartment or townhouse, get a strata report as well.
- Lose the opportunity of buying your dream house
- Miss taking advantage of the falling property market
- Be priced out of properties in the near future that you can afford now.
- Ernst & Young
- KPMG
- Minter Ellison
- Allens Arthur Robinson
- Gadens
- Henry Davis York
- Corrs Chambers Westgarth
- Freehills
- Mallesons Stephen Jacques
- Clayton Utz
- PKF
- PWC
- Deloitte
- McGrath Nicol
- Grant Thornton
- Genuine savings requirement,
- Borrowing power including living expenses and income assessment,
- Credit score,
- Property location, i.e. postcode restriction as any of them could see your application get knocked back!
- An arrears management fee.
- A dishonour fee as a result of insufficient funds in your account to make your repayment.
- A default interest rate on overdue payments.
- Always make sure you talk to your bank. Don't hide from them!
- If you took out unemployment, accident or sickness insurance when you obtained your loan, you may be able to claim on that insurance.
- Seek advice from a professional such as a qualified financial counsellor or financial adviser.
- If managing your money is an ongoing problem then fixing your late payments won't solve the issue! Seek help from a professional.
- Borrow more money, use your credit card or increase your limit: You're simply putting yourself further into the red.
- Borrow money from family and friends: You're not only putting yourself in more debt but you're putting your relationship to the test.
- Consolidate debt or switch home loan products without careful consideration: An experienced mortgage broker can properly assess your situation, weigh up the costs and let you know if you will, in fact, be in a better financial position by doing so.
- NSW: Financial Rights Legal Centre
- TAS: Consumer Credit Helpline
- VIC: MoneyHelp
- WA: Consumer Credit Legal Service
- NT and QLD: National Legal Aid
- Confirming which lenders/mortgage insurers are likely to accept your mortgage application.
- Using the state you're in to calculate the stamp duty on your LMI premium correctly.
- Determining whether you may be eligible for a special discount or waiver.
- Apply for all the grants you’re eligible for
- Make the entire end-to-end process simpler for you
- Help you get a competitive interest rate on your home loan
- Make finding a property easier with suburb reports, and property reports of your choosing
- Order a free upfront valuation
- Help you through settlement and beyond.
- Apply for all the grants you’re eligible for
- Make the entire end-to-end process simpler for you
- Help you get a competitive interest rate on your home loan
- Make finding a property easier with suburb reports, and property reports of your choosing
- Order a free upfront valuation
- Help you through settlement and beyond.
- Ernst & Young
- KPMG
- Minter Ellison
- Allens Arthur Robinson
- Gadens
- Henry Davis York
- Corrs Chambers Westgarth
- Freehills
- Mallesons Stephen Jacques
- Clayton Utz
- PKF
- PWC
- Deloitte
- McGrath Nicol
- Grant Thornton
- Mortgage deferrals (the time differs according to each lender)
- Loan deferrals for small businesses
- Temporary reductions in repayments
- Switch to interest-only repayments for the short term.
- Refinance to a lower interest rate or a better deal to manage your repayments.
- Use the money from your offset or redraw account to manage repayments.
- Release equity to give you cashflow if income is affected.
- Consolidate debt to make repayments manageable.
- Purchases: The LVR is determined on the valuation of the property or the purchase price, whichever is lower.
- Refinances: The LVR is the loan amount as a percentage of the valuation only.
- Construction loans: The LVR is determined on either of the cost (land value plus tender) or the on-completion valuation, whichever is lower.
- 95% LVR: $750,000 (some lenders consider up to $2,500,000).
- 90% LVR: $850,000 (some lenders consider up to $2,500,000).
- 80% LVR: $1,000,000 (some lenders consider up to $4,000,000).
- 70% LVR: $2,000,000 (some lenders consider up to $6,000,000).
- 60% LVR: $2,500,000 (Unlimited loan sizes are available from lenders that don't have exposure limits).
- Maximum LVR of 95%.
- For small towns not listed as Category 1, 2 or 3, a maximum LVR of 90% is applicable.
- If the LVR exceeds 85% then 10% of the purchase price must be evidenced as genuine savings.
- Clear credit history.
- Acceptable income (as per normal guidelines).
- Maximum 90% LVR.
- Maximum of four debts, including the existing home loan can be consolidated.
- Repayment history on all debts must not show any late payments, missed payments, over limits or arrears fees for the prior six months.
- Where funds are released directly to the borrower, equity release parameters are to be observed.
- Maximum LVR of 95% of revised (on-completion) valuation including all improvements. The valuation must be done by a registered valuer, that evidences the successful completion, prior to the final progress payment.
- Examples of acceptable home improvements include replacement or major upgrade of kitchen or bathroom, the construction of swimming pool, garage or carport, extensive landscaping, upgrade or inclusion of a concrete driveway and/or complete re-roofing of premises.
- If the current value of the security property is sufficient to support the proposed loan amount then the funds can be released to the borrower and progress payments may not be required.
- Loans for development finance (construction of more than 2 dwellings on one block of land, purchase of multiple blocks of vacant land in a sub-division, refinancing commercial facilities that have been used to fund development finance or developers gearing up against residual stock to fund next development).
- Vendor Finance (WRAP Finance).
- Refinance of debts to the ATO or other tax debts.
- You must contact a participating lender to assess your eligibility before you lodge an application with Revenue NSW.
- Once you’re successful, you will be informed of the maximum contribution amount from the government. The participating lender will then process your application and offer pre-approval. You will then have three months to find and purchase a home.
- To get final approval, you must provide the participating lender with evidence of eligibility and prove that the government contribution is necessary for you to buy the property.
- Once you have final approval, you will get a written confirmation from Revenue NSW to purchase your home.
- No genuine savings home loans are usually available only for buying a home to live in, not for investment.
- Not available when purchasing vacant land or constructing.
- Max land size with most lenders is 2.2ha.
- Properties in small towns or remote areas may not be considered.
- The ratio of your net disposable income to your total debts should be at least 110%.
- You’ll be able to borrow only up to 95% of the property value up to $650,000 as opposed to $1 million if you had genuine savings.
- Some banks need to see your original payslips, tax returns and other documents prior to loan approval.
- There can be significant delays if you choose a lender that does not have a loan processing system that is designed to handle foreign addresses or foreign phone numbers.
- Many lenders will not approve a loan for more than 80% of the property value.
- Some lenders may require you to sign a formal loan offer at the nearest Australian Consulate.
- Several lenders charge higher interest rates if you are outside of Australia.
- Purchases: The LVR is determined on the valuation of the property or the purchase price, whichever is lower.
- Refinances: The LVR is the loan amount as a percentage of the valuation only.
- Construction loans: The LVR is determined on either of the cost (land value plus tender) or the on-completion valuation, whichever is lower.
- 95% LVR: $750,000 (some lenders consider up to $2,500,000).
- 90% LVR: $850,000 (some lenders consider up to $2,500,000).
- 80% LVR: $1,000,000 (some lenders consider up to $4,000,000).
- 70% LVR: $2,000,000 (some lenders consider up to $6,000,000).
- 60% LVR: $2,500,000 (Unlimited loan sizes are available from lenders that don't have exposure limits).
- Maximum LVR of 95%.
- For small towns not listed as Category 1, 2 or 3, a maximum LVR of 90% is applicable.
- If the LVR exceeds 85% then 10% of the purchase price must be evidenced as genuine savings.
- Clear credit history.
- Acceptable income (as per normal guidelines).
- Maximum 90% LVR.
- Maximum of four debts, including the existing home loan can be consolidated.
- Repayment history on all debts must not show any late payments, missed payments, over limits or arrears fees for the prior six months.
- Where funds are released directly to the borrower, equity release parameters are to be observed.
- Maximum LVR of 95% of revised (on-completion) valuation including all improvements. The valuation must be done by a registered valuer, that evidences the successful completion, prior to the final progress payment.
- Examples of acceptable home improvements include replacement or major upgrade of kitchen or bathroom, the construction of swimming pool, garage or carport, extensive landscaping, upgrade or inclusion of a concrete driveway and/or complete re-roofing of premises.
- If the current value of the security property is sufficient to support the proposed loan amount then the funds can be released to the borrower and progress payments may not be required.
- Loans for development finance (construction of more than 2 dwellings on one block of land, purchase of multiple blocks of vacant land in a sub-division, refinancing commercial facilities that have been used to fund development finance or developers gearing up against residual stock to fund next development).
- Vendor Finance (WRAP Finance).
- Refinance of debts to the ATO or other tax debts.
- A boom is not always the best place to start. Look at when markets are stable and poised for growth. This way, you enter the market when prices are more affordable and can sell when there's a boom.
- When there is a boom, you can use the equity from existing property to grow your investment portfolio
- Take note of early market upswings, not just peaks.
- Waiting for prices to cool down will take time. Investing in property is a relatively low-risk bet, as land is scarce and demand for it will continue to grow.
- The government might announce various schemes and benefits before a downturn, as a buoy for the property market.
- When mortgage interest rates are low, it might be a good time to start saving for a home deposit and entering the market.
- If you already own property, you can use the equity during the boom to pay off your student loans, car loans or other debts.
- Competition is rife during a boom, when prices are high. Make sure you can afford to repay your home loans without any hardships.
- Save as much as you can between signing the contract and settlement.
- Before signing the contract, consider asking your parents if they can act as a guarantor if you’re unable to come up with a larger deposit at settlement.
- Make sure you’re up-to-date with your financials for the purposes of verifying your income at settlement, particularly when it comes to your tax obligations as a self-employed applicant.
- Pay your mobile phone bills, rent and other debt facilities on time to avoid getting black marks on your credit file.
- Organise an appointment with the selling agent or property manager for a private inspection. Only you and the agent should be present during the inspection.
- Online auctions, which are done remotely, so you do not have to be onsite.
- Pre-settlement inspections should be arranged when the lockdown rules are relaxed.
- If your settlement is near and you need to sign the contract of sale, do so remotely or, if possible, defer to when restrictions are removed or weakened. Talk to your conveyancer or solicitor to see what options are available.
- Agency employees/temporary workers with a history of employment in other temp jobs, or
- Temp/agency workers that have just started in a permanent position are all eligible for home loans.
- Partner has a valid visa for Australia.
- Partner is living in Australia.
- Partner has ties to Australia such as family living in Australia.
- You have children together.
- You are married or have been defacto for over two years.
- The Australian citizen or PR holder is the main income earner.
- No genuine savings home loans are usually available only for buying a home to live in, not for investment.
- Not available when purchasing vacant land or constructing.
- Max land size with most lenders is 2.2ha.
- Properties in small towns or remote areas may not be considered.
- The ratio of your net disposable income to your total debts should be at least 110%.
- You’ll be able to borrow only up to 95% of the property value up to $650,000 as opposed to $1 million if you had genuine savings.
- Metricon Homes
- BGC (Australia)
- Meriton Apartments
- ABN Group
- Brookfield Multiplex
- Simonds group
- Henley Properties
- MJH Group
- Burbank Homes
- GJ Gardner Homes
- Mirvac group
- Porter Davis Homes
- Carlisle Home Pty Ltd
- Hickinbotham Group of Companies
- JWH Group
- Masterton
- Pindan Pty Ltd
- Impact Homes Pty Ltd
- L.U. Simon Builders Pty Ltd
- Beechwood
- Look for experienced builders.
- You could ask for contacts of their previous customers and find out their experience and if they were happy with the final product.
- How long have you been building?
- How many packaged homes have you sold?
- Do you have an acceptable level of builder's warranty and insurance?
- What is not included in the fixed price contract?
- Don't commit to buy land or build until you are pre-approved.
- Make sure your lender or mortgage broker is experienced with construction loans.
- Make sure that your land contract and building contract has a subject to finance clause or cooling off period just in case the lender's valuation comes in low or they decline your loan for any other reason.
- Get legal advice from your solicitor before signing a Contract of Sale (land) or a building contract.
- Ask your mortgage broker to calculate your funds to complete (required deposit) for both the land purchase and the construction.
- Have a sufficient deposit because some lenders may require you to use all of your deposit to pay the initial invoices before releasing funds.
- Have funds on standy! Building costs can quickly blow out and a shortfall in the valuation means you'll need to provide additional funds to cover the cost of the construction or land purchase.
- To minimise cost blow-outs and building delays, make up your mind on design, materials, finishes and fittings before you start building.
- Do you have friends who are in the building industry? Get them to guide you through the process of building.
- You're trying to get the council, builder and a lender to work together so expect delays and problems!
- Having a larger deposit always helps. For instance, if you’re borrowing only 80% of the property value, banks are more lenient than if you’re borrowing up to 95%.
- You can mitigate past weak spots in one of the 5 C’s by doing particularly well in that area after the problem occurs. For example, if you have a default on your credit file, it’s a Character issue. To mitigate this, show evidence that you’ve paid rent on time over the last three years, which shows the strength of Character.
- If your lender does not assess bonus income, you can show evidence that you’ve been receiving bonus income for the past five years and get a confirmation letter from your employer that you will receive it in the future. Banks will not believe what you say without the documents and evidence to back it up.
- However, don’t give too many documents, as the lender will scrutinise each one, which could raise more questions.
- Lose the opportunity of buying your dream house
- Miss taking advantage of the falling property market
- Be priced out of properties in the near future that you can afford now.
- Metricon Homes
- BGC (Australia)
- Meriton Apartments
- ABN Group
- Brookfield Multiplex
- Simonds group
- Henley Properties
- MJH Group
- Burbank Homes
- GJ Gardner Homes
- Mirvac group
- Porter Davis Homes
- Carlisle Home Pty Ltd
- Hickinbotham Group of Companies
- JWH Group
- Masterton
- Pindan Pty Ltd
- Impact Homes Pty Ltd
- L.U. Simon Builders Pty Ltd
- Beechwood
- Look for experienced builders.
- You could ask for contacts of their previous customers and find out their experience and if they were happy with the final product.
- How long have you been building?
- How many packaged homes have you sold?
- Do you have an acceptable level of builder's warranty and insurance?
- What is not included in the fixed price contract?
- Don't commit to buy land or build until you are pre-approved.
- Make sure your lender or mortgage broker is experienced with construction loans.
- Make sure that your land contract and building contract has a subject to finance clause or cooling off period just in case the lender's valuation comes in low or they decline your loan for any other reason.
- Get legal advice from your solicitor before signing a Contract of Sale (land) or a building contract.
- Ask your mortgage broker to calculate your funds to complete (required deposit) for both the land purchase and the construction.
- Have a sufficient deposit because some lenders may require you to use all of your deposit to pay the initial invoices before releasing funds.
- Have funds on standy! Building costs can quickly blow out and a shortfall in the valuation means you'll need to provide additional funds to cover the cost of the construction or land purchase.
- To minimise cost blow-outs and building delays, make up your mind on design, materials, finishes and fittings before you start building.
- Do you have friends who are in the building industry? Get them to guide you through the process of building.
- You're trying to get the council, builder and a lender to work together so expect delays and problems!
- Lose the opportunity of buying your dream house
- Miss taking advantage of the falling property market
- Be priced out of properties in the near future that you can afford now.
- We’ve helped many customers who are Australian citizens or dual citizens living overseas who want to invest in the Australian property market.
- We will choose a lender that accepts your situation. This way, you can avoid many of the headaches associated with applying for a loan.
- Most of our services are free.
- We know over 50 banks & lenders.
- Yes! You can apply for a higher loan amount than you actually need in order to purchase an investment property.
- You will need to be able to show that you have a strong financial position to afford the new loan amount and have a clear credit file.
- Your last two years’ tax returns.
- They may ask you for more financial evidence like recent profit and loss statements, if your latest tax return is more than 6 months old.
- Your last 2 years individual and business tax returns and accompanying notices of assessment (NOA).
- Your Australian Business Number (ABN) showing that you’ve been trading for the past two years.
- 95% of the property value to buy a standard property as an investment property.
- 80% of the property value if you’re applying for a company low doc home loan.
- Case by case if you’re buying a commercial property.
- Upfront commission: 0.65% (+GST) to 0.7% (+GST)
- Trail commission: 0.165% (+GST) to 0.275% (+GST)
- Hassle-free experience
- Access to wide range of major banks and lenders
- Service from scratch to the end, from submitting your application to settling your loan and even after settlement
- Access to specialist lending if you do not quite fit into standard policies
- Fast and easy approval because experts are involved
- Tough home loans get approved because they know the best approaches
- Negotiates sharp interest rates and other benefits on your behalf
- Your full name and that of your partner if you’re married or in a de facto relationship
- The address
- Your parents’ signatures, with the date
- Medium-Term or MLTSSL stream (4 years): Borrow up to 90% of the property value as a special exception to standard lending policy with a couple of our lenders.
- Short-Term or STSOL stream (1-2 years): Borrow up to 80% of the property value with one of our lenders.
- Married or defacto with an Australian citizen or permanent resident (PR): Borrow up to 95% of the property value if your partner is an Australian citizen or permanent resident (PR) visa holder.
- Visa expiry: As a general rule, your visa must have over 12 months remaining, however, there are some exceptions.
- Medical professionals: If you’re a doctor or medical professional you may qualify for significantly reduced interest rates and waived Lenders Mortgage Insurance (LMI).
- Legal professionals: If you’re a lawyer or barrister you may qualify for reduced interest rates and waived LMI.
- Deposit requirements: Many banks have reduced their maximum Loan to Value Ratio (LVR) on investment loans down to 80%. This means most banks will need you to have a 20% deposit. If you don't have a sufficient deposit, you'll need to have a guarantor instead.
- Genuine savings: Genuine savings are basically savings you've held or collected in a bank account for three months at least. You'll need to have at least 5% in genuine savings. However, some may require you to have as much as 10% in genuine savings.
- Equity: You may need to have equity in another property if you're borrowing more than 90% LVR.
- Good credit history: Banks prefer borrowers with little to no bad credit records. This also means your credit score needs to be above average.
- Stable employment: Banks will want to see that you can afford the investment loan. This means you'll need to have a strong income with stable employment. If you're self employed or a professional investor, you'll simply need to show a strong stable income. The level of income required depends on the loan amount as well as the bank you apply with.
- 60% LVR for commercial farms. All loans will be assessed case by case using rural farm guidelines.
- 70% LVR for land blocks over 60 hectares or 148.3 acres. All loans will be assessed case by case.
- 80% LVR for land blocks up to 60 hectares or 148.3 acres. Most lenders may not approve your application though.
- 95% LVR for land blocks up to 11 hectares or 27.2 acres. However, some lenders may not let you borrow more than 80%.
- A property can see a huge increase in value when rezoning is announced.
- It can allow you to subdivide your lot or sell it to a developer who can subdivide and build residential unit blocks or commercial and industrial properties.
- Typically for loans less than 80% of the property value (80% LVR).
- Not all properties give a reliable result from a desktop valuation.
- Not available for construction loans.
- Your deposit: Most lenders require you to have saved 5% of the purchase price but some of our lenders will allow for your deposit to come from equity in another property, a personal loan or a gift from your parents or a close relative.
- Investment portfolio: Some lenders will only allow you to borrow 95% LVR if you have equity in another property. However, exceptions can be made.
- Negative gearing: Only some lenders take negative gearing benefits into account so you’ll need a strong income.
- Credit history: Your credit file should be clear of black marks including defaults, judgments, bankruptcy and too many credit enquiries.
- Employment: Being in your current job for 6 to 12 months is a requirement for most lenders but not for all of them.
- Your investment property: Lenders prefer standard properties in capital cities or major regional locations however some lenders can consider exceptions.
- If the property can be used as a home: If the property is a normal house and the zoning allows the property to be converted back for residential use, then you may be able to borrow up to 90% of the property value.
- If you rent out the attached residence: You can borrow up to 80% of the property value with a commercial loan.
- If you live in the attached residence: You can borrow up to 75% of the property value with a special type of commercial loan.
- If you use the property for your business: You can borrow up to 75% of the property value, depending on the strength of your business financials.
- The bigger the loan, the lower the rate!
- Borrowing under 80% of the property value will get you a better rate with some lenders.
- Banks offer better deals on home loans than investment loans.
- Banks will offer a better rate to win a new customer which is why people refinance.
- Investment loans and interest only loans tend to have higher rates but some banks will still negotiate
- Some banks refuse to negotiate if you owe over 80% of the property value.
- Most banks will not negotiate the rate for low doc loans so it's often better to refinance.
- The bank may not have an appetite for your customer type, for example, if you're a non-resident, self-employed or you're a property investor.
- If you've missed payments on your debts, they'll refuse to negotiate so it's better to refinance.
- Banks don't offer their existing borrowers the best rates. They actually punish loyalty!
- You can borrow up to 105% of the purchase price. You and your parents would need to contribute 25%, while the lender will lend you up to 80%.
- Loan term for the family loan: Up to 25 years or you can pay it back early with no fees or break costs applied.
- Mortgage loan term: Standard 25 to 30-year terms available
- Interest rate: You’ll pay a slightly higher interest rate with a specialist lender as well as a margin for the interest rate on the loan from your parents.
- Borrow up to 95% of the property value: You'll need a clean credit file, regular income (casual teachers are accepted), and you'll need to buy a standard residential property in a metro location.
- Borrow up to 110% of the property value: A guarantor loan allows you to borrow 100% of the property value plus the purchase costs.
- Negotiate interest rates: We have strong relationships with major banks and lenders, so we get to negotiate with them to work on getting a a competitive interest rate for you.
- The type of trust: Trusts are assessed in many different ways. Some banks prefer discretionary or family trusts while others are happy with hybrid, property investor and self-managed superannuation fund (SMSF) trusts.
- The trust credit file: The directors and beneficiaries of a trust have credit files but did you know that trustee companies and, in some cases, trusts have a credit file as well? The banks check the file for applications to other banks and for any blemishes.
- The trust deed: The trust deed confirms who the beneficiaries and the trustee actually are. The deed will be checked to make sure that the trustee has the power to apply for loans for the trust.
- The loan structure: Many people choose to have the loan in the name of the trustee or director of the trustee company rather than in the name of the trust. In other words, the director of the trustee company is the borrower while the trust is the mortgagor. This is done to take advantage of negative gearing benefits when using a unit or hybrid trust.
- The beneficiaries: Did you know that some lenders require all adult beneficiaries to be guarantors? Most trusts have two, three or more beneficiaries and these structures can make it difficult to borrow money.
- Switch to a variable rate without paying break fees if interest rates go down during the fixed term.
- Make extra repayments without caps or penalties.
- Split their loan up to four ways and take advantage of an offset sub-account applicable on any variable interest rate portion.
- The type of trust: Trusts are assessed in many different ways. Some banks prefer discretionary or family trusts while others are happy with hybrid, property investor and self-managed superannuation fund (SMSF) trusts.
- The trust credit file: The directors and beneficiaries of a trust have credit files but did you know that trustee companies and, in some cases, trusts have a credit file as well? The banks check the file for applications to other banks and for any blemishes.
- The trust deed: The trust deed confirms who the beneficiaries and the trustee actually are. The deed will be checked to make sure that the trustee has the power to apply for loans for the trust.
- The loan structure: Many people choose to have the loan in the name of the trustee or director of the trustee company rather than in the name of the trust. In other words, the director of the trustee company is the borrower while the trust is the mortgagor. This is done to take advantage of negative gearing benefits when using a unit or hybrid trust.
- The beneficiaries: Did you know that some lenders require all adult beneficiaries to be guarantors? Most trusts have two, three or more beneficiaries and these structures can make it difficult to borrow money.
- 90% of the property value: No genuine savings required.
- 95% of the property value: LMI applies and you must show that you have at least 5% in genuine savings.
- 100% loans: Available with some of our lenders if you have a guarantor.
- 95% of the construction costs: You’ll need to be in a strong financial position, including having a perfect credit history, regular income and genuine savings.
- 80% of the value of the land plus construction costs: Most banks do not lend for cost plus building contracts so the key is to apply with the right lender.
- Borrow up to 100% with a guarantor loan: You can borrow the full costs of construction if your parents are happy to act as guarantors on your construction loan.
- ANZ Discharge Authority Form
- BankWest Discharge Authority Form
- CBA Discharge Authority Form
- NAB Discharge Authority Form
- St George Bank Discharge Authority Form
- Westpac Discharge Authority Form
- Borrow up to 95% of the purchase price: This is on a case by case and the workers’ compensation must be permanent for at least 5 years.
- Borrow up to 90%: If you’re returning to working in less than 2 months and can provide a letter from your employer confirming the date you will return to work, the terms of employment and your income. The funds won’t be advanced until your return to work. On a case by case basis, there are a few lenders who may consider your situation if you're returning to work after 2 months.
- 100% of income protection payments: Some banks will only accept 50% of income protection payments but some of our lenders will use 100% of this income (conditions apply).
- Shorter loan term applies: The home loan must be paid by the time your retire and stop receiving payments. Alternatively, you can provide the lender with a financial planner-approved exit strategy so you have a chance at qualifying for a longer loan term.
- Refinance your mortgage: Depending on your injuries or illness, we can help you to refinance your mortgage and access equity to renovate your home to meet your needs. This includes building ramps or installing railings.
- Permanent disability: The lenders will be more likely to accept this type of income.
- Temporary disability: Considered on a case by case basis depending on the nature of the injury or illness.
- Disability income not ongoing: If you’re not returning to work and your worker’s compensation payments are not set to continue then we cannot assist you with a home loan.
- Borrowing 95% of the property value: investors purchasing a DHA property can apply for a home loan for up to 95% of the property value. You can also borrow additional funds to pay for Lenders Mortgage Insurance (LMI) to a maximum of 97% of the purchase price.
- 90% no LMI: Waived LMI available with some of our lenders when borrowing up to 90% and buying a DHA property as an investment.
- Borrowing 100% of the property value: WIth a guarantor, you can borrow up to 100% of the property value plus the costs of completing the purchase.
- 100% of your rental income less management fees: we know banks that can include 100% of rent less any management fees (normally 16.5%). This means that some banks can accept 83.5% of your rent.
- Borrow up to 105% of the property value: You can borrow the full purchase price of the property including the cost of Lenders Mortgage Insurance (LMI) if your parents can act as guarantors.
- Borrow up to 95% of the property value: You must be in a strong financial position and borrowing within your means.
- Currently pregnant: Expectant children are not classed as dependents so the lender will instead want to know what your financial plans are when on maternity leave and if and when you intend to return to work.
- Children is over 18: Lenders vary in how they assess your borrowing power and it can vary greatly depending on whether your child is financially-dependent on you or not.
- Paying child support: If you are paying child support then this should be included as an expenses but you should put zero children in your application as otherwise this expense will be counted twice.
- Families with more than four children: Larger families may find that lenders vary significantly in the way they assess your monthly expenses so it’s very important that you assess your own living expenses accurately to make sure you borrow a reasonable amount.
- Interest only home loan: You can borrow up to 90% of the property value if you have a good reason for choosing interest only or up to 95% with some of our lenders (strict criteria applies).
- Interest only investment loan: You can borrow up to 90-95% of your investment property value with interest only repayments (select lenders only).
- Interest only term: The maximum available in Australia is 10 years.
- Getting a low rate: Banks load the interest rate for interest only loans anywhere from 0.1% - 0.55%. You’ll also pay more in interest over the term.
- Extending an interest only period: Extending is often declined by a bank if you’ve already had an interest only period in which case you may need to refinance.
- Maximising your borrowing power: Banks use different methods to calculate your borrowing power if your new or existing loans are interest only.
- Existing debt: If the size of your debts, including your current mortgages become greater than your income then you'll end up with a default. It's important that you consolidate any debt before applying for a mortgage.
- Personal circumstance: Sudden events like losing your job, loss of income or failed businesses can drive people to default.
- Change in government legislation: This includes changes to borrowing limits, tax policies, lending policies, tax benefits, or Foreign Investment Review Board (FIRB) laws.
- This general rule applies to land over 60 hectares in size
- For land between 2.2 hectares and 60 hectares and zoned residential, you may be able to borrow between 80% all the way up to 95% of the land value
- For land up to 50 hectares with a house on the block, you may be able to borrow up to 95% of the property value
- For vacant farmland, you're generally restricted to 60% but you may be able to borrow up to 70% if you have a strong situation.
- Minor renovations with a licensed builder: You can typically borrow 95% of the purchase price plus the cost of renovations for cosmetic renovations.
- Minor renovations with no builder: You can usually borrow up to 90% of the purchase price plus the cost of renovations.
- Major renovations: You can usually borrow up to 80% unless you have a contract builder, in which case you can borrow 95% of the purchase price plus the cost of the renovations.
- Knockdown / rebuild: You can normally borrow up to 90% of the land value or 95% of the total land's cost plus construction costs with a licensed builder.
- Knockdown / rebuild with no builder: You can borrow up to 60% of the cost of the land and the renovations if you're doing it yourself.
- No intention to renovate: You can usually borrow up to 80% of the property value depending on property's location and condition.
- Low doc: You can borrow up to 80% of the purchase price plus construction cost.
- Borrow 105% of the property value: If your parents can act as a guarantor, you can borrow the full purchase amount including completion costs.
- Discounts: Competitive professional package and basic loan discounts are available.
- New Auto Masters store: Borrow up to 50-70% of the franchise costs or up to 100% using a residential property as security.
- Loan term: 10 years.
- Loan term with property as security: 25 to 30 years (standard loan term).
- Interest rate: Discounts available depending on the strength of your application.
- Interest only: 2 years or more depending on whether you’re using a residential property as security.
- Business plan: You’ll be required to have an accountant-approved business plan which shows revenue and cash flow forecasts.
- Business experience: The bank and the franchisor would like to see that you have at least 2-3 years experience managing a similar-sized operation.
- Good asset position: This means a strong income and low debt-to-income ratio.
- Low doc options: Not available.
- CBA- MAV package low doc standard variable rate / MAV package low doc rate line of credit residential equity / MAV package low doc standard variable rate / Low doc line of credit residential equity rate / Low doc standard variable rate loan.
- Westpac- Premier advantage low doc rocket repay home loan / Premier advantage low doc variable investment loan / Premium option home loan low doc / Variable rate investment property loan low doc / Low doc variable investment property loan / Low doc equity access loan.
- St George- Professional benefits low doc portfolio loan / Professional benefits low doc / Low doc portfolio loan variable rate / Low doc variable rate.
- Suncorp- Low doc back to basics variable rate / Low doc asset line / Low doc standard variable rate.
- ANZ- Professional benefits standard variable residential land loan / Professional benefits standard variable rate / Breakfree equity manager / Equity manager low doc 60 / Standard variable rate low doc 60 / Professional benefits equity manager.
- NAB- Tailored home loan low doc / National flexi plus low doc.
- And many more.
- Personal loan.
- Credit card.
- Guarantor loan.
- Borrowed deposit from your family.
- Lower interest rates, no upfront fees (usually) and low ongoing fees including monthly and account-keeping fees.
- You become a part owner in the bank and have a say in significant company decisions.
- You get the same consumer protection as if you were applying a major bank.
- Code of Practice: Apart from the Banking Act 1959 (regulated by the Australian Prudential Regulatory Authority), customer-owned banks adhere to COBA's Code of Practice, which sets out '10 Key Promises To You' in relation to acting in the best interests of customers (responsible lending) and the local community and environment.
- Deposits up to $250,000 are covered by an Australian government guarantee.
- Borrowing limited to 90-95% of the property value: This means you'll need a 5-10% deposit as a minimum. Some of our non-mutual bank lenders offer guarantor loans meaning you can borrow up to 105% of the property value or Loan to Value Ratio (LVR).
- Slower settlement times: The time from your application being submitted and the home loan being settled can sometimes blow out to 3 or 4 weeks, particularly if the bank is offering a special interest rate. This compares to average processing times of 2 weeks.
- Nothing outside of the box: What this means is customer-owned banks tend to only deal with customers who have a good deposit, a clear credit history can provide complete evidence of their financial situation, are Australian citizens and work either full time or part time. This is what mortgage brokers call "vanilla" clients and if you fall outside of this definition, you'll likely be declined by these lenders.
- bankmecu: Australia's first mutual bank
- Community First Credit Union: The largest credit union operating throughout Sydney and the Central Coast region
- Border Bank: Services employees of the Australian Customs and Border Protection Service
- G&C Mutual Bank: Formerly SGE Credit Union
- Heritage Bank: The largest customer-owned bank in Australia.
- P&N Bank: Formerly known as a the Police & Nurses Credit Society, P&N is WA's largest locally-owned bank
- Police Bank: Customs Bank is a division of Police Bank
- Teachers Mutual Bank: Formerly the Hornsby Teachers Association Credit Union
- Investor: 80% of the property value
- Low doc: 60% of the property value
- Construction: 80% of the property value
- Discounts: Competitive professional package and basic loan discounts are available.
- Investor: 65% of the property value.
- Low doc: 60% of the property value
- Construction: 70% of the Gross Realisation (the on completion value) or 80% of the hard costs (land value plus construction costs), whichever is less.
- Discounts: Competitive professional package and basic loan discounts are available in some cases.
- Investor: 70% of the property value (up to 80% on a case by case basis for very strong applicants).
- Low doc: 60% of the property value.
- Discounts: Competitive professional package and basic loan discounts may be negotiated with the lender for larger loans.
- Investor: 70% of the property value.
- Low doc: 60% of the property value.
- Discounts: We have access to specialised commercial lenders who can consider approving your loan at close to the residential Bank Standard Variable Rate, which is far less than a commercial rate.
- Doctors, dentists, vets, optometrists and pharmacists.
- Accountants (CPA preferred), including actuaries, finance managers and auditors. Please see the page for specific income requirements.
- Legal professionals including solicitors, barristers and lawyers. Please see the page for specific income requirements.
- Professional athletes including NRL players, AFL players, soccer players, cricketers, basketballers, motorsports drivers, cyclists, tennis players and Olympians.
- Entertainment professionals and celebrities including DJs, actors/actresses, musicians, models, photographers, filmmakers, journalists, presenters, producers, directors and writers/authors.
- Mining engineers including surveyors, quantity surveyors, geologists and geophysicists, aren't eligible for waived LMI however, depending on your income position, you may qualify for significant interest rate discounts.
- Other high income professionals are eligible for interest rate discounts (see below).
- Your full name, date of birth, gender, address, previous address, drivers licence number, employer and previous employer.
- Records indicating the timeliness of the last two years' repayments for your current debts.
- Company directorships.
- Loans that you have applied for in the last five years are listed as enquiries.
- Loans or accounts where you are more than 60 days overdue are listed as defaults.
- Court judgments.
- Court writs.
- Bankruptcy history (including Part IX history).
- Buy now pay later accounts and transactions
- Defence Force Retirement & Death Benefits Scheme (DFRDB).
- Commonwealth Superannuation Corporation (ComSuper).
- Military Superannuation & Benefits Scheme (MilitarySuper).
- Borrow up to 95% of the property value or up to 105% with a guarantor.
- Interest rate discounts.
- Negotiated interest rate discounts that aren't offered to the general public.
- Waived Lenders Mortgage Insurance (LMI) for loans up to 90% of the property value.
- Higher mortgage exposure limits when purchasing multiple properties so you can rapidly grow your investment portfolio.
- You must be earning a minimum of $120,000 – $150,000 per annum*
- Your home loan can be in the name of a company or trust structure.
- You are borrowing up to 80% of the value of your property.
- Your credit history is clear (some exceptions are made).
- You have made your payments on time every time for the last 6 months (some exceptions are made).
- You must have an ABN.
- If you are releasing equity then you may need to provide evidence of the purpose of your loan.
- You must provide either BAS, an accountant's letter or business bank statements to verify your income.
- Borrowing money for business, investment or personal purposes are accepted.
- Borrowing limits subject to truck valuation.
- Standard trucks, trailers and semi-trailers are more likely to be accepted.
- Your financials must show evidence of a profitable business (low doc options available).
- You need at least 3-5 years business experience.
- Some lenders will accept minor defaults (typically up to $7,000) but black marks must be clear from your credit file.
- A director's guarantee, and a fixed and floating charge (Bill of Sale) over the vehicle will be used as security.
- 5-7 year loan terms.
- Some lenders offer negative equity rollover when you trade-in.
- Fixed rate principal and interest (P&I) payments (interest only not available).
- Business Line of Credit, overdraft facilities and offset accounts are available.
- Balloon or residual payment structures available (typically up to 30% of the vehicle value) to reduce your repayments.
- Better Affordability Apartments are more affordable entry points into the housing market. The Domain House Price Report for June 2021 states that the median apartment price was just $609.642; whereas, for houses, it was $994,579. For first home buyers on a smaller budget, or anyone looking to spend less on a property, an apartment is definitely a less costly option. Paying less for the home leaves extra money to put towards other priorities. The lower price also helps first home buyers hop on the property ladder sooner, as it takes less time to save a smaller deposit.
- Less Maintenance Another benefit of owning a unit is that the cost of building repairs, maintenance and insurance is shared. This brings three advantages: 1. Fewer additional costs 2. With good building management comes greater potential for higher future value 3. You don’t have to spend time mowing the lawn or tending to the garden To learn more about similar costs you can avoid, contact our specialist mortgage brokers at 1300 889 743 or fill in our online assessment form to have them contact you.
- Security Security varies from building to building. Having said that, it is usually better in apartments. There are usually several safeguards to bypass to get to your apartment door. Many houses do not offer such protection.
- Appeal To More Buyers Apartments are popular among many types of buyers, including downsizers and investors. When you finally decide to sell your apartment, the target buying audience will be broader. This creates competition and drives the price higher.
- Extra Facilities When you buy a house, you buy just a house. But when you buy an apartment, you often get access to many other facilities as well. Some apartments give you access to a whole host of facilities in your building complex. This could include a pool, gym, playground, tennis courts, and even a shared garden. Learn more to get a clear understanding between buying an apartment and buying a home.
- If the court writ is unpaid, you may be required to have a good explanation.
- The larger your deposit, the better chance you have in getting your loan approved.
- Dividends – ASX listed companies
- Dividends – Private company (conditions apply)
- Managed fund income
- Interest income
- Royalties
- Annuities
- Rent income
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- Payment History – 35%
- Credit Utilisation – 30%
- Length of Credit History – 15%
- New Credit Accounts – 10%
- Credit Mix – 10%
- The agreed loan amount.
- Annual interest rate.
- Your repayments on a monthly, fortnightly and weekly basis.
- You don't need a deposit.
- You usually don't need to pay LMI (Lenders Mortgage Insurance).
- Some lenders offer discounted interest rates.
- You can consolidate minor debts such as personal loans and credit card.
- You can limit the size of your guarantee.
- First home buyer: 95% of the property value.
- Investor: 95% of the property value.
- Low doc: 80% of the property value.
- Construction: 95% of the total cost of the land and contract price to build the duplex.
- Guarantor loans: Borrow up to 100% with select lenders only.
- Discounts: Competitive professional package and basic loan discounts are available.
- You owe less than 80% of the property value on your home: Depending on the value of your home and your loan balance, you may be in a position to release equity as a deposit to buy a new property.
- Your lender will allow you to refinance: Accessing equity requires you to refinance your home loan so be aware that you may incur a break cost when changing your loan terms within a fixed period.
- You have sufficient cash flow: Property is typically a more secure investment but it is not set-and-forget so be sure that you have savings in place or funds in your offset account to cover unexpected costs such as maintenance and repairs.
- Your financial situation will remain unchanged: Depending on your income situation, consider whether immediate plans can be put on hold including taking holidays, changing jobs, having another child, repairing or extending your home, or buying a new car.
- Borrow up to 105% of the property value: You need a guarantor to be able to do this.
- Borrow up to 95% of the property value: Some lenders will use 100% of your redundancy payment on a case by case basis.
- You need to be currently employed.
- You'll need to have a clear credit history and repayment history.
- Department of Veteran Affairs - Service and Age Pension.
- Department of Veteran Affairs - War Widow's or Widower's Pension.
- Others may be acceptable if they are considered to be permanent and ongoing.
- Have net assets of over $1,000,000.
- Have current loans, or applications to apply, for over $2,000,000.
- Have a sound knowledge of property investing and a proven strategy.
- Borrow up to 80% of the purchase price.
- Borrow up to 65% of the purchase price with reduced interest rates.
- Borrow up to 80% of the value of any other properties that you own (including residential).
- Borrow up to 80% of the property value.
- Borrow up to 100% of the value of any residential properties that you own (the loan must be for business purposes).
- Investment loans: 95% of the property value.
- Low doc (no income evidence): 80% of the property value.
- Discounts: Competitive professional package and basic loan discounts are available.
- First home buyer: 85% of the property value.
- Investor: 85% of the property value.
- Guarantor mortgage: 100% of the property value plus costs.
- Low doc: 60% of the property value (80% is available if you have BAS statements to support your income).
- Discounts: Competitive professional package interest rates available.
- 95% of the purchase price.
- 105% of the property value if you have a guarantor.
- Normal bank policy and lending restrictions apply.
- Construction loans are available if you want to get in on the ACT Land Rent Scheme.
- You can borrow up to 90% of the property value or up to 80% of the land value.
- Council-approved: The property must be approved as a Class 1a structure (inhabitable dwelling) by the local council.
- Land size up to 10 to 50 ha: Borrow up to 90% of the property value.
- Land size up to 60 ha: You can borrow up to 80% of the property value.
- Land size up to 100 ha: You can borrow up to 70% – 80% of the property value on a case by case basis.
- Land size over 100 ha: Land at this size may be classed as a commercial farm but you can avoid higher interest rates if you can show evidence that the land isn't "income-producing".
- Guarantor: If your parents or a relative can act as guarantor on your mortgage, you can potentially borrow up to 105% of the property value.
- Discounts: Competitive professional package and basic loan interest rate discounts are available for blocks that are up to 100 ha in size.
- First home buyer: 85% of the property value.
- Investor: 85% of the property value.
- Guarantor loans: Borrow up to 100% with select lenders only.
- Low doc: 80% of the property value (case by case).
- Discounts: Competitive professional package and basic loan discounts are available.
- Up to 90% of the value of your property if you don’t have enough equity.
- Up to 100% of the granny flat value if you have enough equity or you can use a guarantor.
- Up to $1,000,000 of equity with full evidence of the loan purpose.
- Accessing the equity in your property.
- Taking out a construction loan.
- Buy a new store or existing: Borrow up to 50-60% of total business costs or up to 100% with an existing residential property as security.
- Loan term: 10 years (as per the franchise agreement).
- Loan term with property as security: 25 to 30 years (standard loan term).
- Interest only: Around 2 years or more depending if you're using property as security.
- Low doc options not available.
- We can help negotiate strong interest rates.
- You'll need to provide a business plan and profit forecasting along with your application.
- Specialised Expertise: Our brokers have developed a unique skill set to address the individual challenges Nepali borrowers face. Our approach to service delivery respects and accommodates the unique cultural nuances and preferences of our Nepali clients, fostering an atmosphere of mutual respect and understanding.
- Communication In Your Language: We deliver all crucial information, valuable resources, and expert advice in Nepali, Newari, and Hindi, ensuring clarity and understanding. This strategy helps break down language barriers, empowering borrowers to comprehend each aspect of the mortgage process fully.
- Extended Support: Our commitment to our clients extends well beyond the point of loan settlement. We provide ongoing support, assisting with a broad range of future financial decisions and addressing any loan-related queries that might arise over time.
- Accessible Across Australia: Regardless of your geographical location within Australia, our dedicated team is always available to assist you on your journey towards home ownership. We have designed our service model to be accessible and effective nationwide.
- Expansive Loan Options: Through the power of our wide-ranging networks and comprehensive knowledge of the Australian mortgage market, we offer an extensive array of loan options. With over 50 lenders on our panel and access to hundreds of mortgage products, we can confidently guide you towards the most suitable solutions for your circumstances.
- Land size up to 10 ha: You can borrow up to 95% of the property value.
- Land size up to 50 ha: Up to 90% of the property value if you are close to a major town, otherwise you can borrow 80% of the property value.
- Land size up to 60 ha: Borrow up to 80% of the property value.
- Land size up to 100 ha: Borrow up to 70% – 80% of the property value on a case by case basis.
- Land size over 100 ha: At this size, banks will often see it as "income-producing" even if that isn't your purpose. It's best to speak to us if your intention is for lifestyle and nothing more.
- Commercial farms: For land that you intend to use for commercial farming, loans are usually limited to a maximum of 60% of the property value.
- Guarantor loans: Borrow up to 100% with select lenders only.
- Discounts: Competitive professional package and basic loan discounts are available for rural properties that are up to 100 ha in size.
- Power lines are more than 50 metres from the boundary: Borrow up to 95% of the property value with select lenders.
- Power lines are above the property: You can borrow up to 80% on a case by case.
- Power lines within 50 metres of the boundary: Borrow up to 80% on a case by case basis.
- In many cases, valuation risk ratings and the property valuer's comments will affect the outcome.
- Borrow up to 105% of the property value with a guarantor home loan.
- Monitor your interest rate: To ensure you're still getting a competitive interest rate, our brokers complete an annual mortgage review and either renegotiate your interest rate with your lender or refinance your home loan.
- Explain your home loan features: Our brokers help you understand your repayment schedule and how to best use your home loan features.
- Provide a property valuation: We can organise a free property valuation in 12 months' time so you can see how your home is performing and whether you're in a position to access equity for investment.
- Guide you through the construction loan process: For existing customers looking to build a property, we can help you manage the progress payments to ensure you avoid penalties and delays in the building process.
- Refinance your bad credit home loan: If you have on a low doc bad credit loan, or you were otherwise approved with a high-interest rate specialist lender, our post-settlement team will let you know if you can refinance back to a prime lender at a lower rate.
- New or existing gym: Borrow up to 50% of total business costs or 100% with an existing residential property as security.
- Loan term: Typically 10 years or the length of franchise agreement.
- Loan term with property as security: 25 to 30 years (standard loan term).
- Low doc options not available.
- Interest rate discounts available.
- Refinance of an existing site: Accepted on a case by case basis.
- Investment loans: 95% of the property value.
- Low doc (no income evidence): 80% of the property value.
- Discounts: Competitive professional package and basic loan discounts are available.
- Strong employment: Ideally, the banks prefer that you have spent more than a year in your current job. If you are self-employed, lenders prefer over two years of consistent work in your business.
- Proven genuine savings: You need to have saved or held a minimum of 5% of the purchase price for at least 3 months prior to applying for a loan.
- Good asset position: Your debts need to be in very good order and easily serviceable. As little debt as possible is ideal.
- Good credit score: In particular, no defaults are permitted and you must not have too many enquiries on your credit file. You can use a Credit score calculator online to find out your score.
- Good quality single security property in a prime location: Ideally, a house or unit in a capital city. Due to the restrictions of the mortgage insurers you may need to own multiple properties as security.
- Your last two payslips and most recent group certificate to confirm your income.
- Alternatively, an accountants letters confirming your income (if you're self-employed, although other low doc options are available).
- Your last 3 months bank statements and credit card statements (the latter, if applicable).
- Your most recent statement for any current debts you have including personal loans or car loans (if applicable).
- Get a cheaper interest rate and lower your monthly repayments.
- Reduce your overall loan amount so you can pay off your loan faster and maximise your available equity.
- Access equity to buy an investment property, renovate, build and more.
- Bring your high-interest debts like credit cards, personal loans and car loans into a debt consolidation home loan.
- Save your home if your home loan is currently in arrears.
- Refinance from a specialist lender back to a major lender after you’re past your bad credit issues.
- Take advantage of tax benefits.
- Refinance to a home loan product that helps you pay off your home loan faster.
- Refinance to grow your business.
- Borrow up to 95% of the property value and avoid paying thousands of dollars in Lenders Mortgage Insurance (LMI) fees.
- Borrow up to a maximum loan size of $4.5 million.
- Access signficantly reduced interest rates that aren’t available to the general public.
- Rapidly build an investment property portfolio thanks to higher exposure limits.
- Take advantage of flexible approval criteria if you're a new graduate.
- Your home loan must not exceed 95% of the purchase price (95% LVR).
- You must be a member of the Australian Pharmacy Council or another acceptable medical association.
- All pharmacists are accepted as long as you are fully qualified and working full-time.
- There is no minimum income requirement but your application must meet standard bank policy including being a good financial position and having a clear credit file.
- First home buyer: 80% of the property value for loans over $1,000,000 and 75% of the property value for loans over $2,000,000.
- Investor: 80% of the property value for loans over $1,000,000 and 75% of the property value for loans over $2,000,000.
- Guarantor loans: Borrow up to 100% with select lenders only.
- Low doc: 60% of the property value for loans over $1,000,000 (no maximum).
- Discounts: Competitive professional package and basic loan discounts are available. We usually negotiate with several lenders to find the best possible offer based on your situation.
- Self-employed Uber driver: Borrow up to 95% of the property value.
- Uber driving as your second job: Borrow up to 95% depending on how much of your Uber driver income we can use.
- Investment loans and owner-occupied home loans available.
- You won't be charged a higher interest because you're self-employed, or Uber driving is your second job.
- If you have 5% in genuine savings: You can borrow up to 95% of the property value as long as you don't borrow more than 105% of the purchase price.
- If you don't have any savings: You can borrow up to 90% of the property value as long as you don't borrow more than 105% of the purchase price.
- Guarantor mortgage: Borrow up to 105% of the property value.
- Low doc: 60% of the property value (80% is available in some circumstances) as long as you don't borrow more than 100% of the purchase price.
- Discounts: Competitive professional package and basic loan discounts are available.
- Interest only offset account: You can borrow up to 90% of the value of your investment property value with interest only repayments.
- Interest only term: Generally 5-10 years.
- Extending the interest only term: This will often be declined so you may have to refinance in order to do so.
- Loaded interest rate: The bank will generally load or add another 0.1% to 0.55% to their advertised interest rate. Higher rates may apply for loans under $500,000.
- Good financial position: You need to be in a strong financial position and be in a position to make principal and interest (P&I) repayments when your loan invariably switched from interest only.
- Interest only offset accounts for a home loan: May be considered in certain cases.
- CBA: Viridian Line Of Credit
- RAMS: Line Of Credit
- NAB: NAB Home Equity Line Of Credit
- AMP: Professional Package Line Of Credit
- First home buyer: 95% of the property value.
- FIFO worker: 95% of the property value.
- Investor: 95% of the property value (restrictions apply).
- Guarantor loans: Borrow up to 100% with select lenders only.
- Low doc: 60% to 80% of the property value.
- Discounts: There are competitive professional package and basic loan discounts available.
- New or existing fresh mex grill: Borrow between 50-70% of the total costs to buy the business or up to 100% with an existing residential property as security.
- Loan term: Typically 10 years or the length of the franchise agreement.
- Loan term with property as security: 25 to 30 years.
- Interest only: Typically 2 years.
- You'll need to provide a business plan and profit forecasting along with your application.
- There are no low doc options on offer.
- We may be able to negotiate interest rate discounts depending on the strength of your deposit and security.
- New or existing store: Borrow up to 60-70% of the total business costs or 100% with an existing residential property as security.
- Loan term: 10 years or up to 30 years with a property as security.
- Low doc options not available.
- The bank will require a business plan with cash flow forecasting.
- You'll need to have at least 3 years experience in a similar industry.
- Reduced commercial interest rates available for strong cases.
- Size: The unit must be over 50m² including balconies and car spaces.
- Location: High rise apartments can be considered on a case by case basis.
- Loan amount: You can borrow up to 80% of the property value.
- Guarantor loans: Borrow up to 100% with select lenders only.
- You must meet all other standard lending criteria.
- You’re borrowing more than $500,000.
- You have a clear credit history.
- You must have a strong income.
- You’re employed as a university lecturer for at least 3 months. Most lenders require that you are employed as a university lecturer for at least 6 months, but we can a lender on our panel that will accept 3 months.
- Multiple credit enquiries
- Defaults
- Discharged bankruptcy
- Judgment
- Court writs
- Debt agreements (Part IX)
- Tax (ATO) debts
- Debt consolidation
- Mortgage in arrears
- ANZ: $5,000 per annum OR 5% of the original loan amount, whichever is the lesser.
- CBA: $10,000 p.a.
- NAB: $20,000 during the fixed rate term.
- St George: $10,000 p.a.
- Rams: $30,000 during the fixed rate term.
- Westpac: $30,000 during the fixed rate term.
- Specialist fixed rate lender*: Unlimited as long as the loan account is not closed during the fixed rate term
- Specialist fixed rate lender 2*: Unlimited as long as the loan account is not closed during the fixed rate term.
- 80% of the property value with a low doc loan: That’s if you can’t provide the necessary documents to take out a full doc loan. Keep in mind, you may have to pay a slightly higher interest rate in most cases.
- 90% of the property value: Depending on the type of employment contract you have with your employer, you can borrow up to 90% plus LMI (lenders mortgage insurance) with a standard bank loan. LMI is a one-off fee charged by the lender when borrowing over 80% of the property value.
- 95% of the property value: Subcontractors will only be allowed to take out 95% of the property value with evidence of a strong financial position and a job history of at least 6 to 12 months in your current position.
- 100% of the property value: With a guarantor home loan, you can borrow the entire value of the property plus additional costs like stamp duty.
- 95% of the property value: In exceptional cases, we can accept a short term ABN up to 95% where the applicant has previous experience in a similar PAYG role, and we can prove your income. Self-employed contractors with 2 years of Tax Return, 2 years of ABN, and who’ve been in the same industry for 3 years or more can borrow more (stricter lending criteria applies).
- Self-employed for at least two years, however some lenders can consider self-employed with one year ABN and tax return.
- Ideally, you should have 80% equity in your property, however some lenders can consider refinancing up to 95% of the property value (conditions apply).
- You can refinance on a fixed rate if you find that you’re likely to recoup the cost of early exit fee within the first two years of refinancing.
- Defence Home Ownership Assistance Scheme (DHOAS): This is available to members currently and formerly serving in the military. This scheme provides monthly payments to assist both current and former members in paying their home loan. Eligibility for this scheme depends on the length of time served.
- Home Purchase Assistance Scheme (HPAS): Under this scheme, ADF members are paid a one-off taxable lump sum amount. This is intended to help pay for the costs of taking out a home loan, including application and conveyancing fees.
- A good credit history in Australia.
- Stable employment.
- An ability to repay the loan and pay for your living expenses without relying on funds from your parents.
- Net assets worth more than $1 million
- Current loans or applications to apply for over $2 million
- An investment strategy in mind as well as significant investment experience
- Borrow up to 70% of the value of a commercial property (even on an SMSF bad credit loan).
- Borrow up to 80% of the value of a residential property.
- Borrow up to $10 million (higher on a case by case basis).
- Loan terms of up to 15 years for commercial security properties.
- Interest only repayments for up to 5 years (15 years for residential properties).
- Discounted interest rates are available from some lenders.
- Last years' financial statements (Profit & loss and balance sheet).
- Last years' business tax returns.
- Last years' personal tax returns.
- Last years' notices of assessment.
- Your old tax returns must show a high income.
- You must show two years of tax returns & financial statements.
- Your tax return must be no more than two years old (see below).
- You can borrow up to 90% of the property value.
- do not provide materials, only your labour.
- do not have employees.
- work for one main company only.
- can provide invoices and bank statements to verify your income.
- are borrowing no more than 90% of the property value.
- Two years financial statements are required.
- Borrow up to 80% of the property value.
- This is a full doc loan, not a low doc loan, so the rate is competitive.
- The financial statements must be accountant prepared and not a draft.
- You do not need to provide tax returns or a notice of assessment.
- New or existing restaurant: Borrow up to 50% of total business costs or 100% with an existing residential property as security.
- The bank will generally require a business plan and profit forecasting for the franchise.
- Loan term: Typically 10 years or the length of the franchise agreement.
- Loan term with property as security: 25 to 30 years (standard loan term).
- Low doc options not available.
- Commercial rate discounts available by mortgage broker negotiation.
- Existing SumoSalad store: Borrow up to 50% of the franchise costs or up to 100% depending on the equity that you have in your residential property.
- New store: Considered on a case by case basis.
- Loan term: 5 years (as per the SumoSalad franchise agreement).
- Loan term with property as security: 25 to 30 years (standard loan term).
- Interest rate discounts available.
- Interest only: 2 years or more depending on whether you’re using a residential property as security.
- Business plan: You’ll be required to have an accountant-approved business plan which shows revenue and cash flow forecasts.
- Good financial situation: You should currently be earning a good income with little to no debt and a clear credit file.
- At least 2-3 years managerial experience in a similar-sized business and industry.
- Low doc options: Not available.
- Doctors and select medical professionals including dentists, optometrists, veterinarians, chiropractors or pharmacists (exclusive interest rate discounts are also on offer).
- Other white-collar professionals including accountants, lawyers, geologists and other mining specialists, professional athletes and entertainers. Minimum income benchmarks and other requirements apply.
- Borrowers purchasing a Defence Housing Australia (DHA) property as an investment.
- By asking your parents to act as guarantor on your home loan, you can actually borrow 100% of the property value, plus the purchase costs and avoid mortgage insurance completely.
- With no deposit, you'll save thousands, and by avoiding LMI, you'll save thousands more!
- Borrow up to 95% of the property value including the cost of Lenders Mortgage Insurance (LMI)
- You will need to provide full details of your TAC payments.
- 100% of income protection payments: Some banks will only accept 50% of income protection payments but some of our lenders will use 100% of your TAC benefits as your deposit (conditions apply).
- Permanent disability: The lenders will be more likely to accept this type of income.
- Your minimum loan amount must be $250,000 (excludes line of credit).
- You must have a credit card with the bank and you'll be required to make a purchase within 30 days of settlement.
- You must also have a transaction account with the bank and you'll need to make a salary or equivalent income credit deposit into the account within 30 days.
- Conditions vary depending on whether you choose the cash back or the frequent flyer points.
- The declaration must be signed by a fully qualified accountant who can confirm that your annual net income is true and correct.
- Must be on the accountant’s letterhead. If it is a low doc declaration, the banks have specific forms for the accountant to complete instead of a letter.
- Must show the accountant’s full details including ABN, address and phone number.
- Letter must be signed and dated.
- The accountant should specify how long he/she has acted on behalf of the borrower.
- The accountant should also mention that the current financials are not available, but based on their knowledge of the client’s current circumstances, the figure is not an unreasonable estimation of their annual gross income.
- The taxable income the borrower is earning.
- A disclaimer to protect the accountant.
- New or existing bakery: Borrow up to 50% of total business costs or 100% with an existing residential property as security.
- Bakers Delight holds head lease: You can potentially borrow up to 65% of the franchise business value.
- Loan term: Typically 10 years or the length of the franchise agreement.
- Loan term with property as security: 25 to 30 years (standard loan term).
- A business plan and profit forecasting will be required for approval.
- Low doc options not available.
- Negotiated nterest rates available.
- The date a credit account is opened and closed.
- The type of credit you applied for whether it's a credit card, personal loan or a mortgage.
- Current limit on credit accounts including any recent increases you may have made to your limit.
- Your 24-month account repayment history showing whether you've made the minimum payment required or not.
- Payments that are more than 2 weeks overdue are now listed as late repayments and remain on your credit file for 2 years.
- Basic information such as your full name, date of birth, gender, address, previous address, drivers licence number, employer and previous employer.
- Loans that you have applied for in the last five years are listed as credit enquiries.
- Loans or accounts where you're more than 60 days overdue are listed as defaults.
- Court judgments.
- Court writs.
- Bankruptcy history (including Part IX history).
- 90% waived LMI: Some major banks waive the cost of mortgage insurance when you borrow up to 90% of the property value. LMI usually kicks in at 80%, so it’s usually worthwhile applying through your bank.
- Interest rate discounts: If you’re borrowing under 80% of the property value or don’t have waived LMI, you can get a better deal from another bank.
- Residential property as security: Borrow up up to 80% of the total franchise costs of a new or existing shop.
- Commercial property as security: Borrow up up to 60% of the total franchise costs.
- Loan term: 10 years as per the franchise agreement or lease agreement (whichever is shorter).
- Loan term with the property as security: 25 to 30 years (standard loan term).
- Interest only: Typically 2 years.
- Discounted interest rates available.
- Low doc options not available.
- First home buyer: 95% of the property value.
- Investor: 95% of the property value.
- 100% loans: Available with some of our lenders if you have a guarantor.
- Low doc: 80% of the property value.
- Discounts: Competitive professional package and basic loan discounts are available.
- Australia doesn't have very restrictive investment laws or banking regulations like some other countries.
- Most bank regulations in Australia are nation-wide not state by state.
- Mortgage brokers in Australia often provide free services for residential loans.
- Investment loans are highly-leveraged which means you can maximise your potential returns by only having to provide 5-10% of the property value as deposit upfront.
- There are many tax benefits you can take advantage of if you have the right strategy in place and get the right financial advice.
- Borrow up to 95% of the property value to buy an investment property.
- Borrow up to 95% of the property value plus the cost of renovation work using a licensed builder (conditions apply).
- If your parents can act as a guarantor, you can borrow up to 105% of the property value leaving with more cash to undertake capital improvements.
- Under 12 months remaining on scholarship: We may be able to help you borrow up to 80% of the property value, and possibly more on a case by case basis. Most lenders will not accept your income in their assessment.
- >12 months remaining on scholarship: You can borrow up to 90% of the property value (95% for very strong applications).
- >12 months remaining on scholarship with a guarantor loan: You can borrow up to 105% of the value of the property. This allows you to borrow the stamp duty as well (if not exempt in your state).
- Up to 2.2 hectares (5.4 acres): Up to 95% of the property value.
- Up to 11 hectares (27.2 acres): Up to 95% of the property value (note that some lenders would restrict your loan to 80% of the property value).
- Up to 60 hectares (148.3 acres): Up to 80% of the property value (note that most lenders would decline your loan but some specialise in hobby farms).
- Up to 97 hectares (240 acres): Up to 80% of the property value.
- Over 97 hectares: On a case by case basis.
- Commercial farms: Up to 60% of the property value (all loans are assessed on a case by case basis using rural farm guidelines).
- Guarantor loans: Borrow up to 100% with select lenders only.
- If there's a house on the block: If there's a house on the land already, then you may be able to borrow 95% of the property value for properties up to 50 hectares in size.
- For 2 dwellings: Borrow up to 95% of the land and construction costs (hard costs).
- For 4 dwellings: Borrow up to 80% of the land and construction costs (hard costs).
- Borrow up to 100% of the market value of the property plus any costs associated with completing the purchase with the help of a guarantor.
- Borrow up to 70% of the land and construction costs (hard costs).
- Borrowing more than 70% is possible with a private lende but they will charge a higher interest rate than the commercial rates we can negotiate.
- You need to meet 70% of the GRV (gross realisation or on completion valuation).
- A profit margin of at least 20% of costs is the minimum bank feasability requirement.
- Loan term: Up to 3 years.
- Minimum loan size: $1,000,000.
- Maximum loan size: Anything over $20 million considered on a case by case basis.
- Borrowing at higher LVRs means you'll pay a higher interst rate with a private lender.
- Residual stock loans are available to help maximise your return on investment.
- We can help you qualify for a commercial development loan for such projects as multi-unit residential blocks, small office buildings and retail shops.
- Write down what you think you spend per month, even if you're not 100% sure.
- Download your last 3 months bank statements (and credit card statements, if applicable) and start adding your expenses together.
- Note down discretionary spending where you can either reduce or eliminate your expenses without it impacting your basic living costs.
- Exclude such items as rent or board (they're fixed expenses), personal loans and regular deposits into a savings account because they're not ongoing expenses.
- Exclude one-off expenses such as money that you lent to a friend or family member.
- Must be dated less than four weeks from the date of application (old payslips are not accepted).
- Must show the date range that you’re being paid for as well as your pay day.
- Must include your name as the employee, your YTD income, the name of your employer and your employer’s Australian Business Number (ABN) and/or Australian Company Number (ACN).
- Must show your taxable income and net income
- All deductions are explained including tax, high education debt (HECS-HELP), superannuation contributions and any debts you’re paying direct from your pay such as salary packaging expenses.
- New or existing store: Borrow up to 60%-70% of the business value or up to 100% with equity in a residential property you own.
- Loan term: In line with the lease or up to 30 years with a property as security.
- Low doc options not available.
- Interest only: 1 year or up to 3 years depending on how much you’re borrowing.
- Business plan: It should detail your cash flow and revenue forecasts for the next 5 years at least.
- You’ll need to have at least 3 years experience in a similar industry.
- Our mortgage brokers may be able to negotiate reduced commercial interest rates.
- Your last two payslips.
- Your latest group certificate.
- Your last 3 months savings in a bank account.
- A residential property with adequate equity.
- 75% LVR up to a loan amount of $2,500,000
- 70% LVR up to a loan amount of $5,000,000
- 60% LVR for high rise or inner-city apartments
- If you're married to an Australian citizen, then you might be able to borrow more.
- Pros: Using your own property as security is the simplest and least complex way to qualify for a 100% commercial loan. The bank will be more likely to go along with it as well!
- Cons: You will tie up equity in your property that you could potentially use to fund a small business purchase or to buy an investment property.
- Pros: You can free up your equity and invest it back into the business as cash flow if you ever need extra funds in the coffers.
- Cons: The guarantor will be liable to pay back your loan should you default on your mortgage repayments. When it comes to commercial property guarantor loans, the guarantor will only be liable to pay back around 20-40% of the loan amount. However, when it comes to business loans (which would otherwise be unsecured), the guarantee will stay in place until the business loan is paid off meaning the guarantor will be liable for the entire loan amount.
- Can go up tp 100% waived LMI for self-employed doctors
- Accepts rental income for servicing
- Free valuations for properties worth up to $5 million
- Business banking available for medico loans
- Upfront fees are applicable, but there are no ongoing annual fees
- Provides business loans to help build your practice
- Can self-insure for up to 95% LVR
- All temporary visas are accepted if your spouse is an Australian or New Zealand citizen
- Only provides LMI waivers for medical professionals
- There are some postcode restrictions; category 4 locations are not accepted.
- Does not offer cashback
- Does not do SMSF loans
- Does not provide guarantor loans
- You can borrow up to 95% of the property value with some lenders.
- You can get the same interest rates as a borrower who saved a deposit themselves.
- Lenders Mortgage Insurance (LMI) will apply for home loans over 80% LVR (Loan To Value Ratio) however you avoid paying this cost upfront by capitalising the amount.
- You still need to meet all other standard qualifying criteria including a strong enough income to afford the loan, minimal debt and a clear credit history.
- You can borrow up to 95% of the property value with some lenders.
- You'll generally need to lodge a plan of survey report with your state's relevant land and titles office.
- Legal and title search fees will apply.
- Borrow up to 95% of the property value to buy a home or up to 105% of the purchase price with a guarantor.
- Borrow up to 95% to buy an investment property.
- You need to have been in your job for at least 6 to 12 months but this isn't a requirement with all lenders.
- You may be required to provide a current employment contract if you're employed through an agency or subcontractor.
- Discounted interest rates are available.
- Mining engineer discounts: Waived Lenders Mortgage Insurance (LMI) and negotiated rates available to eligible mining professionals.
- Your home loan must be for $1 million or less.
- Lenders prefer standard residential properties in metro locations and won't generally accept vacant land, construction, acreages or construction without charging LMI.
- Your credit file must be free of black marks.
- You need to be in a generally good financial position with stable employment.
- For an optometry format system: Borrow up to 70% of the set-up costs or 60% for a new store.
- For an OPSM full format system: Borrow up to 60% of the set-up costs or 50% for a new store.
- Term of the franchise loan: 5 years as per OPSM's franchise agreement.
- Using residential property as security: You can get a standard loan term between 25-30 years.
- Interest only: 2 years or more depending on if you're using residential property.
- Financial situation: You should currently be earning a good income with little to no debt and a clear credit file.
- Business plan: You'll be required to have an accountant approved business plan which shows revenue and cash flow forecasts.
- Low doc options: Not available.
- Interest rate: Reduced business loan rates available depending on the strength of the application and your Loan to Value Ratio (LVR).
- Borrow up to 70% of the property value: Lenders will accept equity in residential property or standard commercial property as security.
- Max loan term: 7 years (exceptions apply to strong borrowers).
- Acceptable security: Residential property and non-specialised commercial properties such as office space, a warehouse, factory or a storage unit.
- You can generally borrow up to $100,000 (higher amounts available for low risk borrowers).
- You need to be in a strong financial position and have a clean credit history.
- You need a business loan proposal that details the purpose of the equipment finance.
- Your loan has a variable interest rate which can move up and down.
- There is a maximum interest rate, effectively limiting your risk.
- You benefit when interest rates drop yet can be protected if interest rates rise significantly.
- Cap your rate for up to three years, after which you can recap, fix or switch to a variable rate.
- Borrow up to 95% with waived LMI: Borrow up to 95% of the property value and avoid Lenders Mortgage Insurance (LMI).
- Borrow up to a maximum loan size of $4.5 million.
- Access significantly reduced interest rates that aren’t available to the general public.
- Rapidly build an investment property portfolio thanks to higher exposure limits for high net worth investors.
- Take advantage of flexible approval criteria for new graduates.
- First home buyer: 95% of the property value (restrictions apply) or up to 105% with a guarantor.
- Investor: 95% of the property value.
- 100% loans: Available with some of our lenders if you have a guarantor.
- Low doc: 80% of the property value.
- Discounts: Competitive professional package and basic loan discounts are available.
- Set a realistic budget and be prepared to act quickly when you find a property that meets your needs.
- Being ready to make offers with minimal contingencies, such as a very short finance clause or cooling-off period.
- Being willing to pay fair market value for a property, as finding bargains is increasingly rare in the current market
- Attending numerous open houses (50+ if possible) to become familiar with all available properties in your chosen region.
- Requesting property reports to gain confidence and ensure you have all the necessary information. We can help you get a free upfront property valuation report. Call us on 1300 889 743 to find out how.
- Employing a buyer's agent, but if that's not feasible, then
- Making friends with local agents who might help you find off-market properties.
- Having a conveyancer in place so homebuyers can feel confident about making their offers.
- Interest only for homeowners: Borrow up to 80% of the property value (conditions apply).
- Interest only for property investors: Borrow up to 90% of the property value.
- Interest only rate: Depends on the strength of your application and the lender's general appetite.
- Loan term: 5-10 years.
- Fixed and variable rates available: The fixed or variable rate term (whatever you choose) must match your interest only term.
- New or existing restaurant: Borrow up to 60% of the business value.
- Borrow up to 100% with an existing residential property as security.
- Loan term: Typically 10 years or the length of the franchise agreement.
- Loan term with property as security: 25 to 30 years (standard loan term).
- A business plan and profit forecasting will be required for approval.
- Low doc options not available.
- Commercial interest rate discounts available by negotiation.
- Borrow up to 95% of the purchase price: The income protection payments must be permanent for at least the next 5 years.
- 100% of income protection payments: Some banks will only accept 50% of income protection payments but some of our lenders will use 100% of this income.
- Lump sum payments acceptable: There are lenders that will accept income protection insurance that has been paid out as a lump sum rather than ongoing payments.
- Refinance available: We can help you release equity from your property so you can amend the home to your needs such as installing ramps, lifts or railings, depending on the nature of your injuries.
- Shorter loan term applies: The home loan must be paid by the time your retire and stop receiving payments. Alternatively, you can provide the lender with an exit strategy that you've discussed and signed off with your financial planner in order to qualify for a longer loan term.
- Permanent disability: The lenders will be more likely to accept this type of income.
- Temporary disability: Considered on a case by case basis depending on the nature of the injury or illness.
- Most of our mortgage brokers are ex-bank credit managers.
- We specialise in getting tough loans approved.
- You'll need to know what LVR means to use this guide.
- This page contains standard lending policy but we have access to specialised lenders that can consider making exceptions.
- Natural person (over the age of 18).
- Company.
- Trustee of a Trust.
- Any multiple or combination of the above borrowers.
- Limited liability companies.
- Associations.
- Clubs.
- Minors (under the age of 18).
- Borrowers of convenience (borrowers that receive no benefit from the loan).
- Non-residents such as people living outside of Australia or someone living in Australia but is a temporary or permanent resident rather than a citizen.
- NZ citizens living in NZ: Borrow up to 90%.
- Other non-residents: Borrowing up to 70% LVR is available.
- Home or investment loans up to 90% LVR: No genuine savings required for 90% home or investment loans.
- Home loan over 90% LVR: 5% genuine savings required for 95% mortgages or above.
- Investment loan over 90% LVR: 10% genuine savings required for 95% investment loans or above.
- Low doc loan: 20% genuine savings required.
- No genuine savings loan: You won't need to provide genuine savings and you can borrow at any LVR (note that this product is only available from some lenders).
- Funds held or accumulated in savings accounts for 3 months or more, or
- Funds saved in First Home Saver Accounts, or
- Equity in residential property, or
- Proceeds from the sale of a property, or
- Term deposits held for 3 months or more, or
- Shares held for no less than the last 3 months, or
- A rental history showing payments on time for 3 - 12 months, or
- Lenders may allow a gift / inheritance from your parents or a loved one as a deposit.
- Being in a stable job: Showing that you’ve been working in your current job for 6 months or in the same line of work for 2 years is a good indication to the bank that you can manage your repayments (not all lenders require this work history).
- Showing a positive credit file: Some will accept small paid utility defaults and other minor miss payments if your application is otherwise strong.
- Having minimal current debt: Showing a 6 month history of paying your bills, rent and credit cards on time will work in your favour when applying for a 10% deposit home loan.
- Having a strong income: You’ll need to meet the banks’ serviceability ratio, which is basically an assessment of your ability to continue to make home loan repayments.
- Holding 5% of the deposit as genuine savings: Most commonly, regular deposits into a savings account over a period of 3 months will meet the ‘genuine savings’ requirement that most lenders have. Despite this, there are no genuine savings home loans available if you meet certain requirements.
- Spouse visa: If you are married to an Australian citizen or permanent resident then you may be entitled to borrow up to 95% of the purchase price.
- Temporary visa: You may get approval for a home loan for up to 95% of the purchase price. The banks will assess your asset position, visa class and income.
- Permanent resident: You may be considered by some banks as an Australian citizen and may be eligible to borrow up to 95% of the property value.
- Borrow up to 80% of the property value: This means the entire cost to switch or refinance your loan must be no more than 80%.
- Standard residential property: Most lenders prefer standard properties in metro locations as security for your SMSF loan.
- Standard commercial property: Standard commercial properties like an office unit, a warehouse or a factory can also be considered.
- Negotiated interest rates: Available with select lenders and low-risk borrowers.
- Interest-only: Available to low-risk borrowers (not borrowers nearing retirement).
- Loan term: 30-year loan terms available.
- Liquidity requirements: You typically need to have 10-20% of the property value in liquid assets after settlement, but some lenders don't have a liquidity requirement.
- Investment loans: 95% of the property value.
- Low doc (no income evidence): 80% of the property value on a case by case basis.
- Discounts: Competitive professional package and basic loan discounts are available.
- Finance lease: The lender purchases the equipment and leases it to you for an agreed term.
- Commercial hire purchase: This is also called asset purchase and is similar to a finance lease except your business immediately owns the equipment once the final payment is made.
- Novated lease: A novated lease gives your employees an option to lease a vehicle of their choice and retain ultimate responsibility for it while you make the lease payments by making deductions on their pre-tax income.
- Chattel mortgage: The equipment is owned by the business but will be used as the primary security against the mortgage.
- Sale and hireback / sale and leaseback: Generally, this type of finance is only available with equipment purchased in the last three months.
- New or existing Autobarn store: Borrow up to 60% of the franchise costs or 100% using an existing residential property as security.
- Loan term: Typically 10 years or the length of the franchise agreement.
- Loan term with property as security: 25 to 30 years (standard loan term).
- Interest rate discounts: Available by negotiation by your mortgage broker.
- Must be of good character: Low doc and bad credit options not available.
- Past experience and business plan needed. Actual requirements vary from lender to lender.
- You can qualify for the same interest rates as an Australian citizen.
- Some lenders will use the tax rate of the European country you're residing in, as opposed to Australian tax rates, which can greatly improve your borrowing power.
- Loans available for purchase, refinance, investment property or to buy a house and land package.
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- A letter from your accountant.
- BAS statements. In some cases, affiliate marketers' income is from overseas. This means that the income is GST free. The trouble with this is that the income may not show up on the BAS Statement at all. Lenders may also ignore the income as a result of this.
- 6 months of bank statements showing what income you have received.
- ALL NRAS: If your company is not listed then we can finance up to 80% of the property value.
- 4 Walls Ltd: 90% of the value of the property.
- Affordable Housing Consulting Pty Ltd (AHC): 90% of the value of the property.
- Affordable Management Corporation (AMC): 90% of the value of the property.
- Aspire: 90% of the value of the property.
- Brisbane Housing Company (BHC): 90% of the value of the property.
- Community Housing Canberra Ltd (CHC): 90% of the value of the property.
- Ethan Affordable Housing: 90% of the value of the property.
- Evolve Housing: 90% of the property value.
- Loddon Mallee Housing Services: 90% of the property value.
- Providence Housing Pty Ltd: 90% of the value of the property.
- Quantum Housing Group (QHG): 90% of the value of the property.
- Queensland Affordable Housing Consortium (QAHC): 90% of the value of the property.
- Questus: 90% of the value of the property.
- Urban Affordable Housing Association (UAHA): 90% of the value of the property.
- Tremplin Ltd: 90% of the value of the property.
- Yaran: 90% of the value of the property.
- Other schemes: We can lend up to 80% of the property value.
- Construction loans: Building a new investment property for use under an NRAS scheme is acceptable, as long as the consortium / scheme that you are using is accepted by the bank.
- 100% loans: Available with some of our lenders if you have a guarantor.
- Low doc loans: N/A.
- Discounts: Competitive professional package and basic home loan discounts are available.
- Borrowing limits subject to a valuation of the vehicle.
- There is generally a 4.5-5 tonne weight limit (some lenders also offer truck and trailer finance depending on your needs).
- Standard cars, motorcycles, vans and utes are preferred.
- Lenders will consider new vehicles or collectibles.
- Your financials must show evidence of a profitable business (low doc available).
- You need at least 3-5 years business experience.
- Some lenders will accept minor defaults (typically up to $7,000) but black marks must be clear from your credit file.
- A director's guarantee, and a fixed and floating charge (Bill of Sale) over the vehicle will be used as security.
- 5-7 year loan terms.
- Some lenders offer negative equity rollover when you trade in your vehicle.
- Fixed rate principal and interest (P&I) payments (interest only not available).
- Business Line of Credit, overdraft facilities and offset accounts are available.
- Balloon payments available (typically up to 30% of the vehicle value) to reduce your repayments.
- A good income: Basically, the bank wants to see that you have the means to make your mortgage repayments relative to the amount that you’re borrowing.
- A good asset position: The amount of assets you own should be in proportion to your level of income and how long you’ve been working. A low asset position raises questions about how well you manage your money.
- A credit file clear of black marks: Having a good credit history is a reflection of your character as a borrower. Having 6 month track record of paying your bills, credit cards, personal loans and other debts on time will mean you have a much better chance of getting approved.
- A good job history: Although an employment history of at least 6 months is required, some lenders can make exceptions if your situation is otherwise strong.
- A deposit that meets the genuine savings rule: With most lenders, at least 5% of your deposit must come from genuine savings. There are lenders that don’t have this requirement though.
- 95% of the property value with select lenders, whether you're a first home buyer or an investor.
- 80% of the property value with a low doc loan.
- 105% with select lenders using a guarantor loan.
- The amount you're borrowing will need to be partly-secured by your parents home.
- Most lenders require your parents to be part owners in your home.
- Your parents need to provide an income guarantee.
- Typically, 100% of your base income and 80% of partnership income will be considered (evidence required.
- This varies between lenders and, if it’s beneficial to do so, we may push to have you assessed as self employed.
- Some lenders require tax returns from the law firm if you own more than 25%.
- For firms that operate internationally, the currency of the bonuses may affect the percentage used by lenders.
- Lawyers are highly sought after by select lenders and will offer you 90% waived LMI and discounted interest rates that will save you thousands off your home loan.
- 80% of the property value: Anyone who’s in Australia on a work visa can borrow 80% with select banks who are happy to work with foreign citizens living in Australia.
- 90% of the property value: Mortgages for up to 90% of the property value are available as a special exception to normal bank criteria.
- 95% of the property value: Mortgages for up to 95% of the property value are available if your partner is an Australian citizen or permanent resident.
- Visa expiry: As a general rule, your visa must have over 12 months remaining but there are some exceptions to this.
- Medical professionals on a 457 visa: Special home loan deals including interest rate discounts and Lenders Mortgage Insurance (LMI) waivers are available on a case by case basis.
- You have at least a year remaining on your visa.
- Most of your savings are already in Australia.
- You have a stable job in a sought after profession.
- Your home loan should be 80% or less of the property value. Some lenders can allow for up to 90%, but strict lending criteria apply.
- There must be a valid and strong reason for choosing to refinance to interest only. Here are some acceptable reasons for refinancing to interest only.
- You must be in a strong financial position to afford the principal and interest repayments once the interest only period ends.
- You should have a strong credit history with timely repayments and a clean credit file.
- First home buyer: 95% of the property value (restrictions apply).
- Investor: 95% of the property value.
- Low doc: 80% of the property value.
- Discounts: Competitive professional package and basic loan discounts are available.
- Guarantor loans: Borrow up to 105% of the property value by using a guarantor.
- Existing store: Borrow up to 50-70% of total business costs or up to 100% with an existing residential property as security.
- Loan term: 10 years or as per the franchise agreement.
- Loan term with the property as security: 25 to 30 years (standard loan term).
- Interest only: Typically 2 years.
- Low doc options not available.
- Discounted interest rates available.
- First home buyer: 95% of the property value (restrictions apply).
- Investor: 95% of the property value.
- Low doc: 80% of the property value on a case by case basis.
- Discounts: Competitive professional package and basic loan discounts are available.
- Assess your current situation by calculating where you will stand if rates rise and helping you find solutions that will put you in a better financial position.
- Refix, revert or switch lenders if your fixed term is ending. A mortgage broker can complete a pricing request to determine the best option.
- Help you refinance to a lender that offers you a competitive interest rate. Do not stay loyal to your current lender if the loan does not fulfill your needs.
- Negotiate with your lender on your behalf to get you a competitive deal.
- Show you options to help you work out whether a fixed or variable home loan would be best for you.
- Help consolidate debts to make them manageable.
- Make use of an offset to lower interest paid.
- New or existing juice bar: Borrow up to 50-70% of total business costs or 100% with an existing residential property as security.
- Loan term: 7 years (as per the franchise agreement).
- Loan term with property as security: 25 to 30 years (standard loan term).
- Interest only: Around 2 years or more depending if you're using property as security.
- Low doc options not available.
- We can help negotiate strong interest rates.
- 80% of rental income: Banks will use 80% of future rent because they assume that the remaining 20% will be used to pay for property management fees, council rates, strata levies, repairs and to cover for periods of vacancy.
- Vacant land: Some lenders will consider rent income on a “To Be Erected” house if you have a construction contract in place.
- During the building process: The lender that’s providing your construction loan will likely use the lower your rental appraisal from a real estate agent and their on completion valuation.
- It is an option you can choose when applying for a fixed rate loan.
- The lender will charge a rate lock fee (up to 0.20% of the loan amount).
- The interest rate that you applied for is locked in so you are not affected if rates move before your loan is advanced.
- Short application form (provided by your broker).
- Three forms of identification such as a driver's license, passport, and Medicare card.
- NSW: front page
- QLD: first two pages
- VIC: particulars page
- SA: first two pages
- WA: Offer & Acceptance (both pages)
- ACT: front page
- NT: all pages
- TAZ: front page
- Most recent statement and a transaction history for the last three months for your savings account.
- If you're using a gift as part or all of your deposit, then please use our templates for completing a gift letter declaration.
- Two years’ tax returns or recent payslips
- Letter from your employer.
- You can borrow up to 95% of the property value or up to 100% using a guarantor.
- 3 months in your job: Some of our lenders will use 80% of your overtime income.
- 2 years in your job: Some of our lenders will use 100% of your overtime income if it is consistent.
- Essential service workers: Some lenders will use 100% of your O/T if you've been in your job for 3 months or more (see below for more details).
- Overtime is a condition of my employment: This can help us use a higher amount of overtime with more lenders.
- Healthcare including doctors, nurses and medical professionals.
- Frontline and key workers in healthcare, outpatient, residential care, social assistance and disability support services.
- Police Officers, Fire Fighters and Rescue Employees.
- Paramedic and Ambulance Officers.
- Australian Border Force Employees.
- Australian Defense Force Employees.
- Corrective Services employees within correctional centres, detention centres and prison services.
- Primary and Secondary teachers along with Pre-school educators for kindergarten and child-care services.
- Borrow up to 95% of the purchase price: We know lenders that will accept lump-sum payments, overseas combat bonuses, defence force subsidies and other benefits that you receive as a member of the ADF when they assess your income. This increases your borrowing power. Lenders mortgage insurance (LMI) will apply.
- Discounted interest rates: Discounted interest rates might be available on a case by case basis.
- ADF interest rate subsidies: The monthly subsidy you may be eligible for is equivalent to 37.5% of the median interest expense on the portion of the loan that is being subsidised, calculated over 25 years, regardless of the term of the mortgage. The proportion of your home loan that is subsidised varies depending on your level of service and other factors.
- Government home buyer benefits: You may be eligible for further assistance under the Home Purchase Assistance Scheme (HPAS) or the Home Purchase or Sale Expenses Allowance (HPSEA).
- Investment loans: Borrow up to 80% and get interest-only (I/O) for up to 5 years with select lenders.
- Loan term: Up to 20 years without warlike service and up to 25 years if warlike service is completed.
- Construction: Government subsidies can be combined with a construction loan, improving your borrowing power. Variable interest rates are available and interest only repayments on offer from one of our lenders.
- Guarantor: Government subsidies can also be combined with a guarantor loan, improving your borrowing power.
- You have a low credit score.
- You have no credit history / you have never borrowed before.
- You need to borrow up to 95% of the property value.
- You have had a bad history with your current bank.
- You have too many credit enquiries.
- You have changed jobs recently.
- You have moved house recently.
- The location of the property / type of property is unacceptable to your bank.
- You have a problem with your Equifax Score (previously VedaScore) or credit file with Veda Advantage and need to borrow no more than 90% of the value of the property.
- First home buyer: 95% of the property value.
- Investor: 95% of the property value.
- Low doc: 80% of the property value.
- Guarantor: With a guarantor, you can potentially borrow up to 100% of the purchase price plus the costs of stamp duty, legal fees and other settlement costs.
- Rates: Competitive interest rates on both basic and professional packages are available.
- Multiple townhouse units: If you're buying a townhouse development, check out the multiple units on one title page for more information.
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Borrow up to 90% of the property value: Save thousands of dollars by avoiding the cost of LMI. Maximum loan size is $2 million.
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Borrow up to 95% of the property value: LMI will apply but you can still get a heavily discounted interest rate if you have stable employment and a high net worth. No maximum loan size applies.
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Interest rate: Discounted interest rates available.
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Minimum income: $150,000 as base salary but lenders will accept 100% of any rental income that you’re generating if required for approval.
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No genuine savings required: Only when borrowing at 90% LVR (Loan to Value Ratio) or less.
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Security: Buy for both owner occupied and investment purposes.
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Interest only term: Up to 15 years.
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Income protection may be required: Depends on loan size.
- Borrow up to 95% of the purchase price: This is on a case by case and the workers' compensation must be permanent for at least 5 years.
- 100% of income protection payments: Some banks will only accept 50% of income protection payments but some of our lenders will use 100% of this income (conditions apply).
- Shorter loan term applies: The home loan must be paid by the time your retire and stop receiving payments. Alternatively, you can provide the lender with a financial planner-approved exit strategy so you have a chance at qualifying for a longer loan term.
- Refinance your mortgage: Depending on your injuries or illness, we can help you to refinance your mortgage and access equity to renovate your home to meet your needs. This includes building ramps or installing railings.
- Permanent disability: The lenders will be more likely to accept this type of income.
- Temporary disability: Considered on a case by case basis depending on the nature of the injury or illness.
- New or existing Telstra licensed store: Borrow between 50-70% of the total costs to buy the business.
- Loan term: 5 years (as per the franchise agreement).
- Loan term using property as security: 25 to 30 years.
- Interest only: Typically 2 years.
- A business plan is required: This includes a local market analysis and cash flow forecasting.
- No doc loans: Not available.
- Reduced interest rates: Discounted rates below "set" business loan interest rates on offer subject to your deposit size and application strength.
- Borrow up to 70% of the property value: You must have available equity in a residential property or standard commercial property.
- Max loan term: 7 years (exceptions apply to strong borrowers).
- You can generally borrow up to $100,000 (higher amounts available for low risk borrowers).
- Alternative business financials can be considered.
- You need a clear credit file.
- You need a business loan proposal that details the purpose of the equipment finance.
- It yields tax benefits by allowing the losses from negatively geared properties to offset taxable income, thereby reducing the overall tax liability.
- The strategy operates on the premise that rental income will eventually increase in the future, making short-term losses a calculated risk for future income.
- It enables diversification of portfolios by including tangible assets like real estate, known for its historically strong growth.
- Increased investment exposure, facilitated by access to additional funds, which aids portfolio diversification.
- Tax-deductible interest payments on margin loans further enhance the attractiveness of this strategy.
- Tax benefits through income and capital gains distribution, determined at the trustee's discretion and tailored to the terms of the trust deed.
- Asset protection from potential legal actions, creditors and taxes.
- Streamlined wealth distribution, ensuring that assets are managed in the best interest of beneficiaries, shielding properties from creditor claims if beneficiaries face financial difficulties or legal disputes.
- The use of equity from existing properties as equity for investment loans to purchase additional properties.
- Multiple cashflow streams and portfolio growth.
- Expedited portfolio expansion, as leveraging allows investors to accumulate properties more rapidly than saving for full property purchases, with down payments being the primary requirement. This method helps build equity and facilitates a quicker portfolio growth trajectory.
- You need a much smaller deposit to get approved for a home loan.
- There is no interest charged on the LMI premium.
- You will simply pay off the LMI along with your normal mortgage repayments.
- You can get the same interest rates as a normal borrower.
- Your parents may be in a position to act as a guarantor so you won't need a deposit and can avoid the cost of LMI altogether.
- In some states you may qualify for a first home owners grant which may be enough to cover the shortfall.
- If you're on a high income with no or very few debts, you may qualify for a personal loan to cover these extra costs.
- 80% of the property value if the property only has access to bore water or groundwater.
- 95% of the property value if the property also has access to tank water or town water.
- 100% of the property value including the purchase costs if you can use a guarantor.
- Your credit history must be clear of any blemishes such as court writs, judgments and defaults.
- If you’re an industry professional such as a doctor, lawyer, an accountant or an engineer, you’re more likely to qualify. Specific income requirements apply.
- You can’t borrow more than 90% LVR. Lenders will also want proof of a yearly income of more than $150,000 although it may vary from lender to lender.
- If you’re not a professional or you don’t meet the above income requirements then you’re limited to borrowing 85% LVR in order to qualify for LMI discounts.
- You complete a short application form and send it to us along with your payslips and some other required documents.
- One of our specialist mortgage brokers completes an assessment of your situation and identifies what the banks will see as a problem.
- We prepare a report for you to let you know what you need to do to qualify for a loan.
- When you are ready to buy a property then we will lodge your application on your behalf.
- When your loan is advanced our prepare to buy fee is refunded to you in full.
- Australian citizens and permanent resident (PR) visa holders living in France may be able to borrow up to 90% of the property value.
- You can qualify for the same interest rates as an Australian citizen.
- Self-employed borrowers may be able to borrow up to 80% of the property value.
- Loans are available for purchase, refinance, investment property or to buy a house and land package.
- If you’re a dual citizenship holder or you’re married to a French citizen, some lenders may unfairly treat you as a foreigner. So, choosing a lender that favours expats is essential to borrowing at the maximum Loan-to-Value Ratio (LVR)
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- There is less competition during the holiday season. Families usually postpone buying a property during the holidays, as parents want to spend time with their children or are busy with Christmas shopping. You might be able to negotiate a lower price on the house, especially if the seller feels the pressure of less demand in the market. There might be fewer people bidding on the property you’re eyeing.
- Usually, the holidays bring a lull in listings, some sellers are motivated to make a deal before the property market slows down for Christmas.
- If the seller assumes that Christmas is not a good time to sell, then they might offer their property at a lower price to attract buyers.
- You might get flexibility from sellers who are motivated for a quick settlement. This can happen if the seller already has another property or if the property you’re considering has been on the market for too long.
- You might even get lucky if other buyers drop out due to Christmas.
- Real-estate agents and mortgage brokers want to get a deal done before the holidays start. So they’re motivated to help both the sellers and buyers before the lead-up to Christmas.
- Sellers might consider a low offer, as they’ll want to sell their property before the holidays begin. They know that if it’s not sold before Christmas, it will remain in the market until mid-January, when the market picks up again.
- Sellers become more realistic about the prices they’ve set and are willing to offer a discount to sell.
- Existing store: Borrow up to 50-70% of total business costs or up to 100% with an existing residential property as security.
- Loan term: 10 years (as per the franchise agreement).
- Loan term with the property as security: 25 to 30 years (standard loan term).
- Interest only: Around 2 years or more depending if you’re using property as security.
- Low doc options not available.
- Discounted interest rates available.
- Review your last 3 months transaction statements and statements for any ongoing debts such as your credit card and mobile phone bill.
- Find out what living expenses categories you'll need to declare and sort your expenses into these categories.
- Separate any recent one off expenses because these can be explained to the lender and excluded from the living expenses assessment.
- Average how much you're spending per month to get a more accurate figure.
- Make a note of spending in areas where you can easily reduce or cut your expenses in the knowledge that you will soon be making mortgage repayments.
- From this, you will be able to provide a much more accurate estimate of your monthly expenses.
- For land and houses in Tasmania we can finance up to 95% of the property value.
- For houses on other islands we can finance up to 80% of the property value.
- Borrow up to 105% of the property value with a guarantor.
- Properties on rivers with no road access are assessed on a case-by-case basis.
- Borrow up to 85% of the property value.
- You'll need to provide limited proof of your income (read on to find out more).
- You'll need an active Australian Business Number (ABN).
- The lender will ask for an explanation for your credit history.
- Credit history: The better your credit history, the better your rate.
- LVR: The higher the percentage of the property value that you are borrowing, the higher your rate. This is known as the Loan to Value Ratio (LVR).
- ABN age: Some lenders charge a higher rate if your ABN is less than two years old.
- Income evidence: The more income evidence that you can provide, the better your rate.
- Size of credit issues: Small defaults are better than large defaults and large defaults are better than bankruptcy.
- Age of the issue: How long ago was the credit problem? How quickly was it paid or settled? These details can matter.
- Multiple issues: Several defaults at one time indicates a one off event but having the same defaults spread out over a few years indicates long term hardship.
- Default status: Is the default current, paid, unpaid, cleared out or settled. Each is assessed differently but all can be accepted.
- Bankruptcy & Part IX: How long ago was the problem? Are you discharged? If not, the new loan must pay out the bankruptcy.
- Debt consolidation: How many debts are you refinancing into the loan? Are they being paid on time?
- What went wrong?: Your story matters. Was it your fault? Have you learned from this experience? Will it happen again?
- They cannot afford the loan.
- They cannot provide the required limited income evidence (see on this page).
- The security property is outside the lender's guidelines.
- They do not have a big enough deposit.
- They are currently bankrupt.
- Home buyer: Borrow up to 95% of the property value.
- Investor: Borrow up to 90% of the property value.
- Guarantor loans: 105% of the property value subject to the conditions of the leaseback agreement.
- 100% guarantor loan: You may be able to borrow up to 100% of the purchase price with a guarantor home loan
- Low doc: N/A.
- Discounts: Competitive professional package and basic loan discounts are available.
- Borrow up to 90% of the property value plus Lenders Mortgage Insurance (LMI): This depends on the type of contract you have with your employer.
- Borrow up to 95% of the property value: As long as you have a strong financial position.
- Borrow up to 100% of the property value: If you apply with a guarantor.
- The income is permanent and ongoing,
- The income will continue until the end of the loan term,
- The benefit is paid as a lump sum, as is the case with the PSS and PSSap, or
- You can show evidence that you could pay off the loan from the sale/realisation of assets like real estate, shares or a lump sum from super.
- Their two most recent payslips.
- Their most recent group certificate.
- A letter from their accountant confirming their income.
- Acceptable at 90% of the property value: Most lenders will only consider interest only if your home loan is 80% or less of the property value (up to 80% Loan to Value Ratio) but some lenders will allow up to 95% if you can meet strict lending criteria.
- You must provide good reasoning: In some cases, you may also need to provide evidence for choosing IO over principal and interest repayments.
- Strong financial position: You need to have a strong enough income to afford principal and interest (P&I) repayments once your interest only term expires.
- Strong credit history: You need to have a solid history of making debt and bill payments on time and your credit file should be clear of black marks.
- Interest rates: You can still qualify for home loan rates as long as you're not investing (fixed rates aren't available).
- Home loan features: Basic and professional packages are available, including access to an offset account and a redraw facility.
- Being credit experts for the almost 40 lenders on our panel.
- Being solutions-focused and finding the right home loan solution for your needs.
- Providing a timely and seamless application and settlement process so you can get into your property sooner.
- No genuine savings required when borrowing at 90% of the property value or less.
- Waived Lenders Mortgage Insurance (LMI).
- Negotiated interest rate discounts.
- Higher exposure limits so you can rapidly grow your investment portfolio without getting declined for a loan.
- Your home loan can be in the name of a company or trust structure.
- You're required to be earning a minimum of $120,000 – $150,000 per annum*
- New or existing store: Borrow up to 50-70% of the total business costs or 100% with an existing residential property as security.
- Loan term: Typically 10 years or the length of the franchise agreement.
- Loan term with property as security: 25 to 30 years (standard loan term).
- A business plan and profit forecasting will be required for approval.
- Low doc options not available.
- Commercial rate discounts available by mortgage broker negotiation.
- 80% of the property value if you want to add back all of the distribution payments.
- 90% of the property value with some lenders who have a delegated underwriting authority.
- Australian citizens and permanent resident (PR) visa holders living in Canada may be able to borrow up to 90% of the property value.
- Self-employed borrowers may be able to borrow up to 80% of the property value with one of our lenders and we have at least one that will use 90% of your net income rather than gross income.
- Borrow up to 90% of the property value as an Australian citizen or permanent resident (PR) living in Dubai.
- Self-employed borrowers may be able to borrow up to 80% of the property value with one of our lenders, and we have at least one that will use 90% of your net income rather than gross income.
- If you’re earning UAE Dirham but can’t provide sufficient documents to prove your foreign income, then you may be limited to borrowing up to 80% of the property value.
- Investment loans: 95% of the property value.
- Low doc (no income evidence): 60% of the property value, on a case by case basis.
- Discounts: Competitive professional package and basic loan discounts are available.
- You can borrow up to 95% of the purchase price with some lenders or up to 100% by using a guarantor.
- You will need to provide a Mine Subsidence Board (MSB) certificate prior to loan approval.
- The bank valuer must recommend the property as suitable security for a mortgage.
- All loans are assessed on a case-by-case basis.
- Existing store: Borrow up to 70% of total business costs or 100% with an existing residential property as security.
- New store: Borrow up to 60% of the business value.
- Loan term: Typically 10 years or the length of the franchise agreement.
- Loan term with property as security: 25 to 30 years (standard loan term).
- Interest rate discounts available.
- Low doc options not available.
- Past experience and business plan needed. Actual requirements vary from lender to lender.
- Warehouse commercial property: Borrow up to 70% of the property value (freehold) or up to 100% with a guarantor or using a residential property as security.
- Commercial showroom: Borrow 70%-75% of the property value (freehold).
- Storage unit: Borrow 70%-75% of the property value (freehold). Leasehold considered on a case by case basis.
- Maximum loan term: 20 years.
- Maximum interest only term: 5 years.
- Loans over $5,000,000: Assessed on a case by case basis.
- A business plan is required if you’re planning on running a business in the warehouse.
- Interest only and principal & interest payments available.
- Low doc options are available.
- Interest rate discounts vary from lender to lender and the strength of your application.
- The income is permanent and ongoing, or
- The income will continue until the end of the loan term, or
- You can prove that you could pay off the loan from sale / realisation of assets (e.g. Investment Property, Shares, and Lump Sum from Super).
- You can borrow from 55-70% of the purchase price depending on your currency, loan type, and documents.
- If you live in Australia or you're married to an Australian citizen then you may be able to borrow up to 95%.
- Our best lender will accept up to 90% of your Chinese Yuan income.
- You'll need to provide two forms of income verification such as recent payslips and an employment letter.
- We have mortgage brokers that speak Mandarin and Cantonese.
- We cannot finance construction, vacant land, house and land packages or units under 50sqm.
- Waived LMI (Lenders Mortgage Insurance) when borrowing up to 100% of the property value.
- Discounted interest rates when borrowing at a higher amount.
- Your last 3 months invoices.
- Your last 3 months bank statements.
- Any contracts with the practice(s) you work with
- Tax returns if you have them available (optional)
- Buying another property.
- Buying a business or investing in your business.
- Investing in stocks, shares or managed funds.
- Consolidating your debts, such as credit cards or personal loans, into your home loan.
- Buying a new car or boat.
- Renovating your home.
- Helping to pay for a holiday, wedding or medical expenses.
- To keep funds on standby for when you take maternity leave.
- New or existing store: Borrow up to 60% of the franchise costs including construction and fit out.
- Borrow up to 100% with an existing residential property as security.
- Loan term: Typically 5 years or as per the length of the lease term.
- Loan term with property as security: 25 to 30 years (standard loan term).
- Typically 3 years management experience in the hospitality industry is required.
- You'll be required to have an accountant approved business plan which shows revenue and cashflow forecasts.
- Low doc options not available.
- Reduced interest rates available depending on the strength of the application and your Loan to Value Ratio (LVR).
- Doctors
- Dentists
- Optometrists
- Veterinarians
- Chiropractors
- Physiotherapists
- Pharmacists
- Lawyers
- Accountants
- Mining engineers
- New or existing store: Borrow up to 50% of total business costs or 100% with an existing residential property as security.
- Loan term: Typically 10 years or the length of the franchise agreement.
- Loan term with property as security: 25 to 30 years (standard loan term).
- Interest rate discounts available.
- Low doc options not available.
- You'll generally need past experience and a business plan.
- Pass: If you pass the credit score, assuming you meet all other aspects of the bank's policy, then your home loan will be approved.
- Fail / Declined: If you have failed the credit score then your mortgage application will be declined immediately. More often than not, bank staff are unable to override the system's decision.
- Refer: If the system cannot accurately score your application, there are errors with the data or it is on the borderline between pass and fail, then your application may be referred to a credit manager for a full assessment.
- Borrow up to 90% of the property value and save thousands with no Lenders Mortgage Insurance (LMI)
- Negotiated interest rate discounts.
- No genuine savings required when borrowing at 90% LVR (Loan to Value Ratio) or less.
- Higher exposure limits when purchasing multiple investment properties.
- Flexible credit criteria and income verification for FIFO workers.
- No location restrictions when buying a home or investment property in a mining town.
- Protect your assets and take advantage of tax benefits by purchasing in a company or trust structure.
- Earning more than $150,000 a year or will soon be on that income
- A specific kind of professional, such as a doctor, accountant, lawyer, mining engineer, professional athlete, or entertainment professional
- Buying a Defence Housing Australia property
- Getting help from a guarantor to buy your home
- You must have residential property as security for your loan
- You must be able to afford the loan using your historical income
- Your loan should not exceed 80% LVR
- You cannot use profit projections or similar methods to prove your income
- At least 5% to 10% in genuine savings.
- Sufficient equity in other properties (i.e. this isn't your first investment property) if you're borrowing more than 90%.
- A good credit history.
- An above average credit score.
- Stable employment and strong finances.
- New or existing store: Borrow up to 50% of total business costs or up to 60% depending on the strength of your business case.
- Borrow up to 100% with an existing residential property as security.
- Loan term: Typically 10 years or the length of the franchise agreement.
- Loan term with property as security: 25 to 30 years (standard loan term).
- A business plan and profit forecasting will be required for approval.
- Low doc options not available.
- Commercial interest rate discounts available!
- Borrow up to 90% of the property value as an Australian citizen or permanent resident (PR) living in the United States.
- Self-employed borrowers may be able to borrow up to 80% of the property value with one of our lenders and we have at least one that will use 90% of your net income rather than gross income.
- First home buyer incentives, such as increasing grants, tax concessions and stamp duty exemptions.
- Lending restrictions on investment and interest only loans.
- Your ABN details: Most lenders require you to have your ABN and GST registration for two years.
- Proof of your income: Due to legislation imposed on banks by the federal government, most lenders require some kind of verification of your income such as BAS statements, an accountant's letter or bank statements. However, some lenders do not require this additional evidence.
- Loan purpose: Many lenders have restrictions on refinances, construction loans or low doc loans in the name of a trust or company. In particular, releasing equity is considered to be a high risk.
- Security property: Since lenders do not have enough evidence of your income, they must be sure that the property you are offering as security can be easily sold. For this reason small units, larger properties and properties in remote areas may not be accepted for a low doc home loan.
- Credit history: Almost all major lenders will require you to have a clear credit history and have perfect repayments on your current debts. There are some specialist lenders that can consider loans to people with a bad credit history, however these lenders are not included in our calculator.
- Faster turnaround times: Your home loan application will be assessed within 24 hours compared to 3-5 days.
- Shorter time to settlement: We can sometimes reach settlement in less than two weeks from mortgage pre-approval.
- Access to credit specialists: These key decision-makers can make or break your application if you don't quite meet lending requirements.
- Advice on loan structuring: In this way, you can get a home loan that better aligns with how you manage your finances and your long-term goals.
- New or existing Outback Jack's: Borrow between 50-60% of the total franchise costs or up to 100% using an existing residential property as security.
- Loan term: Typically 10 years or the length of the franchise agreement. This is usually tied to the lease term.
- Residential property as security: Get a longer loan term anywhere between 25 to 30 years.
- Interest only: Typically 2 years.
- Lenders won't do low doc options with franchise loans.
- Account-certified business plan and profit forecasting will be required.
- Reduced commercial interest rates and higher LVRs available depending on your application strength.
- Getting a better interest rate to reduce the size of your mortgage
- Reducing your monthly repayments
- Consolidating debt such as credit cards, car loans or tax debt into one monthly repayment
- Getting a competitive interest rate by refinancing to a major lender after fixing past credit issues
- Accessing equity to renovate your existing property, to build something, to buy an investment property, to go on a holiday or just to have some cash in the bank
- Enter your current home loan balance
- Enter your current interest rate
- Enter your remaining loan term
- Enter your repayment frequency – whether you make monthly or fortnightly repayments
- Enter your monthly account keeping fee, if applicable
- Enter your discharge fee (and exit fee, if applicable)
- Your introductory term
- Your introductory or honeymoon interest rate
- The revert rate
- The upfront switching fee, if applicable
- The ongoing fee, monthly or annual, if applicable
- Scenario 1: Your monthly repayments if you don’t switch
- Scenario 2: How much you’ll save, or lose, by switching and making the minimum mortgage repayments
- Scenario 3: How much you’ll save by switching but continuing to make the same monthly repayments at the new, lower interest rate
- Driver’s licence
- Passport
- Birth certificate
- Medicare card
- Credit card or debit card
- Concession card
- Council rates notice (mandatory for property ownership verification)
- You cannot borrow 95% of the property value and avoid the cost of Lenders Mortgage Insurance (LMI).
- 90% waived LMI home loans are available to doctors and select professionals.
- General Practitioners (GPs).
- Surgeons.
- Dentists.
- Optometrists.
- Veterinarians.
- Pharmacists.
- Physiotherapists.
- Psychiatrists.
- Medicos that are members of a relevant industry association such as the Australian Medical Association (AMA).
- Borrow up to a maximum of $4.5 million to quickly grow your property portfolio or to buy a luxury property.
- Get access to heavily discounted interest rates not available to the general public.
- Lawyers.
- Accountants.
- Geologists.
- Mine surveyors.
- Quantity surveyors.
- Entertainment professionals.
- Professional athletes.
- Use a guarantor and borrow 105%: A guarantor allows you to borrow up to 100% of the property value, another 5% to cover the property purchase costs, and avoid LMI. No deposit, no problem.
- Borrow less than 80% of the property value: If you keep your borrowing limit to 80% Loan to Value Ratio (LVR), you don't need to pay LMI at all!
- Reduce your LVR: The higher your LVR, the higher your LMI rate - just $1 over 90% or over 95% can make a big difference to the premium you're liable to pay.
- Reduce your loan amount: Home loans between $300,000-$500,000 have moderate LMI while borrowing more than $500,000 puts you in a high LMI premium bracket.
- Genuine savings makes a difference: Banks prefer borrowers that have saved their deposit and are willing to offer LMI rates that are 25-30% cheaper than a borrower with no genuine savings.
- Compare LMI insurers, not just lenders: Different lenders and insurers apply different LMI rates so check out our comparison of LMI providers if you're looking to borrow over 90% LVR.
- Interest rate
- Mortgage insurance premium
- Ongoing fees
- Setup fees
- How much they will lend you
- If they will approve your loan
- How long the approval will take
- The lender's customer service
- If the loan features suit your needs
- Choose from four competitive lenders that accept owner builder home loans.
- Our mortgage brokers can help you organise your cost estimates for the bank.
- Avoid delays and headaches, work with the experts!
- If you’re accessing equity, you should have less than 80% owing on your home loan.
- Make sure your residing country has tax legislation that makes investing in Australia feasible.
- Your income must be in an acceptable currency.
- If you’re a temporary resident or a foreign investor, you need approval from the Foreign Investment Review Board (FIRB).
- Only specialist lenders deal with non-resident refinancing.
- Prepare a different strategy.
- Apply with another lender.
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Borrow up to 90% of the property value: Save thousands of dollars by avoiding the cost of LMI. Maximum loan size is $2 million.
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Borrow up to 95% of the property value: LMI will apply but you can still get a heavily discounted interest rate if you have stable employment and a high net worth. No maximum loan size applies.
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Interest rate: Discounted interest rates available.
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Minimum income: $150,000 as base salary but lenders will accept 100% of any rental income that you’re generating if required for approval.
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No genuine savings required: Only when borrowing at 90% LVR (Loan to Value Ratio) or less.
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Security: Buy for both owner occupied and investment purposes.
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Interest only term: Up to 15 years.
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Income protection may be required: Depends on loan size.
- Borrow up to 90% of the property value and save thousands with no Lenders Mortgage Insurance (LMI)
- Negotiated interest rate discounts.
- No genuine savings required when borrowing at 90% LVR (Loan to Value Ratio) or less.
- Higher exposure limits when purchasing multiple investment properties.
- Flexible credit criteria and income verification for FIFO workers.
- No location restrictions when buying a home or investment property in a mining town.
- Protect your assets and take advantage of tax benefits by purchasing in a company or trust structure.
- There is less competition during the holiday season. Families usually postpone buying a property during the holidays, as parents want to spend time with their children or are busy with Christmas shopping. You might be able to negotiate a lower price on the house, especially if the seller feels the pressure of less demand in the market. There might be fewer people bidding on the property you’re eyeing.
- Usually, the holidays bring a lull in listings, some sellers are motivated to make a deal before the property market slows down for Christmas.
- If the seller assumes that Christmas is not a good time to sell, then they might offer their property at a lower price to attract buyers.
- You might get flexibility from sellers who are motivated for a quick settlement. This can happen if the seller already has another property or if the property you’re considering has been on the market for too long.
- You might even get lucky if other buyers drop out due to Christmas.
- Real-estate agents and mortgage brokers want to get a deal done before the holidays start. So they’re motivated to help both the sellers and buyers before the lead-up to Christmas.
- Sellers might consider a low offer, as they’ll want to sell their property before the holidays begin. They know that if it’s not sold before Christmas, it will remain in the market until mid-January, when the market picks up again.
- Sellers become more realistic about the prices they’ve set and are willing to offer a discount to sell.
- Typically for loans less than 80% of the property value (80% LVR).
- Not all properties give a reliable result from a desktop valuation.
- Not available for construction loans.
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- Payment History – 35%
- Credit Utilisation – 30%
- Length of Credit History – 15%
- New Credit Accounts – 10%
- Credit Mix – 10%
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- Payment History – 35%
- Credit Utilisation – 30%
- Length of Credit History – 15%
- New Credit Accounts – 10%
- Credit Mix – 10%
- A property can see a huge increase in value when rezoning is announced.
- It can allow you to subdivide your lot or sell it to a developer who can subdivide and build residential unit blocks or commercial and industrial properties.
- You owe less than 80% of the property value on your home: Depending on the value of your home and your loan balance, you may be in a position to release equity as a deposit to buy a new property.
- Your lender will allow you to refinance: Accessing equity requires you to refinance your home loan so be aware that you may incur a break cost when changing your loan terms within a fixed period.
- You have sufficient cash flow: Property is typically a more secure investment but it is not set-and-forget so be sure that you have savings in place or funds in your offset account to cover unexpected costs such as maintenance and repairs.
- Your financial situation will remain unchanged: Depending on your income situation, consider whether immediate plans can be put on hold including taking holidays, changing jobs, having another child, repairing or extending your home, or buying a new car.
- 95% of the construction costs: You’ll need to be in a strong financial position, including having a perfect credit history, regular income and genuine savings.
- 80% of the value of the land plus construction costs: Most banks do not lend for cost plus building contracts so the key is to apply with the right lender.
- Borrow up to 100% with a guarantor loan: You can borrow the full costs of construction if your parents are happy to act as guarantors on your construction loan.
- Lower interest rates, no upfront fees (usually) and low ongoing fees including monthly and account-keeping fees.
- You become a part owner in the bank and have a say in significant company decisions.
- You get the same consumer protection as if you were applying a major bank.
- Code of Practice: Apart from the Banking Act 1959 (regulated by the Australian Prudential Regulatory Authority), customer-owned banks adhere to COBA's Code of Practice, which sets out '10 Key Promises To You' in relation to acting in the best interests of customers (responsible lending) and the local community and environment.
- Deposits up to $250,000 are covered by an Australian government guarantee.
- Borrowing limited to 90-95% of the property value: This means you'll need a 5-10% deposit as a minimum. Some of our non-mutual bank lenders offer guarantor loans meaning you can borrow up to 105% of the property value or Loan to Value Ratio (LVR).
- Slower settlement times: The time from your application being submitted and the home loan being settled can sometimes blow out to 3 or 4 weeks, particularly if the bank is offering a special interest rate. This compares to average processing times of 2 weeks.
- Nothing outside of the box: What this means is customer-owned banks tend to only deal with customers who have a good deposit, a clear credit history can provide complete evidence of their financial situation, are Australian citizens and work either full time or part time. This is what mortgage brokers call "vanilla" clients and if you fall outside of this definition, you'll likely be declined by these lenders.
- bankmecu: Australia's first mutual bank
- Community First Credit Union: The largest credit union operating throughout Sydney and the Central Coast region
- Border Bank: Services employees of the Australian Customs and Border Protection Service
- G&C Mutual Bank: Formerly SGE Credit Union
- Heritage Bank: The largest customer-owned bank in Australia.
- P&N Bank: Formerly known as a the Police & Nurses Credit Society, P&N is WA's largest locally-owned bank
- Police Bank: Customs Bank is a division of Police Bank
- Teachers Mutual Bank: Formerly the Hornsby Teachers Association Credit Union
- Existing debt: If the size of your debts, including your current mortgages become greater than your income then you'll end up with a default. It's important that you consolidate any debt before applying for a mortgage.
- Personal circumstance: Sudden events like losing your job, loss of income or failed businesses can drive people to default.
- Change in government legislation: This includes changes to borrowing limits, tax policies, lending policies, tax benefits, or Foreign Investment Review Board (FIRB) laws.
- Hassle-free experience
- Access to wide range of major banks and lenders
- Service from scratch to the end, from submitting your application to settling your loan and even after settlement
- Access to specialist lending if you do not quite fit into standard policies
- Fast and easy approval because experts are involved
- Tough home loans get approved because they know the best approaches
- Negotiates sharp interest rates and other benefits on your behalf
- 90% waived LMI: Some major banks waive the cost of mortgage insurance when you borrow up to 90% of the property value. LMI usually kicks in at 80%, so it’s usually worthwhile applying through your bank.
- Interest rate discounts: If you’re borrowing under 80% of the property value or don’t have waived LMI, you can get a better deal from another bank.
- Most of our mortgage brokers are ex-bank credit managers.
- We specialise in getting tough loans approved.
- You'll need to know what LVR means to use this guide.
- This page contains standard lending policy but we have access to specialised lenders that can consider making exceptions.
- Natural person (over the age of 18).
- Company.
- Trustee of a Trust.
- Any multiple or combination of the above borrowers.
- Limited liability companies.
- Associations.
- Clubs.
- Minors (under the age of 18).
- Borrowers of convenience (borrowers that receive no benefit from the loan).
- Non-residents such as people living outside of Australia or someone living in Australia but is a temporary or permanent resident rather than a citizen.
- NZ citizens living in NZ: Borrow up to 90%.
- Other non-residents: Borrowing up to 70% LVR is available.
- Home or investment loans up to 90% LVR: No genuine savings required for 90% home or investment loans.
- Home loan over 90% LVR: 5% genuine savings required for 95% mortgages or above.
- Investment loan over 90% LVR: 10% genuine savings required for 95% investment loans or above.
- Low doc loan: 20% genuine savings required.
- No genuine savings loan: You won't need to provide genuine savings and you can borrow at any LVR (note that this product is only available from some lenders).
- Funds held or accumulated in savings accounts for 3 months or more, or
- Funds saved in First Home Saver Accounts, or
- Equity in residential property, or
- Proceeds from the sale of a property, or
- Term deposits held for 3 months or more, or
- Shares held for no less than the last 3 months, or
- A rental history showing payments on time for 3 - 12 months, or
- Lenders may allow a gift / inheritance from your parents or a loved one as a deposit.
- Know your goals and what you want to achieve, so you know what you’re aiming for when choosing a property investment strategy.
- Focus on location and not just the property type.
- Since we don’t have control over how the property market performs, it’s best to organise your finances so that you have a cashflow buffer.
- Do not buy the first property you see. Do extensive research before you purchase.
- Do not self-manage your investment property or take the services of a subpar property manager. Get the help of an experienced and qualified property manager, so you get the best return on your investment.
- If it’s overwhelming to look for properties on your own, get a buyer’s agent to do it for you. Be sure to let the agent know exactly what you’re looking for in your ideal investment property.
- A mortgage broker will let you know how much you can borrow and the right way to structure your investment loan, so you get the best return on your investment.
- Policy changes and legislative changes can affect the success of your property investment strategy, so you need to be flexible and be prepared to accommodate these changes.
- $300,000 loan at 80% LVR approximately 0.55% or $1,650.
- $500,000 loan at 80% LVR approximately 0.79% or $3,950.
- $750,000 loan at 80% LVR approximately 0.80% or $6,000.
- $1,000,000 loan at 80% LVR approximately 0.98% or $9,800.
- Break cost: If you leave your fixed home loan early, your lender may charge you a break fee. This covers potential losses the lender might experience because of your early exit. Each lender has its own way of calculating break cost, depending on various factors like your fixed-rate term remaining, interest rate, and repayment amount. For an estimate, you can use our break cost calculator .
- Discharge fee: Your existing lender may charge you a fee to exit the mortgage. The discharge fee typically covers administrative costs associated with terminating the existing mortgage agreement, such as paperwork, processing and lien release. The amount will depend on the lender.
- Mortgage registration fee: Your new and existing bank may charge to register and deregister your mortgage, respectively. The fee charged varies accross states.
- Application fee: The lender charges this fee to cover the costs of processing your new application.
- Refinance Settlement fee: This is applied to cover the administrative and legal expenses related to finalising the refinancing process.
- Property valuation fee: This can vary according to property type and location. The new lender will charge around $300 to $600 to have your property valued, but we can order a free upfront valuation on your behalf.
- Title search fee: The new bank will run a title registry search to check for any liens, easements, or other encumbrances on the property’s title, ensuring that the buyer is getting a clear title to the property.
- Cancelling unused credit cards:Even if you don’t use them, lenders will take credit cards into account when they calculate your borrowing power. Most lenders also assume that your credit cards will be fully drawn to their limit. Cancel any credit cards you don’t use or even consider reducing your credit card limit to improve your borrowing power.
- Getting a fixed interest rate: Lenders generally add at least 1.5% on top of standard variable interest rates when they assess your home loan. The buffer is used to mitigate potential rate hikes in the future and can greatly reduce your borrowing power.However, if you fix your interest rate for at least three years, the buffer isn’t added. This means you can borrow more.
- Having updated financial records: Updated financial records are extremely important especially if you’re self employed. Banks assess your borrowing power using your two most recent tax returns and account statements. Outdated records will not inspire confidence in the lender and can lead to your loan being declined.
- Renting out your property: You can rent out an existing property and use the rent income and negative gearing benefits to increase your borrowing power.
- Choosing the right home loan: Home loan features such as a line of credit can impact your borrowing power. Lenders use different assessment rates for different loan types so only go with the features you really need.
- Saving a large deposit: If you have a 20% deposit, you won’t need to pay Lenders Mortgage Insurance (LMI), which can amount up to several thousands of dollars. LMI is a one-off fee usually charged when borrowing more than 80% of the property value. A large deposit can go a long way to improving your borrowing power.
- Going with a lender that can accept your income: Different lenders treat casual, contract and full time employees differently. Overtime and bonus income are also assessed differently. By going with a lender that can accept your income completely, you can automatically increase your borrowing capacity.
- Have unreasonable requests such as asking for tax returns for a shelf company that has just been set up!
- Don’t offer professional package discounts to loans in a company name.
- Offer professional packages that come with additional products such as an offset account or a credit card but won’t allow these to be in a company name.
- Won’t approve a line of credit in the name of a company as they consider this to be a business loan.
- Require all shareholders to be guarantors of the loan.
- First Home Guarantee: Eligible homebuyers can purchase their first home with at least a 5% deposit
- Regional First Home Buyer Guarantee: Eligible first-home buyers can purchase a home with at least a 5% deposit
- Family Home Guarantee: Eligible candidates can buy their home with at least a 2% deposit
- Over 55s villages: You can borrow between 60-80% of the value of the property depending on how specialised the property is and what restrictions there are on the resale or leasing of the property.
- House only: If you are leasing the land and own the house then we cannot assist with a loan.
The property securing the loan must be common to all loans under the cross-collateralised structure.
Each mortgagor under the cross-collateralised structure must be either a debtor or guarantor.
Any guarantor on any loan within the cross-collateralised structure will be required to guarantee all loans within the cross-collateralised structure.
In the case of a third party loan where a borrower is not a mortgagor, that borrower must have a direct relationship to a mortgagor, with respect to control such as through a company structure, where a mortgagor is a director.
You must stay within the bank’s mortgage exposure limits.
- You must have 20% equity in another property (some exceptions apply).
- You must have 10% of the purchase price in genuine savings (some exceptions apply).
- Most lenders will only allow you to borrow 95% including LMI, not 95% plus LMI.
- There are lenders that allow exceptions to all of the above requirements.
- We have several lenders that can refinance an investment property up to 95%.
- We have lenders that accept equity in another property as genuine savings.
- We can arrange free bank valuations with several lenders, allowing you to proceed with the lender with the highest valuation.
- Up to 95% of the value of the block of land, if you’re buying land first and building later.
- Up to 90% of the completed value of the property if you’re buying a turnkey property.
- 100% if you’re buying with a guarantor.
- A certified copy of the stamped trust deed.
- A certified copy of the company constitution (if there’s a company trustee).
- Identification for all trustees, directors of trustees and beneficiaries of the trust.
- Tax returns and notices of assessment for the trust (not always required, in particular for low doc or for new trusts).
- At least two years’ tax returns and financial statements.
- We also have lenders on our panel that will accept one year’s tax returns or other alternative methods of verifying your income.
- If you’ve recently started your own business but remain in the same industry, then some lenders can consider your application even if you don’t yet have tax returns.
- Evidence to prove consistent income
- Documents like tax returns, financial statements and business records.
- One person can borrow on a jointly-owned property.
- All parties must consent to the loan.
- All parties are joint and severally liable for the loan.
- Every loan is considered based on its individual circumstances.
- Many banks will not accept this home loan structure.
- Auction clearance rates
- Average days on market
- Property market clock
- 40%: falling market, buyers have the advantage
- 50%: steady or slightly falling market
- 60%: steady prices
- 70%: seller's market
- 80%: strong seller’s market, which usually means prices are rising fast
- 90%: completely insane
- You can borrow 105% of the purchase price.
- You don’t need any savings.
- Your parents (or other guarantor) must provide a guarantee, secured on their property.
- Your guarantor must have equity in their property to cover the guarantee.
- Your guarantor (usually your parents) typically must be working. Retired guarantors are accepted by only a few lenders.
- Your guarantor’s property must be in Australia.
- You are an Australian citizen or permanent resident.
- You have saved at least 2% of the property value as savings.
- You have an excellent credit history.
- Your income can service the Deposit Boost Loan and the mortgage.
- You have funds to cover the starter fee (2% of the property value) and the upfront costs of buying property.
- If you have sufficient equity, then you don’t need any savings at all
- You can use your existing equity as a deposit by refinancing.
- Some lenders will offer you a cash rebate to refinance.
- We can value your property for free right now!
- A letter from your employer confirming that your job is still open (if applicable).
- A letter from the worker’s compensation insurer or scheme agent to confirm the payments being made to you, the term over which they will be received and the conditions regarding your return to work.
- Doctor’s certificates (if applicable)
- Evidence of your income prior to the injury (payslips, group certificates etc).
- Gym memberships.
- Child subscriptions and streaming services like Netflix.
- Ordering take-away.
- Taking less family holidays or going on smaller vacations locally.
- Luxury item spending such as toys, games and brand name clothing.
- Borrow up to 60-70% of the property value.
- Borrow up to 100% with a commercial property guarantor loan.
- Loans over $5,000,000 are assessed on a case by case basis.
- The bank will generally require a business plan and profit forecasting for the farm.
- Low doc options are not available.
- Interest rate discounts vary depending on the lender and your financial situation.
- Agribusiness line of credit is available.
- Turf farm loans are available.
- Commercial property with residential property as security: 30 year terms available.
- Interest only: Up to 5 years
- Standard commercial property (freehold): 10, 15, 20 and 25 year terms.
- Property and business (freehold going concern): 10, 15, 20 and 25 year terms.
- Purpose-built commercial property: Typically 10 to 15 years but some lenders offer up to 25 years as standard policy.
- Interest rate terms: Fixed, variable split rates available.
- Bank bill swap rates (BBSY): 10, 15, 20 and 25 year terms.
- Redraw: Allowed for amounts you’ve prepaid and only after the fixed period.
- Extra repayments: Unlimited and no fees applied after the fixed period.
- Banks will usually insist on principal and interest (P&I) for commercial loans under $ 1 million.
- Buying a standard commercial property.
- Using a residential property as security.
- Oil and fuel
- Chemical and toxic waste
- Pesticides and fertilisers (related to agribusiness)
- Biodegradation
- Lead
- Arsenic
- Asbestos
- Be accessible by road.
- Have services available such as power and water.
- Be a freestanding house which means no common walls or slabs with other properties.
- Have a development application (DA) that allows construction to be completed independent of the other dwellings in the development.
- Have no restrictions on resale.
- An annualised Year To Date (YTD) figure from your payslips
- Your group certificate or
- A letter from your employer
- Waived Lenders Mortgage Insurance(LMI), which can save you thousands of dollars off your home loan.
- Significant interest rate discounts.
- No genuine savings required when borrowing at 90% LVR (Loan to Value Ratio) or less so your deposit doesn't have to come from your own savings.
- Higher mortgage exposure limits when purchasing multiple investment properties.
- You must be earning a minimum of $120,000 – $150,000 per annum*
- Your home loan can be in the name of a company or trust structure.
- Loans over $250,000: 1.40% below the BSV (Special offer).
- Loans over $500,000: 1.45% below the BSV (Special offer).
- Loans over $1,000,000: 1.50% below the BSV.
- Loans over $2,500,000: Discounts are negotiated on a case by case basis.
- A car loan for $30,000 with repayments of $1,500 a month;
- A credit card with a balance of $20,000 with repayments of $750 a month; and
- A mortgage with $500,000 owing with repayments of $2,100 a month.
- Client portfolio: Borrow up to 70% of the purchase price or 2.25x recurring revenue or 3x earnings before interest and tax (EBIT) of the client portfolio you want to buy, whichever is lower.
- Freehold property: Borrow up to 70% of the purchase price of a standard commercial property.
- Security: Charge over the financial planning practice, directors guarantees, tripartite with the Australian Financial Services Licence (AFSL) holder or dealer group.
- Refinance existing practice debt.
- Working capital is available: This includes business overdraft facilities and fit-out finance.
- Low doc and no doc: Not generally available.
- Principal and interest: 10 years (fully paid off).
- Interest only: 1 year (at least 50% of the debt must be repayable in 5 years).
- At least 5 years professional experience with at least 3 years in running a practice.
- A practice business plan with profit forecasting may need to be provided.
- Borrow up to 70% of the business value or up to 100% with a residential property as security or a guarantor.
- Borrow up to 90% of the value of your residential property and pay no Lenders Mortgage Insurance (special exception for engineers).
- Freehold: Borrow up to 70% of the purchase price (standard commercial properties like offices and warehouses).
- Principal and interest: 5 years or up to 30 years with a residential property as security.
- Interest only: Up to 5 years.
- At least 3 years professional experience in a managerial role.
- Lease doc, low doc and no doc loans available with a larger deposit.
- Our mortgage brokers can negotiate strong commercial interest rates on your behalf.
- Freehold property: Borrow up to 50-65% of the value of the supermarket security.
- Refurbishment/fit-out: 50% of balance sheet or earnings before interest, tax and depreciation (EBITD) (up to 80%).
- Borrow 100% of the purchase costs: If you have sufficient equity in residential real estate. Guarantor option not available.
- Low doc options: Available with one of our lenders (freehold only).
- Freehold loan term: 15 years or 30 years using a residential property as security.
- Fixed rates: Up to 5 years.
- Interest only: Up to 5 years.
- Interest rate: Discounts available by negotiation and depending on the strength of your application.
- Business financials: Current tenants need to show strong turnover.
- Yearly reviews: Usually a requirement but it depends on the strength of the tenant and lease in place.
- Loans over $5 million considered on a case by case basis.
- Land value
- Home improvements or renovations
- Comparable sales
- Construction costs
- Location
- Property characteristics
- Freehold landfill property: Borrow up to 50% of the property value or more if you're using a residential property as security. With a guarantor, you may be able to borrow up to 100% of the property value.
- Waste management business: Borrow up to 50% of the value of the business depending on how strong your business is.
- Maximum loan term: 5-10 years.
- No interest only term: Principal and interest (P&I) payments only.
- Loans over $5,000,000 are assessed on a case by case basis.
- Low doc loans unavailable: Full income evidence required for assessment.
- You'll need substantial experience in the industry and yearly reviews will apply.
- A business plan will need to be provided if you plan to operate a business from the site.
- Interest rates may be negotiable depending on the strength your situation and security.
- Buy a residential property: Borrow up to 80% of the property value.
- Buy a commercial property: Borrow up to 70% of the property value.
- Refinance: We usually make a plan with our clients to remain with the specialist for a couple of years, or until the bad credit listings have cleared after which, we can refinance you to a major lender at a better interest rate.
- Unlimited defaults and judgments: One of our lenders will consider a number of different bad credit listings as long as they can be attributed to a maximum of two life events.
- Good financial position: You need to have a good deposit, stable income and a solid debt-to-income position and prove that you're now in a better situation.
- No fees: Most lenders do not charge a fee for their fast refinance process.
- Settle quickly: Once documents have been received and certified, you can have your fast refinance approved in as little as two days. This means your loan would take three weeks from the time you apply to when it is advanced.
- Save on interest: Refinancing to a new loan with lower interest rates will save you money.
- No complex paperwork: Your new bank will contact your current bank and organise your new loan, taking care of most of the work for you.
- GST registration.
- Credit scoring.
- The industry that you are in.
- The location and size of your security property.
- The type of loan that you are refinancing.
- Firstly we assess your potential savings and determine how much you will benefit by changing banks.
- Then we will complete an application for the new lender whilst arranging the discharge of your old loan.
- After your loan is approved, a loan offer will be sent to you for you to read and sign.
- When this is returned the new bank meets with your old bank and pays them out.
- Your business turnover is solid: You'll usually just need to provide your latest balance sheet and profit and loss statement (P&L).
- You have equity in an existing property to use as security: You can typically borrow up to 85% of the property value for business purposes. If you own the commercial premises that you operate from, you can also use that as security for the overdraft.
- You can show a legitimate business need: Banks generally want to see that the need for an overdraft is regular and ongoing rather than a one-off cost that you need to cover.
- We know which lenders will approve loans for discretionary trusts.
- We know which lenders can give professional discounts and offset accounts for discretionary trusts.
- We know which lenders do not require guarantees from all adult beneficiaries.
- We can get your loan approved with lenders that have fewer fees for guarantee & indemnity documents.
- We know how to structure loans with the correct entities as borrowers and mortgagors.
- For the majority of trust loans our services are completely free!
- Commonwealth Bank of Australia (CBA).
- National Australian Bank (NAB).
- Westpac, along with its subsidiaries St George, Bank SA and Bank of Melbourne.
- ANZ (this major bank never really offered SMSF loans, to begin with).
- Freehold purchase (residential): Borrow up to 80% of the property value if the property is residential.
- Freehold purchase (commercial): Borrow up to 70% of the property value for purpose-built child care facilities.
- Leasehold purchase: Borrow up to 50% of the business value (going concern). Dependent on location.
- Max loan term for principal and interest repayments: 10 years (purpose-built) or 15 years (residential converted).
- Max loan term for interest only: 1 year.
- No max loan limit (depends on lender).
- Low doc options not available.
- Strong applications attract significant interest rate discounts.
- First Home Buyer: We have two lenders that will accept snow lease properties at 60% LVR (loan to value ratio) over a 20-year term rather than the typical 30 year term.
- Investors: 60% of the property value
- Low doc: 60% of the property value with one of our lenders as a commercial loan.
- Guarantor: You may be able to borrow up to 105% of the property value by having your parents provide a limited guarantee.
- A current Department of Veterans Affairs statement showing name of customer, frequency and amount; or
- A current bank statement showing direct credits identifiable as the government allowance
- The amount that you are borrowing.
- If the lender is already offering you 95% waived LMI.
- If you are a member of the Optometrists Association Australia (OAA).
- The choice of lender.
- Reducing your Loan to Value Ratio (LVR) by using your residential property as security for the commercial loan.
- Buying a standard property, that is, real estate or land that isn’t purpose-built for a specific commercial use.
- We know which lenders will approve loans for family trusts.
- We know which lenders can accept family trust loans without the need for beneficiaries to be guarantors.
- We can get your loan approved with lenders that have fewer fees for guarantee & indemnity documents.
- We know how to structure loans with the correct entities as borrowers and mortgagors. We'll even discuss this with your accountant to be 100% sure.
- For the majority of family trust loans our services are completely free!
- Freehold: Borrow up to 70% of the purchase price (standard commercial property) or up to 100% using a guarantor.
- Leasehold: Up to 60% of the actual gross fee income or projected income.
- With wealth management arm attached: Up to 2.5x financial planning renewal income (earnings before interest and tax) multiple.
- Principal and interest: 10 years (fully paid off)
- Interest-only: 3 years (to be fully paid off)
- At least three years of professional experience.
- A practice business plan with profit forecasting may need to be provided.
- A solid credit history.
- An above average credit score.
- Stable employment.
- Sufficient income.
- Freehold (with gaming): up to 65% of the purchase price.
- Freehold (without gaming): up to 50% of the purchase price.
- Leasehold (with gaming): up to 50% of going concern valuation by a bank instructed valuer.
- With the help of a guarantor, you can borrow up to 100% of the purchase price.
- Maximum loan term for principal and interest (P&I): 5 years (debt to reduce by 40%).
- Maximum loan term for interest only: 3 years.
- Loans over $5,000,000 are assessed on a case by case basis.
- You may be asked to provide a business plan including business forecasting.
- Preferred 3 years experience as a successful publican if you are managing the business yourself
- Low doc options are not available.
- Interest rate discounts vary depending on the lender and your financial situation.
- You can refinance on a variable rate: Did you know that you could actually refinance every 6 months on a variable rate commercial loan? It all depends on the lender and how much equity you have. Bear in mind that you’ll add an enquiry to your credit file each time you refinance which could affect your overall borrowing power.
- You can even refinance on a fixed rate: Yes, you’ll likely incur break costs and exit fees but it usually makes sense to refinance anyway if you’ll likely see the savings benefits within 2 to 3 years.
- Low doc commercial loan refinance available: Lenders tend to favour applicants who are releasing equity to buy more properties or invest in their business rather than applicants who are borrowing to cover cash flow shortages.
- Bad credit commercial loan refinance available: You can typically borrow up to 75% of the commercial property purchase price at a maximum lend of $10 million. Some lenders will consider your situation if your commercial loan is in arrears and will even consolidate business credit cards, overdrafts, commercial property loans, business loans and tax debt.
- Lease doc commercial loan refinance available: Similar lending criteria to a low doc loan and you can generally borrow up to 70% of the commercial property purchase price through a specialist lender.
- Freehold (purpose-built): Borrow up to 65% of the property value or up to 105% using a guarantor.
- Freehold (converted residential): Borrow up to 50% of the property value.
- Leasehold: Borrow up to 50% of going concern valuation by a bank instructed valuer.
- Maximum loan term for freehold: 25 years.
- Interest only term: Maximum 3 years.
- Maximum loan term for leasehold: 5 years.
- Loans over $5,000,000: Assessed on a case by case basis.
- Business plan required for going concern: This includes cash flow forecasting.
- Residential property as security: Required if you lack business experience.
- Low doc options: Not available due to the specialised nature of the property.
- Interest rate discounts: Vary depending on the lender and your financial situation.
- You owe 80% or less of the value for the residential property: Most lenders will restrict borrowing to 75%.
- You owe 70% or less on a commercial property: Specialised commercial properties accepted on a case by case basis.
- Your SMSF meets acceptable liquidity requirements: You typically require 10-20% of the property value in cash and other liquid assets within your fund.
- Clear credit history: There are specialist lenders that may still be able to assist if you have some black marks.
- Church building (freehold): Borrow between 50-60% of the property value or up to 100% using a guarantor.
- Loans over $5,000,000: Considered on a case by case basis.
- Low doc commercial loans: Not available.
- Interest rate: Discounts will vary but you can get an idea on the commercial interest rates page.
- Getting approved: Subject to the size of the organisation and the level of regular donations received.
- You owe 80% or less of your property's value (some banks consider up to 90% as well).
- All your defaults are paid and no longer showing on your credit file.
- You have full income evidence (some banks also consider low-doc loans).
- You have made all of your repayments on time in the last six months.
- Security: You must already own real estate, which can be used as security for the loan.
- 85%-90% LVR: The tax debt plus your current mortgage must be less than 90% of the value of your property when combined. One of our lenders can do a 95% LVR tax debt refinance; however, the lending criteria are stricter.
- Late repayments: If you are overdue with your repayments or have a bad credit history, then you must have a reasonable explanation.
- Income evidence: You must be able to prove that you can afford the new mortgage using payslips, BAS, tax returns, bank statements and/or an accountant’s letter. Low doc loans are available on a case by case basis.
- Borrow up to 80% of the value of each unit.
- Borrow up to 100% of the value of each unit using a guarantor.
- Max loan amount: Loans over $5 million considered on a case by case basis.
- Max loan term: 1-2 years on an interest only term.
- Low doc options are available.
- Bad credit loans are not available.
- Lenders prefer developments in metro locations.
- Interest rate: Specialist non-banks charge slightly interest rates but rates are negotiable.
- Offers competitive rates compared with variable rate and longer fixed-rate options
- A more affordable initial cost, compared with a longer fixed-rate period
- Provides an extended period of protection from changing market conditions, compared with shorter fixed-rate periods
- Helps in budgeting, as your repayment amounts will not change for three years.
- Borrow up to 70% of the property value (freehold).
- Borrow up to 100% with the help of a guarantor.
- Loans over $5,000,000 are assessed on a case by case basis.
- Maximum loan term: 20 years.
- Maximum interest only term: 5 years.
- The bank will generally require a business plan and profit forecasting of either your tenants or the business you're running.
- Low doc available: Borrow up to 80% in strong cases.
- No doc available: Borrowing typically capped at 65%.
- Interest rate discounts vary depending on the lender and your financial situation.
- A residential property
- A commercial property
- Cash security such as savings or a term deposit
- Low-interest rates for home loans are a key factor supporting housing market recovery.
- First home buyers are driving property demand as there are offers and schemes available to them.
- There is buyer activity even with no overseas migration.
- Expats are looking to buy property in Australia, so they have a home to return to.
- Regional areas are more affordable than their capital counterparts.
- Borrowers are resuming their mortgage repayments after taking a repayment holiday. Data from the Australian Prudential Regulation Authority (APRA) reveals at the end of December 2020, the value of home loan deferrals was $43 billion compared to its peak of $192 billion in May.
- Lenders could tighten their policies to avoid borrowers with low deposit or high debt to income ratios or expats returning to Australia.
- The virus's outbreak is a constant threat with recent outbreaks and border closures having a negative impact on consumer sentiment.
- According to ABS data, the HomeBuilder grant led to a 17.7% increase in construction loans in December, more than doubling since June. The grant and other government schemes like JobKeeper, JobSeeker, etc., are winding down in March 2021.
- There is not enough property to sell, and councils are freeing up land for developments, however, building a new home takes time.
- Accountant-prepared profit and loss statement (P&L) and balance sheet showing your profits, assets and liabilities for the past financial year.
- They may ask for your latest business activity statement (BAS).
- Your latest personal income tax return (only needed if you’re a sole trader operating under your own name).
- Your latest Australian Taxation Office (ATO) tax portal (this statement shows that your taxes have been paid on time. If they haven’t, it’ll show interest charged and it may be an indication that the business is in financial trouble or being mismanaged).
- Avoid time-consuming intrusions: While you’re trying to run your own business or a company, any time wasted is time that could be better spent turning a profit. It take anywhere between 2-3 days to get all of the requested documents ready for a lender!
- Save on the costs of an accountant: The P&L and balance sheet you provide will need to approved by your accountant, which will come at a cost to your business.
- Not have to worry about your tax returns: Many businesses can be late with their tax returns – this isn’t a new thing but most banks simply don’t get it. With no reviews, you can avoid the headache of having to be on top of your business tax return every year and even continue with any income-lowering strategies that you’re using to reduce your income tax.
- You can borrow up to 70% of the property value.
- No payslips, tax returns, bank statements, BAS or financial statements are required.
- The security must be a commercial or residential investment property.
- Your loan must be NCCP unregulated.
- The lease must have at least 12 months remaining.
- The lease must be at "arm's length", that is, not to your own company.
- The lease income less outgoings must be sufficient to cover the interest on your loan.
- Borrow up to 95% of the property value for an existing land rent scheme property.
- Borrow up to 100% of the purchase costs with a guarantor.
- Get the same interest rates as if you were buying a standard property.
- You will need to liaise with the ACT Revenue Office when transferring the land rent lease into your name. A duty will apply.
- Speak to us if you're planning on asking a loved one to as guarantor for your construction loan.
- Cost plus construction loans are available.
- You will need to provide your most recent Centrelink statement: This means providing all pages of the statement, including the blank ones. You can download a statement from the Department of Human Services website via your user portal.
- The older your children are, the fewer lenders will accept your FTB income: This is particularly true of children over the age of 11. Despite this, there are actually some specialist lenders that will accept 100% of your FTB payments regardless of the age of your children.
- Australian citizens.
- Australian expats.
- New Zealand citizens.
- Permanent residents (PR).
- Simple and cheap to set up with the Australian Taxation Office (ATO) including no registration or annual administration fees.
- Fewer reporting requirements than a company meaning you just need to complete one tax return a year using your Tax File Number (TFN) if you're operating in your name or an Australian Business Number (ABN) if you're trading under a business name.
- You pay tax at the same rate as if you were an employee working for a company. This is typically only beneficial if you're making nominal turnover (less than $100,000 as a general rule). Any more than this and you want to consider switch from a sole trader to a company structure to take advantage of the lower tax rates.
- You won't need to pay payroll tax if you don't employ anyone else in your business.
- It's a lot easier to declare your business expenses such as car and travel costs.
- Personal superannuation contribution tax reductions available.
- Small business CGT concessions (50% discount) and there's also a complete exemption if you run the business for at least 15 years (other conditions apply).
- From a business perspective you have more autonomy over business decision than when it comes to a partnership or company structure.
- Business licences are often lower for sole traders than for companies.
- You can still employ staff but keep in mind that you need to have workers' compensation insurance, make superannuation contributions and adhere to the awards and entitlements of casual, part time and full time staff.
- Any losses you make in the business can be offset against other income you earn such as your wages or income from an investment property.
- You don't need a business bank account although you'll be required to keep financial records for at least 5 years.
- It's easy to change to another business structure if you decide to operate as a partnership or if you get to the point in your growth where a company structure makes more sense.
- You're currently or expecting to turnover huge profits.
- There is a lot liability in the operation including the type of work you undertake and/or the products you sell or the services you deliver.
- You're going to have a number of employees.
- Inability to do revenue splitting: Sole traders often try and pay a family member a wage for doing some kind of service such as administration work or bookkeeping to avoid paying tax on part of the income they derive from the business. However, they have to be an integral part of the business. You can't just say they help out in the office a couple of days a week if there's no employment paperwork to back it up.
- Inability to raise capital: Unlike a company, you can't simply issue shares to raise capital to fund your next phase of business growth. Effectively, the only "capital" you can raise is debt from either your friends and family lending you money or by applying for a business loan with your bank. We can help you do this by refinancing your residential property and accessing equity to invest in your business.
- If you choose to operate your business under a name other than your own, you must register the business name with the Australian Securities and Investments Commission (ASIC). It's not a drawback in itself but it just means you're under more regulatory scrutiny.
- You can't claim tax deductions on the money drawn from the business.
- You miss out on the advantages of collaborating and sharing ideas with a business partner.
- Limited options for planning and structuring your estate: Unlike a company ownership structure, it's difficult to transfer business ownership to someone else after your death or in the event that you are forced to sell the business (due to illness or disability, for instance). You can specify your wishes in a Will but you can't split the capital gain from the sale of the assets between family members. If there is a capital loss, the owner's personal assets will be put at risk.
- Public liability insurance.
- Professional indemnity insurance.
- Income protection insurance (if you get injured or fall ill, there's no one who can run the business).
- Learn to negotiate: The asking price is to be used as a guide for how much the owner is willing to accept for a property. The asking price is almost always higher than the price they’re willing to accept. That is to say, it’s negotiable. You should almost always offer less than what you’re prepared to pay. However, please be careful not to go too low, as you risk getting declined. Never reveal the maximum amount you’re willing to pay straight away. Instead, work your way up incrementally with the vendor.
- Research and then research some more: You can never be certain you’re paying a fair market price unless you’ve done your research. This can be as simple as looking at recent sales of comparable properties in the area. You can learn more about how to value property here. Also, finding out why the vendor is selling can help tremendously in your negotiations. Talking to neighbours after the open home can give you great insights into the property and the area.
- Set your terms and conditions: When you submit an offer, you have a chance to include conditions for the sale. For example, it could be a subject-to-finance clause, or it could be that the owner needs to fix a certain part of the home. Getting these in writing is vital, to avoid problems on the settlement date. However, be aware that vendors do not like too many conditions and may even reject offers due to them. Tip: Some vendors are looking for a quick sale. That is to say, in addition to a good price, a quicker settlement date could also be a deciding factor for vendors.
- Don’t get too emotional: While private treaties aren’t as emotionally charged as auctions, homebuyers still tend to get emotionally invested in homes they like. This makes it difficult to negotiate a fair price for the property. Leaving your emotion out of things will help you better negotiate with the agent and potentially avoid going over budget. Being prepared to walk away gives you better leverage.
- Do your due diligence: Researching the area and the property, taking care of the legal side of things, and ordering a building and pest inspections are all part of doing your due diligence. Doing your research on the area and the property using recent, comparable sales will help you decide how much you should offer. It can help you understand whether the property is fairly priced or overpriced. They’re almost never underpriced.
- Borrow up to 75% of the value of a commercial property (even with bad credit).
- Borrow up to 80% of the value of a residential property.
- Borrow up to $10 million (higher on a case by case basis).
- Loan terms of up to 30 years for commercial security properties (>20 years is case by case).
- Interest-only repayments for up to 5 years.
- Discounted interest rates are available from some lenders.
- Standard homes: If the property can be used as a standard residential home and you're currently employed then you may be able to borrow 90% of the purchase price.
- Income from the B&B: If you'll be relying on the B&B income to pay the loan then you can borrow up to 80% of the purchase price.
Commercial property: If the property can only be used as a B&B, not a home, then your borrowing power will vary depending on whether the property is a:
- Freehold purchase: You may be able to borrow up to 70% of the property value.
- Leasehold purchase: You may be able to borrow up to 50% of the business or going concern value.
- 100% loans: Available with some of our lenders if you have a guarantor.
- Interest rate discounts: Available on a case by case basis through one of our lenders.
- Low doc: Low doc loans are typically not available.
- Sufficient deposit: You will need at least a 5% deposit to get an investment loan. If you want to borrow more, you may also need to show that you have equity in other properties. There are no deposit investment loan options available if you don't have a sufficient deposit.
- Genuine savings: Many lenders want you to have saved a certain amount of cash in a bank account for at least three months. This is to show that you've saved the money yourself and you can manage your finances.
- Clean credit history: Many lenders want you to have a clean credit history and a good credit rating.
- Strong income and stable employment: Lenders will generally require you to show that you have a strong income and stable employment. This helps you prove that you can afford the mortgage. However, if you're a professional investor who earns solely through investment and you don't have a job, you'll need to provide your bank statements or tax returns to prove your income.
- Freehold: Borrow up to 60-70% of the property value.
- Business (leasehold): Borrow up to 50% of the business value.
- Borrow up to 100%: With a residential property as security or a guarantor.
- Interest rate discounts vary depending on the strength of your case and your security.
- Agribusiness loans are available.
- You'll need to provide a business plan and cash flow projection for the business.
- Yearly business reviews are typical but can be avoided if you have good security and a small exposure limit.
- Low doc options are not available.
- Loans over $5,000,000 are assessed on a case by case basis.
- Borrow up to 100% of the fit-out costs with a residential property as security or a guarantor.
- Borrow up to 50% of the fit-out costs with no residential property as security.
- Eligible medical professionals can borrow up to 100% of the fit-out costs for a medical practice.
- Loan term with residential property: Up to 30 years.
- Loan term without property: 5-7 years.
- Negotiated interest rates available.
- Loans over $1 million assessed on a case by case basis.
- The first thing you need to do is find out the current value of your property. We can help you get free valuation reports. When property prices increase, you might have access to more equity than you originally thought.
- Then make sure that you have enough equity in your home. You will need at least 20% equity to refinance, and more if you want to avoid paying Lenders Mortgage Insurance (LMI).
- Once you have determined that you have enough equity, compare refinance rates and terms from multiple lenders to find one that offers a competitive interest rate and has the features and services you want.
- Remember, once approved, you are paying off two loans: your new home loan and the investment loan.
- Doctors
- Veterinarians
- Dentists
- Optometrists
- Pharmacists
- Physiotherapists
- Chiropractors
- Borrow up to 60% of the purchase price or the bank valuation (whichever is lower).
- Maximum loan term: 10 years
- Interest only: 3 years
- Loans over $5,000,000 accepted on a case by case basis.
- Business plan required and at least 3 years experience in managing a rent roll or real estate agency.
- Monthly or quarterly reviews typically required.
- A sufficient deposit: For the home loan as a whole, you’ll need to have a deposit of at least 5% of the property value as genuine savings between you and your co-borrower. Some lenders will accept a no deposit option such as a gifted deposit to make up the amount required but third party guarantors are not accepted. Find out more.
- Purchase an acceptable property: Most lenders have restrictions relating to the type of property that you want to buy as well as its location. As long as you’re buying a standard property or unit in or near a metro/city location, you should be fine.
- A stable job: You and your co-borrower need to have stable employment with at least 3 to 6 months history in your respective jobs.
- A good income and asset position: Your income and asset position must reflect your current age and the number of years you’ve been working as well as be sufficient enough to meet standard serviceability requirements set by the bank. Serviceability is the measure of whether you are capable of making the required mortgage repayments for the amount you’re borrowing.
- A good credit history: Although it will help your case if your credit file is clear of black marks like defaults, judgments, bankruptcies and a high number of credit enquiries, there are exceptions if you can build a strong case with the right lender. A mortgage broker can help you do this.
- A like-minded co-borrower: This isn’t a lending requirement per se but a co-ownership investment loan only works if you’re able to go into mortgage with someone you trust, with the character and capacity to make their mortgage repayments and someone who shares your investment goals, such as, when you would like to sell the property.
- The child support payments that you receive must be via the Child Support Agency (CSA) which is part of the Department of Human Services.
- The payments must be court-ordered.
- You must have been receiving the support income for at least the last six months.
- A copy of the Family Law Court Order.
- Bank statements showing credits to your account.
- A letter from your solicitor.
- A letter from the Child Support Agency (CSA).
- Limited child support agreement: Essentially, parents can decide on the level support (but not less than CSA's child support assessment) and how the payments are to be delivered.
- Binding child support agreement: A binding agreement that can be made between each parent even if a child support assessment hasn't been made. A binding agreement can only be ended by a new binding agreement or by a court.
- Company car: This includes funds to cover petrol, maintenance and repairs.
- Car allowance: This may be in the form of expense payments or residual fringe benefits such as getting reimbursed for tolls and parking.
- Entertainment: This can include drink, food, travel and recreation for an event like a staff cocktail party.
- Housing: This could be rent-free or at reduced rent.
- Board or LAFHA: This is where you're temporarily required to live away from home for a certain period of time for work purposes so these benefits may include an allowance for two meals a day, for instance.
- Loans with no or reduced interest rates: Many employers offer loans in the form of covering the costs of a training program or educational course. You either only have to cover a small percentage of the course fee or the employer waives it completely, known as a debt waiver fringe benefit.
- Health and group life insurance.
- Child care and assistance reimbursement.
- Employee discounts.
- Employee stock options.
- Other expense reimbursement.
- Permanent LAFHA: Some of our lenders will assess your taxable income and then will separately include your LAFHA as tax free income, allowing you to borrow more.
- Temporary LAFHA: For cases where LAFHA is temporary, the assessment will be based on your unique set of conditions.
- Choose a different lender: Some of our lenders have better letter formats than others, which accountants are more comfortable with.
- Declare a lower income: Do you really need that high an income to get approved for your loan?
- Include a disclaimer: Some lenders allow a disclaimer to be included in their standard letter format. Please call us for disclaimer templates.
- Provide your BAS: Can you provide your BAS as evidence of your income? Then you will not need an accountant's letter.
- Alternative income verification: There are a variety of ways that you can prove your self employed income that may be acceptable to one of our banks.
- 60% of the property value through larger second tier lenders. You can get competitive interest rates at this Loan to Value Ratio (LVR).
- 75% of the property value through smaller specialist lenders. However, you'll likely have to pay higher interest rates.
- 80% of the property value on short term caveat loans through a select few specialist lenders. Please note that interest rates will be significantly expensive in this case.
- The bank takes security over the commercial property alone and can't hold you personally responsible if things turn pear-shaped.
- Conglomerates, joint ventures and companies with multiple shareholders can borrow in a simplified way.
- You can still reap the tax benefits of leasing out a commercial property with limited personal liability.
- You can get same commercial loan terms (apart from the interest rate) including 5, 10, 15 and even 25 year terms.
- This type of lending is only available to strong applicants who can provide strong financials and have a clean credit file.
- It's only available to investors looking to borrow above $5 million.
- Your LVR may be reduced to 50% (varies).
- You will be charged a higher commercial interest rate than if you were to apply for a more traditional commercial loan. Typically, this would be a bank bill swap rate (BBSY) plus a risk margin.
- Guarantor loan for investment: Your parents can use their property to secure your investment loan. This will allow you to borrow up to 105% of the property price and you won't need to pay Lenders Mortgage Insurance (LMI).
- Another property as security: If you already own property then you can use the equity in your existing property as a deposit for the new investment purchase. You can borrow 100% or 105% of the property value depending on the lender you apply with.
- Buying a property in a trust or SMSF.
- Applying for a construction loan.
- Requesting a 10 year interest only period.
- Buying a property together with three of your friends.
- Buying a property with the support of a guarantor.
- Freehold showroom: Borrow up to 70-75% of the property value or up 105% of the property value using a residential property as security or with a guarantor.
- Maximum loan term: 25 years.
- Maximum interest only term: 5 years.
- Loans over $5,000,000: Assessed on a case by case basis.
- Running a business: A business plan is required showing cash flow and revenue forecasts.
- Low doc options: In the form of Business Activity Statements (BAS) and business transaction statements.
- Interest rate discounts: Depends on your application strength and negotiations by your mortgage broker.
- If you're a mortgage holder, you can refinance to take advantage of lower rates on the market and other features that can help lower your repayments.
- You can even refinance to access equity and free up funds to pay for unexpected expenses.
- Start saving if you can, preferably in a term deposit account that offers a high rate of interest.
- Take the help of a financial adviser to see where you can reduce your monthly commitments and improve borrowing power.
- Get pre-approved for a home loan so you know what you can afford.
- You might qualify for various government schemes, grants and benefits; they usually have a property price threshold.
- A 3-5% deposit: As a general rule, you need to have 3-5% of the purchase value saved as a deposit. There are some lenders that will accept equity in another property as a deposit.
- Sufficient income: You don’t need to earn a big income to qualify for a 97% investment mortgage but you do need to be able to afford the mortgage repayments as well as other commitments you may have, such as bills and existing debt, without any hardship.
- Strong employment history: You’ll need to have been in your current job for at least 6 to 12 months. However, this requirement can be mitigated if you have existing history in the same industry.
- Clean credit history: To make sure that your credit file is clear of black marks, pay your bills, rent, credit card repayments and other commitments on time over a period of 6 months. Too many credit enquiries can also damage your credit file.
- Little to no debt: Lenders prefer borrowers who don’t have a lot of debt so having multiple credit cards or personal loans can work against you when you apply for a 97% investment loan.
- We’re able to get free upfront valuations with most of our lenders on a case-by-case basis.
- We’ll then choose the lender that comes back with the highest valuation.
- In this way, you’re not adding unnecessary credit enquiries to your credit file by applying for multiple loans, and trying to shop around for a more favourable property valuation.
- Borrow $1 million or less.
- Australian citizen or permanent resident with corresponding VISA (living and working in Australia)
- University education
- Employed in the same professional industry for at least three years
- In case of self-employed: minimum 24 months of tax returns and full financials with profit reported each year
- Strong credit history
- Professional roles such as Lawyer, Doctor, Medical Professional, Network Engineer, IT/Telecommunications, Software Developer, Accountant, Auditor, Executive, Manager (White Collar professionals)
- You can borrow the full amount you need to buy an existing business or a start-up.
- Alternatively, you can use a guarantor to secure debtor finance, an invoice financing, a large overdraft facility or even equipment and motor vehicle finance.
- You won't need a deposit or your own savings.
- You can limit your liability should you default on the business loan.
- You can get cheaper commercial interest rates, sometimes up to 5 or 6 points cheaper, by using a residential property as the security guarantee.
- Always make sure to disclose your current Afterpay balances so that your mortgage application process goes more smoothly.
- Try to reduce the amount committed to Afterpay and make early repayments whenever it is possible.
- Try not to make additional repayment commitments to your Afterpay before you apply for a home loan. This reduces your overall expenses and improves the chances of getting your home loan approved.
- Ensure that your credit card is not expiring soon and that you have sufficient funds to pay the instalments or you will be charged with late fees.
- Generally, the borrower must be self-employed in the same industry for at least a year.
- We have lenders on our panel that consider self-employment for at least six months if there is prior employment in the same industry for at least 12 months.
- More competitive products may require the borrower to be self-employed for at least 24 months.
- Your ABN must be active or GST registered for at least six months, though some lenders will accept only a minimum of one year or two years.
- Alternatives to traditional income verification, such as BAS, business bank statements, and accountant letters, are generally accepted.
- Lenders require 6-12 months of BAS.
- For low-doc refinancing, borrowers will need a credit file without dishonours or arrears in the last three months to be considered.
- 6- to 12-month BAS statement showing a high turnover.
- An accountant letter verifying your income (sometimes lenders might call the accountant to verify the letter).
- Business bank statements showing a high turnover.
- Interim financial statements.
- We have a lender that can consider low-doc applications based solely on interim financial statements, depending on the overall strength of your application.
- Verification of ABN registration.
- You must be 18 years old
- You must be an Australian citizen or permanent resident
- You must have a regular source of income
- Proof of income
- Six-month bank statements
- An employment letter
- Last two payslips
- Copy of your passport and visa that shows you’re allowed to live and work abroad
- Calls for Reform: Senators Jacqui Lambie and David Pocock have been pushing the government to address housing affordability by reforming negative gearing and the capital gains tax discount.
- Potential Impact: The Parliamentary Budget Office even modelled the impact of various reform options, suggesting potential benefits for housing affordability and government finances.
- Government Position: The current Labor government, led by Treasurer Jim Chalmers, has so far ruled out changes to negative gearing.
- Alterations and additions to existing dwellings (less than 3 storeys)
- Single new dwellings (less than 3 storeys)
- Dual occupancy dwellings
- Granny flats
- Garages and carports
- Ancillary outbuildings
- Commercial office fit-outs
- Commercial shopfront renovations
- Signage and advertising structures
- If building work is required for the opening of a small bar, pub, club, cafe, restaurant or takeaway shop
- The removal or pruning of trees above 5m in height, a canopy spread over 5m or a trunk diameter of more than 300mm, at ground level
- Dental practice premises: Borrow up to 100% of the property value (freehold).
- Dental practice business loan: Borrow up to 100% of the business value (leasehold) including fit-out and equipment costs.
- Maximum loan term for (freehold): 25 years.
- Maximum loan term for (leasehold): 15 years or as per the lease agreement.
- Interest only: Up to 5 years.
- Overdraft facility: $100,000 or more depending on applicant strength.
- Low doc commercial loans are available.
- Significant interest rate discounts on offer based on your application strength.
- Buying a start-up: Need to provide a business plan with cash flow forecasting.
- Buying an existing practice: Most recent business financials.
- You need around 3 to 5 years experience as a qualified dentist.
- Freehold purchase: Borrow up to 65% of the property value.
- Leasehold purchase: Borrow up to 65% of the business value (going concern).
- Construction: Up to 75% of the cost and 70% of the net amount of uncollected accommodation bonds.
- Maximum loan term for principal and interest repayment: 5 years (minimum 50% amortisation required)
- Maximum loan term for interest only: 3 years (subject to review).
- Borrow the amount you need (depending on the strength of your financial situation).
- Low doc options aren’t generally available.
- Interest rate discounts vary depending on the strength of your application.
- Apply for all the grants you qualify for
- Simplify the entire end-to-end process for you
- Help you get a competitive interest rate on your home loan
- Order a free upfront valuation
- Help you with settlement and beyond
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Waiving The Cooling Off Period
A cooling off period exists primarily to protect the buyer from the harsh financial consequences of withdrawing an offer. Forgoing the cooling off period is a way to show your strong intent to purchase the property. This can be a big factor in the seller accepting your offer. If a buyer withdraws from an offer with no cooling off period, he/she will face heavy costs, so waiving it shows one is definitely serious about buying. Be absolutely certain you want the property, however, as you don’t want to be stuck with hefty fees or a property you don’t want. Before making this decision, we strongly recommend you speak to your lawyer/conveyancer for independent advice.
Contact us at 1300 889 743 or fill in our online assessment form to learn more about cooling off period.
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Skipping Inspections
Inspecting the property to see if it is in proper condition is common practice. This usually includes a pest inspection and checking plumbing systems, electrical wiring and more. Forgoing some or all of these inspections makes the process more attractive to the seller, as the exchange of property can be done more quickly. However, this must be done with caution. Buying a property without getting a property inspection report is extremely risky. Once you buy, any repairs or problems are your responsibility. Again, before making this decision we recommend you speak to your lawyer/conveyancer for independent advice.
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Agreeing To Delay The Settlement Date
When buying a property, you can be flexible with the settlement date. This is something most experienced investors are not comfortable doing. If you let the seller know you are willing to be flexible with the settlement date, this makes you more attractive as a buyer, because sellers are often anxious about finding a new home. Giving the sellers time to rent out the property while finding a new home for themselves can give you an edge over other investors.
- Smash repairs workshop (freehold): Borrow up to 70% of the property value for a standard industrial unit.
- Borrow up to 100%: This may be possible with a guarantor or if you have enough equity in an existing residential property that you own.
- Maximum loan term: 15-20 years.
- Maximum interest only term: 5 years.
- Loans over $5,000,000: Considered on a case by case basis.
- Business plan: Required if you plan to run your own smash repairer.
- Experience: At least 5 years in the panel beating industry in a managerial role.
- Low doc options: Available with select lenders.
- Annual business reviews: Usually required but it depends on the strength of your financials.
- Valuations: Save thousands by choosing a lender that doesn't require new valuations.
- Practice premises (freehold property): Borrow up to 100% of the property value.
- Physiotherapy practice business finance: Borrow up to 100% of the business value (leasehold) including fit-out and equipment costs.
- Maximum loan term for freehold: 25 years.
- Interest only: Up to 5 years.
- Overdraft facility: $100,000 or more depending on applicant strength.
- Low doc commercial loans are available.
- Significant interest rate discounts on offer based on your application strength.
- Buying a start-up: Business plan required showing cash flow projections.
- Buying an existing practice: Last 6-12 months vendor business financials.
- Member of the Australian Health Practitioner Regulation Agency (AHPRA).
- Most banks require you to be in your current position for a minimum of 6 months to 12 months to borrow 80% of the property value.
- One of our lenders can allow you to borrow up to 95% of the value of the property, even if you’ve just started a new job.
- The maximum amount you can borrow is $1.5 million at 85% LVR.
- You must have a clear credit file.
- All other aspects of your situation, including income and asset position, must be strong.
- Cafe premises (freehold): Borrow up to 80% of the property value or up to 100% plus costs using a guarantor.
- Cafe business finance: Borrow up to 50% of the business value of an existing coffee shop.
- Borrow up to 100%: This may be possible if you have other property as security or a guarantor.
- Maximum loan term: 15 years.
- Maximum interest only term: 3 years.
- Equipment, invoice discounting and other business loans are available.
- Loans over $5,000,000 are assessed on a case by case basis.
- A business plan with a cash flow forecasting is required.
- 2-3 years experience in managing a cafe.
- Low doc loan and bad credit loans generally not available.
- Interest rates are negotiable depending on the strength of your situation.
- Increase sales: By spending less time on administration and data entry, you can spend more time speaking to clients and making deals.
- Grow your capabilities: Take advantage of the training, mentoring, and coaching systems already in place to train the new staff as per the mortgage industry’s specific requirements, so you can continue to grow your loan book.
- Low risk: Business process outsourcing (BPO) staff are dedicated to developing systems and training programs, and they're focused on hiring the right candidates for the job.
- Cost effective: Lower your set-up, operational, infrastructure, and technology costs.
- Short-term project flexibility: Outsourced staff can provide extra support for a short-term project, whether it's for 3 to 6 months or 6 months to 1 year.
- Increased efficiency: Offshore staff are trained to specialise in specific parts of the life of the loan. Having different specialists will create synergy within your team, make you more productive and efficient, and deliver the highest-quality experience to your clients.
- Skilled expertise: Outsourcing companies are often managed by people specialising in their respective industries. By associating with the right company, you get access to the processes and expertise of such companies, which will help you improve your process and develop your staff to handle responsibilities that will add tremendous value to your business.
- Factory commercial property: Borrow up to 80% of the property value (freehold).
- Borrow 100% of the purchase price: Using equity in a residential property that you own or a guarantor.
- Maximum loan term: 20 years.
- Maximum interest only term: 5 years.
- Loans over $5,000,000 are assessed on a case by case basis.
- A business plan is required if you’re planning on running a business from the factory.
- Interest only and principal & interest payments are available.
- Low doc options are available.
- Interest rate discounts will vary from lender to lender and the strength of your application.
- Have a grasp of your financial position and how far ahead or behind you will be repaying your home loan.
- Understand the mortgage relief packages your bank is offering.
- Your bank will ask you information to better gauge your financial situation. These include details of your new income, government support you've applied for, expenses budget, etc.
- Switching to interest only repayments.
- Accessing your redraw.
- Extending your loan term.
- Refinance to a lower interest rate.
- Consolidate your debt to manage your repayments.
- Accessing your superannuation will not affect your credit file.
- Home loan virgin? Read about how you can prepare to apply for a home loan?
- The government loves first home buyers. Discover if you’re eligible for a grant!
- Are you eligible for a down and dirty interest rate or LMI discount?
- Check out our other red hot interest rates!
- If you are in a difficult situation, they’ll use this as an excuse to overcharge you.
- If you don’t know what competitors can offer, they’ll charge as much as they can.
- If you are a loyal customer with many accounts, they see it as that you're far less likely to leave so they're happy to charge you more!
- Some lenders may restrict lending to less than 80% of the property value while others will lend up to 95%.
- Some will ignore all liabilities of the non-borrower but will still factor in living expenses but particularly if you have dependents.
- Some lenders will not apply a common debt reducer for owner occupied properties meaning it only works when buying an investment property.
- The valuer cannot access the property if the residents are in quarantine and self-isolation due to the pandemic.
- The resident does not allow the valuer to enter his/her property due to the current situation.
- The valuer is not comfortable to enter the property due to health and safety concerns.
- Outstanding debts: This refers to invoices that are yet to be paid by clients.
- Client contracts: They'll be paying particular attention to major contracts for key clients and whether they're coming to an end.
- List of suppliers: In particular, they'll take into account contracts that are about to end or if any of the suppliers are going to increase their fees and charges. In this case, they may add a premium to the business' liabilities.
- Lease remaining: The remaining years left on the lease is something that a business valuer will take note of and it's also an important consideration for the bank. Ideally, the lease should have 3-5 years left with an option to renew.
- SWOT analysis: Throughout the entire valuation process, the bank will have specialist team analysing the strengths, weaknesses, opportunities and threats (SWOT) of the business. This includes whether there are direct competitors in the same location, whether there are upcoming zoning changes to the area and what the overall industry trends and threats are.
- 30 year term: Available only with residential property as security.
- 20 – 25 year term: Available from select lenders with commercial property as security.
- 15 year term: The most common term for commercial property loans.
- 5 – 7 year term: Typical terms for commercial equipment.
- Shorter terms: Used for short term business loans, invoice discounting and development loans.
- 15 year interest only term: Available only with residential property as security, from some lenders.
- 5 year interest only term: Available from select lenders for commercial property.
- 1 – 2 year interest only term: The most common interest only term for commercial loans.
- No interest only term: The option that most lenders prefer that you choose.
- Overdraft: Typically secured by your property. Smaller overdrafts may be unsecured or only partially secured by property.
- Invoice discounting: Outgoing invoices are used as security.
- Equipment finance: The assets being financed are used as security.
- Borrow up to 50-70% of the property value depending on the mix of vines compared to the rest of the rural property.
- Borrow up to 100% of the property value by using a guarantor.
- Loans over $5,000,000 are assessed on a case by case basis.
- The bank will generally require a business plan and profit forecasting for the vineyard.
- Low doc options are not available.
- Interest rate discounts vary depending on the lender and your financial situation.
- Agribusiness line of credit is available.
- Moving to interest-only repayments for a short period
- Restructuring the loan
- Lowering repayments
- Deferring payments
- Refinance to a lower interest rate or an interest-only repayment
- Release equity to boost your cashflow
- Arrange for debt consolidation
- Up to 2 hectares: You can borrow up to 80% of the value of your land.
- 2 - 11 hectares: You can borrow up to 80% of the value of your land, through some lenders only.
- 11 - 50 hectares: You can borrow up to 60% of the value of your land, through some lenders only.
- Over 50 hectares: You can borrow up to 50% of the value of your land on a case by case basis.
- Veterinary practice premises: Borrow up to 100% of the property value (freehold).
- Veterinary practice business loan: Borrow up to 100% of the business value (leasehold) including fit-out and equipment costs.
- Maximum loan term for (freehold): 25 years.
- Maximum loan term for (leasehold): 15 years or as per the lease agreement.
- Interest only: Up to 5 years.
- Overdraft facility: $100,000 or more depending on applicant strength.
- Low doc commercial loans are available.
- Significant interest rate discounts on offer based on your application strength.
- Buying a start-up: Need to provide a business plan with cash flow forecasting.
- Buying an existing practice: Most recent business financials.
- You need around 3 to 5 years experience as a qualified vet.
- Significant interest rate discounts on offer based on your application strength.
- They analyse the company's overall position to ensure that you have the capital to reach long-term goals.
- Negotiating finance terms and interest rates with financial providers.
- Advice in structuring current debt facilities.
- Recommending finance options such as invoice discounting, term debt, equipment finance or business overdrafts.
- Building strategies for mergers and acquisitions and significant capital expenditure.
- Plans for raising capital through shareholders.
- Negotiating financial covenants and annual reviews with the financial provider.
- Building on current cash flow projections in order to reduce your credit rating and interest margins.
- Minimum length of employment: 3 month history of receiving overtime income.
- Maximum amount of overtime accepted: 100% up to a maximum of 70 hours per week in total hours worked.
- Consistency: We have lenders that accept either a group certificate, YTD income figure or 3 months payslips as evidence of your overtime. This way we can present your loan to a lender that can work with the evidence you can provide.
- Industry: All industries are accepted including mining, fork-lift drivers, trades, construction, nurses, IT, finance industry employees and hospitality.
- Borrowing power: You can borrow up to 90% of the property value and possibly 95% if you're a very strong applicant.
- Get pre-approved for a home loan so you know how much you can borrow, and if there are lenders who can help.
- Seek the help of a mortgage broker to understand your financial situation, including your borrowing power and debt-to-income ratio. If there are any hurdles like low credit scores or a small deposit, the mortgage brokers at Home Loan Experts have access to lenders who can help.
- Know the entire upfront and hidden costs of buying a home. Besides your deposit, you need to pay for stamp duty, council rates, building and pest inspections and insurance.
- For most buyers, if you borrow more than 80% of the property value, you have to pay Lenders Mortgage Insurance. LMI can be paid upfront, capitalised or as a monthly premium. So if you have a deposit that is less than 20%, you can still get onto the property ladder.
- Do not limit your location to one suburb. Expand your search to surrounding suburbs. You might find hidden gems at the right price point.
- Freehold (with gaming): Up to 65% of the purchase price.
- Freehold (without gaming): Up to 50% of the purchase price.
- Leasehold (with gaming): Up to 70% of going concern valuation by a bank instructed valuer.
- Borrow up to 100% of the purchase price with the help of a guarantor.
- Maximum loan term for principal and interest repayment: 5 years (debt to reduce to 40%).
- Maximum loan term for interest only: 3 years.
- Loans over $5,000,000 are assessed on a case by case basis.
- A business plan including business forecasting may be requested by the bank for the hotel you’re planning to purchase.
- Low doc options are not available.
- Interest rate discounts vary depending on the lender and your financial situation.
- Freehold (with gaming): Up to 65% of the purchase price.
- Freehold (without gaming): Up to 50% of the purchase price.
- Leasehold (with gaming): Up to 50% of going concern valuation by a bank instructed valuer.
- With the help of a guarantor, you can borrow up to 100% of the purchase price.
- Maximum loan term for principal and interest (P&I): 5 years (debt to reduce by 40%).
- Maximum loan term for interest only: 3 years.
- Loans over $5,000,000 are assessed on a case by case basis.
- You may be asked to provide a business plan including business forecasting.
- Preferred 3 years experience as a successful publican if you're managing the business yourself.
- Low doc options are not available.
- Interest rate discounts vary depending on the lender and your financial situation.
- You may be able to borrow up to the maximum Loan to Value Ratio (LVR) for your commercial purchase.
- You may qualify for a significantly reduced interest rate.
- 5 per cent deposit
- 4 per cent stamp duty
- $1,500 conveyancer
- $1,000 other costs
- 5 per cent deposit
- No stamp duty (some states only)
- $1,500 conveyancer
- $1,000 other costs
- First Home Owners Grants may apply (some states only)
- Your credit history, including defaults, bankruptcy and judgments on your credit file
- Your financial stability, including job history, address and ability to repay debt
- The type of property you intend to buy and how easy it would be to sell based on the bank’s valuation
- A mortgage broker (that’s us!)
- A conveyancer/solicitor (or a settlement agent in Western Australia)
- Accountant (if you are a property investor)
- You're in a strong financial position.
- You have stable employment.
- A clear credit history with little to no debt.
- Private school business (freehold going concern): Borrow up to 50% of the freehold going concern value or up to 65% if the property can be used for another purpose, whichever is less. If you have a guarantor, you can borrow up to 100%.
- Loan term: 20 years.
- Low doc: Not available with this loan.
- Non-government schools with more than 400 students and carrying government accreditation.
- Must have been in operation for at least 5 years.
- Business plan and cash flow forecasts required for the school.
- Loans over $5,000,000 are assessed on a case by case basis.
- Freehold: Borrow up to 50-70% of the purchase price depending on the nature of the property. You can borrow 100% through a commercial property guarantor loan.
- Leasehold: Borrow up to 50% of going concern valuation.
- Maximum loan term: 10 years.
- Maximum interest only term: 3 years (subject to review).
- Loans over $5,000,000 are assessed on a case by case basis.
- A business plan and at least 3 years experience in a managerial position of a dealership.
- Low doc options not available for purpose-built car yards.
- Interest rate discounts will vary from lender to lender and the strength of your application.
- Restaurant commercial property: Borrow up to 80% of the property value (freehold) or up to 100% with a guarantor or using a residential property as security.
- Restaurant business loan: Borrow up to 50% of the business value (leasehold).
- Maximum loan term: 15 years.
- Maximum interest only term: 3 years.
- Loans over $5,000,000 are assessed on a case by case basis.
- A business plan is required if you buy the business as well as the property.
- Low doc options are available.
- Interest rate discounts vary from lender to lender and the strength of your application.
- Freehold purchase: Borrow up to 60% of the property value or 70% in strong cases or up to 100% using a guarantor if the property can be used for other commercial uses.
- Leasehold purchase: Borrow up to 50% of the business value (going concern).
- Maximum loan term for principal and interest repayment: 5 years (debt to reduce to 40%).
- Maximum loan term for interest only: 3 years.
- The bank may ask for a business forecast before approving the backpacker accommodation commercial loan.
- Low doc options not typically available.
- Interest rate discounts vary depending on the strength of your application.
- Borrow up to 70% of the property value for a residential property or commercial property.
- Buy owner-occupied business premises.
- Loan term: 30 years just like a standard residential home loan or 15 years for a commercial property
- Interest-only: 5 years
- Last 12 month SMSF financials: Most lenders actually require two years financials. One of our lenders will also accept new SMSF funds as long as you can provide financials of the retail or industry super fund that you’re rolling over.
- Interest rate: You’ll be charged a margin or risk fee on top of the standard variable for the lender, but we can negotiate strongly on your behalf to get you the sharpest rate possible.
- Using a residential property as security: You can borrow up to 80% of the property value (LVR) to secure the line of credit.
- Using a commercial property as security: You can borrow anywhere between 50-80% LVR depending on the nature of the property. Commercial real estate considered non-specialised will help you to borrow more.
- Other security: Some lenders may accept a combination or residential and commercial property and business assets as security for the line of credit.
- Variable rate only: Not available on fixed rate loans.
- Minimum LOC limit: Typically $10,000.
- Maximum LOC limit: Depends on how much you’re securing with equity in your property. Some business owners have a line of credit limit up to $500,000 or higher!
- Serviceability: This basically means that your personal income is enough to cover the principal and interest payments on the LOC as well as any current debt facilities that you may currently have including your home loan and business loan. The lender will generally ask for your latest personal tax return as well as your last two years business financials.
- Purpose: Depending on the amount you’re applying for, the bank may want to know what you’re intending to use the line of credit for. Although this isn’t a specific requirement, banks like to see that they stand to make a profit through your interest repayments so they’re cautious of borrowers who don’t intend to use the LOC on a regular, ongoing basis.
- Standard commercial property: Borrow up to 75% of the land and construction costs or Land to Development Cost Ratio (LDCR) or 65% of the on completion value. With a guarantor, you can borrow up to 100%!
- Specialised commercial property: 50-60% LDCR for specialised commercial properties including landfill or waste management facilities.
- Max loan amount: Anything over $20 million on a case by case basis.
- Max loan term: Up to 3 years.
- Interest only period: For the duration of construction up to 3 years.
- Line of credit: Available. However, line fees can be expensive.
- Low doc, no doc and lease doc loans: Not available.
- Bad credit loans: Not available.
- Residual stock loans: Available to help maximise your return on investment.
- You can borrow anywhere between 60-70% of the value of the agribusiness and farmland in order to secure the line of credit.
- By using residential property as security, you can actually borrow up to 80% of the property value.
- Other security: Some lenders may accept a combination of residential, commercial property and business assets as security for the line of credit.
- Interest rate: Variable rate only using the 30, 60, 90 or 180-day bank bill swap rate plus a margin. Choose to have interest charged at intervals that best suits your business cycle!
- Capitalised interest: For up to 2 years with some lenders.
- Loan term: Unlimited revolving facility.
- Minimum LOC limit: Usually $10,000.
- Max LOC limit: There is no limit! As long as you have the equity and can show that you can afford the LOC, you can borrow what you need.
- Repayments: No fixed or minimum repayment requirements, freeing up your cash flow so you can grow your business.
- Sellers will view you as a strong buyer. The seller will be confident your offer is valid, as your financing is less likely to fall through. This makes your offer more competitive, especially when the seller has multiple offers.
- Having a pre-approval speeds up the final stages of the application process, since it means most of your financial information will already be in the lender’s system by then.
- Discover what type of loans we specialise in.
- Learn more about what a mortgage broker does.
- Check out our other industry awards.
- Read the many love letters from our clients.
- Start-up businesses
- Relying on profit projections
- Primary production / Agribusiness loans
- Self-Managed Super Funds
- Property developers
- Unusual or specialised security
- Freehold (the land and property): Borrow up to 50% of the property value. You can borrow 100% with the help of a guarantor.
- Leasehold (the business): Borrow up to 35% of the business value (going concern).
- Interest only: 3 years.
- A business plan with cash flow forecasting will need to be presented (with the help of an accountant).
- Low doc options not available and you'll need to be in a good financial position.
- Interest rate discounts may be available depending on your situation.
- Expansion of its First Home Buyer Assistance Scheme (FHBAS)
- There will be no First Home Buyer Choice, which means there will be no option to choose between property tax and transfer duty on new purchases.
- Windfall Gains Tax
- Build-To-Rent
- Rental Reform
- Support for first-home buyers
- Rent limit
- Build-To-Rent
- Standard commercial property: Borrow up to 80% of the property value or up to 100% with a guarantor or using a residential property as security.
- Purpose-built commercial property: Borrow up to 60% of the property value.
- Retail business loan: Borrow up to 50% of the business value.
- Low doc, no doc and lease doc options available.
- Loan term: 15 to 30 years.
- Fixed rates: Up to 5 years.
- Interest only: Up to 5 years.
- Interest rate discounts vary depending on the lender and your financial situation.
- The bank will generally require a business plan and profit forecasting for the retail shop.
- Yearly reviews required on a case by case basis.
- Borrow up to 50-60% of the property value. A guarantor can help you borrow up to 100% though.
- Loans over $5,000,000 are assessed on a case by case basis.
- The bank will generally require a business plan and profit forecasting for the service station.
- Low doc options are not available.
- Interest rate discounts vary depending on the lender and your financial situation.
- You can borrow up to 70% of the purchase price of a new property in Australia with interest rates around 6.50% to 8.00% p.a.
- You can borrow up to 55% at interest rates below 5.00% if you have a high net worth and earn a primary currency.
- If you live in Australia or are married to an Australian citizen, then you can borrow more at lower interest rates.
- Interest only loans available (max 5 year term).
- Our mortgage brokers speak many languages.
- Your income must be in an acceptable currency otherwise we cannot assist you.
- Construction loans and vacant land are available at higher interest rates.
- Foreign business income is only accepted by one or two lenders.
- Around 70% of Australian households are homeowners so there is relatively little speculation.
- There’s been a consistent undersupply of housing in most capital cities.
- Australia has responsible lending legislation and prudent economic management via the Australian Prudential Regulation Authority (APRA), reducing the risk of asset price bubbles.
- Australia has never had prices fall more than 20% in one year.
- You can qualify for the same interest rates as an Australian citizen.
- Some lenders will use the tax rate of Thailand, as opposed to Australian tax rates, which can greatly improve your borrowing power.
- Loans available for purchase, refinance, investment property or to buy a house and land package.
- If you’re a dual citizenship holder or married to a Thai citizen, some lenders may treat you as a foreigner which means that choosing a lender that favours expats is essential to getting approved.
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- Get the same interest rates as an Australian citizen.
- Some lenders will use the tax rate of Ireland, as opposed to Australian tax rates, which can greatly improve your borrowing power.
- Loans available for purchase, refinance, investment property or to buy a house and land package.
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- Revert to lender’s standard variable rate: This happens automatically, as soon as your fixed or introductory period ends.
- Reprice: You can approach your bank to request a lower interest rate. Do your research thoroughly and look at what your lender is offering to others beforehand. Visit our negotiating your interest rates page for some tips.
- Re-fix: You can choose to fix your repayments again if you want a predictable monthly repayment system. However, this will be a different rate than your previous one. Lenders will re-evaluate your loan, your circumstances, and the market and offer you another fixed rate.
- Refinance: You can opt to look at other lenders that are offering lower interest rates and cashback on refinancing. Keep in mind that there are administrative and legal costs associated with refinancing.
- If you are in a difficult situation, then the bank will use it as an excuse to overcharge you.
- If you don’t know what competitors can offer, they’ll charge as much as they can.
- If you're a loyal customer with many accounts, they think you'll be far less likely to leave so they'll charge you more!
- Metro Plus: Established properties in well sought after metropolitan locations. Very low risk.
- Category 1: Metro areas, capital cities in each state & major regional centres with a large population. Generally considered to be low risk.
- Category 2: Medium-sized regional centres. Considered to be low to medium risk.
- Category 3: Smaller towns with fluctuating property markets. Considered to be medium to high risk.
- No Category / National Locations: All other postcodes that aren't included in the above categories. Considered to be very high risk.
- High Density: Inner-city suburbs or areas with high rise residential buildings. High-density units in these areas are considered to be very high risk.
- Recreation centre (freehold): Borrow up to 70% of the property value.
- Borrow up to 100%: Using a guarantor or if you have enough equity in residential real estate. Only for standard commercial properties.
- Sports centre business: Equipment finance is available.
- Maximum loan term: 15-20 years or up to 30 years with a residential property as security.
- Maximum interest only term: 5 years.
- Loans over $5,000,000: Assessed on a case by case basis.
- Taking over the business: Business plan and cash flow forecasts required.
- Low doc options: Available for standard commercial properties.
- Interest rate: Discounts vary from lender to lender and different rates apply to business finance.
- Through the lenders that deal with these specific LMI providers and have negotiated this discount on behalf of their customers.
- If your home loan is less than $600,000 and your deposit is not from a borrowed source.
- Loans less than $300,000: Very cheap LMI
- Loans between $300,000 and $500,000: Moderate LMI
- Loans greater than $500,000: Very expensive LMI
- Client book: Borrow up to 60% of the portfolio value (based on the bank's own revenue multiplier).
- Freehold property: Borrow up to 70% of the property value.
- Principal and interest (P&I): 10 years.
- Interest only: 3 years.
- Cash flow finance available with residential property as security.
- Security: Lend against commission income and premium funding.
- Business loan refinance for existing facilities.
- You'll need to be in a strong financial position.
- At least 3 years management experience is required.
- Evidence of Australian Financial Services licence (AFSL).
- Business plan may need to be provided.
- Specific professionals like doctors, accountants, lawyers, etc.
- First home buyers with a guarantor can borrow up to 105% without paying LMI.
- Home buyers (certain lenders are waiving LMI if you're borrowing more than 80% of the property value)
- Maximum loan size of $4.5 million.
- Maximum loan of 100% of the property value (borrowing more is sometimes possible).
- You must be a member of a relevant industry organisation (e.g. AMA).
- You must be a preferred medical professional such as a dentist, optometrist, veterinarian, chiropractor or a pharmacist.
- Call us on 1300 889 743 or complete our free assessment form to find out more.
- Maximum loan size of $4.0 million.
- Maximum loan of 90% of the property value.
- You must be a member of a relevant industry organisation (contact us for the list).
- Accounting professionals must either be an accountant, chief financial officer (CFO), finance manager, auditor or actuary.
- Legal professionals must either be a lawyer, barrister, judge or solicitor.
- Different professional athletes will be considered under the condition that they have an accredited manager or agent.
- Entertainment professionals must work in either the television, film, theatre, music or fashion industries. Please speak to us to find out if you're eligible.
- There is no minimum income requirement. Rental income can be considered.
- Call us on 1300 889 743 or fill in our free assessment form to find out the full criteria.
- You can borrow 100% of the purchase price as well as stamp duty.
- You must have a guarantor who is related to you and owns property in Australia.
- You don't need a deposit.
- You don't need to be in a certain profession.
- No maximum loan size.
- Call us on 1300 889 743 or complete our free assessment form to find out the full criteria.
- Your loan must not be more than 90% of the property value.
- You don’t need to be from a certain profession
- You must have a clear credit history
- You must have a strong employment history
- If you’re self-employed for two years and don’t have tax records, 6 months BAS and 6 months bank statements are accepted.
- No credit scoring
- You have a perfect credit history.
- You're buying a property (refinancing to purchase a property may be accepted).
- You don't need to be in a certain profession.
- Major metro areas only.
- Legal fees: Up to $1,500
- Bank fees: $0 to $600
- LMI: Use our LMI calculator
- Grants: Use our first home buyers calculator
- Other costs: Removalists and minor repairs
- Step 1: Enter the details of the purchase, including the property price and your deposit.
- Step 2: Enter your income and the expected rental income.
- Step 3: Enter the costs associated with the property (our calculator will estimate some of them for you).
- Bank statements,
- Tax returns, and
- Cash flow projections.
- Prepare a different strategy.
- Apply with another lender.
- If you’re a dual citizenship holder or you’re married to a foreign national, some lenders may unfairly treat you as a foreigner so choosing a lender that favours expats is essential to borrowing at the maximum Loan-to-Value Ratio (LVR).
- If you’re earning Singapore Dollars (SGD) but you can’t provide sufficient documents to prove your foreign income, such as recent payslips, or tax returns, then you may be limited to borrowing up to 80% of the property value.
- A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.
- Singapore has a private school system so lenders will include any school fees as a living expense when assessing your loan application.
- Medical practice property: Borrow up to 100% of the property value (freehold).
- Medical practice business loan: Borrow up to 100% of the business value (leasehold) including fit-out and equipment.
- Maximum loan term for (freehold): 25 years.
- Maximum loan term for (leasehold): 10 years.
- Low doc loans are available.
- Principal and interest + interest only repayments available.
- Interest rate discounts vary from lender to lender and the strength of your application.
- You may be asked to provide a business plan including business forecasting.
- You need around 3 to 5 years experience as a qualified general practitioner (GP).
- You can borrow up to 65% of the property value.
- No income evidence is required.
- Investment properties are preferred.
- Offices, warehouses, factories or retail properties in capital cities are preferred.
- You may qualify even if you have a bad credit history.
- You can borrow up to 80% of the property value (90% on a case by case basis).
- If you're on unpaid leave then you must have funds set aside to make repayments.
- Discounted professional packages, basic loans and lines of credit are available.
- You can borrow up to 80% of the property value (90% on a case by case basis).
- If you're on unpaid leave then you must have funds set aside to make repayments.
- Discounted professional packages, basic loans and lines of credit are available.
- Calls for Reform: Senators Jacqui Lambie and David Pocock have been pushing the government to address housing affordability by reforming negative gearing and the capital gains tax discount.
- Potential Impact: The Parliamentary Budget Office even modelled the impact of various reform options, suggesting potential benefits for housing affordability and government finances.
- Government Position: The current Labor government, led by Treasurer Jim Chalmers, has so far ruled out changes to negative gearing.
- You pay a once off insurance premium when your bond is issued.
- The vendor (seller) is given the deposit bond as security when you sign the contract to buy the property.
- There are short term bonds for less than six months and long term bonds for longer terms.
- The bond cannot be for more than 10% of the contract price.
- Assess your situation in full: By running through simple calculations about where you will stand if interest rates rise, they can help you find a solution that will put you in a better financial position.
- Help you refinance: One option may be to refinance your home loan and switch to a lender that will offer you a sharper interest rate.
- Negotiate with the banks on your behalf: Mortgage brokers have strong relationships with major banks and lenders so that they can access heavily discounted rates.
- A limited recourse loan to buy residential property: Borrow up to 75-80% of the property value.
- Commercial property: Up to 70% of the property value for standard commercial properties like an office unit.
- Discounts: Most lenders add a margin to their normal residential loan rates for SMSFs, but these margins vary significantly.
- You can borrow up to $250,000 secured over residential or commercial property or a charge over business assets.
- Interest rate: Based on a short term cost of funds interest for AUD or major foreign currencies plus a margin.
- Repayments: Principal & Interest (P&I) only.
- Minimum loan term: 14 days.
- Maximum loan term: 180 days.
- Annual fee: Transactional fees will also apply when requesting a letter of credit.
- Overall facility: 12 months revolving but it can less for one off or customised trade contracts.
- Use the Household Expenditure Method (HEM) based on your family size and income because it is considered unreasonable for someone to spend less than HEM each month.
- Ask you to self-assess your living expenses on your home loan application form.
- Review any bank account (cheque or savings accounts) or credit card statements they have access to in order to confirm your self assessment.
- Either accept or adjust your stated expenses to match your bank account history.
- Take the higher of the above living expense assessment methods to calculate your living expenses.
- With a little creativity, it's still possible to buy a home with no deposit
- Guarantor loans can allow you to avoid the cost of lenders mortgage insurance (LMI) entirely.
- Buying a home with a 95% loan is easier thanks to recent policy changes.
- Some lenders don't require you to have genuine savings.
- Land size up to 10 ha: You can borrow up to 95% of the property value.
- Land size up to 50 ha: Up to 90% of the property value if you are close to a major town, otherwise you can borrow 80% of the property value.
- Land size up to 60 ha: You can borrow up to 80% of the property value.
- Land size up to 100 ha: You can borrow up to 70% - 80% of the property value on a case-by-case basis.
- Land size over 100 ha: These farms may not be considered as "hobby farms" by the banks. Please discuss your situation with us if you believe your property is not "income-producing" (see below definition).
- Investment: Borrowing is restricted to 90% of the property value, but you may be able to borrow up to 95% if the property is less than 2 ha.
- Vacant land: Borrow up to 95% of the property value depending on the size of the vacant block. Please see the vacant land loan page for specific approval criteria.
- Commercial farms: We can get you a loan to buy an agricultural business (agribusiness), including equipment finance. Please discuss your situation with our mortgage brokers.
- Guarantor loans: Borrow up to 100% with select lenders only.
- Discounts: Competitive professional package and basic loan discounts are available for blocks that are up to 100 ha in size.
- Irregular hours: You must have been in your casual job for at least 6 months to qualify with most lenders. However, 3 months is acceptable on a case by case basis to a select few lenders.
- Max loan size: You can borrow up to 95% of the property value or more if you have a guarantor.
- $6,000 cashback for purchases where the loan amount is greater than $1,000,000.
- $4,000 cashback for purchases where the loan amount is greater than $750,000.
- $3,000 cashback for purchases where the amount is less than $750,000 but more than $350,000.
- Minimum purchase home loan amount must be $350,000 or more.
- Home loan application must be submitted within the promotional period.
- Lending must be new to the bank, internal refinances do not qualify.
- Repayment type can be principal and interest; and/or interest only.
- Available on owner-occupier and investor loans (excluding construction loans, company applicants and trust applicants).
- Available on Basic Variable, Standard Variable, Offset Variable and Fixed home loans.
- Applications are subject to credit approval.
- Only one cashback offer per eligible home loan.
- Minimum loan amount is $1 million
- Available for new home loans
- Only one cashback offer per eligible home loan
- Minimum home loan amount is $250,000
- Available for new home loans
- Only one cashback offer per eligible home loan
- The minimum loan amount must be greater than $250,000.
- The cashback is limited to one cashback per primary borrower regardless of the number of loans.
- The cashback excludes refinances.
- Specific professionals like doctors, accountants, lawyers, etc.
- First home buyers with a guarantor can borrow up to 105% without paying LMI.
- Home buyers (certain lenders are waiving LMI if you're borrowing more than 80% of the property value)
- Maximum loan size of $4.5 million.
- Maximum loan of 100% of the property value (borrowing more is sometimes possible).
- You must be a member of a relevant industry organisation (e.g. AMA).
- You must be a preferred medical professional such as a dentist, optometrist, veterinarian, chiropractor or a pharmacist.
- Call us on 1300 889 743 or complete our free assessment form to find out more.
- Maximum loan size of $4.0 million.
- Maximum loan of 90% of the property value.
- You must be a member of a relevant industry organisation (contact us for the list).
- Accounting professionals must either be an accountant, chief financial officer (CFO), finance manager, auditor or actuary.
- Legal professionals must either be a lawyer, barrister, judge or solicitor.
- Different professional athletes will be considered under the condition that they have an accredited manager or agent.
- Entertainment professionals must work in either the television, film, theatre, music or fashion industries. Please speak to us to find out if you're eligible.
- There is no minimum income requirement. Rental income can be considered.
- Call us on 1300 889 743 or fill in our free assessment form to find out the full criteria.
- You can borrow 100% of the purchase price as well as stamp duty.
- You must have a guarantor who is related to you and owns property in Australia.
- You don't need a deposit.
- You don't need to be in a certain profession.
- No maximum loan size.
- Call us on 1300 889 743 or complete our free assessment form to find out the full criteria.
- Your loan must not be more than 90% of the property value.
- You don’t need to be from a certain profession
- You must have a clear credit history
- You must have a strong employment history
- If you’re self-employed for two years and don’t have tax records, 6 months BAS and 6 months bank statements are accepted.
- No credit scoring
- You have a perfect credit history.
- You're buying a property (refinancing to purchase a property may be accepted).
- You don't need to be in a certain profession.
- Major metro areas only.
- Step 1: Enter the details of the purchase, including the property price and your deposit.
- Step 2: Enter your income and the expected rental income.
- Step 3: Enter the costs associated with the property (our calculator will estimate some of them for you).
- Borrow more than $500,000.
- Purchases and refinancing are both eligible.
- You’ve saved a 5% deposit yourself or have a history of paying rent on time; rental history can be accepted in place of genuine savings.
- Borrow no more than 90% of the property value plus Lenders Mortgage Insurance (up to 95%).
- Be in your current job for at least three months, with 24 months in the same line of work.
- Have a perfect credit history.
- Borrow more than $500,000.
- Purchases and refinancing are both eligible.
- You’ve saved a 5% deposit yourself or have a history of paying rent on time; rental history can be accepted in place of genuine savings.
- Borrow no more than 90% of the property value plus Lenders Mortgage Insurance (up to 95%).
- Be in your current job for at least three months, with 24 months in the same line of work.
- Have a perfect credit history.
- Borrow more than $500,000.
- Purchases and refinancing are both eligible.
- You’ve saved a 5% deposit yourself or have a history of paying rent on time; rental history can be accepted in place of genuine savings.
- Borrow no more than 90% of the property value plus Lenders Mortgage Insurance (up to 95%).
- Be in your current job for at least three months, with 24 months in the same line of work.
- Have a perfect credit history.
- Borrow more than $500,000.
- Purchases and refinancing are both eligible.
- You’ve saved a 5% deposit yourself or have a history of paying rent on time; rental history can be accepted in place of genuine savings.
- Borrow no more than 90% of the property value plus Lenders Mortgage Insurance (up to 95%).
- Be in your current job for at least three months, with 24 months in the same line of work.
- Have a perfect credit history.
- Borrow more than $500,000.
- Purchases and refinancing are both eligible.
- You’ve saved a 5% deposit yourself or have a history of paying rent on time; rental history can be accepted in place of genuine savings.
- Borrow no more than 90% of the property value plus Lenders Mortgage Insurance (up to 95%).
- Be in your current job for at least three months, with 24 months in the same line of work.
- Have a perfect credit history.
- We’re able to get free upfront valuations with most of our lenders on a case-by-case basis.
- We’ll then choose the lender that comes back with the highest valuation.
- In this way, you’re not adding unnecessary credit enquiries to your credit file by applying for multiple loans, and trying to shop around for a more favourable property valuation.
- Up to 95% of the value of the block of land, if you’re buying land first and building later.
- Up to 90% of the completed value of the property if you’re buying a turnkey property.
- 100% if you’re buying with a guarantor.
- One person can borrow on a jointly-owned property.
- All parties must consent to the loan.
- All parties are joint and severally liable for the loan.
- Every loan is considered based on its individual circumstances.
- Many banks will not accept this home loan structure.
- Prepare a different strategy.
- Apply with another lender.
- 5 per cent deposit
- 4 per cent stamp duty
- $1,500 conveyancer
- $1,000 other costs
- 5 per cent deposit
- No stamp duty (some states only)
- $1,500 conveyancer
- $1,000 other costs
- First Home Owners Grants may apply (some states only)
- Your credit history, including defaults, bankruptcy and judgments on your credit file
- Your financial stability, including job history, address and ability to repay debt
- The type of property you intend to buy and how easy it would be to sell based on the bank’s valuation
- A mortgage broker (that’s us!)
- A conveyancer/solicitor (or a settlement agent in Western Australia)
- Accountant (if you are a property investor)
- Buying a property in a trust or SMSF.
- Applying for a construction loan.
- Requesting a 10 year interest only period.
- Buying a property together with three of your friends.
- Buying a property with the support of a guarantor.
- Sellers will view you as a strong buyer. The seller will be confident your offer is valid, as your financing is less likely to fall through. This makes your offer more competitive, especially when the seller has multiple offers.
- Having a pre-approval speeds up the final stages of the application process, since it means most of your financial information will already be in the lender’s system by then.
- Get pre-approved for a home loan so you know how much you can borrow and the price range to view.
- As banks are scrutinising debt-to-income ratios, try to get a handle on your debts and prove to the lender you can keep up with mortgage repayments.
- You don't need to save a 20% deposit, as there are low-deposit options available. First home buyers can take advantage of government grants and schemes and buy a home with a deposit as low as 5%.
- Get a property report so you don’t overpay.
- Cast your net widely and look for suburbs outside of capital cities. You can use our postcode calculator to find out if banks will lend in the area where you’re looking.
- If your parents own property in Australia, they could be guarantors on your home loan. With a guarantor, you can borrow 100% without paying Lenders Mortgage Insurance.
- Get a team of homebuying experts from the onset of your home buying journey.
- The location of the property.
- Your personal income and financial position.
- The strength of the tenant and length of the lease.
- The yield and cap rate.
- The bank valuers’ recommendations.
- Show that your credit score has improved
- Show you’ve been diligent and consistent with your repayments
- Pay off your other debts
- Decrease your credit-card limits
- If your income has increased, prove it
- You’ll need to prove that you have the funds to pay out your partner if there isn’t sufficient equity in the property. This is just like a loan for a purchase.
- Unlike a purchase, you don’t need to prove any genuine savings.
- You must have a good repayment history on your current home loan, which is the same as if you were applying for a loan to refinance a property.
- You’ll need to prove that you have the funds to pay out your partner if there isn’t sufficient equity in the property. This is just like a loan for a purchase.
- Unlike a purchase, you don’t need to prove any genuine savings.
- You must have a good repayment history on your current home loan, which is the same as if you were applying for a loan to refinance a property.
Must be at least 18 years old.
Must be an Australian citizen or permanent resident.
Must have a stable employment history in the education sector, typically for at least 6-12 months in your role.
Must have a strong income and be able to provide evidence of your income, such as payslips and tax returns, from both your primary and secondary jobs (if applicable).
Overtime income: Our Home Loan Experts know lenders that will allow 100% of overtime income to be factored into your loan application, which can improve your borrowing capacity.
- Calculation of casual income: Our Year-To-Date (YTD) calculator projects your casual income for 40-48 weeks based on your earnings so far, to provide a comprehensive view of earning potential.
- You can potentially save thousands by avoiding LMI.
- You may qualify for a lower interest rate.
- It’s a more straight-forward process with less paperwork.
- Who uses LMI? : ANZ, CBA, NAB, Westpac, ING, Suncorp, St. George, Widebay Capricorn, AMP, Citibank and many more.
- Who has their own insurer?: ANZ, Westpac, St. George and Widebay Capricorn.
- Who can charge a risk fee?: St. George (LEF), ING and most non-conforming lenders.
- Nurses
- Teachers
- Government employees (federal and state preferred over local level)
- Scientists
- Australian Defence Force (ADF) staff (special discounts may be available)
- They cost less than your standard home loan.
- They allow you to buy even if you don’t have a deposit.
- Some lenders allow you to limit the size of the guarantee.
- You’re borrowing 80% of the property value or less
- You’re borrowing to buy a property
- Your loan amount is below $800,000
- The property is located in a capital city or major regional centre
- You can provide full evidence of income
- You’re buying through a registered real estate agent
- You are not related to the seller
- You’re buying an existing property (not off-the-plan or new building)
- Declare your debts when applying for a loan including any credit cards that are inactive.
- Borrow within your borrowing capacity.
- If you want to borrow more, talk to us about what options may be available by calling 1300 889 743 or by completing our free assessment form.
- AMP - Free.
- ANZ - Free.
- Bankwest - Between $0 and $49.
- Commonwealth Bank (CBA) - Between $0 and $49.
- Gateway Credit Union - Free for properties valued over $1 million (the cost will be rebated at settlement). For valuations up to $1 million, the valuation cost is $325.
- Macquarie Bank - Free.
- National Australia Bank (NAB) - Free.
- Pepper Home Loans - Between $300 and $500.
- St George - Free.
- Suncorp - Free.
- Westpac - Free.
- Your home loan must not exceed 100% of the property value.
- You must be a member of a registered medical association.
- You must be working in your professional field, although no minimum income benchmark is required.
- You must have stable employment and be earning a regular income, although we can assist if you're a self-employed physician.
- You must buy a residential property. (Only Category 1 and 2 locations accepted)
- You must hold a university degree from Australia or overseas.
- You must be an Australian citizen or permanent resident living and working in Australia.
- You must be employed and not on probation.
- You have PAYG income in the industry for at least the last three years; doesn’t all have to be with the same employer but you must be past your probation period.
- Minimum credit score required.
- You need a minimum of 2 years’ tax returns and full financials if self-employed. ABN must be registered for at least two years and you must provide evidence of reported profit each year.
- The maximum loan amount is $1 million.
- Most recent Australian tax return, or
- AHPRA registration certificate/copy of the registration with the Medical Practitioners Board of Australia, or
- TCopy of Australian University degree or qualification.
- Low doc commercial loans: If you can't prove your income then this can be an option for you. A low doc commercial loan can be taken out using an accountant's letter, BAS statements or bank account statements.
- Lease doc commercial loans: In a lease doc loan, the lender relies on the strength of the rent income from the security property that you provide. This way, you don't need to show any payslips, tax returns or other financial statements.
- No doc commercial loans: You won't need to provide any financial statements with a no doc loan. However, lenders have stricter criteria and usually reject specialised commercial properties such as petrol stations.
- Bad credit commercial loans: Lenders can accept a limited bad credit history, arrears and reduced income evidence with this. However, you'll likely have to pay a higher interest rate and need a large deposit.
- Specialised commercial property loans: This is for specialised commercial properties such as aged care facilities, hotels, pubs, and more.
- Franchise loans: This includes mortgages for commercial franchises such as domino's, donut king and subway.
- Large crop plantations.
- Dairy farm capabilities including working milking machines.
- Commercial orchards with thousands of trees.
- Several cabins or tourism-style accommodation.
- A large herd of cattle.
- The effect of the COVID-19 (Coronavirus) on your business.
- What contingency plans do you have?
- How will you manage existing fixed business costs from your current cash flow?
- What level of cash reserves do you have to meet wages and loan repayments?
- Decide if you want to refinance: Refinancing may not be a good choice if you're on a fixed rate. Depending on your loan contract, you may also have to pay expensive exit fees.
- Choose the right loan and lender: Shop around for a mortgage. Select the lender that can offer you the interest rate and features you want.
- Apply for the mortgage: Prepare your documents and apply for the mortgage. The new lender can get your information more easily if you inform your existing lender beforehand.
- Get approval: You'll get formally approved after the lender receives and checks all of your documents. If you have a security property, the lender may want it to be revalued. You then move on to the final step in the business loan refinancing process.
- Settlement: The new mortgage will now be used to pay off the old one. Settlement occurs after you sign the new loan contract. You'll start paying off the new mortgage usually within a month after settlement.
- Australian citizens.
- Australian expats.
- New Zealand citizens.
- Permanent residents (PR).
- New Zealand
- China
- Japan.Chile
- Korea
- The United States
- Singapore
- Thailand
- Malaysia
- Bank of Melbourne: 0.20% (20 basis points) effective 18 June 2019
- Bank SA: 0.20% (20 basis points) effective 18 June 2019
- Bendigo: 0.20% (20 basis points) effective 28 June 2019
- Citibank: 0.20% (20 basis points) effective 14 June 2019
- Heritage Bank: 0.20% (20 basis points) effective 21 June 2019
- RAMS: 0.20% (20 basis points) effective 18 June 2019
- St George: 0.20% (20 basis points) effective 18 June 2019
- Sun Corp: 0.20% (20 basis points) effective 21 June 2019
- Migrants are returning, as Australia has opened its international borders. There will be high rental demand, which can incentivise investors.
- Australia’s strengthening economy, low jobless rate and rising income growth should keep distressed listings to a minimum.
- The government announced a large increase in places for its existing home guarantee schemes and its new Regional Home Guarantee.
- Are you spending more than what you earn?
- Are the debts due to normal circumstances such as a business failure or loss of job?
- They may give you a warning: Sometimes a bank will “give you a pass” but they will tell that you need to improve the financial position of the business by next review.
- The review might be brought forward: Instead of waiting till the following year, the bank may look to do another review in 3-6 months and may even specify financial benchmarks or covenants that the business will have to hit or action in that time.
- 3-6 months grace: In situations where you don’t quite have your financials in order, some banks can give you 3 months to provide this information. In some cases, they give you up to 6 months leeway with approval from a credit manager.
- They can re-price your loan: This includes charging you a higher interest rate, which is usually sign that you should refinance to another bank.
- The financial strength of your tenant.
- The remaining term of the lease (>12 months minimum).
- The interest cover ratio.
- Annual or monthly account-keeping: Varies between lenders and some will waive the fee depending on how much you're depositing into the account on a monthly basis.
- Transaction fees: Some lenders don't have any transaction fees at all or a few fee-free transactions.
- Minimum amount in the offset: $5,000.
- Minimum withdrawal amount: $1,000.
- Last year's financial statements (profit & loss and balance sheet)
- Last year's business tax returns
- Last year's personal tax returns
- Last year's notices of assessment
- Based on your latest Centrelink statement, work out your fortnightly income.
- Multiply this amount by 26 to find your annual tax-free income.
- Based on you or your partner's last payslip, calculate your annual taxable income.
- After that, use the ‘How much can I borrow?’ calculator to get a pretty accurate estimate of your maximum borrowing capacity.
- PAYG employees: You're generally required to provide payslips and group certificates. Where you can only supply a letter of employment, the amount you borrow may be reduced.
- Self-employed: You may be required to provide 2 years of tax returns.
- Prioritise paying off high-interest debts: Your high-interest loans or credit cards often accumulate debt the fastest. Try allocating a larger portion of your income to pay off these high-interest debts first, which can decrease your total debt more quickly.
- Consider debt consolidation: Debt consolidation can be a good option if you have multiple debts with high-interest rates. This involves taking out a new loan to pay off your existing debts. The new loan will have a single monthly payment and a lower interest rate, which can save you money in the long run.
- Create a budget and stick to it: A detailed budget can help you understand where your money goes each month. Once you've identified non-essential expenses, you might find opportunities to cut back and save more towards paying off your debts.
- Consider a side Job or freelancing: If your primary job allows for it, a side job or freelancing can be an excellent way to boost your income. This extra income can be directed towards reducing your debts.
- Ask for a raise or promotion: If you've been at your job for a while and have consistently performed well, it might be time to ask for a raise or seek a promotion. Increasing your income can improve your DTI ratio over time.
- Rent out spare space: If you have extra space in your home, you can consider renting it out on platforms like Airbnb to generate additional income.
- Setting up automatic payments, ensuring that your bills are paid on time.
- Paying more than the minimum debt payments each month, so that it'll be paid off sooner. You’ll also save on interest this way.
- Avoid using credit cards for unnecessary purchases.
- If you are having trouble making a payment, contact your creditor as soon as possible. They may be able to work with you to create a payment plan that you can afford.
- Paying down your mortgage. This will help you pay down your loan faster and improve your LVR.
- Building equity in your home.
- You don’t provide materials, only your labour.
- You work for a single company only.
- You charge your labour at an hourly or daily rate.
- You pay your own taxes and superannuation.
- You can borrow up to the maximum Loan to Value Ratio (LVR).
- You can qualify for discounted commercial interest rates.
- You can qualify for other business finance including an agribusiness line of credit and equipment finance.
- Your last two years’ financial statements (profit and loss and balance sheet).
- Your last two years’ business tax returns.
- Your last two years’ personal tax returns.
- Your last two years’ notices of assessment.
- Your 6 months home loan statements.
- Make all of your repayments on time: Set up a direct debit and have loan repayments scheduled for your payday. You should also maintain a savings account with a pool of money to ensure you don’t miss your repayments.
- Close any unnecessary and unused credit facilities/accounts, and keep the necessary evidence such as outgoing financial institution closure letter.
- Only apply for credit or a loan if and when you need it. Do your research before applying for a home loan and go with a lender that will take a common-sense approach to your situation.
- Do not overdraw your credit card or your savings account.
- Pay any defaults listed on your credit file.
- Label all transactions, so you remember what they are, and the banks can also see what the payments are for.
- Stay in your current job and living address until you apply for your loan. This information will still play an important part when banks generate their own credit score.
- Show that you are good with your money by making regular deposits to a savings account.
- Talk to your credit provider if you’re in financial trouble. They may be able to help you by setting up a payment plan.
- Ensure your credit file has accurate and up-to-date information. If you’re a Home Loan Experts customer, we can apply to get you a free copy of your credit file and guide you through what it means for you and your ability to get finance.
- Standard SMSF Investment Loans: Up to 80% of the property value. However, please note that most lenders will restrict your loan up to 75% of the property value.
- Commercial property: Up to 70% of the property value for non-specialised securities.
- Low doc (no income evidence): Read the SMSF low doc loan page for more qualifying criteria.
- Residential properties
- Offices
- Factories
- Warehouses
- Retail shops
- Restaurants
- Rural properties
- Farms (conditions apply)
- Development sites
- Vacant land (in some cases)
- Properties in a poor condition
- Single use securities such as pubs, petrol stations and day care centres
- The trajectory of the interest rate will be a key factor in the future of the housing market. With interest rates set to normalise over the next 12 to 18 months, there is an expectation that most of Australia’s capital cities will move into a period of decline due to less demand.
- The housing debt to household income ratio is at record highs; which means people are more sensitive to rising interest rates.
- A prolonged period of high inflation would lead to lower rates of household savings and weaken the borrower’s ability to meet serviceability assessments.
- There is a strong correlation between consumer sentiment and housing market activity. Consumer sentiment was 5.6% in May, which was the lowest level since August 2020.
- Unemployment levels are low. If income growth can outpace housing values, the deposit hurdle will lessen.
- The chances of distressed listings are low, as many households were ahead on their mortgage repayments.
- Mortgage stress would be minimised, as borrowers were assessed at a buffer of 3 percentage points in October last year.
- A letter from the TAC confirming the lump sum compensation your received.
- A employment letter confirming your job status and/or return to work date.
- A doctor's certificate and letter detailing your return to work date.
- Evidence of your income prior to the injury (payslips, group certificates etc).
- Three of your most recent bank statements.
- Two years' tax returns.
- Benefit to the loan guarantors: The beneficiaries of the SMSF must be the same as the directors of the trustee company of the unit trust, so there is a benefit for the guarantors of the loan.
- SMSF liquidity requirements: Some lenders have strict liquidity requirements which is essentially how much of your trust balance is leftover after purchasing the property.
- In-house assets test: The property purchase must not breach the in-house asset ruling set out in the Superannuation Industry (Supervision) Act 1993 (SIS Act).
- Buy a property in a growth market which can be resold at a higher price just by holding onto the property over the short-term.
- Buy a property below market value that requires minor renovations and make strategic capital improvements that allow you to sell at or above market value.
- ATO Income Statement (obtained from myGov website).
- Letter from your employer.
- Group certificate for the most recent year.
- Tax return.
- Bank statements for the last three months which show regular payments into your account (payments must be consistent).
- Of the total amount, 90% is a normal loan with a 30-year term.
- The remaining 10% is a specialist cashflow loan with a higher interest rate and a shorter term of up to 10 years.
- The lands and title office will check the last 30 years records of the land.
- A surveyor will then inspect the land to determine whether the land matches the description in the deed provided by the vendor (seller of the property).
- A survey plan will be required to be drawn if the boundaries aren't properly defined and so the notation or limitation can be removed from the title.
- The survey report will then be provided to your solicitor, who can notify your bank as part of your home loan application.
- $1,200 to lodge your application with your land titles office.
- $250 for a standard title search or $50 for an Old System title search.
- $1,500-$3,500 (plus GST) for the plan of redefinition report.
- Calculating your new borrowing capacity to see how much you can afford to borrow and provide insights into what type of property you can afford.
- Exploring low-deposit home loan options and finding the best ones for you.
- Exploring government schemes and grants that may be available to you.
- Expediting pre-approval. Knowing your borrowing capacity will allow you to confidently explore properties within your budget, putting you ahead of the competition in the competitive property market.
- Providing educational resources and guidance on the home-buying process. From property inspections to settlement procedures, we'll equip you with the knowledge to navigate the process with ease.
- If your payslips don't reflect your actual income, providing your latest group certificate may be enough to prove your after-tax income.
- If you've been working for less than a year or your tax return doesn't reflect the salary for a full financial year, you may need to provide a copy of your work contract.
- To improve your borrowing power, a couple of our lenders will add back your allowances to better show your actual income.
- Borrow up to 60% of the value of the shares in the barristers chambers.
- Borrow up to 100% with the help of a guarantor.
- Maximum loan term for principal and interest repayment: 10 years
- Maximum loan term for interest only: 3 years (within overall 10 year term).
- No max loan limit: The amount you can borrow depends on the strength of your situation.
- No annual reviews required.
- Low doc options aren't generally available.
- Significantly reduced commercial rates on offer by negotiation.
- You must be fully qualified and working full-time.
- You must be registered with the Australian Health Practitioner Regulation Agency (AHPRA).
- There is no minimum income requirement although you’ll need to demonstrate your ability to pay back the home loan as per standard bank policy.
- Up to 100% of the value of your residential properties at very competitive interest rates.
- Up to 80% of the value of your commercial properties.
- First Home Guarantee: First home buyers can buy or build a home with a 5% deposit.
- Family Home Guarantee: Single parents can buy or build a home with a 2% deposit.
- Regional Home Guarantee: The new Regional Home Guarantee will provide up to 10,000 places each year from 1 October 2022. The price caps for this scheme are yet to be announced.
- A guarantor home loan is the best option that allows you to borrow 100% of the property value.
- Lenders also offer no deposit and small deposit home loan options, if you’ve saved at least a 5% deposit for a home loan.
- New or existing gym: Borrow up to 50-70% of total business costs or up to 100% with an existing residential property as security.
- Loan term: 5 years (as per the franchise agreement)
- Loan term with the property as security: 25 to 30 years (standard loan term).
- Interest only: Typically 2 years.
- Discounted interest rates available.
- Low doc options not available.
- Borrowing over 80% of the property value may reduce the portion of your income that they use.
- Having less than a two year history of earnings may reduce the income they use.
- Not having completed your tax returns may cause some lenders to not accept any income.
- Capital gains income or other non-ongoing income may not be considered.
- Screenshots of your last 2 years ATO tax portals.
- Business Activity Statements (BAS).
- Your last 2 years balance sheets showing profit and loss as well as assets and liabilities.
- You need the equity: There is no hard and fast rule but it's recommended you have more than 50% in equity to make the bridging loan worthwhile.
- You have to meet standard serviceability requirements: This includes providing evidence of your current income, employment status, expenses and other supporting documents as if you were applying for a standard refinance.
- Bridge term of no more than 6 months for buying an existing property: Bridging term extensions are available on a case by case basis.
- Bridge term of no more than 12 months for buying a new property.
- Property Listing: Some lenders may demand that you've already exchanged unconditional sale contracts on your existing property. We work with lenders who are happy to accept an exclusive agency agreement from a licensed agent who has listed your existing property for sale on the market.
- An adequate asset protection zone
- Specialial building set backs
- Overall landscaping and construction requirements include the use of flame-resistant building material
- Insights and data like comparable sales figures, vacancy rates, demographic profiles, types of tenants, etc.
- Adding value to the property by renovating and refurbishing and making it more appealing to tenants.
- Having a property close to a CBD as newer properties are situated on the outer suburbs due to unavailability of land. However, in some cases, new apartments can also be located close to a CBD.
- Investors can get tax write-offs and take advantage of depreciation benefits. You can get tax breaks on rental advertising costs, council rates, land tax, etc.
- You are investing in a property that is attractive to the tenant as it has modern amenities and smart appliances that tenants currently want. This might help you get a tenant who is willing to pay a higher rent.
- New properties generally have lower maintenance costs, and in most cases, if anything needs renovation or replacement, it can be done easily.
- Stamp duty
- Conveyancing fees
- Legal fees
- Search fees
- Pest and building reports
- Council and water rates
- Land tax
- Property management fees
- Repairs and maintenance
- Agent fees, and more.
- Get a deposit of at least 20% of the property value ready to avoid paying Lenders Mortgage Insurance (LMI). If you own property already, you can use the equity from it as well. We also have no deposit investment loan options available.
- You will need at least three months of genuine savings in your account. This is a good indicator to lenders of your ability to save and manage your finances.
- It’s always better to have a good credit score on your file.
- You will need to be employed and earning a good income to prove to the lender that you can afford the mortgage.
- Try to reduce your expenses, as they do affect your borrowing power.
- Limit the number of credit cards you used and cancel any unused credit cards.
- Make sure you're making timely repayments on your commitments, like car loans, and buy now pay later services like Afterpay and ZipPay.
- Getting a pre-approval for your investment loan so you know how much you can afford. Once you know your budget and how flexible you can be, you can narrow down your options on where you can buy.
- We can even provide you with property reports and suburb reports since we have access to CoreLogic RP data and AMV.
- Once you've decided to buy the investment property, send it to your mortgage broker so they can help you get your financials in order.
- Use our investment property calculator to predict your weekly cash flow for your investment property.
- If you’re thinking of turning your home into an investment property, the rental income has to be declared on your tax return. Furthermore, the cost involved with an investment property, like advertising for tenants, maintenance, etc might be tax deductible. However, when you sell your property, you need to consider capital gains tax and real estate agent fees.
- While the monthly change of 1.9% is above the decade average of 0.4%, the growth rate in May 2021 was higher, at 2.2%. Canberra was the only capital city to experience an increase in property value from last month, climbing to 2.3% in June from 1.7% in May.
- Growth in capital cities is losing momentum. This is most evident in Perth and Darwin. Perth's growth rate averaged 1.4% between January and May 2021, but fell to 0.2% in June, while Darwin averaged 2.1% January to May but fell to 0.8% in June 2021. These cities had the lowest ratio of sales to new listings among the capital-city markets.
- The high end, or upper quartile, of the property market experienced a softer growth rate. Across the top 25% of property values in the combined capital markets, growth in June was 8%, which is down from 9.2% in the three months to May. CoreLogic’s Owen says, "This easing in the pace of growth at the top end of the market is another clear sign of a shift in momentum. The rest of the market tends to follow movements at the high end, and this is the first time in nine months that the high-tier growth rate has not accelerated."
- Same-day settlement: With some lenders, the exchange of contracts and settlement for both properties needs to be on the same day. For other lenders, this isn't a requirement.
- Acceptable property: The new property must be an acceptable security in an acceptable location based on the bank's requirements.
- Valuations need to stack up: Some lenders may require that the new property and your old one are of equal value or that the new property needs to be of higher value.
- Loan amount remains unchanged: Typically the loan amount can't change, however, some banks allow you to 'top up' your loan in case you're a little short.
- Be careful of the Loan to Value (LVR): If the new mortgage is over 80% of the property value of the new property, you'll have to pay Lenders Mortgage Insurance (LMI).
- Lower repayments: Ask for a longer loan term or an interest only period.
- Smaller deposit: Ask for a higher LVR or an unsecured overdraft.
- Seasonal repayments: Usually it is best to ask for an unsecured overdraft.
- A reduced rate for a large loan: Ask for a bank bill facility.
- Additional repayments: Ask for a variable rate loan.
- From the date that you apply for a loan.
- From the date that you pay the rate lock fee.
- At the time of approval.
- Most recent statement and transaction history for the last six months for your home loan that is being refinanced.
- Most recent statement for any home loans not being refinanced (if applicable).
- Most recent credit card statement (if applicable).
- Most recent personal loan statement (if applicable). This includes car loans.
- Your two most recent payslips.
- (Optional) A letter from your employer confirming your income.
- (Optional) Your last year's group certificate.
- Two years personal tax returns.
- Two years personal tax assessment notices.
- Two years company/partnership/trust tax returns.
- Two years financial statements (if available).
- As many invoices as you can provide.
- For the cheque account where you receive your pay, we will require the most recent statement and a transaction history for the last six months.
- A copy of your agreement with the company that you contract to.
- A letter from your client that proves your income and confirms if you have employees and other expenses.
- Can properly assess your situation and provide you with solutions that best suit your practice needs.
- Know how to get you approved the first time around.
- Build a strong case with the right lender that will offer you a significantly reduced interest rate.
- If you have a stable income that's regular e.g. a set weekly salary, we may be able to help you get a loan if you've been in your job for just one day!
- If you have a fluctuating income then a 3-month track record is required so that the lender can complete an annualised Year To Date assessment of your income.
- Communicating with credit officers to provide further evidence they may need to assess your application.
- Liaising with valuers, your solicitor, your builder (for construction) and even real estate agents (if you're buying an investment property or buying at auction) to ensure a smooth application process.
- Being your one point of contact across the entire process and staying in contact at each stage of the process so you know what is going on.
- Title page: This page must have your name, your title, the name and address of your business, and your ABN. If you’re a company, include your ACN.
- Executive summary: This is a concise overview of the entire business proposal. You can prepare this once you’ve completed your business loan proposal. Describe yourself, your business and how the loan will be used to meet company goals.
- Business details: This includes your business structure, location and premises, staff details, products and services, and operations plan. This can help the lenders understand your business and how you’ll be using the loan.
- Market details: Details regarding your market including your customer and competition fall under this. You can include your marketing plan to show lenders your market strategy.
- Financial details: Lenders want to see how you’ll finance your business. They also want your cost and financial projections. You can include your debtor and creditor information here as well.
- Supporting documents: This includes BAS statements, exit strategy and other supporting documents such as a cash flow forecast. You can include any document here that can support your claims and stated information. Media reports and client testimonials can also be included here.
- Set clear goals: With a clear set of goals, it can be easier for you to determine if you really need a business loan. You can then include this in your business proposal.
- Research: Researching your business, market as well as the economy can help you prepare a strong business proposal. The facts and figures you’ve researched can help you qualify for a good deal on a business loan. Note that you’ll also have to be a strong business with a strong income.
- Language and structure: The language you use in your business proposal must be simple and easy to understand. Lenders may not understand your industry jargon so limit them. Avoid a complex structure to avoid confusing the lenders.
- Seek advice if you’re uncertain: Mortgage brokers who specialise in business loans can help you prepare an acceptable business proposal. You can also seek the advice of other experts and professionals.
- Plan your presentation: Even if you have a strong business loan proposal, you’ll still have to present it properly. Prepare and plan your presentation so you can impress the lenders and get approved for a business loan.
- Real property and business value.
- Lessee's interest value.
- Net gaming takings.
- Gaming machine commissions.
- Total revenue.
- Gross margin.
- Wages for revenue figures.
- Mortgage over hotel property (or lease, if leasehold).
- Registered fixed or floating charge or Bill of Sale over the business assets of the hotel.
- Directors’ guarantee.
- A specific charge/security over the hotels’ liquor licence and, where appropriate for state legislation, related licenses for gaming or off-licence packaged liquor operations (not applicable in WA and SA).
- A deed of consent between lessor/lessee and the bank.
- Emerging suburbs are winners
- Local infrastructure like public transport is a great selling point!
- Compile a list of comparable properties that have sold in the area in the last six months to get a better idea of the market.
- The more inspections you go to, the more you’ll begin to learn what to look out for.
- Get advice from an accountant (if you are a property investor).
- House
- Townhouse
- Unit/Apartment
- Vacant Land
- Is your deposit being released to the developer?
- Beware of sales taking place prior to council approval of construction.
- Is the builder reputable?
- Are you able to get your money back if the project isn’t completed?
- Properties under 50m2 internal area.
- Land over 2 hectares in size.
- Properties in a poor condition.
- High rise apartments.
- Heritage listed properties.
- Flood zoned properties.
- Properties in small towns or remote locations.
- Converted warehouses.
- NSW – 5 business days
- VIC – 3 business days
- QLD – 5 business days
- TAS – No cooling-off period
- SA – 2 business days
- NT – 3 business days
- WA – No cooling-off period
- It’s important that you speak with your conveyancer and mortgage broker to get their advice before going to an auction. If either your conveyancer or mortgage broker recommends that you do not bid at the auction, then do not bid!
- You will need to be conditionally approved for your home loan before the auction.
- Decide on a maximum bid.
- Your solicitor or conveyancer must review the contract of sale before the auction.
- Complete your inspections (see above) a week before the auction.
- If your bid is successful, you will be required to pay the deposit immediately to the agent.
- If you are not successful at the auction then you will have lost the money for your inspections and for your solicitor to review the contract!
- NSW, VIC, QLD, SA, NT– Contract of Sale (COS)
- TAS – Contract for Sale
- WA – Offer and Acceptance (O & A)
- The sale price.
- The details of the deposit.
- The cooling-off period (if applicable).
- The settlement date.
- Any special conditions in the contract.
- Your home loan must not exceed 95% of the purchase price (95% LVR).
- You must be a member of the Australian Dental Association (ADA) or other acceptable medical association.
- You must be a dentist, periodontist, ear and throat surgeon or oral and maxillofacial surgeon.
- There is no minimum income requirement.
- Your application must be within normal bank policy.
- Relevant work references.
- Completed courses or certificates such as restaurant and catering management, barista training and having a Responsible Service of Alcohol (RSA) certificate.
- A business plan that details cash flow forecasts, market competition and business model.
- A gift from your parents: This must be a non-refundable gift and you'll need a gift letter.
- First Home Owners Grant (FHOG): You can use this towards the 3% deposit.
- Personal loan: Yes, it is possible but you need to be in a strong financial position.
- You must have a stable and regular cash flow. You can prove this using cash flow projections, BAS statements or tax returns.
- Your business must have been running for two to three years. However, a few lenders may even accept a business that's been running for only one year.
- You don't have multiple bad credit records or any major defaults.
- There hasn't been any recent restructuring in your business.
- You're an Australian resident and your security property is in Australia.
- Identify "credit issues."
- Complete a credit scoring assessment.
- Complete a credit check on you and your co-borrower.
- Work out if you need a deposit, and if so, then how much you need to save.
- Calculate your borrowing power.
- Inform you of what you need to change to get approval.
- Investment loans - such as property investors and other people with these loan types. There is no point in pre-paying the interest on a loan if it isn’t tax deductible.
- Refinancing - when you refinance, your loan can be switched to a fixed rate and to interest only repayments.
- Berowra Waters, NSW.
- Dangar Island, NSW.
- King Island, TAS
- Scotland Island, NSW.
- Magnetic Island, QLD.
- Stradbroke Island, QLD (restricted to Dunwich, Amity Point and Point Lookout).
- Lamb Island, QLD.
- Macleay Island, QLD.
- Hamilton Island, QLD.
- Norfolk Island.
- Cocos (Keeling) Islands.
- Christmas Island.
- Selling for less than your mortgage balance may require paying a shortfall out of pocket.
- Moving to a less desirable location may affect convenience and social connections.
- Downsizing could mean giving up certain amenities.
- The terms of the leaseback agreement may be in the builder’s favour.
- The length of the lease may be quite long, reducing the saleability of the property.
- The rental agreement is often for above market rents, which are not sustainable.
- If the house is inside a display home village then it may be more difficult to find another tenant if the builder cancels the lease.
- Your annual income,
- Your monthly expenses,
- The type of loan that you're applying for,
- The current interest rate,
- The type of repayment, usually principal and interest (P&I) or interest only,
- The loan term
- Estimated monthly repayments you'll be making
- Melbourne - $143,611
- Perth - $131,927
- Canberra - $128,304
- Adelaide - $110,023
- Brisbane - $90,994
- Hobart - $66,673
- A copy of the trustee: This shows that you’re a beneficiary within the trust.
- At least two years worth of tax returns: This shows consistent income from the trust.
- Two years worth of company tax returns: This will indicate that the company is doing well enough to be distributing money. Companies sometimes distribute money because they’re running at a loss and will benefit from the reduced tax.
- Identify the lenders, LMI providers and discounts for which you qualify.
- Identify your specific needs, required loan features and objectives for your loan.
- Create a simple comparison for you, by taking all of the above into account.
- Up to $300,000: 0.70%
- Up to $500,000: 0.97%
- Up to $1,000,000: 1.42%
- Over $1,000,000: 1.53%
- Litigation.
- Bankruptcy.
- Initial franchise cost and ongoing fees.
- Initial investment.
- Restrictions on what you can sell.
- Subway's obligation.
- Your obligations as franchisee.
- Financial statements including Business Activity Statements (BAS), an Australian Taxation Office (ATO) tax portal printout or bank account statements for the last three to six months showing your turnover.
- A business plan that details cash flow forecasts, market competition and your business model.
- Freehold purchase: Borrow up to 60% of the property value or 70% in strong cases.
- Borrow up to 100%: With guarantor or a residential property as security, borrow more and get longer loan terms.
- Leasehold purchase: Borrow up to 50% of the business value (going concern).
- Maximum loan term for principal and interest repayment: 5 years (debt to reduce to 40%).
- Maximum loan term for interest only: 3 years.
- Business plan with projections typically required for approval.
- Low doc options not usually available.
- Interest rate discounts vary depending on the strength of your application.
- Save time and hassle.
- Avoid getting declined.
- Borrow the amount that you need.
- Get negotiated interest rates.
- Your last 2 payslips and a group certificate.
- If you're running your own business currently with the intention of taking over the lease on the rec centre, then you'll need to provide your last 2-3 years personal business financials.
- We get tough loans approved.
- Get the right home loan for your needs.
- Get incredible interest rates.
- Fast approval and easy process.
- Our customers love us.
- Our outstanding achievements.
- Access to almost 40 lenders on our panel.
- Finance properties anywhere in Australia.
- Free upfront valuations and credit reports.
- We’re members of the FBAA and AFCA.
- We aren’t owned by a bank.
- Borrow up to 90% of the property value: This extends to self-employed IT contractors as well, subject to meeting specific lender requirements.
- Borrow up to 95% of the property value: You’ll have to be in a strong financial position and must have been in your current job for at least 6 to 12 months.
- Borrow up to 100% of the property value plus stamp duty with a guarantor loan.
- Employer superannuation contributions.
- Additional voluntary contributions.
- Rent income on the new investment property.
- SMSF dividend income (conditions apply).
- SMSF interest income (conditions apply).
- On probation: Learn which lenders and loans are available to you when you have just started a new job.
- Contract workers: Find out the reasons why lenders don’t like contract employees and how to find a lender that offer contractor mortgages.
- Self employed: Not all lenders read tax returns in the same way. Did you know some can use BAS statements or even just let you tell them what your income is?
- Casual employees: Just because you are technically casual it doesn’t mean that your income isn’t secure! You can get a home loan if your job is secure.
- Overtime reliance: As much as a third or even half of the income of nurses, police officers and shift workers comes from overtime or other bonuses. Loans are available from lenders that will take your full income into consideration.
- Temp / Agency workers: These days, agencies employ a significant part of the workforce. Most banks haven’t caught up with the times and still decline anyone employed through an agency. Of course not all lenders are the same!
- Bonus income: We know which lenders will include your bonus income as part of your annual income.
- Doctor home loans: If you’re in the medical industry, you may be eligible for great discounts and a waived Lenders Mortgage Insurance (LMI).
- Discounts for professionals: Other professionals and high net worth individuals like dentists, vets, accountants and lawyers may also qualify for heavily reduced interest rates. You can save thousands with some lenders!
- Rental income: Are you an investor who earns income through your rental property? Make it count towards a mortgage!
- Commission income: Those working in sales roles may be paid on a commission basis. Find out which lenders will accept commission income.
- Maternity Leave: Under a maternity leave home loan package, banks accept your return-to-work salary for assessing your income. Most banks allow up to 1 year of leave period but we also have a lender in our panel who accepts 2 years of leave period.
- $6,000 cashback for purchases where the loan amount is greater than $1,000,000.
- $4,000 cashback for purchases where the loan amount is greater than $750,000.
- $3,000 cashback for purchases where the amount is less than $750,000 but more than $350,000.
- Minimum purchase home loan amount must be $350,000 or more.
- Home loan application must be submitted within the promotional period.
- Lending must be new to the bank, internal refinances do not qualify.
- Repayment type can be principal and interest; and/or interest only.
- Available on owner-occupier and investor loans (excluding construction loans, company applicants and trust applicants).
- Available on Basic Variable, Standard Variable, Offset Variable and Fixed home loans.
- Applications are subject to credit approval.
- Only one cashback offer per eligible home loan.
- Minimum loan amount is $1 million
- Available for new home loans
- Only one cashback offer per eligible home loan
- Minimum home loan amount is $250,000
- Available for new home loans
- Only one cashback offer per eligible home loan
- The minimum loan amount must be greater than $250,000.
- The cashback is limited to one cashback per primary borrower regardless of the number of loans.
- The cashback excludes refinances.
- 80% of the property value: Most temporary visa holders can apply for a mortgage if they are allowed to work in Australia for at least 12 months.
- 90% of the property value: Some visa holders may be eligible to borrow up to 90% of the property value if they have a strong income, stable employment, and a longer-term visa.
- 95% of the property value: If you're married to or in a de facto relationship with an Australian citizen or permanent resident, regardless of your visa.
- Simple finance is available for up to four dwellings up to $1,500,000.
- Larger development projects can be financed if you have a strong asset position.
- Some lenders don't need proof of income if you plan to sell the properties on completion.
- You can borrow up to 70% of the Gross Realisation Value (GRV) or 80% of the hard costs.
- No presales are required for small duplex, townhouse and unit developments.
- Owner builder: We can lend up to 60% of the total cost.
- Licensed builder building their own home: 75% of the total cost.
- Standard construction with a licensed builder: 80% of the total cost.
- Land size up to 10 ha: You can borrow up to 95% of the property value.
- Land size up to 50 ha: Up to 90% of the property value if you are close to a major town, otherwise you can borrow 80% of the property value.
- Land size up to 60 ha: You can borrow up to 80% of the property value.
- Land size up to 100 ha: You can borrow up to 70% - 80% of the property value on a case-by-case basis.
- Land size over 100 ha: These farms may not be considered as "hobby farms" by the banks. Please discuss your situation with us if you believe your property is not "income-producing" (see below definition).
- Investment: Borrowing is restricted to 90% of the property value, but you may be able to borrow up to 95% if the property is less than 2 ha.
- Vacant land: Borrow up to 95% of the property value depending on the size of the vacant block. Please see the vacant land loan page for specific approval criteria.
- Commercial farms: We can get you a loan to buy an agricultural business (agribusiness), including equipment finance. Please discuss your situation with our mortgage brokers.
- Guarantor loans: Borrow up to 100% with select lenders only.
- Discounts: Competitive professional package and basic loan discounts are available for blocks that are up to 100 ha in size.
- Reduce your loan amount: If all of the lenders are giving a "declined" result then it may be because you are borrowing a high percentage of the property value.
- Have genuine savings: Australian lenders prefer to see that you have saved at least 5% of the purchase price. These funds must have been held in your account for three months or saved up over more than three months.
- Ask us for help: Our mortgage brokers are experts in non-resident lending. Please call us on 1300 889 743 or enquire online and we can let you know if you are eligible for a home loan.
- Borrow up to 90% of the property value: This extends to self-employed IT contractors as well, subject to meeting specific lender requirements.
- Borrow up to 95% of the property value: You’ll have to be in a strong financial position and must have been in your current job for at least 6 to 12 months.
- Borrow up to 100% of the property value plus stamp duty with a guarantor loan.
- You’ll need to prove that you have the funds to pay out your partner if there isn’t sufficient equity in the property. This is just like a loan for a purchase.
- Unlike a purchase, you don’t need to prove any genuine savings.
- You must have a good repayment history on your current home loan, which is the same as if you were applying for a loan to refinance a property.
- Show that your credit score has improved
- Show you’ve been diligent and consistent with your repayments
- Pay off your other debts
- Decrease your credit-card limits
- If your income has increased, prove it
- Same-day settlement: With some lenders, the exchange of contracts and settlement for both properties needs to be on the same day. For other lenders, this isn't a requirement.
- Acceptable property: The new property must be an acceptable security in an acceptable location based on the bank's requirements.
- Valuations need to stack up: Some lenders may require that the new property and your old one are of equal value or that the new property needs to be of higher value.
- Loan amount remains unchanged: Typically the loan amount can't change, however, some banks allow you to 'top up' your loan in case you're a little short.
- Be careful of the Loan to Value (LVR): If the new mortgage is over 80% of the property value of the new property, you'll have to pay Lenders Mortgage Insurance (LMI).
- Emerging suburbs are winners
- Local infrastructure like public transport is a great selling point!
- Compile a list of comparable properties that have sold in the area in the last six months to get a better idea of the market.
- The more inspections you go to, the more you’ll begin to learn what to look out for.
- Get advice from an accountant (if you are a property investor).
- House
- Townhouse
- Unit/Apartment
- Vacant Land
- Is your deposit being released to the developer?
- Beware of sales taking place prior to council approval of construction.
- Is the builder reputable?
- Are you able to get your money back if the project isn’t completed?
- Properties under 50m2 internal area.
- Land over 2 hectares in size.
- Properties in a poor condition.
- High rise apartments.
- Heritage listed properties.
- Flood zoned properties.
- Properties in small towns or remote locations.
- Converted warehouses.
- NSW – 5 business days
- VIC – 3 business days
- QLD – 5 business days
- TAS – No cooling-off period
- SA – 2 business days
- NT – 3 business days
- WA – No cooling-off period
- It’s important that you speak with your conveyancer and mortgage broker to get their advice before going to an auction. If either your conveyancer or mortgage broker recommends that you do not bid at the auction, then do not bid!
- You will need to be conditionally approved for your home loan before the auction.
- Decide on a maximum bid.
- Your solicitor or conveyancer must review the contract of sale before the auction.
- Complete your inspections (see above) a week before the auction.
- If your bid is successful, you will be required to pay the deposit immediately to the agent.
- If you are not successful at the auction then you will have lost the money for your inspections and for your solicitor to review the contract!
- NSW, VIC, QLD, SA, NT– Contract of Sale (COS)
- TAS – Contract for Sale
- WA – Offer and Acceptance (O & A)
- The sale price.
- The details of the deposit.
- The cooling-off period (if applicable).
- The settlement date.
- Any special conditions in the contract.
- Mortgage registration fee: Your new and existing bank may charge to register and deregister your mortgage, respectively. The fee charged varies accross states.
- Application fee: The lender charges this fee to cover the costs of processing your new application.
- Refinance Settlement fee: This is applied to cover the administrative and legal expenses related to finalising the refinancing process.
- Property valuation fee: This can vary according to property type and location. The new lender will charge around $300 to $600 to have your property valued, but we can order a free upfront valuation on your behalf.
- Title search fee: The new bank will run a title registry search to check for any liens, easements, or other encumbrances on the property’s title, ensuring that the buyer is getting a clear title to the property.
- Carer’s Allowance / Payment.
- Disability Support Pension (exceptions may be made with one of our lenders if you have been receiving payments for at least 5 years from the date of your home loan application).
- Foster Care Allowance.
- Any other type of Centrelink benefit.
- Existing mortgages: Some lenders use the actual repayments for your loans, whereas some use a higher assessment rate.
- Credit Cards: Most lenders will assess your credit cards as fully drawn, whether they are or not. They will then use between 2% and 3% of the credit limit as a monthly repayment in their assessment. A few of our banks can ignore credit cards that are not used or that you paid off in full each month. Also, if you have several mortgages or credit cards that you are not using, some banks will lend you much more than others.
- Personal Loans: Most lenders will use the actual personal loan repayments.
- Rental expenses, even if you live rent-free: If you live rent-free with your parents, most lenders will not add any amount to your existing commitments. But some lenders still add $150 a week as a rental expense, factoring in the cost if you had to move from home.
- Loan term: Your home loan must be at least six months old
- Purpose: Use the funds as your deposit to buy an investment property, renovate your home, consolidate debts or invest in shares.
- You must be in a good financial position: You need to have a perfect record of making home loan repayments and have a good income compared with your level of debt.
- Your credit file must be free of bad marks: You can’t get an equity release if you have a bad credit history including defaults, judgments or missed repayments.
- To top up your home loan to 90% of the value of your property: Only available with selected lenders and you need to show that you can afford the new loan amount.
- Waived Lenders Mortgage Insurance (LMI) at 90%: Available to eligible professionals if the existing home loan plus the equity release is 90% of the property value or less.
- No LMI at 80%:You don’t have to pay LMI on the increase if the total loan amount is less than 80%, regardless of your profession or income status.
- No break costs on a fixed-rate home loan:You can increase your loan if you’re on a fixed rate home loan and avoid break costs by splitting your home loan.
- Discounts: Negotiated interest rates and reduced fees available to strong borrowers.
- Close joint bank account and open up a separate one in your name.
- Consider cancelling your redraw facility or at least ask your lender that any withdrawals require joint signatures.
- Contact the Department of Human Services to find out what payments and services you may be entitled to as a result of the separation, particularly if you have children.
- Divorce doesn’t automatically cancel your will and the beneficiaries you’ve listed so update it with help from your lawyer.
- Update your superannuation details, specifically the list of beneficiaries.
- Close joint bank account and open up a separate one in your name.
- Consider cancelling your redraw facility or at least ask your lender that any withdrawals require joint signatures.
- Contact the Department of Human Services to find out what payments and services you may be entitled to as a result of the separation, particularly if you have children.
- Divorce doesn’t automatically cancel your will and the beneficiaries you’ve listed so update it with help from your lawyer.
- Update your superannuation details, specifically the list of beneficiaries.
- Identify the lenders, LMI providers and discounts for which you qualify.
- Identify your specific needs, required loan features and objectives for your loan.
- Create a simple comparison for you, by taking all of the above into account.
Living in Australia: In most cases, you need to be physically living in Australia at the time of settlement.
State requirements: The FHOG is a national scheme, but each state/territory has its own eligibility requirements and grant amounts. Some states may have residency requirements (e.g., living there for 200 days).
- Other guarantees: Are your parents planning to support your siblings? In some cases, it’s possible to have multiple guarantees on one property.
- Buying an investment: If your parents plan to buy an investment property, they may not have sufficient equity with the guarantee. It depends on the loan structure.
- Expanding their business: If they have a business loan, this may be secured on their property, which means the guarantee can reduce their future borrowing power.
- Selling their property: What if they sell the property with the guarantee on it? Some of the sale funds can be held in a term deposit as security for the guarantee until another property is found.
- Will both of you benefit from owning the property?
- In the event of a dispute, will both of you pay the mortgage?
- Is this an asset protection strategy, will one borrower invariably experience financial hardship?
- Will both people benefit from the business borrowing this money?
- If the business experiences hardship, is their family home at risk?
- Is the loan regulated or unregulated under the NCCP act?
- There is no benefit to the person offering security for the loan.
- The bank is not acting in its interests if it approves the loan.
- The person using the money doesn’t offer any security.
- These loans have a history of being trouble.
- A guarantor loan may help if you are helping your friend buy a home.
- In limited circumstances a son or daughter may borrow using their parent’s equity.
- Presents you as a serious and genuine buyer to real estate agents and vendors (sellers).
- Gives you more confidence when making offers on private sales.
- Lets you know your borrowing limit while when making an offer or bidding at auction.
- A certified copy of the stamped trust deed.
- A certified copy of the company constitution (if there’s a company trustee).
- Identification for all trustees, directors of trustees and beneficiaries of the trust.
- Tax returns and notices of assessment for the trust (not always required, in particular for low doc or for new trusts).
- Negotiated interest rates: If you're seeking a large home loan then we can negotiate a special interest rate discount for you.
- Low valuation: We can order free valuations with several lenders before submitting a loan application and then pick the lender that comes back with the highest valuation.
- Lenders Mortgage Insurance (LMI): Not every lender charges the same premiums for LMI. Use our LMI calculator to check if your LMI premium is competitive and find out if you qualify for waived LMI!
- Refinance rebates: Did you know that some lenders will pay you to refinance? Check out our current refinance rebates.
- Your minimum probationary period is between 3 months and 6 months.
- You’ve been working in the same industry or the same role for at least two years.
- Financial statements including Business Activity Statements (BAS), an Australian Taxation Office (ATO) tax portal printout or bank account statements for the last three to six months showing your turnover.
- A business plan that details cash flow forecasts, market competition and your business model for your enterprise.
- Investment (low risk): To buy or refinance the commercial farm that will be leased.
- Owner occupied (medium risk): To buy or refinance a farm that is leased to or occupied by your own business.
- Working capital (high risk): Financing the day to day operations of your commercial rural property or liquidity shortfalls.
- Have an interest in agricultural land at 1 July 2015 or acquire an interest or change that interest after that date.
- Plan to purchase farmland worth $15 million or more.
- Commercial development loan: If you're building a block with more than 4 units or a standard commercial property, you may able to borrow up to 75% of the land and construction costs (hard costs).
- Residential development loan: For blocks of units less than 4, you may be able to borrow up to 95% of the hard costs.
- How much do I feel comfortable paying?
- What is more important, my financial future or my lifestyle now?
- What are my long-term needs? Will I have children?
- How is your attitude towards money affecting your decision?
- Make your repayments on time: Set up automatic payments with your credit providers to ensure you don't miss your payments and avoid defaults being marked on your file.
- Keep in contact with lenders: If you are uncontactable then a default may be marked as a "clearout", meaning that they could not find you, and this can stay on your credit file for two years longer than a normal default.
- Pay something, not nothing: Ask your lender if you can make reduced repayments for a period of time until you can get back on your feet. Credit providers are required by law to resolve payment issues with the customers first before escalating to a debt collection agency.
- Pay off your existing defaults: This is usually done by refinancing your home to roll your debts into one easy payment.
- Keep your personal details updated: In particular, if you change address make sure you update these details with your credit providers and utility companies to ensure bills and invoices are sent to the correct address.
- Close down unused accounts: This will help better manage your outgoings and will make you a stronger applicant because lenders base their borrowing power assessment on how much available credit you have, such as a credit card limit, not what you actually use on a monthly basis.
- How much the defaults were for,
- When they occurred,
- Whether they're now paid or unpaid, and
- How long since you incurred a bad credit listing and how you've moved past the life event.
- We know which banks accept veteran pension home loans
- We know what documents and information they will require, and how best to present your application to the bank
- Our mortgage brokers are experts in getting tough loans approved
- Renovating or extending heritage sites or properties located in an overlay.
- Changing the look of an existing shop front.
- Major fit-out work.
- Installing outdoor seating or heaters on a footpath.
- Any other work that encroaches on government property or parklands.
- We can negotiate a better deal with your current lender and reprice your home loan at a lower rate.
- We can also help you find better deals from different lenders should you need to refinance your home loan.
- We will run the calculations for you so you can determine whether refinancing or repricing is the better option for your situation.
- Completed courses or certificates.
- A business plan that details cash flow forecasts, market competition and business model.
- Self employed borrowers can borrow up to 90% of the property value. However, with some lenders, you might only be able to borrow up to 80% of the property value.
- Higher loan to value ratio (LVR) loans will only considered on a case by case basis.
- If you have less than 80% owing on your current home loan, then it’s best to go with a guarantor home loan. You save thousands by not paying Lenders Mortgage Insurance.
- If your borrowing power is too low, we have lenders on our panel who can help you with your situation.
- If the stricter lending policy has hit you, talk to us. We can find a solution to suit your needs and showcase you as an attractive borrower to lenders.
- For SMSF borrowers, we know some non-bank lenders who have launched low-price SMSF loans that you can refinance.
- You can always work harder to earn more money.
- Nothing motivates you to succeed more than the need to meet financial commitments, such as a mortgage.
- Salesmen cost a company very little to keep employed in comparison to salaried employees, so they're less likely to be made redundant during economic downturns.
- You know how stable your income is and you wouldn't apply for a loan unless you were confident that you can meet the repayments.
- Residential properties
- Offices
- Factories
- Warehouses
- Retail shops
- Restaurants
- Rural properties
- Farms (conditions apply)
- Development sites
- Vacant land (in some cases)
- Properties in a poor condition
- Single-use securities such as pubs, petrol stations and daycare centres
- Tourism
- Aviation
- Hospitality (cafes, bars, restaurants, hotels, etc.)
- Sports, arts and entertainment (live performance venues, sports venues, casinos, zoos, etc)
- Retail
- If you want to use one of the major lenders, you can consolidate up to five different debt facilities with a maximum amount of between $50,000 and $100,000 depending on the lender.
- With specialist lenders, there is no limit to the amount you can consolidate provided you have enough equity in your property to cover the debt. (Equity is how much your property is worth minus how much you owe to the bank/lender.)
- If you don’t have enough equity there may still be some options available to you. In some cases, we can apply to have part of your debt written off and the rest of your debt consolidated into your home loan.
- We can get you free property reports and equip you with the right information so you can accurately work out where you want to buy.
- We can get free bank valuations with some of our lenders so you can choose a lender who provides the best valuation for your property.
- No extra fee charged for these services.
- We maintain a close relationship with over 40 lenders, which consists of major banks and specialist lenders. We know their lending criteria and will ensure that we’ve ticked all the right boxes before submitting your application to the lender.
- The weak rental conditions in Sydney and Melbourne during the first year of the pandemic led to a fall in the level of income required to service rent in those cities, to 30.5% and 24.3%, respectively.
- The portion of income required to service rent reached a record high in Hobart at 34.4% and Adelaide at 31.6% during the March 2022 quarter.
- Across combined regions, rental affordability declined. In regional areas, the portion of income required to service rent was 34%, while it was 28% for capital cities.
- Richmond – Tweed was the regional area with the worst rental serviceability; in that area, the portion of income required to pay rent increased from 45.2% in March 2020 to 53% in March 2022.
- Army
- Navy
- Airforce
- Environmental science
- Law
- Engineering
- Planning and management
- Law
- Human resources
- Lower upfront costs: You can split the costs of purchasing the property including the deposit, legal fees, stamp duty, building reports, LMI and other fees.
- Ongoing costs: There are ongoing costs of owning property, whether it’s an investment or not. These costs include rates, repairs and renovations. With a co-borrower you can share these costs together.
- Pay off the mortgage faster: With each borrower focusing on paying off their share of the mortgage, the loan can be paid down a lot faster than a typical investment loan. Just be sure to check that you won’t incur break costs for paying too much of your loan off in a short amount of time.
- Get the same interest rates as a standard borrower: You won’t pay a premium interest rate with a co-ownership investment loan. Your interest rate will be based on the amount you’re borrowing and the risk of all the borrowers involved in the application.
- Home loans: Most major banks offer 12 month, fixed rate interest on standard residential home loans.
- Investment loans: If you are taking out a mortgage to purchase an investment property, a one year fixed interest rate option is also available.
- Your business must be in the same line of work as your last job.
- Your business must be less than 18 months old.
- You must show that your business is currently trading.
- Ideally, your business should be in the service industry with low expenses.
- You must be borrowing less than 80% of the value of your property.
- Not in a remote location. This includes any bank restricted locations.
- In good condition. Damaged properties may not be accepted.
- Larger than 50m2 if it's a unit.
- Under 2 hectares if it's land.
- Easily saleable. This means it must not be a specialised or unusual property type such as a hotel or petrol station.
- Did you talk to your current lender before refinancing?
- Why are you refinancing your current loan?
- Do you know the costs involved in refinancing?
- Is the loan to value ratio lower than 80%, i.e. is the equity more than 20%?
- Do you have a good credit score?
- Did you check the comparison rate?
- Are you fine with the loan term?
- Will you own the property for a long time?
- Do you have the updated documents required?
- Will you benefit from the refinance?
- Is your fixed term ending soon?
- Will you use all the extra loan features that you get with refinancing?
- Are you getting the best deal out of the refinance?
- Banks have increased their fixed interest rates since early 2021. Variable rates are set to rise with the cash rate, affecting borrowers.
- Even if mortgage rates are expected to remain below average, households are likely to be sensitive to a higher cost of debt.
- Income growth has not kept up with the pace of growth in housing values. Between March 2020 and December 2021, wages increased by 3.3% compared with a 22.6% lift in housing values. Also, with the end of lockdowns, Australians will probably put less into savings, which will take some demand out of the housing market.
- Credit policies have tightened, lenders are more cautious.
- Supply levels are starting to return to average and above average levels in the large cities, which will provide more choice to buyers, creating less urgency.
- Get your documents ready like ID, payslips, salary credit statement, bank statements, etc.
- Use our borrowing power calculator to get an estimate of how much you can borrow.
- Pre-approvals are only valid between 3 to 6 months, depending on the lender. If there are chances that your situation will change after pre-approval, you might want to wait.
- Lenders have restrictions on certain types of property and certain postcodes. Have an understanding of which properties are acceptable.
- Take the help of a mortgage broker who will guide you through the process and help you find the best solution.
- 24 months repayment history (It includes how often you make your repayments and if you make them by the due date).
- Account open and close dates.
- Account limits.
- Your usual repayment amount.
- The type of credit products you have held in the last two years.
- Located in metro city locations.
- Close to main highways and motorways.
- Located near a main shopping or commercial district.
- Working full-time: Your most recent group certificate and you last two payslips.
- Business owner: Your last 2 years business activity statement (BAS).
- Experience: No matter your background, experience in a managerial or operations role for a similar-sized enterprise is crucial.
- Borrow up to 100% of the property value for business premises.
- Borrow up to 100% of the business value including fit-out and equipment.
- If you need a home loan fast or if you’re close to settlement
- If you have a complex situation with multiple adverse credit listings
- If your loan is under $300,000
- Cash Rate: The cash rate is the interest rate on unsecured overnight debt transactions that banks engage in with one another. It is the primary tool the Reserve Bank uses to implement its monetary policy. In other words, the RBA manipulates the cash rate to influence inflation, employment rates, and demand in the economy. The RBA sets the cash rate 11 times a year (each month, excluding January). On the first Tuesday of the month, the RBA determines whether the cash rate needs to be increased, decreased, or left unchanged. If the cash rate increases, banks can be expected to increase their rates for consumers. If the RBA reduces the cash rate, banks often lower their rates, too.
- Fiscal policy: This refers to spending and taxation decisions the government uses to shape the economy. An expansionary fiscal policy means that the government is spending more and this ultimately leads to higher interest rates.
- Economic climate: Interest rates change due to the supply and demand of funds. If banks have lots of money to lend, then interest rates will be low; whereas, less money in supply means a higher interest rate.
- Housing market conditions: Home loan interest rates are mainly tied to the forces of demand and supply, so trends in the housing market affect the interest rate. For example, if there is an increase in houses being put up for sale and the purchasing power of consumers decreases, then the interest rate decreases. Even if the RBA does not change the cash rate, banks may change their interest rates to attract customers or increase revenue. Since there are only a handful of sources for funds, if one bank raises or decreases its interest rates, then other banks often soon follow suit.
- Owner-occupier vs investment home loan: An owner-occupier home loan usually has a lower interest rate than an investment home loan.
- Money that has been held in a savings account for 3 to 6 months (depending on the lender).
- Money that you've saved over the last 3 months.
- Money held in a term deposit for over 3 months.
- Equity in an existing property (some lenders only).
- Proceeds from the sale of a property (some lenders only).
- Shares held for over 3 months.
- Some lenders will consider your last 12 months' rent as genuine savings if you're currently renting (conditions apply; available with three lenders only).
- A gift from a family member (we have gift letter templates available)
- First Home Owners Grant (FHOG)
- Advances on wages/commission from an employer
- Inheritance
- Financing of a deposit (personal loan or other borrowings)
- Builder discount/finance (restrictions apply)
- Vendor discount/finance (restrictions apply)
- Proceeds from the sale of a property or a motor vehicle
- Windfall gains
- One-off government payments (e.g. tax refund)
- Provides a joint venture head lease to investors.
- Manages the NRAS 10 year compliance requirements.
- Allocates and supervises property management services.
- Your extra repayments are limited; usually to no more than $10,000 p.a. before penalties apply.
- You may not be allowed to link an offset account to your loan.
- You may not be allowed to redraw any additional payments that you have already made.
- You may have to pay significant exit fees (break fees) if you make extra repayments, refinance, change loan types, sell your property or pay off your loan.
- Financial statements including Business Activity Statements (BAS), an Australian Taxation Office (ATO) tax portal printout or bank account statements for the last three to six months showing your turnover.
- A business plan that details cash flow forecasts, market competition and your business model.
- Registered first mortgage/s over security property.
- General Security Agreement (GSA) over all of the investor’s/owner’s rights and undertakings in respect of all security property.
- Directors’/shareholders’ guarantee.
- A second mortgage
- A personal loan
- Genuine savings;
- Employment requirements;
- Acceptable income types;
- Borrowing power including living expenses and income assessment;
- Credit score;
- Security location etc.
- The First Home Loan Deposit Scheme allows first home buyers with a deposit as low as 5% of the property value to get a home loan without paying LMI.
- Lenders also accept gifted funds from your parents as a deposit for your home.
- There are other low deposit home loan options available, however, you might have to pay LMI.
- No deposit home loan options are also available.
- Can make use of the extra features.
- Can afford the repayments even if the interest rates increase.
- Plan on refinancing your home loan.
- Plan on changing lenders or loan products when you find a better offer.
- We can get you free property reports and equip you with the right information so you can accurately work out where you want to buy.
- We can get free bank valuations with lenders who provide a suitable valuation for your property.
- No extra fee charged for these services.
- We maintain a close relationship with over 40 lenders, which consists of major banks and specialist lenders. We know their lending criteria and will ensure that we’ve ticked all the right boxes before submitting your application to the lender.
- Lender 1: $750 for loans up to $1,000,000 fixed for up to 5 years.
- Lender 2: $450 or 0.15% of the loan amount, whichever is greater.
- Lender 3: 0.15% of the loan amount.
- Lender 4: Free.
- Completed guarantor short application form (provided by your broker).
- Three forms of ID e.g. driver's license, passport, Medicare card, etc.
- Council rates notice of the property being used as security for the guarantee.
- One recent statement for the mortgage currently on the guarantor's property (if applicable).
- A signed and dated letter explaining your credit history.
- If the default has been recently paid, provide evidence of payment to your broker.
- If the default has been or is currently being disputed please provide all correspondence between you and the creditor or the debt collection agency that lodged the default.
- Your Australian Business Number (ABN).
- 12 months Business Activity Statements (BAS).
- 6 months bank statements for your main business account and personal cheque account.
- A signed letter from your accountant verifying your income.
- A copy of the email sent from the Department of Immigration confirming your visa approval, or
- A clear copy of your passport and the page of the passport that has your current visa.
- A copy of your passport.
- A certified copy of the SMSF trust deed.
- A certified copy of the custodian trust deed.
- The last 2 years financial reports and income tax returns on all related entities supported by the Australian Taxation Office (ATO) Tax Agent Portal.
- Fund income tax and regulatory return.
- For newly established super funds, evidence of ability to meet stated super contributions e.g. personal tax returns and/or payslips.
- The latest super fund statement for any fund/s you were a member of prior to the establishment of your SMSF.
- The last 2 years audited SMSF annual returns.
- A letter from accountant confirming the company trustee is not trading. You can find a template for this letter on our 'Accountant's Letter For A Bank' page.
- Name and ABN of the company or trust.
- Copy of the stamped trust deed.
- Copy of the company constitution.
- Get advice from an account or solicitor before signing up to a debt advisory.
- Don't be pressured into signing anything particularly if your business is in financial stress.
- Find out what qualifications and licences the advisor holds.
- Be wary of advisors that refuse to tell the commission or "kick back" they stand to make when recommending to a particular lender or third-party funder.
- Negotiate the fee with the help of your solicitor including payments made on a pro bono basis.
- A letter from the employer confirming that you have received overtime income for the past one or two years.
- Two recent payslips.
- Your most recent group certificate.
- You want to make extra repayments on your investment loan to maximise your capital position.
- You plan to sell the property in the immediate future (property flipping).
- Sole owner: You are the only owner of the property.
- Joint tenants: Most married couples choose this option. You each own equal shares and if one owner passes away then the other automatically owns their share of the property, irrespective of any instructions in their will.
- Tenants in common: Most friends or business partners choose this option. Ownership does not need to be in equal shares. There is no right of survivorship which means that if an owner passes away then their share of the property is transferred as per their will.
- House: You need to obtain building insurance and provide evidence.
- Unit / townhouse: The strata corporation insures the building so no evidence is required.
- Vacant land: Insurance is not required.
- You can get a discount of 0.15% to 0.20% for paying the interest in advance.
- You can combine this with an additional 0.15% to 0.20% professional package discount.
- Your total interest rate discount can be up to 0.40%!
- Larger discounts are available on any variable rate portion subject to the lender’s discretion.
- Make a list and check it twice. Make sure all your finances are in order and you’ve made a list of must-haves for your dream home. This is why you should engage with a team of experts at the start of your home buying journey.
- Make a generous offer once you’ve found a home you like. Your offer should show that you are serious about buying a home in December. Do not make a lowball offer that frustrates the seller. Make the seller aware of your terms and conditions, like a shorter settlement date or conducting a pest and building inspection before signing the contract.
- Be prepared for a counter-offer from the seller. Understand how willing the seller is to negotiate. Are they asking for a high price, or did they reject your offer completely? Be prepared to walk away if the seller does not entertain your terms.
- Keep your options open. Know what else is in the market and be prepared to make other offers. This helps you negotiate a stronger deal. The seller needs to understand that while his/her property checks the right boxes, you have other sellers lined up.
- Be quick. If all goes well, you might be closing before Santa climbs down the chimney on Christmas. Once you’re all ready, sign and seal the deal.
- Basic Variable Rate: A simple, low-rate home loan with no ongoing fees.
- Variable Rate With Offset: Extra flexibility, features, and discounts when bundled with an NAB Choice Package.
- Fixed Rate: Additional certainty and discounts when bundled with an NAB Choice Package.
- Borrowing up to 60% of the property value (60% LVR) will give you the cheapest rate.
- Borrowing up to 80% of the property value (80% LVR) will give you a cheaper loan.
- Borrowing 90% of the property value will give you a competitive/ reasonable rate, but you’ll pay Lenders Mortgage Insurance (LMI) fee.
- Borrowing 95% of the property value will be an expensive loan, especially if your loan is over $1 million.
- The Regional Home Guarantee is replaced by the Regional First Home Buyer Support Scheme
- The Super Home Buyer Scheme was proposed by the Coalition. Since the Coalition lost the 2022 federal election, this scheme will not be available.
- The New Home Guarantee Scheme will not be available from 1 July 2022.
- Do not ask for too much. Either the lender will reject your application or you will end up with a mortgage you can't repay
- Check your credit score. If it’s too low, take time to improve it. If it’s just right, maintain it. If there are errors, remove them before you apply. Here’s how you can get a free credit report.
- Do not job-hop too much before you apply, as there is a chance you’ll be viewed as a risky borrower with less stable income.
- Review your spending habits and see what changes you can make to increase your borrowing power. Cut down on discretionary spending.
- Try to save a large deposit, as it indicates good saving habits and the lender will see you as a lower-risk borrower.
- If you have any credit cards, consider paying them off in full or reducing their credit limits.
- If possible, consolidate your debt so you have fewer financial obligations and can reduce your monthly expenses
- Lenders might not be able to commit to the amount you were pre-approved if rates have risen since. Re-evaluate your borrowing capacity each month.
- Adjust your expectations and look for a property within your budget.
- Total revenue.
- Gross margin.
- Wages for revenue figures.
- Mortgage over freehold or leasehold. Charge over business assets.
- Registered fixed or floating charge over the practice.
- Directors’ guarantee.
- Retail
- Farming & agriculture
- Hospitality
- Education
- Trades
- Beauty industry
- Domestic services
- Sales
- Money that you have on standby;
- Equity you have in your home; or
- Government benefits you're receiving.
- Interest-only payments
- Waived fees and charges
- Repayment Holiday
- Adding repayments on top your loan balance
- Extensions of loan term to reduce monthly repayments
- We have 50+ lenders on our panel, which means more home loan options for you.
- We can provide you with free valuation reports, property reports and suburb reports once you’re pre-approved to buy a property in Melbourne.
- We can negotiate discounts and get competitive rates on your home loans.
- We build and maintain relationships with decision-makers at lenders and banks in Melbourne to help get your mortgage approved.
- Our mortgage brokers are with you throughout your home loan journey. We even have a dedicated settlement team that will look after you once your loan has settled.
- Our mortgage brokers and the brokerage have won numerous industry awards.
- You don’t have to wait and save for a large deposit.
- The two different plans cater to borrowers with different property ownership histories.
- First-home buyers can use the scheme with other grants and concessions
- You can potentially save over $30,000 in LMI fees
- ANZ: 3.85% May 2023
- CBA: 3.10% December 2022
- NAB: 3.60% March 2023
- Westpac: 3.85% May 2023
- Consider refinancing to a lender that can get you a competitive rate
- If your lender allows extra repayments without penalty, then you might be able to reduce your principal owing sooner and lower your repayments.
- Use an offset account to reduce the amount you pay in interest.
- Do not be tempted to overspend this Christmas. Take note of your budget and stick to it.
- They strongly disapprove of financing vacant land.
- Few specialist lenders offer construction loans.
- Few specialist lenders accept properties over 2 hectares in size.
- Your two most recent payslips.
- Your last two year’s financial tax returns.
- Close joint bank account and open up a separate one in your name.
- Consider cancelling your redraw facility or at least ask your lender that any withdrawals require joint signatures.
- Contact the Department of Human Services to find out what payments and services you may be entitled to as a result of the separation, particularly if you have children.
- Divorce doesn’t automatically cancel your will and the beneficiaries you’ve listed so update it with help from your lawyer.
- Update your superannuation details, specifically the list of beneficiaries.
- Cash Rate: The cash rate is the interest rate on unsecured overnight debt transactions that banks engage in with one another. It is the primary tool the Reserve Bank uses to implement its monetary policy. In other words, the RBA manipulates the cash rate to influence inflation, employment rates, and demand in the economy. The RBA sets the cash rate 11 times a year (each month, excluding January). On the first Tuesday of the month, the RBA determines whether the cash rate needs to be increased, decreased, or left unchanged. If the cash rate increases, banks can be expected to increase their rates for consumers. If the RBA reduces the cash rate, banks often lower their rates, too.
- Fiscal policy: This refers to spending and taxation decisions the government uses to shape the economy. An expansionary fiscal policy means that the government is spending more and this ultimately leads to higher interest rates.
- Economic climate: Interest rates change due to the supply and demand of funds. If banks have lots of money to lend, then interest rates will be low; whereas, less money in supply means a higher interest rate.
- Housing market conditions: Home loan interest rates are mainly tied to the forces of demand and supply, so trends in the housing market affect the interest rate. For example, if there is an increase in houses being put up for sale and the purchasing power of consumers decreases, then the interest rate decreases. Even if the RBA does not change the cash rate, banks may change their interest rates to attract customers or increase revenue. Since there are only a handful of sources for funds, if one bank raises or decreases its interest rates, then other banks often soon follow suit.
- Owner-occupier vs investment home loan: An owner-occupier home loan usually has a lower interest rate than an investment home loan.
- Make a list and check it twice. Make sure all your finances are in order and you’ve made a list of must-haves for your dream home. This is why you should engage with a team of experts at the start of your home buying journey.
- Make a generous offer once you’ve found a home you like. Your offer should show that you are serious about buying a home in December. Do not make a lowball offer that frustrates the seller. Make the seller aware of your terms and conditions, like a shorter settlement date or conducting a pest and building inspection before signing the contract.
- Be prepared for a counter-offer from the seller. Understand how willing the seller is to negotiate. Are they asking for a high price, or did they reject your offer completely? Be prepared to walk away if the seller does not entertain your terms.
- Keep your options open. Know what else is in the market and be prepared to make other offers. This helps you negotiate a stronger deal. The seller needs to understand that while his/her property checks the right boxes, you have other sellers lined up.
- Be quick. If all goes well, you might be closing before Santa climbs down the chimney on Christmas. Once you’re all ready, sign and seal the deal.
- If you have less than 80% owing on your current home loan, then it’s best to go with a guarantor home loan. You save thousands by not paying Lenders Mortgage Insurance.
- If your borrowing power is too low, we have lenders on our panel who can help you with your situation.
- If the stricter lending policy has hit you, talk to us. We can find a solution to suit your needs and showcase you as an attractive borrower to lenders.
- For SMSF borrowers, we know some non-bank lenders who have launched low-price SMSF loans that you can refinance.
- Presents you as a serious and genuine buyer to real estate agents and vendors (sellers).
- Gives you more confidence when making offers on private sales.
- Lets you know your borrowing limit while when making an offer or bidding at auction.
- Will both of you benefit from owning the property?
- In the event of a dispute, will both of you pay the mortgage?
- Is this an asset protection strategy, will one borrower invariably experience financial hardship?
- Will both people benefit from the business borrowing this money?
- If the business experiences hardship, is their family home at risk?
- Is the loan regulated or unregulated under the NCCP act?
- There is no benefit to the person offering security for the loan.
- The bank is not acting in its interests if it approves the loan.
- The person using the money doesn’t offer any security.
- These loans have a history of being trouble.
- A guarantor loan may help if you are helping your friend buy a home.
- In limited circumstances a son or daughter may borrow using their parent’s equity.
- Sole owner: You are the only owner of the property.
- Joint tenants: Most married couples choose this option. You each own equal shares and if one owner passes away then the other automatically owns their share of the property, irrespective of any instructions in their will.
- Tenants in common: Most friends or business partners choose this option. Ownership does not need to be in equal shares. There is no right of survivorship which means that if an owner passes away then their share of the property is transferred as per their will.
- House: You need to obtain building insurance and provide evidence.
- Unit / townhouse: The strata corporation insures the building so no evidence is required.
- Vacant land: Insurance is not required.
- Doubling up on LMI: Lenders Mortgage Insurance is charged by lenders when you borrow more than 80% of the property value, so if you owe more than 80%, you may end up paying LMI again.
- Adding enquiries to your credit file: Shopping around with many lenders can leave multiple enquiries on your credit file, making a negative impact on your credit score and, ultimately, your chances of approval. More than two enquiries in six months can significantly limit the number of lenders with which you are eligible to refinance.
- Services of the new lender: There can be various issues with a bank, including below-par customer service, a slow and painful loan or post-settlement process, or no branch access.
- Get a better interest rate: Lenders offer different types of promotional rates so it’s worthwhile to find out what’s on offer before refinancing your home loan.
- Access equity to invest: Once your loan amount is less than 80% of the property value, you can usually access the equity in your home in order to buy an investment property.
- Cash out to renovate: Some lenders allow you to drawdown your equity as cash for the purposes of renovating and making improvements to your property.
- Debt consolidation: You can take all of your debts and roll them into your mortgage, making it easier to manage your finances and reducing your debt repayments.
- Extend your loan term: You can refinance your loan to another bank and increase the loan period. If, for example, you have 25 years remaining with your current lender, you can refinance and get a 30-year loan period.
- Switch products: You can refinance your home loan and switch the loan type, such as switching from variable to fixed, principal and interest (P&I) to interest only, or add more features like an offset account, redraw facility or a credit card.
- 85% of the property value: When you’re borrowing up to 85% of the purchase price, you may be able to qualify for interest rate discounts and waived Lenders Mortgage Insurance (LMI).
- 90% of the property value: Although many banks have limited the number of 90% LVR (Loan to Value Ratio) loans they approve, you may still be able to borrow the amount with the help of a non-bank lender.
- 95% of the property value: Borrowing 95% LVR for an investment property is normally suitable for people in a strong financial situation.
- 97% of the property value: You may be able to qualify for 97% LVR if you apply with a specialist lender. A 97% investment loan allows you to capitalise the cost of LMI on your loan, potentially saving thousands of dollars in upfront costs.
- Are you on a fixed rate? Since you'll have to refinance your home loan, you can incur expensive break costs if you're on a fixed rate. There may also be legal fees and valuation fees if you require a lawyer.
- Will you pay Lenders Mortgage Insurance (LMI)? When you refinance your home loan, you may have to pay LMI if your loan amount exceeds 80% of the property value.
- Are you adding them to help them get credit or a mortgage? It's not recommended that you add a partner to your property title to use the property as the collateral for a loan. This is because you'll be held fully responsible in case your partner fails to repay the home loan. In extreme cases, you can lose your property.
- What if you get divorced later? We can't advise you on this, but it's something that may or may not affect your legal position so if this is a concern for you then please seek legal advice.
- The developer’s subdivision plans may not be approved by the council and other relevant authorities.
- Some unscrupulous property developers may cancel the contract (sunset clause) if they find that they can resell the land at a much higher price.
- You cannot leave the contract before the due date which can sometimes be as long as 48 months away.
- The council may place zoning restrictions on the block which may prevent certain construction work being undertaken.
- Contracts for unregistered land tend to be long and complicated so you should seek legal advice from a solicitor before you sign the contract.
- Are you on a fixed rate? Since you'll have to refinance your home loan, you can incur expensive break costs if you're on a fixed rate. There may also be legal fees and valuation fees if you require a lawyer.
- Will you pay Lenders Mortgage Insurance (LMI)? When you refinance your home loan, you may have to pay LMI if your loan amount exceeds 80% of the property value.
- Are you adding them to help them get credit or a mortgage? It's not recommended that you add a partner to your property title to use the property as the collateral for a loan. This is because you'll be held fully responsible in case your partner fails to repay the home loan. In extreme cases, you can lose your property.
- What if you get divorced later? We can't advise you on this, but it's something that may or may not affect your legal position so if this is a concern for you then please seek legal advice.
- Each borrower can have their own loan account that only they can access.
- Each loan account can be under different names.
- The loan is secured on the property that is jointly owned.
- Everyone is joint and severally liable for each other’s loans.
- Bank
- ANZAC
- Incorporated
- Building society
- Royal
- Credit history: You must have a perfect credit history with Equifax. No Australian lenders will make an exception to this policy if LMI approval is required.
- Repayment history: You must be paying all of your current debts, such as credit cards, personal loans and rent on time.
- Location restrictions: You must be buying in a major town, capital city or regional centre. One of our lenders is willing to consider anywhere in Australia but most lenders are strict about the location.
- Property type: You must be buying a standard type of property, such as a house, townhouse, unit or vacant land. As a general rule, unusual or unique properties are not acceptable.
- Stable employment: Your employment situation must be stable and ongoing.
- Income: Your income must be high enough that you can easily service the loan. You cannot borrow to your limit with a high Loan-to-Value Ratio (LVR) mortgage.
- Profession: Professionals such as accountants, lawyers, doctors, vets, nurses, government employees and teachers are highly sought after by lenders because they are well known to be a lower risk than people in other professions. You don’t need to be a professional to get approved but it helps.
- The location and size of the property.
- Soil condition.
- The number of water sources located on the property.
- The carrying capacity of the land (the maximum amount of animals that the land can sustain).
- Growing other vegetables?
- Raising livestock to sell for meat?
- Restoring the farmhouse and converting it into accommodation (bed and breakfast) for travellers that pass through town?
- Leasing some of your land for share farm purposes? In that way you can generate some rent.
- Stay up to date with industry changes, market conditions, competition and the changing environment around you, including weather patterns.
- Competent financial management and attention to record keeping is crucial when running an enterprise of this size.
- Have appropriate insurance in place.
- If you’re an exporter, consider the exchange rate and how that will affect your turnover.
- Are your farm loan repayments aligned to cash flow (seasonal factors)?
- Have appropriate equity levels to provide coverage for poor seasons.
- Poultry (for both eggs and meat).
- Cattle.
- Dairy.
- Fruit and nut.
- Vegetable.
- Sheep (for both lamb and wool).
- Barley.
- Grain.
- Wheat.
- Sugarcane.
- Boutique vineyards (viticulture).
- Honey farms (beekeeping).
- Cheese-making.
- Organic vegetables and fruit.
- Guinea fowl and duck farms.
- On-farm abattoirs and boutique meat processing plants.
- Farms that diversify their business earnings with on-farm accommodation.
- Gippsland.
- Subtropical (Kempsey, NSW to the Atherton Tablelands, Far North Queensland).
- Western Victoria.
- New South Wales.
- Murray Dairy.
- South Australia.
- Tasmania.
- Western Australia.
- Properties that have clear access to natural water sources for irrigation.
- Good, flat land. The aspect of the land is also important, with north facing slopes tending to minimise the risk of frost.
- Good quality soil. It’s recommended that you organise for a soil test from an appropriately licensed specialist to check for high levels of salinity and erosion. Soil pH should be maintained at above 5.5 in the topsoil and 4.8 in the subsurface.
- Land contamination, which can happen a lot with farms with abattoirs. Farms with meat-processing facilities have mass animal disposal areas which can have a massive impact on watercourses and groundwater if proper burial and decontamination processes aren’t undertaken. Similarly, sheep and cattle dips can result in DDT (dichlorodiphenyltrichloroethane) and arsenic contamination.
- Land free of noxious weeds and pests.
- Any intensive animal industries, sewerage treatment facilities, processing plants or other high-impact land uses that are located within a few kilometres of your farm. Find out about the direction and strength of the wind in your location and whether it has the potential to carry harmful chemicals onto your land.
- Horse stables and other types of housing for animals such as chicken coops and pens for cows, sheep, goats, alpacas and llamas. These aren’t essential since you can build these yourself but it’s something you should factor into the costs of buying the property.
- Fencing and gates that are in good condition.
- Access to water from natural sources such as ponds and lakes.
- Adequate pasture for grazing livestock and poultry.
- Sufficient shade for the spring and summer months. This can be as simple as having a few trees big enough to cover a few animals simultaneously.
- You can have five farm animals or less on the farm without a permit. Any more, and you will require you to apply for your state’s equivalent Livestock Property Identification Code (PIC).
- You can run a bed and breakfast/camping facility/caravan park from the property. No more than 10 people can be accommodated at any one time and one car space must be provided for every 2 persons.
- You can have a dwelling on a farm that’s at least 40 hectares in size without the need for special approval. Access to a dwelling must be provided via an all-weather road with dimensions adequate to accommodate emergency vehicles.
- Selling produce and farm goods on your property is permitted but most councils restrict you from selling these products within 100 metres of a dwelling in separate ownership. In addition, the area used for the displaying and selling of primary product usually can’t exceed 50 metres squared.
- Carrying out earthmoving or constructions projects that are within any of the following setbacks are generally not permitted: Road Zone Category 1, 100 metres from a waterway, wetlands or designated flood plain.
- Arching backs.
- Panting, slobbering or showing excessive salivation.
- Foaming at the mouth.
- Open mouthed breathing.
- Lack of coordination and trembling.
- How far is the farm from a vet?
- Will you be willing to get your hands dirty when livestock give birth, as well as the feeding and vaccinating that comes with newborns?
- How long will dam water last? Cows, sheep, llamas, pigs and other types of livestock all drink at different rates so determining how long water sources will last will be determined by the number and type of animals on your farm.
- Farms located on floodplains generally enjoy fertile lands for the purposes of grazing but the devil is in the detail. Specifically, you’ll have to ensure that there is proper drainage, dams and levees in place. Also, you can avoid damage to soil health and the growth of weeds, which is a staple of lands located on floodplains, with a solid grazing regime for your cattle.
- Check out the 20-year rainfall records for the farm’s location. This will give you a fairly reliable gauge as you consider whether the associated environmental conditions are right for what you’re trying to produce on the farm.
- Is there enough water to carry animals through the winter? Is it worth keeping all of your animals or better to lighten the load?
- You can actually give bore water to your animals as well as use it for irrigation purposes as long as it has been properly tested for mineral contamination and has a suitable pH level.
- If you have a creek or river flowing through your property, consider restricting stock access with fencing to help improve water quality, both for your farming neighbours and the overall health of the environment.
- Nationally threatened and migratory species.
- Nationally threatened ecological communities.
- Wetlands of international importance.
- World and national heritage properties.
- Requesting a Commodity Vendor Declaration (CVD) when purchasing feed for animals and plants.
- Ensuring feed doesn't contain a high ratio of weed seeds that could propagate on the property.
- Cleaning food and water troughs regularly to avoid contamination.
- Not feeding restricted animal material (RAM) to ruminants like cows. Engaging in this practice is illegal in Australia because it is linked to the spread of bovine spongiform encephalopathy (BSE or 'Mad Cow' disease).
- Ensure that animal manure and green waste is aged and thoroughly composted to destroy the weed seeds and diseases that often come with organic fertiliser.
- Always follow the instructions when using chemicals, paying particular attention to dilution and application rates, expiry dates and the proper disposal of chemical residue.You can find more information on this on the Australian Pesticides and Veterinary Medicines Authority.
- Having livestock graze selected areas.
- Regularly ploughing and harrowing vegetation.
- Slashing or mowing vegetation is also helpful as long as the clippings are removed and allowed to rot down before fire season.
- NSW Farmers.
- Victorian Farmers Federation.
- Queensland Farmers’ Federation.
- Tasmanian Farmers & Graziers Association.
- South Australian No-Till Farmers Association.
- NT Farmers.
- WA Farmers.
- Australian of Agriculture and Water Resources.
- NSW Department of Primary Industries.
- Department of Environment and Primary Industries.
- Department of Primary Industries and Fisheries.
- Department of Agriculture and Food.
- Department of Primary Industries, Parks, Water and Environment.
- Meat and Livestock Australia.
- National Farmers’ Federation.
- Contact a consumer credit agency by mail, phone, or by filling out an online form to file a dispute.
- Write a letter to the credit bureau mentioning why you are writing and why you are disputing a hard inquiry.
- Notify the creditor before sending the request that they remove the inquiry from your report if you plan to bring a dispute to court. This will provide you with proof that you have notified the credit issuer or lender of your request.
- Construction Project Manager
- Chiropractor
- Telecommunications Engineer
- Project Builder
- Osteopath
- Telecommunications Network Engineer
- Engineering Manager
- Occupational Therapist
- Barrister
- Production Manager (Mining)
- Physiotherapist
- Solicitor
- Child Care Centre Manager
- Podiatrist
- Clinical Psychologist
- Medical Administrator
- Audiologist
- Educational Psychologist
- Nursing Clinical Director
- Speech Pathologist
- Organisational Psychologist
- Primary Health Organisation Manager
- General Practitioner
- Psychotherapist
- Welfare Centre Manager
- Anaesthetist
- Psychologists
- Accountant (General)
- Specialist Physician (General Medicine)
- Social Worker
- Management Accountant
- Cardiologist
- Civil Engineering Draftsperson
- Taxation Accountant
- Clinical Haematologist
- Civil Engineering Technician
- External Auditor
- Medical Oncologist
- Electrical Engineering Draftsperson
- Internal Auditor
- Endocrinologist
- Electrical Engineering Technician
- Actuary
- Gastroenterologist
- Radio Communications Technician
- Land Economist
- Intensive Care Specialist
- Telecommunications Field Engineer
- Valuer
- Neurologist
- Telecommunications Network Planner
- Ship’s Engineer
- Paediatrician
- Telecommunications Technical Officer or Technologist
- Ship’s Master
- Renal Medicine Specialist
- Automotive Electrician
- Ship’s Officer
- Rheumatologist
- Motor Mechanic (General)
- Architect
- Thoracic Medicine Specialist
- Diesel Motor Mechanic
- Landscape Architect
- Specialist Physicians
- Motorcycle Mechanic
- Cartographer
- Psychiatrist
- Small Engine Mechanic
- Other Spatial Scientist
- Surgeon (General)
- Sheetmetal Trades Worker
- Surveyor
- Cardiothoracic Surgeon
- Metal Fabricator
- Chemical Engineer
- Neurosurgeon
- Pressure Welder
- Materials Engineer
- Orthopaedic Surgeon
- Welder (First Class)
- Civil Engineer
- Otorhinolaryngologist
- Fitter (General)
- Geotechnical Engineer
- Paediatric Surgeon
- Fitter and Turner
- Quantity Surveyor
- Plastic and Reconstructive Surgeon
- Fitter-Welder
- Structural Engineer
- Urologist
- Metal Machinist (First Class)
- Transport Engineer
- Vascular Surgeon
- Locksmith
- Electrical Engineer
- Dermatologist
- Panelbeater
- Electronics Engineer
- Emergency Medicine Specialist
- Bricklayer
- Industrial Engineer
- Obstetrician and Gynaecologist
- Stonemason
- Mechanical Engineer
- Ophthalmologist
- Carpenter and Joiner
- Production or Plant Engineer
- Pathologist
- Carpenter
- Aeronautical Engineer
- Diagnostic and Interventional Radiologist
- Joiner
- Agricultural Engineer
- Radiation Oncologist
- Painting trades workers
- Biomedical Engineer
- Medical Practitioners
- Glazier
- Engineering Technologist
- Midwife
- Fibrous Plasterer
- Environmental Engineer
- Nurse Practitioner
- Solid Plasterer
- Naval Architect
- Registered Nurse (Aged Care)
- Wall and Floor Tiler
- Agricultural Consultant
- Registered Nurse (Child and Family Health)
- Plumber (General)
- Agricultural Scientist
- Registered Nurse (Community Health)
- Airconditioning and Mechanical Services Plumber
- Forester
- Registered Nurse (Critical Care and Emergency)
- Drainer
- Medical Laboratory Scientist
- Registered Nurse (Developmental Disability)
- Gasfitter
- Veterinarian
- Registered Nurse (Disability and Rehabilitation)
- Roof plumber
- Physicist (Medical Physicist only)
- Registered Nurse (Medical)
- Electrician (General)
- Early Childhood (Pre-Primary School) Teacher
- Registered Nurse (Medical Practice)
- Electrician (Special Class)
- Secondary School Teacher
- Registered Nurse (Mental Health)
- Lift Mechanic
- Special Needs Teacher
- Registered Nurse (Perioperative)
- Airconditioning and Refrigeration Mechanic
- Teacher of the Hearing Impaired
- Registered Nurse (Surgical)
- Electrical Linesworker
- Teacher of the Sight Impaired
- Registered Nurse (Paediatrics)
- Technical Cable Jointer
- Special Education Teachers
- Registered Nurses
- Electronic Equipment Trades Worker
- Medical Diagnostic Radiographer
- ICT business Analyst
- Electronic Instrument Trades Worker (General)
- Medical Radiation Therapist
- Systems Analyst
- Electronic Instrument Trades Worker (Special Class)
- Nuclear Medicine Technologist
- Analyst Programmer
- Chef (excludes fast food or takeaway food service)
- Sonographer
- Developer Programmer
- Cabinetmaker
- Optometrist
- Software Engineer
- Boat Builder and Repairer
- Orthotist or Prosthetist
- Computer Network and Systems Engineer
- Shipwright
- Flexibility to distribute income: The income from the trust can be distributed "as the trustee sees fit", which is usually to the beneficiaries with the lowest taxable income.
- Asset protection: Protect assets in the event that one of the beneficiaries becomes bankrupt, insolvent or has a marriage breakdown.
- Minimise risk of legal action: They may form part of a strategy for people that are at a higher risk of legal action (e.g. doctors) as a way of minimising asset exposure should legal action ever be taken against the person.
- Less regulation: Trusts are not as heavily regulated by government bodies and legislation
- Customise the trust deed: This way it can be formulated to suit the needs of the beneficiaries and the principals of the trust.
- Easy to end the trust: Whilst companies have complex structures when winding up, trusts are simpler.
- Personal tax returns from the two most recent financial years
- Most recent ATO Notice of Assessment or an accountant’s letter that confirms tax returns are final and lodged with the ATO
- Business tax return from the two most recent financial years
- Business financial statements that an accountant prepares. These include the last two consecutive years of Profit and Loss statements, balance sheets and depreciation schedules from the most recent financial year.
- Proof the business has traded profitably in the two most recent financial years
- Active ABN for a minimum of 18 to 24 months.
- Businesses that earn over $75,000 each year must register for GST. After registration, you must lodge a regular Business Activity Statement (BAS) to report how much GST your business has collected and is claiming.
- Lenders might charge a higher fee than the rate of a full-doc loan.
- Even if Lenders Mortgage Insurance (LMI) is not applicable, you might be charged a risk fee for a low-doc application. This fee is usually charged for loans at over 60%-70% of the property value.
- Location of the security property.
- Diversification of the property portfolio.
- Condition and appeal of the security property.
- Current and future state of the local property market.
- Level of interest cover (ability to repay the debt).
- Loan to Value Ratio (LVR).
- Length of time until the lease(s) expire.
- Strength of the tenant(s).
- Asset position of the borrower.
- Management experience / track record.
- Talk to your HR department: Ask your employer if they can allow you to salary package your mortgage and find out if there are any implications for other expenses that you've packaged.
- Talk to a mortgage broker: Give us a call on 1300 889 743 or fill in our free online assessment form, and one of our mortgage brokers can switch your mortgage to a type that has the required features for salary packaging. We may even find you a better interest rate too!
- Change your repayments: You'll need your repayments to come directly from your pay, so we'll normally set up the repayment dates to match your salary payment dates to avoid arrears.
- Retail
- Tourism
- Airlines
- Hospitality
- Entertainment
- Swimming pools
- Sheds
- Landscaping and retaining walls
- Power poles
- Driveways
- Get a soil test to ensure the land is fertile enough to support crops.
- Sufficient space and fields for grazing a handful of cattle and horses.
- Close and easy access to ponds and lakes with uncontaminated water.
- A working dam or, alternatively, a bore water system.
- Zoning that allows for any renovations or improvements you’re intending to make. For commercial improvements, you may be restricted by rural residential zoning.
- Apart from soil contamination, consider the land’s proximity to oil, gas and other mining operations. These can have major environment affects.
- The natural environment can be a potential hazard so find out whether the property is bushfire prone or in a flood zone.
- Ensure that all structures including the house, stables, fences, gates, wells and everything else are in working order before committing to the purchase.
- Ensure that you’re across any licences you need to own and raise certain livestock and whether the property itself meets these legislative requirements.
- Capital growth could be lower, compared with capital cities, due to supply and demand
- If there are limited employment opportunities, then the population will probably decrease. With a decrease in population, there will be less demand for housing
- In mining areas, investment can be risky, as demand is volatile.
- Never assume what works for capital cities works for regional areas. Buyer demand will differ.
- Flipping properties too quickly could be costly in regional areas.
- For PAYG borrowers - the latest payslip no older than 14 days (this is to confirm your employment and that your income hasn't been impacted by Covid-19)
- For self-employed - March quarter BAS statements and business account statements (this is to confirm your business remains trading and no reduction in income)
- Due to coronavirus, lenders are taking longer than usual and there are frequent changes by the lender. Providing all the required documents on time will be effective.
- Since lenders are prioritising purchases, if you have a property in mind get a blank copy of the contract of sale from the real estate to show the property address.
- Apply through a mortgage broker that enjoys priority service with the banks.
- Contact your HR. Call them up and let them know that the bank will call to verify your employment. Lenders will also most likely ask for an employment letter – this is a new requirement of lenders arising due to COVID-19.
- Stay in contact with your mortgage broker throughout the process. Since lenders are constantly adjusting their lending policies and processes - flying by the seat of their pants as one of our brokers put it - so even minor issues can delay your application significantly. Being in regular touch with your mortgage broker about the status of your application is recommended so that they can be dealt with as they arise.
- Applying with a lender that has an Esign facility will speed up the process.
- We can sometimes use an old tax return combined with a 12 months business activity statement (BAS) to prove your income
- The lender will use your old tax return to work out the profit margin for your business
- You must show two years returns & financial statements
- They then use the turnover from your BAS and apply this profit margin to work out your current profit. With this method you can borrow up to 90% of the property value
- For homeowners, refinance your home loan to one with a better rate.
- Look beyond the interest rates, as there are other methods you can use to soften the blow of a rate rise, such as switching to a fixed-rate loan and making extra repayments.
- If you’re on a fixed-rate home loan already and it’s nearing the end of its term, break costs and other expenses can sometimes make it cheaper to accept the rate increase – but not always. If refinancing to a lower rate will allow you to recoup the expense of breaking from the fixed loan, then it can still be a good option. Use our refinance calculator to determine how much refinancing can save you. This will help you make an informed decision.
- For home buyers, research the market to see which lenders have the best interest rates. A mortgage broker can help you decide which home loan suits you best. Remember, interest rates are not the only consideration.
- Exotic dancers
- Sex workers
- Massage parlour employees
- Escorts
- Doctors, including general practitioners (GPs) and specialists: No requirement for experience.
- Dentists: Must have been practicing for more than 3 years.
- Physiotherapists: Must have been practicing for more than 3 years.
- Veterinarians: Must have been practicing for more than 3 years.
- Fixed rate specials: Did you know that there are often specials on long-term fixed rates? Banks tend to offer specials on fixed-rate loans when they get access to a cheap source of long-term funding. Often this funding is only available to one lender, temporarily making them the market leader.
- Lenders to choose from:Currently, only the big four banks are offering 10-year fixed interest rates.
- Hidden conditions:How much extra are you allowed to pay each year? Is there a rate lock available? Can you do interest-only repayments for 10-year fixed investment loans? Mortgage brokers know the hidden rules of each lender and can quickly identify the most suitable loan for your situation.
- If you have negative cashflow, paying off your investment loan sooner can convert the asset into one with positive cashflow.
- If you are considering retirement, paying off your investment loan will increase your monthly cashflow.
- If the interest rate on your investment loan is significantly higher than the one for the home loan, consider paying the rental property off as a priority.
- If you plan to convert your owner-occupied property into an investment property in the future and want to sell your current investment property soon, consider paying it off first.
- If you are just starting to pay off your home loan; when you make extra payments on your mortgage early in the term, compound interest has a greater impact.
- If you owe more than 80% of the property value; you will have to pay LMI if you refinance at a higher LVR.
- Compare and get quotes from multiple lenders.
- Consider using a mortgage broker. The average broker has dozens of lenders on their lending panel and they can compare the terms of each potential loan and provide recommendations to best suit your needs.
- Your tax returns must show a profit.
- You must be borrowing for business purposes (i.e. releasing equity as a business loan).
- You must provide an accountant prepared or verified profit forecast.
- You have real estate as security for your loan.
- Your business must be over 24 months old.
- Your next tax return must show a good income.
- You can borrow up to 90% of the property value.
- Your interim financials must show a high income.
- Your accountant or bookkeeper must sign off that the financials are true and correct.
- You must provide an additional document to support your interim financials.
- If you also provide BAS statements, you can borrow up to 70% of the property value.
- If you also provide old tax returns, you can borrow up to 80% of the property value.
- It can be difficult to track down an overseas borrower if they stop making their mortgage repayments.
- Banks tend to be averse to approving equity releases because it can be difficult to determine what you plan to do with equity.
- Even if you're a temporary resident of Australia, these visa programs can change on an unpredictable basis so banks are concerned that you could be forced to leave the country and sell your property.
- Verifying assets and income overseas is difficult because of differences in income and financial documents and foreign tax systems.
- Unstable overseas government or countries with strict policies about citizens sending money overseas, such as China.
- Unless you're married or de facto with an Australian citizen or permanent resident, banks are wary of approving borrowers with less than a year left on their visa.
- Lose the opportunity of buying your dream house
- Be priced out of properties you could previously afford
- Miss the advantage of the lower interest rates
- The First Home Loan Deposit Scheme is a nationwide scheme that helps first home buyers with a 5% deposit buy a home without paying for Lenders Mortgage Insurance.
- The $25,000 HomeBuilder grant helps those who want to build their first home.
- First home buyers who are either buying or building a new home might also be eligible for the First Home Owners Grant.
- Your loan size: Larger loans will get lower margins.
- Your security position: The lower your LVR and the better the security that you offer, the lower your margin.
- We know the lending policies of over 30 lenders
- We have specialist knowledge as our mortgage brokers come from the credit departments of major banks!
- Most of our services are free
- Help nationwide
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- Refixing your interest rate for another term
- Refinancing
- Switching to the lender's standard variable rate, which may not be as competitive
- Setting up a split-rate loan to benefit from both fixed and variable loan options.
- Use Your Savings: Consider tapping into your personal savings, the funds you've diligently set aside, or those accrued in your offset account. These resources can be a great starting point for financing your home renovation, putting you in control of your project.
- Leverage Existing Equity: If you've built up equity in your property, it's a valuable asset that can help you secure a loan tailored to your renovation needs.
- Construction Loan for Major Renovations: For extensive remodelling projects, a construction loan can provide the necessary financial backing.
- Cash-Out Refinance: Explore the possibility of refinancing your mortgage to access additional funds. It's a flexible option that allows you to cover your renovation expenses with ease.
- Energy-Efficiency Loans: Look for lenders offering energy-efficiency loans with reduced interest rates. These loans are aimed at promoting eco-friendly home improvements, helping you create a more sustainable and efficient living space.
- Fixed-interest loan: A fixed-interest loan locks in your interest rate for a period of time. This means that your interest repayments remain the same, whether your lender changes its rates or not.
- Variable-interest loan: As the name suggests, a variable-interest loan means the interest repayment can fluctuate with the rise or fall in your lender’s interest rate. A variable interest rate often comes with benefits like the ability to make extra repayments or add a lump sum to your loan.
- Split loan: You may like certain benefits of both a fixed-rate loan and a variable-rate loan. If so, you can opt for a split loan, wherein one portion of your loan is fixed while the other is variable. This protects you from unfavourable changes in the interest rate on at least a portion of the loan.
- Extra repayments: Paying a large lump sum amount on your loan means that the amount of interest charged will be against a lower loan balance. With variable loans, you can make these extra repayments any time, whereas fixed loans require a fee to do so with most lenders.
Offset account: If available with your lender, you can create an offset account within your home loan. You deposit funds into the account and each month, when the bank calculates interest, all or part of the balance in your offset account is deducted from your principal. For example, suppose, you have a balance on your loan of $400,000, your annual interest rate on the loan is 2.24%, and you have $40,000 in a 100% offset account. Your lender will subtract $40,000 from your loan balance when determining your repayment for the month. This means that the interest will be charged on only $360,000 not $400,000, saving you money:
) [1985] => stdClass Object ( [post_id] => 69684 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Lenders offer several discounts and concessions on home loan products for surgeons. These include:- Waiver of home loan application costs
- A range of exclusive discounted interest rate packages to choose from
- Refinance cashbacks up to $4,000
- Allowed to borrow up to $4.5 million for purchasing a home or investment property while the general public is capped at a lower amount (borrow more by further exception)
) [1986] => stdClass Object ( [post_id] => 86015 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>The 2024-25 NSW Budget paints a complex picture. While there are investments in housing, healthcare, and support for vulnerable communities, the broader economic challenges remain daunting. High mortgage costs, rising living expenses, and pressures on the government suggest that while steps are being taken in the right direction, the road to economic stability and affordability is still long and winding for NSW.
Call us at 1300 889 743 or complete our free online assessment form to see how we can help you.
) [1987] => stdClass Object ( [post_id] => 85669 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our expert mortgage brokers are here to simplify the process. With their personalised advice, you’ll gain clarity and confidence in your decision, whether you're renting, leasing, or ready to buy your dream home.
Call us today at 1300 889 743 or enquire online, free. Take the first step toward your perfect home now!
) [1988] => stdClass Object ( [post_id] => 58296 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>As Melbourne is showing signs of recovery, and Australia’s property market has recorded its first rise in the national home value index since April, consumer confidence is increasing and low-interest rates are likely to incentivise people to purchase homes.
Here are some tips to help you secure a property post-lockdown.
- Real estate agents and sellers are selling properties to buyers who are showing keen interest. Getting pre-approved for a mortgage is a good step to show that you're a serious buyer.
- With auctions increasing in Melbourne, know the value of the property before you make a bid. Be auction ready to ensure you're not overpaying for the property.
- Do not put in an offer without a contract. Take the help of our recommended conveyancers in Victoria.
Our mortgage brokers are here to help. Please call us on 1300 889 743 or fill in our free assessment form.
) [1989] => stdClass Object ( [post_id] => 81908 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you're inspired by Jane's story and ready to embark on your homeownership journey, our experienced mortgage brokers are here to guide you and support you every step of the way. Contact us today at 1300 889 743 or fill in our free online assessment form. Let's transform your dream into reality together!
) [1990] => stdClass Object ( [post_id] => 19726 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Based on the state of interest rates and your own finances over the medium to long term, switching your loan to a fixed rate may be a more viable option than staying variable.
So how do you switch to a fixed rate?
The first step is to speak to your mortgage broker to discuss whether now is the right time to fix.
You will also need to determine how long you want to fix for based on your situation.
With most lenders, you can simply give them a call and they can fix your interest rate over the phone.
You also have the option of “splitting” your mortgage into accounts, keeping one fixed and one variable to give your more flexibility over the term of the loan. Some lenders require that you fill in a form, if you only want to fix only a part of your loan.
Most lenders will have a small processing fee of $300 or so to fix or split your home loan.
Your broker can tell whether fixing your home loan is the right decision for your situation so call 1300 889 743 or enquire online today!
) [1991] => stdClass Object ( [post_id] => 55653 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Are you looking to buy your first home? Our first home buyers guide helps you navigate your home buying journey. Get started on your home ownership journey with Home Loan Experts. Our award-winning mortgage brokers are here to help. Call us on 1300 889 743 or fill in our free assessment form. ) [1992] => stdClass Object ( [post_id] => 9506 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Let's suppose your online business has recently taken off and you provide two years tax returns which show one year with a low income and one year with a much higher income.
Now if your income has changed by more than 20% between the two years, then banks will typically use 120% of the lower year’s income.
For example if you earned $50,000 in year one and $150,000 in year two, then most banks will only assess your income as being $60,000.
However, not every bank assesses your income using this methodology. If you can explain why there was the change in income and show that this income is likely to be received for the foreseeable future, then you can get your loan approved.
Call us on 1300 889 743 or enquire online and one of our mortgage brokers will let you know how the lenders will view your income!
) [1993] => stdClass Object ( [post_id] => 47931 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>An increasing number of everyday Australians are ditching the 9-5 work life to become a ride-sharing driver through providers like Uber, Lyft and Hitch-a-ride.
However, getting approved for commercial car finance can be difficult if you're only use the car on occasion to pick up passengers.
Generally speaking, you need to be using the car for business purposes 50% or more of the time.
You also need to have a registered ABN and to have been operating for at least 1-2 years.
In this case, hire purchase or chattel mortgage finance options may be acceptable solutions for you.
It's best to call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify.
) [1994] => stdClass Object ( [post_id] => 68916 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in our free assessment form to secure a home loan with a lender that best fits your needs.
) [1995] => stdClass Object ( [post_id] => 15171 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>No Lenders Mortgage Insurance LMI
In some cases accountants may qualify for waived LMI with their home loan. This could save you around $24,000 for a 90% loan on a $1,000,000 property!
The main qualifying criteria are:
- Borrow up to 90% of the property value.
- Purchases and refinances are both eligible.
- No minimum income required with one of our lenders. Otherwise, you must be earning a minimum of $120,000 - $150,000 per annum*
- Maximum loan amount against any one security is $2.7 million (i.e. the property value must not exceed $3 million). Typically, this is limited to $ 2 million per security.
- Higher exposure limit when purchasing multiple investment properties.
- You must be an accountant, finance manager, auditor or actuary.
- Evidence of your degree or industry membership (e.g. CPA Australia) may be required.
- You must meet all standard lending criteria.
*This includes your taxable income and rental income. It doesn't include your spouse's income.
To find out more please call us on 1300 889 743 or fill in our free assessment form.
Special interest rate discounts
Some accountants don't qualify for a waived LMI premium or don't need it as they are borrowing less than 80% of the property value.
In this case we can offer special negotiated interest rate discounts on your home loan. The discount will depend on:
- Your total loan size.
- The percentage of the property value that you are borrowing.
- Your industry membership and degree.
These professional discounts are all considered on a case by case basis. Please call us on 1300 889 743 or fill in our free assessment form for more information.
) [1996] => stdClass Object ( [post_id] => 49365 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>A property valuation is an important element of your loan application, and getting the best valuation on your property will secure you a better deal on your home loan.
Usually, we can order most types of property valuation at no cost to you!
Please give us a call on 1300 889 743 or complete our short free assessment form to get the best valuation.
) [1997] => stdClass Object ( [post_id] => 48603 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Higher auction clearance rates
Auction clearance rates which are a soft indicator of housing market trends are on the rise, which points to positive property sentiment.
Research group CoreLogic recorded preliminary clearance rate of 66.4 per cent nationally while Sydney recorded the strongest preliminary auction clearance rate of 74.7% up from 49.4% recorded this time last year.
It’s a buyer’s market
The numbers of houses listed on the market remain high providing buyers with a wide range of choices and a strong negotiation position. There’s little in the way of urgency due to limited competition.
It’s a challenging seller’s market which means it’s great for first home buyers.
Boom in the number of new houses entering the market
Despite the slowdown in the numbers of new homes beginning construction, the number of completed new homes entering the market is high.
This high volume of supply is considered a key factor behind the improvement in housing affordability.
Property sentiment
According to ME’s second quarter ‘Property Sentiment Report’, more than a third of Australians are planning on purchasing a house this year and more people expect prices to rise than fall over the next 12 months.
The report also indicated that after affordability, Australians were most worried about tightening credit policies.
Our specialist mortgage brokers know which lenders have flexible credit policies and are often updated in advance on upcoming policy changes so you don't have to worry about constantly changing credit policies.
Speak with one of our specialist mortgage brokers today by giving us a call on 1300 889 743 or by filling in our online assessment form so we can guide you through the entire home loan process.
) [1998] => stdClass Object ( [post_id] => 61153 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our expert mortgage brokers can help you with making a trust fund distribution add back for your mortgage.
If you are facing trouble getting 100% of your income serviced under any circumstances, we are here to help!
Call us on 1300 889 743 or complete this form to receive a free assessment.
) [1999] => stdClass Object ( [post_id] => 51021 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Applying with the right lender is key to geting approved with a low credit score. As such, we can usually find you a solution from our panel of 40 lenders.
For all your home loan needs, speak with one of our award-winning specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short assessment form.
) [2000] => stdClass Object ( [post_id] => 52348 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>It’s best to get pre-approved for a home loan before you start looking for a property if you don’t want to miss out on your ideal property.
Whether you’re buying your first home, or a seasoned investor looking to grow your investment portfolio, our award-winning brokers are here to help.
Call us on at 1300 889 743 or fill in our free assessment form to get pre-approved.
) [2001] => stdClass Object ( [post_id] => 33122 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [2002] => stdClass Object ( [post_id] => 7051 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Strictly speaking you do not have to get your loan preapproved before signing a contract to buy a home.
However in our opinion you would be taking a huge risk by committing to buy a property without knowing if you can qualify for a loan!
If your loan is preapproved then you can shop around for a house, comfortable in the knowledge that you will have little trouble obtaining finance.
Most good properties sell quickly, no matter what the market conditions are like.
If several buyers are all after the same property it is usually the one that has their loan approved that can sign the contract first and secure the property.
Any buyers that are not preapproved often have to wait for their lender to give them an approval before they can go ahead and buy. Depending on the lender this may take some time so may mean that you lose the perfect home!
In states such as WA or QLD there is normally a finance clause which allows you to make an offer on a property and sign a contract and still have the option to back out if you cannot get approval for your mortgage.
However in Victoria & NSW it is quite common for properties to sell at an auction, in which case having a preapproval in place is essential.
Getting a preapproval is very simple. Just talk to us on 1300 889 743 and we will guide you though the entire process.
) [2003] => stdClass Object ( [post_id] => 67537 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Here is a full list of eligible locations.What Types Of Properties Are Eligible?
You can buy an existing property or a new property if a certificate of occupancy is issued before the date of the contract of sale.
The following types of properties are eligible:- House
- Townhouse
- Unit
- Apartment
- Vacant land is not eligible
- Off-the-plan purchases are not eligible
The property must be vacant when purchased or, if there is a lease, it must expire within 12 months of acquisition and tenants must vacate the property.
The Victorian Homebuyer Fund can be used with other statewide benefits, like the first home owners grant and stamp duty exemptions or concessions. If you do not qualify for the fund, there are other low-deposit options available. Our mortgage brokers can help you choose the right option so you can buy your dream home sooner. Besides the Victorian Homebuyer fund, there are other nationwide grants and schemes that you can qualify for. Call us on 1300 889 743 or enquire online today.
) [2004] => stdClass Object ( [post_id] => 54579 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Some states are slowly lifting their restrictions, and allowing on-site auctions and open homes to be conducted.
The property market is still open, and you can make an offer for your home and even apply for a home loan during COVID-19.
Here are some tips on what you can do to buy a property during the pandemic:
- Take advantage of the low fixed rate interest.
- Make sure your job and income are stable as lenders are conducting employment checks prior to settlement.
- You can opt for virtual tours and online auctions where restrictions are still in place.
- If you’re expecting property prices to fall, then offer less.
- Consider off-market opportunities.
- Have a cooling-off period and COVID-19 clause in your contract of sale to manage the risks.
- If you’re expecting a property rebound, then consider getting pre-approved for a home loan.
- Borrow more than you need, and put the extra money in your offset account and access the money later on.
- Do your research: Speak to all the banks and lenders to make sure that you get the best rate lock feature for an extended period with no fees.
- Have all your documents ready: This way you can quickly submit the loan application after you have locked your rate in. This minimises the possibility that the rate lock period will lapse and you may end up paying a higher market interest rate.
- Communicate with your mortgage broker: To ensure your application is lodged with the bank quickly.
- Check the term of the rate lock-in: So that you can make sure your application is on its way to being approved before your rate lock lapses.
- Some lenders charge fees to rate lock.
- If you have locked in and the rates then drop, you may be charged the higher (original) rate by some lenders.
- The rate lock fee may not be refundable if your loan gets declined.
- New home loan applicants: If you are about to apply for a fixed rate home loan, you can choose the rate lock option as part of your loan package.
- Refinancing: If you are looking to re-finance your existing loan, you can apply for a rate lock-in.
- A rate lock is an agreement to lock in a specified rate.
- A rate quote is generally provided by the banks when your loan has been approved. This is just a quote of what the interest will be. It is not a commitment by the lender to offer you that rate.
- Always be wary of notifying your telecom or utility provider when you've changed your residential address.
- A slight effort in keeping tabs on all your existing commitments can result in maintaining a sound credit file.
- Always ensure that all the information on your credit file is correct and up to date.
- To do this, get your free annual credit report from any of the three major credit reporting agencies such as Equifax, Experian or Dun & Bradstreet.
- Full copies of the council approved plans/specifications.
- Detailed budget. Our brokers will provide a spreadsheet for you to input your data.
- Copies of all quotes/estimates.
- Copy of soil test and quantity surveyor comments (required by some lenders).
- Detailed schedule of the build (required by some lenders).
- Copy of insurance policies including builder's insurance of the works and public liability.
- Building contract or a formal written tender.
- Full copies of the council approved plans.
- Builder's schedule of finishes/specifications.
- Additional documents such as the builder's insurance will be needed prior to construction commencing.
- Who are your competitors? Are they direct or are you offering speciality work like diagnostic imaging or dermatology?
- Is renovation work required to make the practice look good? First impressions are important to clients.
- Consider the number of consulting rooms and whether there is the capacity to expand in the next 5 years. As your practice grows, it's often cheaper to renovate than to sell and buy another clinic somewhere else.
- What are the demographics of the area and will you generate enough business?
- Unlike renting a residential property, capital and renovation work comes at the cost of the lessee, not the landlord. Build and pest inspections can cost a few hundred dollars upfront but it can potentially save you thousands of dollars in the future.
- Overtime income or allowance (whichever is lower).
- Annualised YTD overtime or allowance.
- 120% of last year's total income minus your current year base income.
- Bonus income (whichever is lower).
- Annualised YTD bonus income.
- 120% previous year’s bonus income.
- The type of employment they are in,
- The industry they are in,
- The number of regular hours they work in a week, and
- The length of time they have been in their current job for.
- Save a deposit: You generally need a minimum of 5-10% of the property value as a deposit but there a no genuine savings options available such as a guarantor loan.
- Reduce your spending: Banks have been paying closer attention to your monthly living expenses than ever before so reducing your non-essential or discretionary living expenses can greatly improve your borrowing power.
- Make your payments on time: The introduction of positive credit reporting means your repayment history now has a major impact on your credit file and how banks assess your risk as a borrower.
- The low advertised inventory levels are slowly rising. An increase in supply means buyers have more choice and sellers will need to lower their pricing expectations.
- Even though fixed interest rates are rising, variable rates usually do not change unless there’s a change in the cash rate. The low variable rates will continue to support housing demand.
- Housing affordability will remain a challenge, so there could be more demand for higher-density housing options like units and townhouses.
- The Australian Prudential Regulation Authority might evoke tighter credit policies in the coming years, which would dampen demand for property.
- Defaults, judgments and court writs.
- Liquidation and bankruptcy.
- Part IX and Part X debt agreement.
- Mortgage in arrears.
- Breaching the terms of a business loan.
- Overdrawing a business bank account.
- Bad history with a lender.
- Registered fixed or floating charge or Bill of Sale over the hostel’s business assets.
- Directors’ guarantee.
- A deed of consent between lessor/lessee and the bank.
- Your last year’s financial statements (profit & loss and balance sheet).
- Your last years’ business tax returns.
- Your last years’ personal tax returns.
- Your last years’ notices of assessment.
- Old tax returns.
- Income from your last job.
- First, we try to find a lender from our panel of almost 40 lenders that can do it within standard policy.
- If no lender can do it, then we try to get one to make an exception to the policy.
- If no lender can make an exception to policy, then try to change the customer's situation (e.g. buy a cheaper home / ask employer to waive probation). E.g. if you cancel your credit cards then you can borrow x amount.
- Finally, if a change in situation is not possible, then we'll tell you what you need to do to qualify in the future and follow up with you.
- We can get you free property reports for Brisbane and equip you with information so you can work out where you want to buy.
- We can get free bank valuations with some of our lenders.
- We don’t charge fees for these services.
- We have 50+ lenders on our panel and will find a home loan that suits you.
- Extra repayments.
- Redraw facility.
- 100% offset account.
- Salary crediting.
- Line of Credit (LOC), and more.
- You don't meet their genuine savings requirement.
- You don't pass credit scoring criteria.
- You want to buy a property type that lenders might not like.
- Paying off your credit-card debt
- Paying off car loans and personal loans
- Renovating your home
- Consolidating debts
- As a deposit on an investment property
- Residential security.
- Registered fixed or floating charge or Bill of Sale over the business assets.
- Directors’ guarantee.
- A deed of consent between lessor/lessee and the bank.
- 2 years' personal and business tax returns or Notices of Assessment.
- 6 months' business bank statement.
- An accountant's letter to verify your income.
- You can choose to buy either a kiosk, in-line or drive-through model and can even have some say about a potential operating site.
- Kiosks are 25sqm with a 25sqm seating area.
- You receive about 4-5 weeks training and then quarterly training workshops, sales training by business development managers (BDMs) and barista upskilling.
- Operating hours are generally in-line with the shopping centre and/or surrounding businesses. That means you have a possibility of a decent work/life balance.
- You can leverage Donut King's buying power with suppliers and distributors and have more freed up cashflow than attempting to open your own independent doughnut shop.
- You also get support from the BDMs to improve your cost of goods sold (COGS) ratio as well as reduce your labour costs.
- We're an award-winning mortgage broker with access to nearly 40 lenders.
- You can book an appointment with one of our experts at our Sydney offices, although most of our clients prefer the convenience of completing their mortgage application online because of the systems we have in place to provide you with a smooth customer experience.
- If you want to do your own research, we've answered many common questions and created guides and tips about applying for a home loan and the home buying process that we've made freely available on our industry-leading website.
- Bad credit home loans.
- No deposit home loans.
- Non-resident mortgages, including Australian expat home loans.
- Unusual employment, including self employed home loans.
- Unique property home loans.
- Investment loans.
- Business loans and commercial property loans.
- Much more.
- Should I fix my mortgage or choose a variable rate?
- Should I get an interest only loan?
- How do I use an offset account?
- How does a mortgage broker get paid?
- What does a mortgage broker do?
- Why would I choose a broker over going to a bank directly?
- How do I access the equity in my property?
- Should I refinance my home loan?
Our mortgage brokers are here to help you get a home loan approved during the pandemic.
Call us at 1300 889 743 or fill in our free assessment form.
) [2005] => stdClass Object ( [post_id] => 58819 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our mortgage brokers are here to help with your home buying journey. Call us on 1300 889 743 or fill in our free assessment form.
) [2006] => stdClass Object ( [post_id] => 86091 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>As the RBA continues to navigate a challenging economic environment, its conservative approach underscores the importance of stability and careful management of inflation. For homeowners, prospective buyers and investors, staying informed and making strategic adjustments will be key to thriving in a market characterised by ongoing uncertainty and change.
By understanding the factors driving inflation and adopting proactive financial strategies, individuals can better position themselves to weather the economic shifts and take advantage of potential opportunities in the housing and investment markets.
Have the experts by your side. Our mortgage brokers can help you make sense of the ever-changing rate environment. Call us on 1300 889 743 or enquire online today.
) [2007] => stdClass Object ( [post_id] => 84665 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => you have trouble gathering all the documents needed for a traditional home loan? Don't worry – we can help! Our experienced, dedicated mortgage brokers understand that not everyone has the typical paperwork readily available. They'll work closely with you to find the best low-doc option for your unique situation. You can reach us at 1300 889 743 or complete our free online assessment form. ) [2008] => stdClass Object ( [post_id] => 74741 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => If you've decided to build or buy your home, our mortgage brokers can help you find the right mortgage to finance your dream. Call us on 1300 889 743 or complete our free online assessment form. ) [2009] => stdClass Object ( [post_id] => 23487 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => What features do you need for your commercial loan or business loan? Our mortgage brokers are experts in commercial lending. Call us on 1300 889 743 or fill in our free assessment form to find out how we can help.
) [2010] => stdClass Object ( [post_id] => 7982 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Tips for locking in your rate
Why does my fixed term matter?
The rate lock fee is the same for a one year fixed rate and a five year fixed rate.
Yet a 0.1% change in rate before settlement will cost you 0.1% with a one year fixed rate and 0.5% with a five year fixed rate.
That's why rate lock isn't as beneficial for short term fixed rates. While for a three or five year fixed rate it is highly recommended.
Disadvantages of a rate lock
Although a rate lock option is great for borrowers who want the added certainty of having a stable fixed interest rate, there are some downfalls as well:
Want to make sure you don’t pay any fees and have access to the lowest interest rates? Enquire online or contact us on 1300 889 743 and our mortgage brokers can help you get the best rate lock feature from one of the major banks.
Speak to us today!
Who can rate lock?
A rate lock-in is available to:
As rates are constantly changing, we recommend this feature for all new home loan applicants.
New home loan applicants are also eligible for some great discounts, cheap introductory rates and low interest rates, especially if taking out a 3 year fixed rate home loan.
Act quickly!
It’s always hard to pick the right time to lock in your rate. However, a rate lock is highly recommended if interest rates are increasing.
If rates are going up, then you must give us all of your supporting documents as soon as possible. This way we can lock in a competitive rate for you before they go through the roof.
Most lenders lock in your rate from the date that they receive your application from us. However if your application is incomplete then we can't lodge it with the lender.
How do you know if rates are increasing?
If a couple of banks have just increased their fixed interest rates then this is a good indication that the other banks are under pressure from higher funding costs and may make similar changes. In these cases you must act quickly to lodge your application.
Rate lock or rate quote?
These are two very different things!
As both are entirely different, it is best that you clarify exactly what it is you are entering into.
Get your rate lock in writing!
In most cases, you will be exposed to a rate rise unless you get the formal rate lock approval in writing.
A rate quote or a verbal agreement is not actually legally binding. Seek a ‘loan-commitment letter’ from your bank to ensure that you are actually locking in your low rate.
) [2011] => stdClass Object ( [post_id] => 75483 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Let Home Loan Experts brokers help you get a pre-approval, so you don’t miss out on the property you want. With Home Loan Experts, you’ll be prepared to find a bargain and take advantage of it. Please complete our free online assessment form or call us on 1300 889 743 and one of our mortgage brokers will make sure you get the finance you need to purchase a property. ) [2012] => stdClass Object ( [post_id] => 81676 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => As experienced mortgage brokers, we're here to support you every step of the way, whether you're thrilled by the energy of an auction or prefer the thoughtful approach of a private sale. Your decision is unique, and we're ready to assist you in making an informed choice. To speak with one of our mortgage brokers, call 1300 889 743 or complete our free online assessment form. ) [2013] => stdClass Object ( [post_id] => 49027 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>The couple moved into their property and were happy to be rid of the black marks on their credit file.
More importantly, they came out of this process much informed on how credit scores worked and how lenders view them.
Key takeaways:
Even if you can’t get a home loan now, we can help you prepare to buy in the near future.
Please give us a call on 1300 889 743 or fill in our free assessment form to start your home buying journey today.
) [2014] => stdClass Object ( [post_id] => 49212 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>With the worry of getting her home loan pre-approved gone, Joanna is busy looking for a perfect home for her and her daughter.
Her father is happier than ever that he could be a special part of his daughter's life.
Can a retired person be a guarantor?
Just because you're retired, it's not the end of the road for you to be a guarantor.
Being a guarantor for your child when they are buying their first home is a fulfilling experience.
Call us on 1300 889 743 or fill in our free assessment form and become a guarantor for your child’s first home.
) [2015] => stdClass Object ( [post_id] => 19858 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Owner Builder
Owner builder construction loans are available from a few select lenders if you have equity in your land, savings, or a guarantor that is willing to provide additional security for your mortgage. Here are the documents that the lender will require:Vacant land construction
When purchasing a block of land that is registered, the contract of sale is usually sufficient enough evidence to provide your broker with. If the land is unregistered then the contract will include a plan of the subdivision of the block as well as the estimated date the land will be registered. However, because the contract only shows a potential lot number, the lender can provide an approval subject to the title details being provided prior to settlement. Above all, it's important to provide as many details and documents of the building plans as possible. This includes:
) [2016] => stdClass Object ( [post_id] => 33341 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>As a general rule:
Get expert advice
You may be qualified to treat animals but it doesn't mean you have the skills to start and manage your own vet clinic.
Independent financial and legal advice is crucial.
Before you even speak to a commercial mortgage broker, sit down with your accountant and explain what you're intending to do.
They can properly assess your financial situation and they may even put you in touch with an accountant that has experience in establishing vet practices.
They can give you an idea of what kind of money you'll likely need to outlay to get yourself up and running. They can even advise you on an ownership structure that will best benefit you from a tax perspective.
As you start to search for possible locations or established practices to purchase, a business broker or commercial buyers agent can help.
They can even negotiate the terms of the terms of the heads of agreement with the current owners.
Ready to speak with a mortgage broker?
Call us on 1300 889 743 or complete our free assessment form and find out if you can borrow up to 100% of the property and business value with a veterinary practice loan.
) [2017] => stdClass Object ( [post_id] => 2301 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Many banks simply take 80% of last year's overtime or bonus income as assessable income. This can be a dealbreaker in most cases. However, some banks can consider:
For example, Hugh has a PAYG job that involves shift work on Saturday and Sunday. He earns overtime income regularly each month.
Hugh's 2015 group certificate shows a total income of $95,000 ($80,000 base + $15,000 overtime). He secured a raise in 2016 and his base income rose to $85,000 and annualised payslips now show an overtime income of $30,000.
In this case, the bank will calculate his overtime income in this way:
2016 annualised overtime income = $30,000
120% x $95,000 - $85,000 = $29,000Hugh's assessable income is now $85,000 base + $29,000 overtime income, adding to $114,000. If only 80% of his overtime income was considered, though it would mean less total assessable income.
Please note that the above example is simply one case of how some banks work out overtime income. Different banks may use different methods.
Why are lenders so conservative?
Lending institutions are generally conservative when assessing your overtime income because the payments are generally irregular.
As a result of this, the lenders are trying to avoid the risk of getting your home loan approved and then running into trouble when you are suddenly no longer required to work overtime or work late by your employer.
When this happens, there is a high chance that you can no longer make the required repayments on your mortgage.
What factors do banks take into account?
Generally for overtime income earners, the loan applications will be assessed on a case by case basis.
This is because the stability of overtime hours worked differs across all applicants depends on factors such as:
There are lenders who can consider your overtime income if you're no longer on probation and you have evidence of consistency in the overtime hours you work.
To discuss your situation with our mortgage brokers, please enquire online or call us on 1300 889 743 today. Our expert team will help you get approval.
) [2018] => stdClass Object ( [post_id] => 64776 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Yes, you can sell your home and transfer a portion of the proceeds to a term deposit temporarily. However, if the outstanding loan is more than 80% of the property value, the lender may not readily release the property. Selling a home before removing the guarantee could be a messy affair. That’s why you should get in touch with us before you put your home on the market. Give us a call at 1300 889 743 or complete our free online assessment form, and we can discuss what is right for you.
) [2019] => stdClass Object ( [post_id] => 50269 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>One of the common mistakes we see first home buyers and even property investors make is that they start looking for properties before they're pre-approved.
Get an indicative approval of the amount that you can borrow based on your income, debt and living expenses.
Once you're pre-approved, we'll also help you with suburb reports and individual property reports using our subscription to CoreLogic RP Data.
To get pre-approved, please fill in our short no-obligation enquiry form or give us a call on 1300 889 743.
) [2020] => stdClass Object ( [post_id] => 50153 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>The Williams couple were ecstatic and astonished when the loan got formally approved without much of a hassle.
Since they paid out all their existing debts and outstanding bills, they could start anew.
They were glad to have a fresh start.
If you're in a similar situation, speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our free short assessment form for expert advice.
) [2021] => stdClass Object ( [post_id] => 80974 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our experienced brokers understand the unique challenges of self-employed applicants and can help you get a home loan if you qualify. We'll help you verify your income, gather the necessary documentation, and find a loan that fits your needs.
Call us on 1300 889 743 or complete our free online assessment form. Let's explore your possibilities together.
) [2022] => stdClass Object ( [post_id] => 65196 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Volt is a great alternative for borrowers looking for a hassle-free experience. Low fees and no additional costs add to the list of benefits.
However, limited home loan options and availability might be possible obstacles.
If you need to find the ideal lender for your situation, we can help.
Talk to one of our specialist mortgage brokers at Home Loan Experts.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2023] => stdClass Object ( [post_id] => 24330 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Allow one of our expert commercial mortgage brokers properly assess your situation and tell you if you qualify for hotel finance.
Call us on 1300 889 743 or complete our free assessment form today.
[wbcr_snippet id="75562"] ) [2024] => stdClass Object ( [post_id] => 1513 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => p>Our mortgage brokers have extensive knowledge about Lenders Mortgage Insurers and their respective LMI premiums. Please call us on 1300 889 743 or enquire online to discuss your situation with one of our expert mortgage brokers. ) [2025] => stdClass Object ( [post_id] => 27546 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>When you start borrowing more than 90% of the property value, most lenders require you to have genuine savings equal to 5% of the purchase price.
Genuine savings can be in the form of shares or a term deposit but it most commonly refers to regular deposits in a bank account that you’ve accumulated over a period of at least 3 months.
Showing evidence of a growing bank balance is a reflection of your ability to make regular mortgage repayments.
What if your deposit came completely or partially from a personal loan, a First Home Owner Grant (FHOG) or a non-refundable gift from your parents?
Most lenders won't accept this as genuine savings but we may be able to help you qualify with a non genuine savings lender!
Our mortgage brokers understand how tough it is to save a deposit in today's rising property market, particularly if you're a first home buyer and you're currently renting.
Stop spinning your wheels and give us a call on 1300 889 743 or fill in our free assessment form today.
) [2026] => stdClass Object ( [post_id] => 50756 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>5% low deposit home loans have been available for quite some time now, albeit with mortgage insurance.
To find out if you qualify, speak with one of our award-winning specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form today.
) [2027] => stdClass Object ( [post_id] => 5022 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Knowing which lenders will accept BAS as income verification is important when applying for a mortgage.
Enquire online or call us on 1300 889 743 to find the lender right for your low doc loan! We’ll help you choose a competitive loan from our panel of specialist low doc lenders.
) [2028] => stdClass Object ( [post_id] => 48003 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>The implementation of these budget measures hinge on Scott Morrison beating Bill Shorten in the next Federal election, which is likely to be held in mid-May 2019.
Whether the Liberal government holds onto power is another question entirely.
To improve your chances of buying a property today:
Speak to a mortgage broker
An experienced broker can fully assess your situation and apply with a lender that takes a common sense approach to your situation.
Take advantage of the many opportunities in the Australian real estate market today - it's not all doom and gloom!
Call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify for a home loan in 2019.
) [2029] => stdClass Object ( [post_id] => 23927 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Even though you have a mortgage, the value of your property will continue to rise as you make your repayments, leaving you in a strong financial position in the long term.
It’s true!
Best of all, if you’re a first home buyer, you may be in a position to receive Government grants and for your parents to act as guarantor on your home loan.
Call us on 1300 889 743 or complete our free assessment form to discover how you can qualify for a home loan.
) [2030] => stdClass Object ( [post_id] => 68641 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => The factors that pushed property prices higher in 2021 have either diminished or ended.There are currently three lenders who provide DHOAS-approved loans and subsidy.
Our senior mortgage brokers will throughly assess your situation and ask you what you want to achieve with your home loan so they can find you an option that best suits your needs. Call us on 1300 889 743 today.
) [2032] => stdClass Object ( [post_id] => 17541 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you’re a first home buyer or investor, speak with one of our specialist mortgage brokers to find out the next step for you.
We’re here to guide you through the process and get you the most competitive loan for your situation. Enquire online or call us on 1300 889 743!
[wbcr_snippet id="72894"] ) [2033] => stdClass Object ( [post_id] => 1496 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our expert mortgage brokers have in-depth knowledge about Lenders Mortgage Insurers and the guidelines they use to assess loan applications. Please call us on 1300 889 743 or enquire online to discuss your situation with one of our brokers, today!
) [2034] => stdClass Object ( [post_id] => 14011 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our brokers are specialists in discounts on professional athlete home loans
To apply for a mortgage with us, contact us on 1300 889 743 or enquire online.
) [2035] => stdClass Object ( [post_id] => 6070 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>When you are buying or building a property then it is most common for people to apply for the grant via their lender. Lenders act as an approved agent on behalf of the state government and will process the payment of your grant with your loan funds.
If you are using us as your mortgage broker then we will assist you with your grant application free of charge. Simply call us on 1300 889 743 or enquire online and we will email you the required application form and list of required documents.
) [2036] => stdClass Object ( [post_id] => 69387 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Victoria claimed three slots in the top 10. The government's investment in removing level crossings is causing a change in Victoria, with improvements to Preston's safety and facilities greatly increasing the suburb's investment possibilities. Also, the Melbourne Metro upgrade will make South Melbourne, which is already booming, an even better place to invest in apartments.
Due to Western Australia’s investment in the Ellenbrook Rail Extension, which connects more than five suburbs, Ellenbrook, with its wines and planned estate, made the list.
The fact that the ACT, South Australia, Tasmania, and the Northern Territory didn’t place any suburbs in the top 10 doesn't mean they don't have good investment opportunities. But New South Wales, Victoria, Queensland, and Western Australia are currently implementing the most substantial transportation projects, making them the investment hotspots.
Are you thinking of investing in one of these top regions? At Home Loan Experts, our mortgage brokers can help you throughout each step of your home-buying journey. Call us on 1300 889 743 or enquire online today.
) [2037] => stdClass Object ( [post_id] => 51688 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>We specialise in SMSF loans as such we have more SMSF property investment example. Get in touch with us to learn more!
Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short online assessment form to find out if you qualify for an SMSF loan with competitive interest rates.
) [2038] => stdClass Object ( [post_id] => 1618 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Employees who work for large companies and use a car in their role are generally entitled to a car allowance. Some individuals may work as sales representatives and may be required to travel long distances by car to reach customers and clients. Others may use a car to run work-related errands or travel to work events.
If you're an employee who requires a car to carry out tasks, you may be eligible for a car allowance. The amount that you are entitled to receive differs according to your job and employer. However, there are standard tax deductions available that you can claim.
For more information on whether your car allowance can be included as income, enquire online or call 1300 889 743 to speak to our expert mortgage brokers today.
) [2039] => stdClass Object ( [post_id] => 35478 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Speak with a mortgage broker that specialises in franchise loans.
They can help you qualify for negotiated interest rates based on the strength of your application.
With nearly 40 lenders to choose from, we have strong relationships with the key decision-makers in business banking so you can borrow up to the maximum loan amount.
Call us on 1300 889 743 and talk to us about a Telstra shop franchise loan.
) [2040] => stdClass Object ( [post_id] => 67210 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Many first investors search for chase only the lowest interest rate when looking for an investment loan. But, a low interest rate doesn’t guarantee that you’re getting the cheapest loan available. Other factors are important too. Some banks limit extra repayments on your loan. You might face break fees if you want to get out of a fixed rate before the term ends with some loans, or you may be unable to redraw additional payments.
Solution
Consider all the details of the investment loan and not just the interest rate. Choosing the most suitable loan for you instead of the cheapest will be profitable in the long run. You can give us a call on 1300 889 743 or fill in our free assessment form, and we can provide you with the most suitable options to choose from.
) [2041] => stdClass Object ( [post_id] => 31512 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Bad credit business loans vs. waiting for credit to clear
Bad credit business loans are designed to be a short term solution. They can be great if you're planning on taking advantage of supplier discounts or you need working capital.
Waiting for your credit to clear can be a good option if you've missed payments or have defaults. This is even more so if you have only a few months to get your credit cleared. This way you can qualify for competitive business loan interest rates.
Ultimately, the decision depends on your goals for the business. If you're waiting, you can check out credit repair services such as Credit Repair Australia.
The above must not be taken as financial advice. It's recommended that you speak with a professional financial advisor before making a decision.
What makes up a bad credit history?
A bad credit history includes one or more of the following records on your credit file:
Please note that the following are also considered bad credit but don't show up on your credit file:
If the lender sees you as a strong, low risk business, they may accept multiple bad credit records.
Can a guarantor help me get approved?
Yes, a guarantor can help you get approved for a bad credit business loan. However, a guarantee usually isn't sufficient enough on its own to get you approved. A guarantor will lower the risk to the lender but you'll still need to show that you're a strong business.
Be sure to refinance your bad credit business loan to a standard business loan as soon as you can. This way you can avoid paying more in interest.
We have mortgage brokers who have many years of experience with bad credit business loans. We can help you qualify by building a strong case and finding the right lender.
You can speak with one of our credit specialists by calling us on 1300 889 743. You can also fill in our free online assessment form and one of our mortgage brokers will contact you instead.
) [2042] => stdClass Object ( [post_id] => 52859 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Mr. Tub Hipper was overjoyed at getting approved for home loan by Ajar. He finally bought his desired property.
The process of getting a home loan has many steps with many hurdles in between. Tub relates his experience of buying a home to a life’s journey, the correct solutions to problems brings much ease and serenity.
He prays that other borrowers in a similar situation would also find a broker who knows what they’re doing.
Are you in a similar situation? What are you waiting for! Call now at 1300 889 743 or fill out our free assessment form.
) [2043] => stdClass Object ( [post_id] => 35223 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>There are a lot of lenders to choose from, including non-banks like Bank Australia, to second-tier lenders and major banks.
Where do you start?
Every day, more and more Australians are turning to a mortgage broker to compare lenders and help them to choose the right home loan product for their situation.
Speak with one of our specialist brokers today by calling us on 1300 889 743 or complete our free assessment form and we'll get back to you to discuss your options.
) [2044] => stdClass Object ( [post_id] => 74752 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Not sure which lender is right for you? Home Loan Experts’ mortgage brokers can help you find out about many lenders and loan products in the market.
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [2045] => stdClass Object ( [post_id] => 30516 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Yes, you’ll need to secure the mortgage but it doesn’t have to be a mortgage/residential property.
The hostel commercial loan can also be secured by the following if you’re purchasing an existing strong business (not a start-up):
Why speak to us?
There are many benefits to speaking with an experienced mortgage broker rather than going to a bank directly.
Firstly, the bank will only offer you the products they have. A mortgage broker has a number of different major banks and lenders to choose from so you can get the right commercial loan for your needs.
Home Loan Experts has almost 40 lenders on our panel which means you may be in a position to borrow up to the maximum Loan to Value Ratio (LVR).
Because of the strong relationships we have, our mortgage brokers can often get significantly discounted interest rates on your behalf.
The commercial property loans section can provide more information about how the commercial loan process works and the other types of commercial properties that our lending panel can finance.
Please call us on 1300 889 743 or fill in our online enquiry form to find if you qualify for a backpacker accommodation commercial loan.
) [2046] => stdClass Object ( [post_id] => 34958 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>There is a range of alternative income verification that you can provide to qualify for an SMSF low loan including:
Simply call us on 1300 889 743 or complete our free assessment form and let us know what documents you have to work with.
) [2047] => stdClass Object ( [post_id] => 54379 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>A simplified process to try to solve a loan scenario where your borrowing power is the main issue goes something like this:
To find out how much you can borrow amidst COVID-19, speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form today.
) [2048] => stdClass Object ( [post_id] => 9904 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Over the past couple of years, the Australian Prudential Regulation Authority (APRA) has required lenders to tighten their lending to investors.
In the past, investors’ serviceability was often assessed at the actual repayments you would pay every fortnight or month.
For example, for a $100,000 interest loan at 4% a year, your actual repayments are $4,000 a year or $333 a month.
Now, for the same loan, banks will assess your borrowing power based on principle and interest at 7.25%, or higher in some cases.
So on that same loan amount, you would need to show a sufficient income to debt ratio to afford $8,186 a year or $682 a month.
Continue Growing Your Portfolio
Mortgaging multiple properties with a major bank or lender at a high serviceability rate and then mortgaging additional properties using a non-bank lender is a common strategy. This is because, each addition to your portfolio will decrease your serviceability for the next mortgage and so, you may no longer be eligible to get a loan from banks at some point. In that case, to continue growing your portfolio, you need to start taking home loans from non-bank lenders.
Some non-bank lenders aren’t regulated by APRA, which means they don’t need to adhere to serviceability rules. Despite the fact that you’ll be charged a slightly higher interest rate with a non-bank, it’s a strategy that may help you build your investment portfolio.
Want to know more?
Speak with one of our mortgage brokers by calling 1300 889 743 or by completing our free online assessment form.
) [2049] => stdClass Object ( [post_id] => 58764 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you are self-employed and looking to get a home loan, please contact us!
Our specialist mortgage brokers are experts in self-employed home loans and know how to get a deal through!
You can call us on 1300 889 743 or fill in our free assessment form.
) [2050] => stdClass Object ( [post_id] => 86130 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Like Daniel and Grace, many expats achieve their dream of Australian property ownership with the right guidance. Our success stories speak for themselves. Let us connect you with a dedicated mortgage broker who will understand your unique situation and help you achieve your financial goals.
Contact us today at 1300 889 743 (+61 2 9194 1700 if you are outside of Australia) or complete our free online enquiry form to schedule a personalised consultation.
) [2051] => stdClass Object ( [post_id] => 45435 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form today and we can find you the right home loan solution for your needs.
) [2052] => stdClass Object ( [post_id] => 91505 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>We're here to help you every step of the way. Our team of expert mortgage brokers will guide you in making the best decision for your financial goals and comfort level. We don't just explain rates, we take the time to understand your unique situation – your income stability, long-term plans, and overall financial picture. This way, we can match you with the perfect mortgage.
Call us on 1300 889 743 or complete our free online assessment form today!
) [2053] => stdClass Object ( [post_id] => 22881 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Do you want to own your own home but aren’t sure if you can afford to? Speak with one our mortgage brokers today by calling 1300 889 743 or filling in our free assessment form.
We can assess your situation and tell you how much you can borrow, how much you’ll need for a deposit and find a home loan that’s perfect for you.
Many of our brokers are property investors with healthy portfolios so we understand the market. Our Home Buyer Centre contains useful calculators, guides and tips that will help you prepare to buy a property.
) [2054] => stdClass Object ( [post_id] => 33214 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [2055] => stdClass Object ( [post_id] => 56037 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Our mortgage brokers can help you with your home loan application if you’re planning to retire soon. We know the lending policies of over 40 banks and lenders and know which ones are flexible with mature borrowers. Call us on 1300 889 743 or fill in our free assessment form. ) [2056] => stdClass Object ( [post_id] => 60598 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our mortgage brokers can help you get the best deal on your mortgage.
Talk to our award-winning mortgage brokers by calling us at 1300 889 743 or fill in our free assessment form.
) [2057] => stdClass Object ( [post_id] => 33219 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [2058] => stdClass Object ( [post_id] => 7020 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>You will typically be entitled to borrow up to 80% LVR. Although, if the property is readily saleable and your finances, income and employment history are strong, you may be entitled to borrow more.
Where the loan is under 80% LVR you will not be required to pay Lenders Mortgage Insurance (LMI).
If you have the support of a guarantor, such as your parents, the bank can use their property as security to guarantee the loan, so you can borrow up to 100% LVR.
To find out whether you will qualify for a loan above 80% of the purchase price, call us on 1300 889 743 or enquire online.
) [2059] => stdClass Object ( [post_id] => 32450 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Often business owners who have fallen on hard times just need a small business loan to cover their suppliers or unpaid client invoices.
Once they get that little finance kick, they can get back on track with the business.
After seeing your financials, your current bank may not be willing to offer any more business finance but we take a more common sense view when it comes to business owners.
We know lenders that may be able to help!
If you have enough equity in an existing property, you may be able to borrow up to 85% of the property value with a business equity loan.
Call us today on 1300 889 743 or complete our free assessment form if you recently didn't meet covenants and you're worried about defaulting on your business loan.
Speak to a business loan specialist
As a mortgage broker, we can give your business loan a health check.
Send us your position and we can let you know if we can you better terms and at a much better interest rate.
Business loan covenants are all negotiable if you can build a strong case with the right lender so call us on 1300 889 743 or complete our free assessment form today.
We're business loan experts!
) [2060] => stdClass Object ( [post_id] => 92182 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you’re dreaming of expanding your investment portfolio like Rameshwara, we’re here to support you every step of the way. At Home Loan Experts, we understand that every financial situation is unique, and we take pride in offering expert personalised solutions that fit your needs.
Call us on 1300 889 743 or fill out our free online assessment form—let’s make your financial goals a reality together.
) [2061] => stdClass Object ( [post_id] => 253 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => ) [2062] => stdClass Object ( [post_id] => 29628 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>No! You won't pay a higher interest for an Australian mortgage just because you're in Japan.
We can even help you find a lender that will agree to give you a substantial discount below standard bank rates.
There's more!
Australian expats living in Japan can access all of the same home loan features as a normal Australian resident such as redraw, the ability to make extra repayments, an offset account, and a line of credit.
Our mortgage brokers are here to help you choose a package that will allow to best manage your mortgage.
If you aren't sure which loan features you need, or need more information about other loan features not mentioned here, then please contact us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form.
) [2063] => stdClass Object ( [post_id] => 29781 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>An Australian expat in China is still an Australian citizen!
Not only can you get competitive interest rates, you have access to all of the same home loan features that are available to a typical Australian borrower, including:
Call us on 1300 889 743 (+61 2 9194 1700 if you're overseas) or fill in our free online assessment form and mortgage brokers who are specialists in mortgages for Australian expats in China can help you get a competitive interest rate and select the right features for your situation.
) [2064] => stdClass Object ( [post_id] => 92557 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>When life throws you curveballs, we’re here to help you keep your dreams on track. At Home Loan Experts, we’re more than just mortgage brokers; we’re your partners in turning challenges into opportunities.
Call us on 1300 889 743 or fill out our free online assessment form – because your dream home is closer than you think.
) [2065] => stdClass Object ( [post_id] => 92565 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Life can bring unexpected challenges, but you don’t have to face them alone. At Home Loan Experts, we’re here to listen, understand, and offer the support you need for financial stability and peace of mind.
Call us on 1300 889 743 or fill out our free online assessment form. Together, we can create a brighter future for you and your loved ones.
) [2066] => stdClass Object ( [post_id] => 30871 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Even if you have a good income and can prove it, some banks may not approve your mortgage. Banks don’t commonly deal with the United Arab Emirates Dirham (AED).
If you earn an income in a currency other than AED and it’s not on the Foreign Currency Mortgages page, you can still qualify. However, you may have to meet additional requirements such as being restricted to borrowing a maximum of 80% LVR.
Please keep in mind that Australian lending policy changes on a regular basis, particularly when it comes to which currencies will be accepted.
That’s why it’s best to speak with our expat mortgage brokers by calling us on 1300 889 743 (+61 2 9194 1700 if you’re overseas) or completing our free online assessment form.
Deposit and genuine savings requirement
Standard lending policy dictate that you need a deposit of at least 5% of the property price that you’ve saved yourself over a period of 3-6 months.
This is known as “genuine savings”, although there are other ways to meet this requirement. So, check out our genuine savings page for more information.
On top of the 5% genuine savings, you’ll need another 5% to cover additional costs such as stamp duty, legal fees and Lenders Mortgage Insurance (LMI).
Luckily, this component doesn’t need to be genuine savings and can come from a lump sum or investment income.
So, in reality, you need closer to a 10% deposit, which amounts to $70,000 for a $700,000 property, as a minimum.
What if I don’t have a deposit?
No-deposit home loan options are available if you don’t have a deposit. For example, you can use a guarantor and avoid a deposit altogether.
You can also access equity from a property that you already own in Australia.
If you have a deposit but don’t meet genuine savings requirements, there are no genuine savings solutions as well.
What If I'm Self-Employed?
If you’re self employed, you may not be able to provide your full financial statements.
Instead, you’ll need to provide tax returns and Business Activity Statements (BAS). Note that the tax returns must be for the last two years and BAS must be for the past 12 months.
One of our lenders accepts recent 6 months personal or business bank transactions
If you can’t provide these documents, there are low-doc mortgage solutions for Australians in Dubai.
) [2067] => stdClass Object ( [post_id] => 1498 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Did you know it's harder to qualify for a loan if mortgage insurance approval is required?
Mortgage insurers are very conservative when assessing a 95% home loan or 90% home loan, so it is unlikely that you can get approval for such loans from every lender.
Unlike most mortgage brokers, we work out which lenders may approve your loan before providing you with a quote.
This way, we don't waste your time by offering you a discounted home loan that won't be approved!
Mortgage insurers are more likely to decline your mortgage application if:
Are you ready to apply for a home loan?
Simply call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers will let you know which lenders may approve your loan.
) [2068] => stdClass Object ( [post_id] => 57987 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>We can help you with the First Home Owners Grant application if you provide us with the supporting documents while ensuring that your grant is approved and paid promptly.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will call you back to discuss your options. ) [2069] => stdClass Object ( [post_id] => 58026 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>In almost all cases, the bank or lender that you’re getting the home loan from will lodge the First Home Owners Grant (FHOG) application on your behalf. Lenders act as an approved agent on behalf of the state government and will process the payment of your grant with your loan funds.
If you require the grant for settlement or first drawdown/progress payment, however, you must lodge your application with an approved agent.
You can only lodge your application directly with the State Revenue Office (SRO) Victoria if an approved agent is not lodging the FHOG application form on your behalf. In such cases, we recommend that you apply through a solicitor/conveyancer.
When doing so, you or your solicitor must send the SRO the original application form, which needs to be downloaded, printed and completed in blue or black ink, together with copies of your supporting documents. Applications cannot be lodged with the SRO until after the completion of the eligible transaction.
For more details, please refer to our First Home Owners Grant (FHOG) guide.
Home Loan Experts has helped thousands of first home buyers apply for the FHOG and buy their first home. To simplify this complex process, talk to one of our specialist mortgage brokers by calling us on 1300 889 743 or enquire online.
) [2070] => stdClass Object ( [post_id] => 32414 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Using equity in this way can be a powerful strategy to grow your property portfolio, but it's essential to consider your overall financial situation and ability to service the loan. A mortgage broker can help you understand how much equity you can safely access and guide you through the process of using it as a deposit.
Ready to explore your options? Contact us at 1300 889 743 or fill in our free online assessment form, and together, we’ll find the best way to transform your equity into a valuable investment opportunity.
) [2071] => stdClass Object ( [post_id] => 84293 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Inspired by Ben and Kate's journey? If you're struggling with bad credit and think there’s no way out, think again. Reach out to Home Loan Experts today and let Sid and our specialised team help you navigate the complexities of refinancing and debt consolidation. We understand the challenges of bad credit and are here to find a solution that works for you. Call us at 1300 889 743 or fill out our free online assessment form today. Let's turn your financial tide together!
) [2072] => stdClass Object ( [post_id] => 3156 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Some lenders require evidence that you have saved 5% of the purchase price in either a savings account, shares or a term deposit.
However, other lenders can consider a gift from your parents or a lump sum deposit as evidence of savings!
This means that, in most cases, you can borrow 85% with no genuine savings.
Speak to our mortgage brokers on 1300 889 743 or enquire online and a member of our expert team will help you get the best package!
Compare The LMI, Not Just The Rate
Did you know that each lender has different LMI premium rates?
Often two loans with the same rate will actually have very different LMI premiums and, in some cases, the difference can be in the thousands of dollars.
We recommend that you use our LMI premium calculator to compare lenders and find out how much you are likely to pay in LMI.
Did you know that very low risk borrowers may be eligible for significantly discounted LMI?
The criteria for this type of loan is very strict so find out more on our discounted LMI page.
Many people who apply for an 85% loan can qualify for a special LMI discount or pay no LMI at all!
These discounts are only available from a select few lenders that are in a good funding positions.
) [2073] => stdClass Object ( [post_id] => 92929 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Your success is our priority. We care deeply about helping you manage changes in surcharges. Our expert team is committed to finding the right home loan tailored to your unique needs and investment strategy. Reach out today at 1300 889 743 or fill in our free online assessment form and discover how our personalised service can make a difference in your investment journey.
) [2074] => stdClass Object ( [post_id] => 92960 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Police officers in Australia can afford to buy a home, especially with benefits like overtime pay and waived LMI. However, the level of affordability will depend largely on where they are buying and their personal financial situation. While cities like Sydney or Melbourne may pose a greater challenge, due to high property prices, regional or suburban areas offer more affordable alternatives.
Ready to make your homeownership dream a reality? Call us on 1300 889 743 or fill out our free online assessment form.
) [2075] => stdClass Object ( [post_id] => 1345 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Please call us on 1300 889 743 or enquire online to talk to a specialist mortgage broker who knows which lenders offer construction loans with fixed rates and to discuss which fixed term is more appropriate for you.
) [2076] => stdClass Object ( [post_id] => 77635 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Are you looking to refinance? As of the time of writing, we have lenders in our panel offering cashback of up to $5,000. Our dedicated team will help you assess how much you can borrow and scour for the best deal for you. Call us on 1300 889 743 or complete our free online assessment form, and we'll get back to you. ) [2077] => stdClass Object ( [post_id] => 68505 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Our mortgage brokers can help find a lender offering partial offset accounts with fixed loans that suits your needs. Please call us on 1300 889 743 or complete our free assessment form to start your home loan journey. ) [2078] => stdClass Object ( [post_id] => 31045 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our mortgage brokers are commercial loan experts and can help you find the right lender that will take a common sense approach to your Subway franchise loan application.
Call us on 1300 889 743 or complete our free assessment form today so we can assess your situation and come back to you with an indicative funding approval.
) [2079] => stdClass Object ( [post_id] => 26591 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Like a standard home loan to buy a residential property, commercial loan applications are judged on the strength of the borrower. That means the bank will be looking at things like your asset position and experience in running a business of a similar size.
If you want to run your business from the premises, the trick to getting approved for a warehouse loan is to present a strong case and mitigate any weaknesses in your commercial loan application. This is where a mortgage broker with experience in commercial loans comes in.
The commercial lending departments of banks will usually undertake what is known as a SWOT analysis, an acronym for Strengths, Weaknesses, Opportunities, and Threats.
Although it works differently from lender to lender, a SWOT analysis for a warehouse may look something like this:
Strengths: For example, you’re experienced in the business that you’re running, and the warehouse is close to good infrastructure and/or within a few kilometres of a CBD.
Weaknesses: This refers to the weak aspects of you as a borrower, such as having little to no experience in the industry or in running a warehouse.
Opportunities: The construction of new motorways can have a positive impact on distribution and the viability of your business, so this is something to consider when looking at warehouse listings.
Threats: This refers to external factors that are largely out of your control. This is not as much of an issue with warehouses as it is with other types of commercial properties.
We know how to present a good case to the banks!
Call 1300 889 743 or complete our free assessment form, and one of our commercial mortgage brokers can help you.
) [2080] => stdClass Object ( [post_id] => 66072 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => The equity you’ve built can be used for several purposes, including:The function centre commercial loan can be secured by the following:
How can a broker get you a great deal?
A mortgage broker that specialises in function centres and reception venues doesn’t work for the bank!
What this means is that they will assess your situation and commercial investment plans and build a case to present to a number of different lenders, including the major banks.
The brokers shop you around to the decision makers in the credit departments.
Because of the relationships that Home Loan Experts has with the commercial arms of almost 40 Australian lenders, we’re in a unique position.
We know how low they will go on their commercial interest rates and what kind of loan they’re willing to offer to get your business.
These loan features may include loan terms of up to 25 years with select lenders and 5 years interest only. You can read more about these features on the commercial loan features page.
Discover if we can get you approved for a function centre commercial loan by calling 1300 889 743 or by completing our online enquiry form.
We’ll get back to you within 24 hours to discuss your situation.
) [2082] => stdClass Object ( [post_id] => 36129 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you earn business income from China it can be tough to qualify for a mortgage but not impossible.
WIth one of our specialist lenders, you may still qualify if you're able to provide any two of the following:
If your statements are in Cantonese or Mandarin, don't worry. Lenders have credit officers that can translate your statements into English.
It's best to speak with us to find out if you qualify as a self-employed applicant.
Please complete our free assessment form to speak with one of our experienced brokers or give us a call on 1300 889 743 from outside of Australia.
) [2083] => stdClass Object ( [post_id] => 30323 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you're planning on taking out a home loan to buy your dream home, we can help you.
With access to more than 50 lenders and 300 loan products, you'll be getting a competitive loan package with a lender that suits your situation and loan needs.
Our mortgage brokers know and understand bank lending policies very well. Call us on 1300 889 743 or fill in our free online assessment form and we can help guide you through the home loan process to settlement and beyond.
[wbcr_snippet id="73073"] ) [2084] => stdClass Object ( [post_id] => 78414 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Ready to take advantage of the current housing market and become a homeowner? Don't let the opportunity slip away. Contact us now at 1300 889 743 or fill out our free online assessment form to get pre-approved and start your journey towards owning your dream home. ) [2085] => stdClass Object ( [post_id] => 50964 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Annualising the growth rate of the past three months shows the national index growing by double-digit annually (+15.3%). Moreover, Sydney and Melbourne dwelling values are tracking around the mid-twenty per cent range for annualised capital gains.
This rapid recovery and the introduction of the upcoming First Home Loan Deposit Scheme in January 2020 will likely contract housing affordability further in 2020.
We're also expecting a rush of first home buyers seeking to take advantage of the government scheme come January.
Don't miss out on your ideal property!
Getting pre-assessed for a home loan by our mortgage brokers means you'll be ahead of the curve.
One of the most common reasons we see prospective buyers miss out on their ideal property is because they start looking for properties without a pre-approval.
Whether you're looking to buy now or after the holidays, avoid the rush and get your home loan pre-approved today.
Talk with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our short assessment form to get started.
) [2086] => stdClass Object ( [post_id] => 31060 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Donut King is actually a brand of Retail Food Group, Australia's largest multi brand retail food franchise operator, so with that:
We're Donut King franchise loan specialists!
Our mortgage brokers are commercial loan experts and can help you find the right lender that will take a common sense approach to your Donut King franchise loan application.
Call us on 1300 889 743 or complete our free assessment form today so we can assess your situation and come back to you with an indicative funding approval.
) [2087] => stdClass Object ( [post_id] => 45016 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
What are the benefits of an online mortgage chat?
Our mortgage brokers are home loan specialists with years of experience in the credit departments of major banks and second-tier lenders.
Because of this, we're able to come back to you with accurate home loan answers.
In addition to this:
What do our brokers specialise in?
We can handle all home loan enquiries, particularly for borrowers in unique situations who would normally be declined by the bank.
We're experts in:
Frequently asked questions (FAQs)
Below, we've sought to answer some of the most common home loan questions and answers (Q&As) that we receive on a daily basis:
Want to get started with your home loan application?
Discover more about the benefits of choosing us and chat with a mortgage broker online.
If you want to find out if you qualify for a home loan, please call us on 1300 889 743 today or fill in our online enquiry form and one of our team will get back to you within 24 hours.
) [2088] => stdClass Object ( [post_id] => 34253 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>We're business finance experts with particular expertise in financing the purchase of client portfolios whether it's in the industries of insurance, financial planning or accounting.
We have a strong relationships with a number of major banks and lenders and our mortgage brokers are credit experts so we know how to build a strong case so you have better chance of getting approved for an insurance brokerage business loan the first time around.
We can also negotiate competitive business loan interest rates on your behalf and help you to borrow up to your maximum LVR by highlighting the strengths of your situation.
Call us on 1300 889 743 or complete our free assessment form to discuss your plans to purchase an insurance brokerage with a commercial mortgage broker.
We can even help you to qualify business finance solutions that can help you to manage and grow your business well into the future.
) [2089] => stdClass Object ( [post_id] => 78278 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Don't let bad credit or financial arrears hold you back from refinancing. Our team of experts is here to help you get approved for the loan you need. We specialise in finding solutions for people in even the toughest financial situations.
With over 50 lenders on our panel, we have a wide range of options to choose from to meet your unique needs.
Call us on 1300 889 743 or fill in our free online assessment form.
) [2090] => stdClass Object ( [post_id] => 23064 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our mortgage brokers know which lenders mortgage insurers are the cheapest.
Some lenders offer specials in an attempt to gain additional market share and, in many cases, these LMI specials are not advertised to the public.
Please complete our free assessment form or call us on 1300 889 743 to discuss your situation with one of our specialist mortgage brokers.
- Mortgage registration fee of $156.00 from 1 July 2022. It is a flat fee charged for registering the mortgage on the property title.
- Land transfer fee of $156.00
- Sell the farmland or your agribusiness equipment.
- Make large lump sum repayments.
- Switch lenders or shop for better agribusiness loans anytime soon.
- One-off franchise fee: $90,000
- Royalty expense: 6% of overall sales.
- Marketing fund contribution: 2.25% of overall sales.
- Territory renewal fees: Apply after the first ten years.
- Transfer fee to buy an existing store: The outgoing franchisee will be liable for this.
- Deposit bond for the site: This will vary depending on whether it's in a shopping centre or in a stip shop location.
- They're designed to be a turnkey franchise with fit out and stock included.
- The Athlete's Foot generally has primate locations in shopping centres as well as town centres.
- They have bulk buying power which you can get access to discounts, priority delivery and pre-release products from select suppliers.
- They have consultants that can help buy stock that fits location demographics of your location.
- Sales and service training that includes a 10-day orientation.
- Strong negotiation powers for the tender on the fit out.
- Is the property located on a main road with plenty of foot traffic? Clinics located near shopping centres or near pharmacies are prime locations because of their convenience.
- Is the property standalone or attached to a building? Medical practices attached to a shopping centre can generate a lot of traffic.
- Is there parking available on the premises or located nearby?
- Is there competition in the area?
- Is the property purpose-built or converted residential? This can affect the terms of the commercial loan and your borrowing power.
- Is renovation work required to make the practice look good? First impressions are important to patients and this should be conveyed to potential tenants (if you’re buying an untenanted freehold).
- How many consulting rooms are there?
- Is there opportunity to renovate should the lessee require it? Perhaps a larger or just refurbished reception area.
- What’s the zoning of the property?
- How big is the local community? How much business is the practice likely to receive? This is essential general practice but less of a concern if the practice premise will be used for a specialist clinic i.e. patients will travel for expertise.
- Is the property near a base hospital? Great for building referrals.
- Is the property structurally sound?
- Are there covenants, easements or other restrictions that apply?
- Is there strong management in place?
- Are staff there loyal? This can have a massive impact on the practice staying afloat and ensuring stable rental income for the long term.
- How many days is the practice open for? 5.5 days (half day on Saturday) compared to 5 days a week can have a significant impact on the profitability of the business.
- Existing patient base, repeat business and reputation.
- Long-term and efficient support and administration staff that have good relationships with long-time patients.
- Clean, modern premises with adequate parking and in a good location.
- Ambient environment.
- Established relationships with allied health professionals.
- Plant and equipment.
- Specialist equipment.
- What (if anything) about this practice would appeal to a patient? What (if anything) about this practice would appeal to different types of patients?
- What hours is this practice open? How does it deal with after hours calls?
- What type of services does this practice offer its patients? Is there a special niche this practice provides creating a unique demand for its services?
- How many doctors are involved?
- Do the assistants and associates engaged by this practice have their own patient following and loyalties?
- Do the practice's premises have easy access and good parking facilities?
- Does it rely on repeat business and build up strong personal relationships or is it a high turnover practice? Are the patients loyal?
- Is the business located in a rural area? There is the potential for greater turnover in rural areas, where healthcare professionals are in high demand, compared to metropolitan areas, where there is much more competition.
- What is the average time spent with a patient?
- What proportion (if any) of patients are bulk billed?
- Capital cities and major regional locations.
- Unspecialised properties such as offices, factories, warehouses and retail properties.
- Commercial, industrial or mixed-use zoning.
- Investment properties with a current lease in place are preferred.
- Readily saleable and in a good condition.
- Remote locations.
- Specialised properties such as hotels, petrol stations and day care centres.
- Residentially zoned properties
- Properties that are occupied by your business (case by case).
- Properties in a poor condition.
- Check your employer's policy
- Declare all your second job income
- Look after your health
- Ensure you get enough sleep and leisure time
- Money that you have on standby;
- Equity you have in your home; or
- Government benefits you're receiving.
- 5% genuine savings allows you to get standard LMI rates which is about 25-50% cheaper than a no genuine savings LMI premium.
- No genuine savings and a borrowed deposit, such as a personal loan or a loan from your parents, may mean your premium is even higher than a no genuine savings premium.
- You must be an Australian citizen and at least 18 years old
- Having a strong credit history, without any defaults or arrears, is essential.
- You must not have owned a home before
- You must buy outside of a capital city area
- You must have been living in the region where the property is located, or the adjacent area, for 12 months
- Your annual income must not exceed $125,000 for individuals or $200,000 for couples
- The price of the property must not exceed the caps
- You must buy the property as a principal place of residence and not an investment.
- Temporary Business (Long Stay) – Standard Business Sponsorship (Subclass 457) and 482 Temporary Skill Shortage (TSS) visa loans available to 90% of the property value as a special exception to normal bank criteria. Conditions apply.
- Skilled Employer Sponsored Regional (Provisional) Visa (Subclass 494)
- Skilled Work Regional (Provisional) Visa - (Subclass 491)
- Temporary Work (Long Stay Activity) visa (Subclass 401).
- Temporary Work (International Relations) visa (Subclass 403).
- Investor Retirement visa (Subclass 405).
- Working Holiday Visa (Subclass 417).
- Business Owner (Provisional) Visa (Subclass 160).
- State or Territory Sponsored Business Owner (Provisional) Visa (Subclass 163).
- Senior Executive (Provisional) Visa (Subclass 161).
- State or Territory Sponsored Senior Executive (Provisional) Visa (Subclass 164).
- Investor (Provisional) Visa (Subclass 162).
- State or Territory Sponsored Investor (Provisional) Visa (Subclass 165).
- Skilled Regional (Provisional) visa (Subclass 489).
- Business Visitors Visa (Subclass 456).
- Visiting Academics Visa (Subclass 419).
- Sport Visa (Subclass 421).
- Entertainment Visa (Subclass 420).
- Skilled Exchange Visa (Subclass 411).
- Film, Media, Actors and Support Staff, Photographers and Journalists Visa (Subclass 423).
- Emergency Visas (Subclasses 302 & 303).
- New Zealand Citizen's Family Members Visa (Subclass 461).
- Religious Worker Visa (Subclass 428).
- Skilled – Regional Sponsored visa (Subclass 475).
- Special Program Visa (Subclass 416).
- Prospective Marriage visa (Subclass 300).
- Medical Treatment Visa.
- Medical Practitioner Visa (Subclass 422, loans available to 90% of the property value).
- Sponsored Family Visitors Visa (Subclass 679).
- Special Category Visa (Subclass 444).
- Contributory Temporary Parent Visa (Subclass 173).
- Contributory Temporary Aged Parent Visa (Subclass 884).
- Student Visa (Subclass 572, 573, 574, 575 & 576).
- Temporary Graduate Visa (Subclass 485).
- Student Guardian Visa (Subclass 580).
- Business Innovation and Investment (Provisional) visa (Subclass 188).
- Holiday and Visiting Visas (Subclass 976).
- Short Validity Business ETA Visas (Subclass 977).
- Long Validity Business ETA Visas (Subclass 956).
- Bridging Visas (A, B, C, D & E).
- Redraw facility.
- Extra repayments.
- Professional package discounts.
- Interest only.
- Salary crediting.
- Loan portability.
- Repayment holiday.
- Loan splitting.
- 100% offset account.
- Line of Credit (LOC).
- Borrow up to 90% of the property value.
- Purchases and refinances are both eligible.
- No minimum income required with one of our lenders. Otherwise, you must be earning a minimum of $120,000 - $150,000 per annum*
- Maximum loan amount against any one security is $2.7 million (i.e. the property value must not exceed $3 million). Typically, this is limited to $ 2 million per security.
- Higher exposure limit when purchasing multiple investment properties.
- You must be an accountant, finance manager, auditor or actuary.
- Evidence of your degree or industry membership (e.g. CPA Australia) may be required.
- You must meet all standard lending criteria.
- Your total loan size.
- The percentage of the property value that you are borrowing.
- Your industry membership and degree.
- Fixed-interest loan: A fixed-interest loan locks in your interest rate for a period of time. This means that your interest repayments remain the same, whether your lender changes its rates or not.
- Variable-interest loan: As the name suggests, a variable-interest loan means the interest repayment can fluctuate with the rise or fall in your lender’s interest rate. A variable interest rate often comes with benefits like the ability to make extra repayments or add a lump sum to your loan.
- Split loan: You may like certain benefits of both a fixed-rate loan and a variable-rate loan. If so, you can opt for a split loan, wherein one portion of your loan is fixed while the other is variable. This protects you from unfavourable changes in the interest rate on at least a portion of the loan.
- Extra repayments: Paying a large lump sum amount on your loan means that the amount of interest charged will be against a lower loan balance. With variable loans, you can make these extra repayments any time, whereas fixed loans require a fee to do so with most lenders.
Offset account: If available with your lender, you can create an offset account within your home loan. You deposit funds into the account and each month, when the bank calculates interest, all or part of the balance in your offset account is deducted from your principal. For example, suppose, you have a balance on your loan of $400,000, your annual interest rate on the loan is 2.24%, and you have $40,000 in a 100% offset account. Your lender will subtract $40,000 from your loan balance when determining your repayment for the month. This means that the interest will be charged on only $360,000 not $400,000, saving you money:
) [2150] => stdClass Object ( [post_id] => 98104 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => While your total income is one factor lenders will consider when assessing how much you can borrow, another key factor is your debt-to-income ratio. The maximum amount you can borrow is based on your income, current debts, and ability to repay the loan amount.Your Debt-To-Income (DTI) Ratio
The DTI ratio is a key metric lenders use to determine if you can pay off your home loan comfortably without getting into financial hardships and mortgage stress. It is calculated as the amount of money you earn divided by your total debts and liabilities. As a simple example, let’s assume the total household income of a couple is $150,000. Assume they are looking at an $850,000 property and they’ve saved a 20% deposit ($170,000), so they need a loan for $680,000. Their total debts and liabilities beforehand are $10,000. So, adding that to the amount of the loan, their total debt would become $690,000. When we divide their total debt by their income, we get a DTI ratio of 4.60. This means their total debt is 4.6 times their combined income.
You can use our DTI ratio calculator to check your own DTI based on any loan amount. Tip: A DTI of 6 is usually considered high. Fortunately, lenders have different policies on what is an acceptable DTI ratio. Some lenders can accept borrowers with a DTI ratio up to 9. Our mortgage brokers know which lenders accept higher DTI limits. Call us on 1300 889 743 or enquire online.Evidence Of Income
You will need to provide sufficient evidence of the income you’re earning. The specific types of income banks accept vary, but the important thing is that they look for a consistent income source. For example, if you’ve only received one bonus throughout your career, then the lender will not consider that part of your income. Your income plays a crucial role in determining how much house you can afford. Our 360° Home Loan Assessor can help you assess your buying power by considering your income, expenses, and other financial factors. By entering your income details, you can get an estimate of the maximum loan amount you may qualify for, enabling you to make more informed decisions about your home purchase.Other Financial Considerations
The amount of deposit you’ve saved, your credit score and your repayment history are also assessed by lenders. A low credit score is a major concern for lenders, and if you miss payments frequently, that’s a red flag. ) [2151] => stdClass Object ( [post_id] => 98118 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Since banks can be quite conservative and turn down people who have minor blemishes on their credit file or were not employed for a long period, private lenders can help. However, at Home Loan Experts, we know lenders who take a commonsense approach to lending. Even if you’ve been in your job for less than a year or there are some defaults on your credit file, we can help you get approved with a bank. Call us on 1300 889 743 or enquire online. Remember, for most borrowers, private lenders should be the last resort, if you can’t get approved by banks or specialist lenders.Is Private Lending Safe?
Yes. Contrary to popular belief, private lending in Australia is safe, as they’re governed by the laws and practices used to govern banks. Also, you can work with a reputable mortgage broker to weed out any shady dealers and find private lenders who are safe and legitimate.How Much Does A Private Lender Charge?
Private lenders usually charge the same fees as traditional lenders. So the expenses involved include application fees, valuation fees, legal fees and loan establishment fees. However, since their interest rates are high, private home loans are expensive. Their interest rates start from 6% and the interest charged depends on the loan amount and how much you’re looking to borrow.How Does A Private Mortgage Work?
The private lender provides the funds to the borrower based on the borrower’s security. The lender will check the security provided and decide how the loan is to be repaid. The lender usually uses a conservative valuation of the property, in case the borrower fails to repay the loan on time and they need to sell it. The set time is usually less than 2 years, at a fixed interest rate. ) [2152] => stdClass Object ( [post_id] => 98129 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Now that you understand how cash rate and interest rates are related, you should ensure that you get the best rates in the market and appropriate home loan features for your unique situation. We can help you get competitive interest rates. Speak to a Home Loan Experts mortgage broker on 1300 889 743 or complete our free online assessment form. [wbcr_snippet id="72598"] ) [2153] => stdClass Object ( [post_id] => 98135 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>A property valuation is an important element of your loan application, and getting the best valuation on your property will secure you a better deal on your home loan.
Usually, we can order most types of property valuation at no cost to you!
Please give us a call on 1300 889 743 or complete our short free assessment form to get the best valuation.
) [2154] => stdClass Object ( [post_id] => 98165 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Quotes For Additional Work
Just in case you haven't read the building contract fine print carefully, not everything is included in the construction so it's important to provide quotes for these additional works upfront.
These additional works include:
- Swimming pools
- Sheds
- Landscaping and retaining walls
- Power poles
- Driveways
A quote is generally all you'll need to provide since these works don't need council approval. Although it varies, these construction jobs aren't permanent structures and are often quite cheap to build.
If you provide quotes, you can borrow to finance these additional costs. If you don't, you'll likely need to fund these costs yourself.
Be careful as some lenders will only release money for the additional work once the main house is completed. This may not suit your construction schedule so, in some cases, we may need to switch lenders.
Do you need help with getting approved for a construction loan?
Give us a call on 1300 889 743 or complete our free online assessment form and let us know what you're planning to build.
We know exactly what documents the bank is after in order for them to assess your application and get the ball rolling.
) [2155] => stdClass Object ( [post_id] => 98167 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>As mortgage brokers, we can’t help you choose a builder, but we can help you qualify for a building loan and get your construction loan documents sorted.
Many brokers, and even the banks, don't understand construction but we do!
Even if you're just looking to renovate, we can help you get access equity in your home to cover the costs.
Call us on 1300 889 743 or complete our free assessment form to speak to one of our expert brokers about your plans to build or renovate.
) [2156] => stdClass Object ( [post_id] => 98169 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => One solution is to use a loan known as a ‘property share loan’. This has some unique features:- Each borrower can have their own loan account that only they can access.
- Each loan account can be under different names.
- The loan is secured on the property that is jointly owned.
- Everyone is joint and severally liable for each other’s loans.
Example: Suppose a brother and sister buy a house together for $1,000,000. The sister has a deposit of $200,000.
The brother has no deposit but a higher income.
They may own the property 50% each yet the sister has a loan of $300,000 and the brother has a loan of $500,000, both secured on the property.
Do you need help with your home loan? Our mortgage brokers are experts in helping people with unusual ownership structures.
Call us on 1300 889 743 or fill in our free assessment form and we’ll get back to you with some options.
) [2157] => stdClass Object ( [post_id] => 98179 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you're planning on taking out a home loan to buy your dream home, we can help you.
With access to more than 50 lenders and 300 loan products, you'll be getting a competitive loan package with a lender that suits your situation and loan needs.
Our mortgage brokers know and understand bank lending policies very well. Call us on 1300 889 743 or fill in our free online assessment form and we can help guide you through the home loan process to settlement and beyond.
[wbcr_snippet id="73073"] ) [2158] => stdClass Object ( [post_id] => 98183 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Based on the state of interest rates and your own finances over the medium to long term, switching your loan to a fixed rate may be a more viable option than staying variable.
So how do you switch to a fixed rate?
The first step is to speak to your mortgage broker to discuss whether now is the right time to fix.
You will also need to determine how long you want to fix for based on your situation.
With most lenders, you can simply give them a call and they can fix your interest rate over the phone.
You also have the option of “splitting” your mortgage into accounts, keeping one fixed and one variable to give your more flexibility over the term of the loan. Some lenders require that you fill in a form, if you only want to fix only a part of your loan.
Most lenders will have a small processing fee of $300 or so to fix or split your home loan.
Your broker can tell whether fixing your home loan is the right decision for your situation so call 1300 889 743 or enquire online today!
) [2159] => stdClass Object ( [post_id] => 98184 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you’re a first home buyer or investor, speak with one of our specialist mortgage brokers to find out the next step for you.
We’re here to guide you through the process and get you the most competitive loan for your situation. Enquire online or call us on 1300 889 743!
[wbcr_snippet id="72894"] ) [2160] => stdClass Object ( [post_id] => 98185 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>As specialist mortgage brokers we have an in depth understanding of each bank's lending criteria, risk appetite and systems. So we know which credit issues are not a problem for each bank.
If you discuss your situation with us up front then we can confirm if we can help you to get approved without changing your situation or we can let you know which specific parts of your situation need to be changed.
If you aren't yet ready to buy a property then we can complete an assessment of your situation using our prepare to buy program.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers can give you feedback on your situation.
) [2161] => stdClass Object ( [post_id] => 98186 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>As mortgage brokers we also have our own special package for high-net-worth clients.
How Much Is The Price Difference?
Initially when you apply for your first few loans the pricing will be moderately competitive. In most cases the difference is 20-40 basis points for loans of around $5,000,000. That is around $10,000 to $20,000 a year.
Once you have made that bank your main financial institution (MFI) and stopped shopping around when applying for new loans it will typically charge you 40 to 55 basis points more. On a $5,000,000 mortgage that is $20,000 to $27,500 a year!
What is the alternative?
If you want to reduce the cost of your loan then it is better to talk to a mortgage broker. Our mortgage brokers are specialists in dealing with high-net-worth clients and know which lenders will give you the lowest interest rates for your loan size.
Please call us on 1300 889 743 or enquire online and one of our staff will call you to discuss your finance needs.
) [2162] => stdClass Object ( [post_id] => 44480 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Are there alternatives to keeping unused funds?
Ultimately, that would depend on your investment plans. If you plan to invest for the long-term, rather than the short-term, you may want to just borrow the amount you need, pay down your home loan as much as you can, and grow your equity. Then you can merely top-up your home loan to use as a deposit for another investment or cross-securitise your home. Speak to one of our specialist mortgage brokers on 1300 889 743 and we can help you qualify for a home loan increase without any charges. ) [2163] => stdClass Object ( [post_id] => 43900 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Don’t risk it! Speak to a mortgage broker
Really need the FHOG and considering cheating the system? Don’t do it!
Even if you’re not sure you’re filling out the application correctly, it’s best to speak with a mortgage broker first.
Getting approved for the FHOG is not the only way to solve a shortfall in funds to complete.
A gift from your parents or a guarantor loan are great options for buying a home with no deposit.
A guarantor home loan has the added bonus of allowing you to borrow up to 105% of the property value, including the cost of Lenders Mortgage Insurance (LMI), stamp duty, legal fees and other property buying costs.
We’re experts in helping first home buyers so please call us on 1300 889 743 or fill our free assessment form today.
We will assist you to complete the FHOG form and tell you which supporting documents you may need to provide.
) [2164] => stdClass Object ( [post_id] => 14053 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>What if my bank asks for my strata insurance?
In rare cases, a lender may ask for a copy of your strata insurance. You can obtain this quite easily by calling your strata manager. If you’re buying a property, then the contact details for the strata manager are listed on the contract of sale. Or you can look through the contract of sale to see if a copy of the strata insurance is in the contract. If you already own the property, then you can find the contact details for your strata manager on your latest strata levy notice. For strata insurance, the lender doesn’t need to be noted as a mortgagee on the policy as this is impractical with so many units in one building.Do I need to provide it again when I renew my insurance?
No, the bank assumes that you renew your insurance every year and will not need evidence of your renewal. However, if you don’t renew your insurance, then it’s likely that you’re not meeting the terms of your loan agreement with the bank. If the bank becomes aware of this, then they may charge you a default interest rate or take legal action against you.
Why do banks ask for it?
Since banks and lenders hold the mortgage over the property, they ask the borrower to mention their name as the ‘mortgagee’ or ‘interested party’ in the insurance policy. They request this procedure in order to protect themselves from damage, loss or any unexpected event. If you make a large claim on your insurance, then the insurer may notify your lender that your property has been damaged. This is also to protect the lender in the event that the customer doesn’t insure their property! Obviously, if a bank has taken a property as security, which then burns down, the bank could potentially be at risk if the borrower didn’t have insurance. This is why they ensure that your property is insured before advancing the loan. If you have any further questions about your certificate of currency, please feel free to call us on 1300 889 743 or fill in our free assessment form. ) [2165] => stdClass Object ( [post_id] => 37843 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Do You Need Help?
Please call us on 1300 889 743 or complete our online enquiry form and we can help you qualify for a home loan if you’re living rent-free with your parents. ) [2166] => stdClass Object ( [post_id] => 49010 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Need A Property Valuation?
Getting a property valuation is an important part of your home loan application process. At Home Loan Experts, we can order most types of property valuations for free. Call us on 1300 889 743 or complete our free online assessment form to get the best valuation. ) [2167] => stdClass Object ( [post_id] => 13939 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Mixed use zoning may enable you to borrow slightly more if the property can be used 100% as a residential home.
However, all other zoning types will not affect the valuation and borrowing capacity unless they in some way prevent the property from being used to its full potential.
What types of properties are considered ‘mixed use’?
Retail properties with an apartment upstairs are the most common type of mixed property.
Converted terrace houses that are now used as offices or as a retail showroom can also fit into this category.
However, there are many converted warehouses that are used as creative spaces with a residence within them. In most cases, these properties have exposure on a main road and rear lane access which makes them suitable for a resident and a business.
Call us on 1300 889 743 or complete our free assessment form and one of our specialist brokers will be able to assist you.
) [2168] => stdClass Object ( [post_id] => 79811 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Yes, you can move back in to renovate. It’s essential to think about the practical aspects of moving into your rental property to do this. You will be able to move in immediately if the property is unoccupied and there is no tenant. However, this will be a little more challenging if there is a renter in place. Residential tenancy laws provide tenants with several rights, one of which is adequate notice that an owner intends to return to the home to live. To re-enter the property, you’ll need to issue a Notice to Vacate to any tenants and provide them with the required notice period. Each state has its own rules, and it’s critical to get in touch with your property management to ensure that everything goes smoothly. When evaluating the financial ramifications of converting the property to a PPOR, you must also consider the loss of rental income. Additionally, living in an investment property can affect the depreciation deductions you can claim. Investors cannot claim deductions for the loss in value of previously used plants and equipment found in second-hand residential buildings. Any item you own that you added during remodelling, like a cooktop, is previously used (by you), and will be classified as a second-hand asset. With this in mind, tax-wise, the brand-new property is usually the most profitable option for investors. So, all equipment and furniture should be acquired and installed when the property is no longer used as a PPOR. New walls, kitchen cabinets, toilets and roof tiles, on the other hand, can be claimed by owners of income-producing houses.We’re here to help!
If you’re looking at moving back into your investment property, our Home Loan Experts can help. We’ll make sure you get the best tax benefits and take full advantage of your finances. Call us on 1300 889 743 or fill in our short assessment form to discuss your situation. [sg_popup id=81314] [wrs-floating-call-btn] ) [2169] => stdClass Object ( [post_id] => 84025 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>With increased income and borrowing capacity come new opportunities for financial planning. It’s crucial to assess your situation and align your financial goals.
If you aim to buy a home and invest wisely, the team at Home Loan Experts are passionate about helping you. Call us on 1300 889 743 or enquire online free, today.
) [2170] => stdClass Object ( [post_id] => 78961 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Making the right choice might seem daunting, but you don’t have to navigate the options alone. At Home Loan Experts, our trusted mortgage brokers are with you every step of the way. Call us on 1300 889 743 or complete our free assessment form today.
) [2171] => stdClass Object ( [post_id] => 78371 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you are stuck with an insolvent builder or one you suspect might be going bust, talk to the experienced mortgage brokers at Home Loan Experts. We will help you assess your situation and find out what will be best for you. We can also talk to the lender and find out if a repayment pause is possible. Generally, lenders are hesitant to give a loan with a half-built home as security. If you need funds to complete your partially constructed home then we can also help you secure a loan after assessing your situation. Call us today on 1300 889 743 or fill out our free enquiry form online! ) [2172] => stdClass Object ( [post_id] => 84407 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Did you know it's harder to qualify for a loan if mortgage insurance approval is required?
Mortgage insurers are very conservative when assessing a 95% home loan or 90% home loan, so it is unlikely that you can get approval for such loans from every lender.
Unlike most mortgage brokers, we work out which lenders may approve your loan before providing you with a quote.
This way, we don't waste your time by offering you a discounted home loan that won't be approved!
Mortgage insurers are more likely to decline your mortgage application if:
- You don't meet their genuine savings requirement.
- You don't pass credit scoring criteria.
- You want to buy a property type that lenders might not like.
Are you ready to apply for a home loan?
Simply call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers will let you know which lenders may approve your loan.
) [2173] => stdClass Object ( [post_id] => 84776 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>How do banks get around these problems?
The major banks tend to refer many enquiries about borrowing using a trust to their business banking department.
This works well for the bank as more experienced staff handle the loan. However, the customer is often charged a higher rate and more fees, making it more expensive to get their loan approved.
Business banking is slow, expensive, may not include a low doc option and tends to allow you to borrow far less than you can with a residential loan.
We know lenders with lower fees and competitive rates!
Please call us on 1300 889 743 or complete our free assessment form today!
) [2174] => stdClass Object ( [post_id] => 84841 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you need extra funds during construction, we can help you out after assessing your scenario and needs.
To talk to a mortgage broker that specialises in half-built home loan, please enquire online or call us on 1300 889 743.
[wbcr_snippet id="72900"] ) [2175] => stdClass Object ( [post_id] => 918 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Yes. New Zealand citizens residing in Australia are eligible for the First Home Owner Grant (FHOG), as they are considered permanent residents. There are some requirements you’ll have to be met to buy a home as a New Zealand citizen:
Living in Australia: In most cases, you need to be physically living in Australia at the time of settlement.
State requirements: The FHOG is a national scheme, but each state/territory has its own eligibility requirements and grant amounts. Some states may have residency requirements (e.g., living there for 200 days).
Additionally, you have to meet the eligibility requirements for FHOG. Our expert mortgage brokers can help NZ citizens in Australia access the FHOG. Call us at 1300 889 743 or complete our free online assessment form.
) [2176] => stdClass Object ( [post_id] => 3596 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We’re here to make co-ordinating your purchase and sale simple. Our experienced mortgage brokers will:
- Find the most suitable loan options for your situation.
- Guide you step-by-step to ensure everything aligns perfectly.
Call us today at 1300 889 743 or fill out our free online assessment form, and we’ll get in touch to help you achieve a smooth, stress-free settlement.
) [2177] => stdClass Object ( [post_id] => 33308 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>What the banks are looking for is that all parties to the loan get a benefit.
Legally, all borrowers are required to benefit from the loan.
However, it isn’t legally required that all people offering security (mortgagors) are getting a benefit from the loan.
Funnily enough, they can also be a borrower if they are getting a benefit from the loan. If they aren’t, then they are known as a guarantor.
So if it isn’t required for the property owner to receive a benefit, why do the banks care?
Well, if the person using the money and making the repayments isn’t the person who has their property at risk then all sorts of trouble can happen.
Imagine you helped a friend or extended family member borrow money against your property and then you had a falling out.
They may decide to stop making repayments just to spite you!
As you can see, there’s the potential for a lot of trouble here.
Call us on 1300 889 743 or fill in our free online assessment form and our specialist mortgage brokers will help you to get approved.
) [2178] => stdClass Object ( [post_id] => 68496 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Are you thinking of buying a home with your partner or friend? Think twice about the property ownership structure. While you might be able to buy a higher-priced property, you have to choose a structure that is right for your goals and financial circumstances. Our mortgage brokers are here to help. Call us on 1300 889 743 or enquire online.
) [2179] => stdClass Object ( [post_id] => 940 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Banks and other lenders in Australia tend to view trusts as extra work for them without any extra reward.
Trust applications are very complex, often with legal issues to consider, as well as more extensive paperwork to complete before approving the loan.
The majority of bank managers, mortgage brokers and credit staff don’t understand how trusts work so trust applications tend to get bounced between bank departments, resulting in delays and errors.
On top of this, many bank managers don’t actually know if their own bank does trust loans as many banks have ambiguous credit policies.
One of Australia’s major banks in particular can’t lend residential loans for trusts simply because their computer system can’t handle them!
We are mortgage brokers that specialise in financing loans for trusts.
Please contact us on 1300 889 743 or complete our free assessment form to find out which lenders will allow you to borrow for your trust.
) [2180] => stdClass Object ( [post_id] => 31076 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Check out the interest only versus principal and interest page to discover out the benefits and drawbacks of making IO or P&I repayments.
Alternatively, try the P&I or IO calculator to work out the hard dollar savings or interest expense over a 30-year loan term.
Not sure if an interest only home loan is right for you?
Call us on 1300 889 743 or complete our free online assessment form to find out.
) [2181] => stdClass Object ( [post_id] => 3378 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We can help all shift workers in any profession.
We can be particularly helpful for people working in essential services such as nursing where shift work is often a condition of employment.
If you work in any of these professions, or receive shift allowances on a regular basis, please contact us on 1300 889 743 or enquire online today.
Depending on how regularly you receive your allowances, we can ensure that you apply with a lender that will include this income when assessing your ability to repay the loan. Call us today!
Which loan types are available?
All loan types: Professional packages, basic loans, lines of credit, fixed rates.
How much can I borrow?
You can borrow up to 90% of the property value and possibly 95% for very strong applicants.
What can I use the loan for?
Home or domestic use, investing, purchases, refinances and construction are all acceptable loan purposes for a shift allowance home loan.
Discounts
Professional package and basic loan discounts are available.
Loan Features
All loan features: Interest only, fixed rate, line of credit, 100% offset, redraw, extra repayments.
) [2182] => stdClass Object ( [post_id] => 13591 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>As mortgage brokers, we know exactly which banks are trying to win market share by offering special discounts and which lenders are not interested in lowering their rates.
In addition to this, the banks offer us competitive discounts right away because they know that if they do not give us a resonable offer then another bank will!
Please enquire online or call us on 1300 889 743 and one of our mortgage brokers will give you a call to discuss which special offers you may qualify for.
) [2183] => stdClass Object ( [post_id] => 53925 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Did you know that major banks typically charge much higher rates for business loans even when they are secured on your property? Here are some simple tips to get approved at a good rate.- Get home loan rates for your business loan: Some lenders allow you to get home loan interest rates if you're using real estate as security.
- A good repayment history: If you can show six months perfect repayments then this gives lenders comfort that you're not in financial distress. Pay on time, every time.
- A repayment holiday can affect refinancing: Lenders haven't announced how a repayment holiday will be assessed when refinancing, but it's likely to be a significant negative for most lenders.
- Negotiate to avoid defaults: If you're unable to pay your bills or debts, then try to negotiate with your creditors to avoid getting a default lodged on your credit file.
- Credit repair: If you do have defaults, then a credit repair organisation may be able to help to remove defaults, judgements and other bad credit.
- Mitigate the risks: Lenders are very risk-averse, so make a case! Our mortgage brokers often provide more than the minimum documents, e.g. a 3-year history of perfect payments instead of 6 months. This gives the lenders comfort to make exceptions to policy.
Despite the cons, property is usually more stable than other investments. Use our investment property calculator to get an idea about the cash flow position of your potential investment property.
Once you have a clear idea, Home Loan Experts’ mortgage brokers can help you qualify for an investment loan. Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form.
) [2185] => stdClass Object ( [post_id] => 32214 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Buying an existing firm with the freehold property attached (freehold going concern) may be a better option than simply buying the business (leasehold).
The reason is that there is an inherently higher risk is simply relying on the strength of the business to provide you with a steady return on investment.
At least if you buy the commercial property, whether it's an office, warehouse or mixed use shop front, the land and the property may retain value.
If the consultancy hits a rough patch, you can always sell the premises to an investor in the knowledge that you're planning to remain there on a long term lease and meet your rent.
Of course buying the freehold along with the business will require more expertise than an accountant can provide.
It often makes sense to enlist the help of professional valuer to ensure that you're getting what you're paying for.
As an engineer, you can organise for any repairs or renovation work that needs to be undertaken. The point is, you can negotiate these costs in the contract of sale with the vendor.
Are you simply looking for a space to run your engineering firm?
We can help you qualify for a standard commercial loan and know lenders that will allow you to borrow up to 70% of the purchase price or up to 100% if you have enough equity in any residential properties that you own.
Call us on 1300 889 743 or complete our free assessment form to find out how we can help you.
) [2186] => stdClass Object ( [post_id] => 189 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Some lenders will allow you to switch to a full doc loan for a small fee after two years of perfect conduct (on time repayments).
Some lenders will require full income verification such as tax returns when you want to switch to a full doc loan or if you try to switch when you do not have two years of good conduct. With other lenders there is no need to switch because low doc and full doc loans have the same interest rate.
If in doubt just call us on 1300 889 743 or enquire online and we can help answer your questions.
How do I apply for a low doc loan?
We are specialists in Low Doc Finance and can help you find the right lender.
Just go to our Apply for a Low Doc Loan section and send us your details. We'll be in touch with a few competitive quotes and will answer all of your questions.
Alternatively you can call us on 1300 889 743 and speak to one of our mortgage brokers right away!
) [2187] => stdClass Object ( [post_id] => 25498 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>As mentioned previously, you won’t be able to qualify for a home loan when you’re in a debt agreement but you may qualify once your agreement comes to an end.
Check out the Debt Agreement Home Loan page for specific eligibility requirements.
Alternatively, call us on 1300 889 743 or complete our free assessment form to find out how one of our specialist mortgage brokers can help you get approved.
) [2188] => stdClass Object ( [post_id] => 99 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our mortgage brokers are experts on the policy of over 40 lenders. This means that if you have a situation that is a little outside of the box then there will usually be a few lenders that can consider your application.
Having so many options available allows us to choose a bank that suits your needs and offers an attractive loan package.
We work closely with a variety of banks and non-bank lenders and have a strong relationship with the large banks including Commonwealth Bank, ANZ, Westpac, National Australia Bank and St George.
Whatever your situation, there is generally a lender who can help!
How long does a pre-approval last?
Pre-approvals are usually valid from between three to six months. If your pre-approval expires before you find a property then we can apply for an extension.
Did you know that some banks do not provide reliable pre-approvals? If you are thinking about purchasing property with a pre-approval then speak to us first on 1300 889 743 or enquire online and get in touch with a broker who can assess whether or not you will qualify for a home loan.
) [2189] => stdClass Object ( [post_id] => 61801 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Our mortgage brokers are here to help you by giving free advice for your situation. You can enquire with our experts with no fear of a credit enquiry that could affect your credit score. Call us on 1300 889 743 or fill in our free no-obligation assessment today. ) [2190] => stdClass Object ( [post_id] => 32510 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Like getting a line of credit for your home loan, the interest on an overdraft facility is usually slightly higher than your business loan.
In addition, the interest rate is always variable unless you have a strong business turnover and are using the facility on a regular basis, in which case you're likely in a position to negotiate a fixed rate.
We can help!
We have a range of lenders to choose from and strong relationships with key decision makers.
Let us help you find a business finance solution that works for you and at a great price.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [2191] => stdClass Object ( [post_id] => 64843 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Following a few amendments, Lana’s loan request was finally acceptable to the lender. The approval was received shortly from the lender, and soon after, the settlement was made. Lana was now officially a first home buyer. Thanks to Steven, she was able to own her first property as a single applicant in Queensland. Not to forget, close to her parents. Lana wishes more other borrowers would rely on an expert broker as she did. She’s glad she knew where to get help from. If you or somebody you know wants similar help, feel free to call us on 1300 889 743 or fill in our free assessment form to start your home buying journey today. ) [2192] => stdClass Object ( [post_id] => 52484 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => If you’re in a similar situation, speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short no-obligation assessment form and find out if you qualify within 24 hours. ) [2193] => stdClass Object ( [post_id] => 45028 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Even if you've received overtime income for just three months, we may be able to help you find a lender that can consider 100% of this income.
Please call us on 1300 889 743 or complete our free online assessment form to discover if you qualify for a police home loan.
[wbcr_snippet id="74546"] ) [2194] => stdClass Object ( [post_id] => 68889 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Once you’ve done all your research, online and off, and zeroed in on your dream home, make sure you do not lose the chance to purchase it. Speak to our mortgage brokers at Home Loan Experts by filling out this free enquiry form or calling us on 1300 889 743. Our experts will help you secure a mortgage or a pre-approval from the most suitable lenders at the best rates for your circumstances. [wbcr_snippet id="73275"] ) [2195] => stdClass Object ( [post_id] => 1945 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Please call us on 1300 889 743 or enquire online if you wish to talk with a mortgage broker who can give you expert advice on professional package discounts.
) [2196] => stdClass Object ( [post_id] => 35153 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>When borrowing more than 70% of the property value, you may have to pay thousands of dollars upfront in Lenders Mortgage Insurance (LMI).
However, this isn’t the case with all lenders, so call us on 1300 889 743 to find out if you can avoid LMI.
) [2197] => stdClass Object ( [post_id] => 34960 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>The rules around SMSF and LRBAs are constantly changing, so check with your accountant, financial planner or even the Australian Taxation Office (ATO).
We're experts in SMSF loans, so we're always on the front foot with changes to lending policy.
Although SMSF construction finance isn't currently available, that may well change in the future.
If you want to invest in property now, call us on 1300 889 743 or fill in our online enquiry form and discover if you qualify for an SMSF loan.
) [2198] => stdClass Object ( [post_id] => 503 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Yes. Bank valuers use comparable sales in the local area to determine the value of your property. If you’re buying the property then they will usually value the property at the contract price.
If you already own the property then they may be a little conservative because they will have trouble finding other dual occupancy properties that have sold in the area and do not have the contract of sale as additional evidence to support their valuation.
In capital cities, they may use a wider search area to compensate and, as a result, the valuer can normally find enough comparable sales of duplexes, dual occupancies, properties with granny flats and houses converted into two units.
In smaller towns, this can be difficult because there is almost certainly going to be a lack of comparable sales. As a result, the bank valuer may be more conservative.
If you’re looking to purchase a dual-occupancy dwelling and wish to apply for finance, please call us on 1300 889 743 or fill in our free assessment form today.
) [2199] => stdClass Object ( [post_id] => 46874 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>There is always a balancing act between paying down your mortgage fast and maximising your equity, and quickly acting to advantage of investment opportunities.
Call us on 1300 889 743 or fill in our online enquiry form today.
Our mortgage brokers cannot provide you with specific financial advice but we can assess your current situation and guide you toward making a decision that is right for you.
) [2200] => stdClass Object ( [post_id] => 45536 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free online assessment form to speak with an experienced mortgage broker about your situation.
[wbcr_snippet id="74823"] ) [2201] => stdClass Object ( [post_id] => 22309 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => We know lenders that look favourably on snow lease properties in the Thredbo area in New South Wales. Despite this, Thredbo and the following locations are considered high risk by most lenders with LVRs capped at 80% LVR.- Mount Buller
- Mount Hotham
- Falls Creek
- Perisher Blue
) [2202] => stdClass Object ( [post_id] => 5632 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>As a veteran pension is a guaranteed regular income until the end of the loan term, this then meets the criteria of some lenders of being able to meet repayments of the loan on a regular basis. As a result of this you may be eligible for the same discounted interest rates that are offered to people who have a standard income from a job.
If you are interested in buying or refinancing a property with an acceptable veteran pension then please call us on 1300 889 743 or enquire online and we can help you work out how much you can borrow.
[wbcr_snippet id="74568"] ) [2203] => stdClass Object ( [post_id] => 32026 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Like a standard residential home loan, you can refinance your commercial investment loan at the end of the fixed period whether you fix for 1, 2, 3 or 5 years.
With a number of major banks and lenders can choose from, we can shop you around and find a great commercial interest rate for you.
Better yet, we can help you access equity in your commercial property (up to 80% of the property value) so you can buy your next commercial property.
We can help you continue to build your commercial property portfolio with competitively-priced commercial loans.
Discover if you can get a commercial investment loan by calling us on 1300 889 743 or by filling in our free assessment form.
) [2204] => stdClass Object ( [post_id] => 21672 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We strongly recommend that you consider a guarantor loan before you use a personal loan or read our page on buying a home with no deposit.
Speak to our mortgage brokers by calling us on 1300 889 743 or fill in our free assessment form and we’ll call you back to discuss your options.
[wbcr_snippet id="73239"] ) [2205] => stdClass Object ( [post_id] => 944 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Do you need the help of an expert mortgage broker? Our brokers are trained to handle trusts and understand what it is you are looking for!
Please contact us on 1300 889 743 or enquire online and one of our mortgage brokers will help you select the best lender around and apply for a home loan.
) [2206] => stdClass Object ( [post_id] => 173 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Please enquire online or call us on 1300 889 743 approximately four weeks before starting construction. Remember that the cheapest lenders are also the most popular! If you want the best low doc construction loan then be prepared to wait a few weeks for the lender to process your application.Get a low doc construction loan today!
Are you self-employed? We know which banks will approve your loan, without the need for tax returns and other financials. Enquire online or call us on 1300 889 743 to find out how you can get a low doc construction loan with great interest rates.
) [2207] => stdClass Object ( [post_id] => 32553 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Buying an ACT leasehold or a Canberra property may seem daunting but it doesn't have to be.
We have relationships with almost 40 lenders all over Australia, including the major banks, specialist lenders and private lenders. We can help you get approved for a Canberra property home loan.
Speak with one of our specialist mortgage brokers today on free 1300 889 743 or complete our online assessment form for a free quote!
[wbcr_snippet id="73418"] ) [2208] => stdClass Object ( [post_id] => 31382 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Home Loan Experts has a team of dedicated commercial loan specialists with a number of years of experience working as the decision-makers in the credit department of Australia's largest banks and lenders.
They know what the bank is looking for in an accounting practice commercial loan application and how do position the strengths of your financial situation so you can qualify for a higher Loan to Value Ratio (LVR) and significantly reduced commercial interest rates.
Find out how you can set up your loan, so it best suits your needs as you grow your business by checking out the commercial loan features page.
With an extensive lending panel and credit expertise, our mortgage brokers are accounting practice commercial loan specialists.
Call us on 1300 889 743 or fill in our online assessment form today.
) [2209] => stdClass Object ( [post_id] => 361 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Begin your application today to benefit from our specialised services. Call us at 1300 889 743 or complete our free online enquiry form today. Let Home Loan Experts guide you through your self-employed home loan journey with expertise and care.
) [2210] => stdClass Object ( [post_id] => 35474 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Most lenders prefer properties that are located near metro hubs or major regional towns.
This, again, comes down to the marketability of the property.
In the event you default on your liveable shed loan, the bank would need to quickly sell the property to recoup their losses.
Rural locations have a much smaller market for potential buyers. To get a better idea of where you stand, try the postcode restrictions calculator.
We know of a couple of lenders that are more flexible when it comes to location!
Give us a call on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers about the property.
) [2211] => stdClass Object ( [post_id] => 357 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>What do the lenders think?
Contractors are typically treated like casual employees by the banks. They are considered to be in a very unstable employment arrangement with a high chance of having their contract cancelled, even if they are employed through a major contractor management firm such as Contract1 or Ambit.
What documents will I need to provide?
In most cases, you'll be asked to evidence your income and future employment stability through a letter of employment.
If you require an employment letter template please contact the Home Loan Experts team on 1300 889 743 and our mortgage brokers will be able to provide you with one.
The secret to getting a home loan while working as a contractor is to apply with the right bank!
Please fill in our free online assessment form to speak to a mortgage broker who can help you to get approved!
Which lenders can help?
Contract worker home loans are usually sourced through major banks that specialise in ABN contractors & PAYG contractors.
Non-conforming non-bank lenders may also be able to help, however in most cases we prefer to work with major lenders as then you can get a very competitive interest rate.
Which loan types are available?
All loan types such as professional packages, basic loans, lines of credit and fixed rates are available.
How much can I borrow?
You can borrow up to 90% of the property value plus LMI (Lenders Mortgage Insurance) using a bank loan depending on what type of employment contract you have with your employer.
If you're in a strong financial position we can help you to get approved for a 95% or 100% mortgage (100% only available as a guarantor loan).
What can I use the loan for?
The home loan can be used for home / domestic use, investing, purchases, mortgage refinances and construction purposes.
Who is this loan for?
This type of home loan is for PAYG contract workers / contractors, subcontractors and self-employed contractors that have only themselves working in their own business and who contract to one main employer / client.
Low doc loans are also available.
Am I eligible for any discounts
Professional packages and basic loan discounts are available and you should be eligible for a significant discount below the bank standard variable rate.
Our expert brokers know the policies of all the major lenders in Australia and know which ones are more willing to extend you a discount. Call us on 1300 889 743 or complete our free online assessment form to talk to one of our mortgage brokers who can get you competitive rates for your home loan application.
What are the loan features?
All home loan features - interest only, fixed rate, line of credit, 100% offset, redraw, extra repayments - are available!
) [2212] => stdClass Object ( [post_id] => 47889 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Did you know that maintaining a clean credit file is just one of the factors that lenders consider when assessing your application?
In fact, some banks even use their own credit score which takes into account not only your credit file but your employment statusemployment status, your current postcode and whether you have genuine savings.
It is tougher than ever to qualify for a home loan!
Luckily, we're experienced mortgage brokers with many lenders to choose from.
Enquire online or call us on 1300 889 743 to start your home loan journey today.
[wbcr_snippet id="75445"] ) [2213] => stdClass Object ( [post_id] => 327 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our award-winning brokers get tough loans approved
) [2214] => stdClass Object ( [post_id] => 1595 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>The main types of salary packaging that we encounter are:
- Superannuation packaging: This is where you've chosen to have part of your salary paid into super. We have a lender that considers this a voluntary contribution and adds this money back to your income when assessing your loan.
- Novated lease: Some employers will allow you to pay for the costs of leasing and running a motor vehicle from your pre-tax salary.
- Rent: Packaged rent causes an issue for some lenders as they note that when you buy a home, this rent will cease and so will your benefits. We've been able to get around this by switching to loan packaging after the loan is advanced.
- Home loan: Packaging your home loan is one of the best ways to reduce your tax bill. Your loan must be paid directly by your employer so often we set up a line of credit style accounts to accommodate this requirement.
- Laptop / phone: Minor electrical goods such as a notebook are often allowed to be salary packaged.
As a general rule, as long as you can explain how your salary is paid, we can break down your taxable and untaxed salary and find you a suitable lender.
We most commonly deal with specialist companies like RemServ, government employees, NGOs and not-for-profit company employees that receive exceptional (and often complex) taxation benefits from packaging / salary sacrificing their expenses.
Fill in our free online assessment form or contact us on 1300 889 743 to talk to a mortgage broker that specialises in lending to people who have pre-tax deductions in their pay and can help you to salary sacrifice your home loan repayments.
) [2215] => stdClass Object ( [post_id] => 31083 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our mortgage brokers are commercial loan experts and can help you find the right lender that will take a common sense approach to your Anytime Fitness finance application.
Call us on 1300 889 743 or complete our free assessment form today.
) [2216] => stdClass Object ( [post_id] => 77543 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our specialist mortgage brokers can provide insight into how to move forward if your existing pre-approval is affected by a rise in interest rates. It’s important to take action now and get pre-approved before rates rise even further. Call us on 1300 889 743 or fill in our free online assessment form today.
) [2217] => stdClass Object ( [post_id] => 30711 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>As you consider buying property overseas, you should speak to a qualified accountant about your plans.
There are a number of tax implications when investing across borders and they can get quite complex.
Taking advantage of tax benefits will help you build a strong investment portfolio over the long-term.
Do I need to tell the ATO?
You don't need to inform the Australian Taxation Office (ATO) that you're buying property overseas but you need to disclose that you did so in your next tax return.
This disclosure will cover things like the rental income you earned and your expenses including any capital gains tax (CGT) gains or losses.
When you take into account the double tax agreements (DTA) in place with Australia and a number of different nations and the powers that the ATO has to track and punish tax-dodgers, it's recommended you be honest to avoid huge fines.
Check out the 'Rental income from overseas property' and 'Capital gains on overseas assets' for important information.
What is a double tax agreement?
In many cases, both Australia and the country in which the property is located have taxing rights over rental income.
In a DTA arrangement, Australia's foreign income tax offset (FITO) system means the tax payable on rental income is reduced if you've already paid foreign tax for the same income.
In other cases, the DTA may grant exclusive rights to the country in which the property resides to tax rental income and CGT, exempting you from tax in Australia.
In Australia, standard CGT requirements apply when selling property overseas, so check out the 'What Is Capital Gains Tax?' page for more information.
You should speak to your accountant about whether you're better off paying tax on rental income or CGT in the foreign country or Australia.
What about foreign exchange?
Foreign exchange rates can be really detrimental to any significant capital gains you made in an overseas real estate market.
It can also be quite complex and can come with a whole host of fees when transferring funds (like rental income or sales proceeds) to and from Australia.
In some cases, you may be better off setting up a bank account in the foreign country.
It's important to speak to your accountant about this.
What about foreign exchange controls?
There are no foreign exchange controls for transferring funds out of Australia that you need to worry about.
This is really helpful when transferring your deposit overseas.
However, there may be foreign exchange controls in the country you're investing in.
These controls include fixed exchange rates and restrictions on the amount of currency that can be imported.
Countries with exchange controls are known as "Article 14 countries" and most common in poorer countries even after free trade and globalisation exploded in the 1990s.
They are very few and far between these days but some of these countries include:
- China
- Cuba.
- Egypt.
- Iran.
- Malaysia.
- Pakistan.
Can I claim tax deductions in Australia?
Any outgoings to repair or claim depreciation on overseas investment property are tax-deductible in Australia against the rental income.
What's not tax-deductible are improvements to the property that are for cosmetic purposes such as extensions or fitting out a new kitchen. These are capital expenses and not necessary for the building itself.
You should check with the local tax jurisdiction as to what you can claim on tax because it may not necessarily be the same as Australia.
Negative gearing
Since 1 July 2008, any net foreign loss incurred may be offset against any Australian or overseas income.
In the past, you could only offset against foreign income.
Do you need help buying a property overseas?
If you have an existing mortgage in Australia and want to know if you can cash out to invest in real estate offshore, call us on 1300 889 743 or fill in our online assessment form to find out how our mortgage brokers can help.
Buying property overseas is possible with a little creativity and help from an expert.
) [2218] => stdClass Object ( [post_id] => 946 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>This structure is complex and almost all banks do not accept it.
There are no standard residential lenders that can help if two separate super funds own units in the trust.
However, if just one SMSF owns units in your trust and the beneficiaries of the SMSF are the same as the directors of the trustee company of the unit trust, there is a benefit for the guarantors of the loan. In this case, we can help you to get approval.
Only one of our lenders can assist with this structure. Please call us on 1300 889 743 or enquire online to talk to one of our mortgage brokers to find out which lender can help you get approval.
Discover moreabout unit trust loans with an SMSF as a unit holder.
) [2219] => stdClass Object ( [post_id] => 44225 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>- Make sure you ask specifically about home loans for psychiatrists.
- If you're borrowing over 80% of the property value then it's best to focus on getting waived LMI.
- If you're borrowing less than 80% of the property value then you won't be charged LMI anyway so it's better to focus on getting a competitive interest rate discount.
- If you're buying a commercial property then other discounts and packages are available.
- Make sure the broker you're dealing with has access to many lenders, including your bank.
- Make sure the broker you're dealing with knows which lenders are currently pricing aggressively to win market share.
- Maximum discounts are not advertised or published by lenders so make sure your broker knows the limits that they can negotiate to.
- Always ask about fees. Services are generally free except for short term loans and complex situations.
Call us on 1300 889 743 or complete our free assessment form to discover which lenders offer the most competitive home loans for psychiatrists.
) [2220] => stdClass Object ( [post_id] => 36219 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Income
The lender may potentially lend up to 80% of the value of each unit if you can provide your last two years business and personal tax returns or Notices of Assessment (NOA).
One of our lenders can also accept up to 85% of rental income from any of the properties that you've already sold as well as other investment properties you may own.
It's common for self-employed applicants, or people who operate a company via a trust, to not be up-to-date with their financials.
If you cannot prove your income with tax returns, some specialist lenders will accept the following as alternative evidence:
- An accountant’s letter verifying your income.
- Business bank statements showing a high turnover.
- Old tax returns (over 24 months).
- Interim financial statements.
This is known as a low loc loan and it means your LVR may be restricted, potentially around 60%.
Good character
You need to have a perfect history of paying your debts and bills on time as well as a clean credit file.
The lender will also ask for a borrower repayment declaration as evidence that you've been on top of your development loan repayments.
If the project is considered a commercial development, there may be exceptions to this but be aware that you'll have to pay a higher interest rate and your LVR will be restricted.
Evidence that you're actively selling
This includes providing evidence that you will be actively marketing the sale of the stock in the near future.
Bear in mind that residual stock loans are approved on a short term, typically 1-2 years.
Reasonable exposure
Our best lender for residual stock loans will assess each case on its merits but they take a common sense approach.
For example, a 10 unit development with 2 pre-sales may be considered.
However, a 40-60 unit development with only 10 pre-sales may be too much of a risk to the lender and your loan could be declined.
Again it's all case by case so speak to one of our specialist mortgage brokers so we can present a strong case to the right bank.
Location
Because the bank is taking on the exposure of unsold units, they prefer lending against developments in metro locations and large regional areas.
That's because there's a better chance that the residual stock can be sold as opposed to projects in rural or regional areas.
Call us on 1300 889 743 or complete our free assessment form to find out if you qualify.
) [2221] => stdClass Object ( [post_id] => 72699 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you can buy now, you increase the likelihood of getting your dream house, as there is more stock in the market but there are fewer buyers. Interest rates are rising but if you can cope with the rising interest rates for a few years, then purchasing is likely to benefit you in the future. Eventually, the interest rate is expected to go down. Every person’s situation is unique and requires a unique solution. Share your situation and get to know different possibilities from our experienced mortgage brokers. Call us on 1300 889 743 or complete our enquiry form now to get in touch with our mortgage brokers!
) [2222] => stdClass Object ( [post_id] => 79193 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>At Home Loan Experts, we understand the complexities of the Australian mortgage and property market. With access to over 50 lenders, we can help you find the perfect loan for your needs. Your dream home is just a call or click away! Call us on 1300 889 743 or fill in our free online assessment form.
stdClass Object ( [post_id] => 29438 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>A lender will assess every case on its merits so our job as a broker is to present a good case and mitigate any weaknesses with the strengths of your application.
In relation to running a business from the office as your sole source of income, the bank will usually undertake what is known as a SWOT analysis, an acronym for Strengths, Weakness, Opportunities and Threats.
Although it works differently from lender to lender, a SWOT analysis for your office business may look something like this:
Strengths: You've had several years of experience running your business and have a solid plan with forecasting on why your expansion plans make sense.
Weaknesses: You have no experience in managing and marketing a business and you don't have another source of income should the business fail.
Opportunities: You're buying an office in a prime location that's close to your desired clientele and/or business suppliers.
Threats: This refers to factors that are largely out of your control, such as advances in technology that make your business offering or service obsolete.
Call 1300 889 743 or complete our free assessment form and one of our commercial mortgage brokers can help you build a strong case with the right lender.
) [2224] => stdClass Object ( [post_id] => 48421 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Did you know some lenders will actually give you cash backs of anywhere between $2,000 and $3500 to refinance your mortgage with them?
You can take advantage of these low mortgage rates and strong competition between the lenders to refinance at a competitive interest rate with a different lender.
The cashback is typically paid within a month of your loan being advanced, either to your nominated account or via a cheque.
These offers only last for a short time so please call us on 1300 889 743 to find out if you qualify.
) [2225] => stdClass Object ( [post_id] => 44710 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>At Home Loan Experts, we have over 15 years of experience in refinancing home loans for our clients. Listed below are some of the reasons you should consider refinancing through us.
- We are an award-winning mortgage broking firm with several award-winning mortgage brokers working for us.
- We have more than 50 lenders to choose from, including major banks and specialist lenders.
- Our brokers are specialists in what they do, and refinancing is a niche in which they are well versed.
- Many of our brokers have obtained an elite/flame status with some of the banks, which means their loan files are taken as high priority in terms of the lender’s turnaround time and the service offered.
- So far, we have refinanced over a billion dollars in home loans, helping about 2100 households.
- We have a customer relationship team that helps new refinancing clients while the customer success team helps existing refinance clients.
- We have a team of loan processing specialists who can help you with filling out your discharge form and processing your refinance loan application on your behalf.
- We have received numerous positive client testimonials and google reviews as proof of our excellent customer service.
We can help you refinance to a more competitive rate, unlock your equity, get you the best cashback offers, and help you achieve your financial goals.Speak with one of our experienced mortgage brokers about the benefits of refinancing. Call 1300 889 743 or fill in our free online enquiry form today.
) [2226] => stdClass Object ( [post_id] => 30605 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Although a debt consolidation guarantee loan allows the borrower to manage their debts and buy a property, the guarantor can still be placed at risk.
Ultimately, the guarantor will be liable for the loan if the borrower fails to make the repayments. In this situation, if both the borrower and the guarantor are unable to make the repayments, the bank will have no other option but to sell the property.
This is why it's recommended that you speak to a legal professional to get legal advice before you decide to be the guarantor for someone else's loan.
How can you mitigate risks for the guarantor?
There are a few ways that can help reduce the burden on your guarantor. These include:
- Not taking out a new mortgage until the home loan has been reduced or has been removed completely.
- Releasing the guarantee as early as possible.
You can call us on 1300 889 743 or fill in our free online assessment form to get more information on this.
) [2227] => stdClass Object ( [post_id] => 450 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Not sure whether you’ll get approval for a home loan?
Call 1300 889 743 or enquire online and one of our specialist brokers can tell you which lenders can finance your luxury property.
) [2228] => stdClass Object ( [post_id] => 32752 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in this free assessment form to speak with one of our business loan specialists.
We can help put together a business loan package with the features you need so you can best manage your finances and get on with running your business.
) [2229] => stdClass Object ( [post_id] => 44415 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We know which lenders take a common-sense approach to borrowers that earn Uber driver income on the side or operate full-time as a self-employed rideshare driver.
Call us today on 1300 889 743 or fill in our online enquiry form and tell us about your situation.
We'll come back to you with some home loan options so you can start your home buying journey.
) [2230] => stdClass Object ( [post_id] => 3847 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Because of the nature of buying a property below market value, banks will always order a valuation to confirm the property value and investigate the details of the favourable purchase to ensure that they're comfortable with the transaction.
Some lenders mortgage insurers used by the banks have policies that make it near impossible for you to borrow over 80% of the property value.
Thankfully, not all lenders and LMI providers have these policies.
If you need help getting your loan approved then please enquire online or call one of our mortgage brokers on 1300 889 743 to discuss your situation.
) [2231] => stdClass Object ( [post_id] => 2330 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Lenders assess commission income in different ways and require different forms of supporting documents as evidence.
Most lenders want to see a two-year track record so they can be sure your income is stable.
This isn’t a fair way to assess your mortgage application because many salespeople can choose to work harder to earn more or have had their income increase as they gain more experience.
However, not all lenders take this into account.
Complete our free assessment form to find out how you can make your commission income count or contact us today on 1300 889 743 to discuss your situation with a specialist mortgage broker.
) [2232] => stdClass Object ( [post_id] => 49905 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Are you looking to buy off-market - We can help!
Buying off-market is a much quicker process as such you should have your home loan pre-approved and ready to go.
Get a free no-obligation assessment from one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our online enquiry form today to get pre-approved.
) [2233] => stdClass Object ( [post_id] => 1887 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>As a general rule, the more documents you can provide to prove your income and the larger your deposit, the cheaper the loan you can obtain.
If you have a large enough deposit to borrow 80% of the property value or less then, as a general rule, your loan will have an excellent interest rate. Contact us on 1300 889 743 or enquire online to speak to an expert mortgage broker who can help you with your application.
) [2234] => stdClass Object ( [post_id] => 48774 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>What’s the key to getting approved while on maternity leave?
The key to getting approved while on maternity leave is to apply with the right lender.
Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online enquiry form to find out if you qualify with one of our 50 lenders.
) [2235] => stdClass Object ( [post_id] => 14659 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Many lenders have Equifax's score feed directly into their own scorecard that they use to assess loan applications.
Others ignore the Equifax Score and just use the data from your credit file.
Whilst your score with Equifax will not be the only factor that the lender considers, it will make a big difference to the lender's own credit score and the outcome of your application.
If this may be a problem for you then you can consider:
- Using our credit score calculator to identify the problems with your situation.
- Reading about lenders that don't credit score.
- Calling us on 1300 889 743 or completing our free assessment form so that one of our mortgage brokers can assist you.
) [2236] => stdClass Object ( [post_id] => 31108 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Before you decide to become a guarantor for someone, you need to consider:
- Your financial situation: Are you fully aware of your financial situation and that of the borrower you’re going guarantor for? The last thing that you would need is to pay off someone else’s mortgage.
- Your relationship with the borrower: The closer you are with the person you’re guaranteeing, the better chance you have of recovering your money if anything does happen.
- Your ability to make repayments: It’s essential to ensure that you can cover monthly repayments before you commit to the loan. If you need outside help to cover these costs then you may need to reconsider your decision.
- The loan size: You can further reduce the risk exposure to your security by making sure that the loan doesn’t exceed more than 90% of the property value.
- Getting professional advice: It’s recommended that you speak with a professional to obtain independent legal and financial advice. This can help you understand how it will affect your financial situation.
If you’re still not sure about becoming someone’s guarantor, speak with one of our brokers specialising in guarantor home loans. You can call them on 1300 889 743 or complete our free online assessment form and find out if going guarantor is right for you.
) [2237] => stdClass Object ( [post_id] => 13182 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Choosing the right bank for each product
If you have a range of home, business and investment requirement that need to be taken care of then it is rare that this can all be provided by just one bank.
In most cases, you may be better off dealing with a range of banks as one may be the right choice for your commercial loans while another is better for your equipment finance or home loan.
Lending Policy
Each bank has its own lending policies and its own view of which loans, properties and business activities are high or low risk. As a result of this we often find it beneficial to match different commercial properties or investments with loans from different banks, depending on the needs of our clients.
While there is some room for banks to negotiate their lending policies with you, in most cases it makes more sense to go with a bank that can give you exactly what you need.
Risk Management
There is a big risk in tying up all of your properties and business in one bank.
If you ever experience financial hardship then they have complete control over your situation. It is wise to consider separating your business and personal debts to reduce this risk. In many cases it is also wise not to cross-securitise your investment properties with your home.
It is common for a bank to carry out an annual review of your commercial loans, decide that they are no longer happy with their security position and then to give you 30 days to pay down your debt. If your home is security for a loan with that bank then your home is at risk!
Residential property is much easier for a bank to sell rather than a commercial property or a business. If your home is used as security for a commercial debt then the loan is not regulated under the NCCP Act and the bank can bypass many of the government laws regarding hardship provisions.
Existing Customer Pricing
Most businesses give their loyal customers the best discounts. This is certainly not the case in the banking industry!
Once you have more than four products (e.g. a cheque account, home loan, commercial loan and a credit card) with one bank then that bank knows that you are very unlikely to leave. It's simply too much trouble to switch everything over. This is particularly true if the bank also provides you with wealth management, financial advice and international services.
Our high-net-worth client package involves strategies to make sure that you continue to receive the discounts that the banks are offering their new clients, without the need to refinance your loans to another bank.
Please call us on 1300 889 743 or enquire for free online and one of our mortgage brokers will call you to discuss your needs.
) [2238] => stdClass Object ( [post_id] => 69888 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our expert mortgage brokers know which lenders will waive LMI for you. Contact us at 1300 889 743 or fill in our online assessment form and we will help you find the perfect home loan.
) [2239] => stdClass Object ( [post_id] => 458 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>The commodities boom has caused house prices to rise rapidly all through regional Queensland as well as coastal areas of Western Australia such as Bunbury, Geraldton and Karratha.
As a general rule, we can finance houses in any town in Australia as long as there is demand for housing.
Some common mining areas we finance are:
- Galilee Basin QLD (Adani's Carmichael coal mine)
- Hunter Valley NSW
- Bowen Basin QLD
- La Trobe Valley VIC
- Goldfields WA
- Pilbara WA
- The West Coast of TAS
Some specific mining towns we receive applications to finance are:
- Singleton NSW (Coal)
- Muswellbrook NSW (Coal)
- Hay Point QLD (Coal)
- Gladstone QLD (Coal, Alumina, Aluminium, Cement products & Liquid ammonia)
- Mount Isa QLD (Copper, Silver, Lead & Zinc)
- Moranbah QLD (Coal)
- Dysart QLD (Coal)
- Middlemount QLD (Coal)
- Blackwater QLD (Coal)
- Emerald QLD (Coal)
- Capella QLD (Coal)
- Clermont QLD (Coal)
- Biloela QLD (Coal)
- Moura QLD (Coal)
- Baralaba QLD (Coal)
- Karratha WA (Iron ore, Sea salt mining, Ammonia exports, Petroleum & Natural Gas)
- Geraldton WA (Iron ore, Nickel, Gold, Oil, Gas, Mineral sands, Copper, Zinc, Lead concentrate, Talc & Garnet)
- Port Hedland WA (Iron ore, Offshore natural gas & Manganese)
- Dundas TAS (Silver, Lead & Minerals)
- Zeehan TAS (Silver, Lead & Minerals)
- Adavale
- Alpha
- Augathella
- Aramac
- Barcaldine
- Blackall
- Charleville
- Hughenden
- Jericho
- Middleton
- Muttaburra
- Richmond
- Tambo
- Torrens Creek
Please contact us on 1300 889 743 or enquire online if you are not sure about your location.
) [2240] => stdClass Object ( [post_id] => 19347 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>B&Bs or guesthouses usually offer amazing views in idyllic locations away from the city.
It's little wonder that some people like to buy former B&Bs as their very own holiday home.
Whether you're buying it to live in or to rent it out during parts of the year, you can actually borrow up to 90-95% of the property value or up to 100% using a guarantor.
The trick to getting approved is largely in the valuation and requesting that the valuer disregard so-called "highest and best use".
B&Bs naturally have a higher valuation attached to them due to their income-producing capabilities.
If the valuer were to ignore highest and best use, the final valuation would come in lower.
That means you'd have to decide whether coming up with a larger deposit is worth the savings of getting a residential interest rate over a commercial rate.
Speak to your mortgage broker and they can run through some calculations with you.
Call 1300 889 743 or fill in our free assessment form today.
) [2241] => stdClass Object ( [post_id] => 28006 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>It’s hard to say at the moment. Certainly, many banks are making it tougher for investors to get a loan so LVR caps on postcodes may be the next logical step.
What may happen is that banks may charge some kind of risk premium for borrowers wanting to purchase in particular suburbs or banks may make it tougher to qualify for an interest only loan.
Of course, further tightening of lending policies really depends on how the Australian property market travels in the next few months.
Can’t wait that long?
If you’re looking to buy a property in one of NAB bank's high risk suburbs or you’re simply not sure whether your particular property will be accepted as security for a home loan, call us on 1300 889 743 or complete our free assessment form today.
We’re credit specialists that have a thorough knowledge of lending requirements regarding property type and location.
) [2242] => stdClass Object ( [post_id] => 44698 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>In most cases, there is no fee applicable to use our services.
However, depending on the complexity and nature of your situation, a service fee may be payable on approval of your loan.
In case we decline to take on your loan or your loan is declined by the bank, then we don’t charge you a fee for our services.
Please call us on 1300 889 743 or enquire online to speak with one of our bad credit mortgage brokers and find out how we can help you get approved for a bad credit mortgage.
[wbcr_snippet id="73741"] ) [2243] => stdClass Object ( [post_id] => 32507 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Some lenders just don't understand business customers and will really dig in their heels when it comes to budging on the business loan term sheet. However, not all lenders are the equal and they all have different risk appetites. Not all mortgage brokers are the same either! We can help present your application in a positive light so it highlights your strengths as a business owner who is on top of their financial commitments including repayments. Call us on 1300 889 743 or complete our free assessment form to discover how much we can save you on your business loan. We're business and commercial loan specialists! ) [2244] => stdClass Object ( [post_id] => 27216 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Most lenders turn away subcontractor home loan applicants with a bad credit history.
However, not all will make such a hasty decision. If you can meet certain requirements, specialist or non-bank lenders will consider:
- Defaults or judgments.
- Subcontractors who are discharged bankrupt.
- Subcontractors on a Part IX agreement.
- Subcontractors with a low credit rating.
- Subcontractors who have missed payments on any existing mortgages.
These lenders take a much more-common sense approach, weighing up your strength as a borrower carefully rather than relying entirely on an automated pre-approval system.
Get in touch with one of our bad credit specialists by filling in our free assessment form or by calling 1300 889 743 and discuss your options today!
) [2245] => stdClass Object ( [post_id] => 32303 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => From getting your finances in order to guiding you through settlement and beyond, the mortgage brokers at Home Loan Experts are here to help. Overall, we understand your long-term goals and focus on all factors to get you the right investment loan for your first investment property. Call Home Loan Experts on 1300 889 743 or complete our free online assessment form today. ) [2246] => stdClass Object ( [post_id] => 23440 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>What does each CCR code mean?
The codes are set out under the Australian Credit Reporting Standards (ARCA) and are a quick way for lenders to scan your repayment history.
The scores are explained below:
- O: Account paid on time
- 1: 0-29 days overdue
- 2: 30-50 days overdue
- 3: 60-89 days overdue
- 4: 90-119 days overdue
- 5: 120-149 days overdue
- 6: 150-179 days overdue
- X: 180+ days overdue
- C: ‘Account is closed’
- A: ‘Not associated’
- R: ‘Not reported’ – the bank or credit provider didn’t provide payment history for this period, which is a fault with the credit provider, not necessarily you as an account holder.
- P: ‘Pending’ – purchases made with a credit or debit card that are pending (for up to 5 days) but have been deducted from your available funds until the merchant finalises the payment.
- O: ‘Other’
- T: ‘Transferred’ – a balance transfer of your debt with one lender to another usually to save on interest repayments on a credit card or store card.
Why introduce positive credit reporting?
Believe it or not, comprehensive credit reporting isn’t a new thing.
There have been many studies undertaken to support the benefits of positive credit reporting since the introduction of the Commonwealth Privacy Act 1988.
Besides, most other developed nations, such as the United States, already employ CCR to better screen potential borrowers.
The Australian Retail Credit Association (ARCA) had long been demanding change to the previous “negative” credit reporting regime in Australia.
Comprehensive credit reporting – Timeline
Timeline of the implementation of comprehensive credit reporting in Australia:
- 1988: The Privacy Act was enacted to promote and protect the privacy of individuals. Among other things, the Act also regulates consumer credit reporting in Australia. It only allowed negative credit reporting in the country.
- 12 March 2014: The Privacy Act was amended to allow sharing of comprehensive (positive) information about Australians’ credit history. It was mostly optional and was not widely adopted by banks as they wanted to hold on to their data.
- 2 November 2017: Australian government mandated the implementation of comprehensive credit reporting (CCR) for the Big Four banks.
- 1 July 2018: Big Four banks mandated to share 50% of credit data within 90 days.
- 30 September 2018: 90 days from 1 July, Big Four banks required to provide 50% of credit data of their choosing.
- 1 July 2019: Big Four mandated to share the remaining 50% of their credit data within 90 days.
- 30 September 2019: 90 days from 1 July 2019, the deadline to share the remaining 50% of the remaining data ends.
- 1 April 2020: Large ADIs (Authorised Deposit-taking Institutions) mandated to share 50% of their data within 90 days.
- 30 June 2020: Deadline for sharing 50% of ADIs data ends.
- 1 April 2021: Large ADIs mandated to share the remaining 50% of their data within 90 days.
- 30 June 2021: The deadline to share all credit data ends. CCR is fully rolled out.
*The Big Four refers to ANZ, CBA, NAB and Westpac.
**Large ADIs refer to financial institutions with residential assets over $100 Billion average over 3 years. It includes banks (Macquarie), credit unions (CUA), and foreign subsidiary banks (HSBC, Citi etc.).
Apply for a home loan today
If you’ve been thinking about getting a home loan, call us today for a free, no-obligation assessment.
Most importantly, we can properly assess your situation and find lenders that will accept your case and offer you a competitive home loan package complete with a great interest rate.
Get in touch with us by filling in our free assessment form or by calling 1300 889 743 today.
[wbcr_snippet id="75310"] ) [2247] => stdClass Object ( [post_id] => 35885 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Refurbishment loans are typical with shopfitting projects and will usually cover the following:
- Lighting, electrical work and fittings.
- Benches and finishes.
- Tiling and floor coverings.
- Security systems.
- Bolted-down or heavy appliances like dishwashers.
- Signage.
- Kitchen and cabinet installations.
- Bathroom installations.
- IT infrastructure including cabling.
- Internal walls and screens (excluding load-bearing walls).
What isn't covered?
There's a fine line between fit-out work and buying equipment, machinery and appliances.
If you work in a cafe, for example, the fit-loan will cover the costs of cabinet and kitchen installations, workbenches and counters.
However, it won't cover the costs of coffee machines, cash registers and industrial fridges.
This type of equipment will fall under asset and equipment finance.
This means that it requires a separate loan facility so you should speak to your mortgage broker about "spreading your risk" so you're not overly exposed with one lender.
Having multiple business and even residential loan facilities with the one lender puts you in a high-risk category in the lender's eyes.
As a result, you may not be able to get approved for finance in the future.
The same goes if you have an existing overdraft facility and line of credit: it's about not having all of your eggs in one basket.
We can compare fit-out loans from a number of different banks and lenders so you can avoid exceeding bank mortgage exposure limits and borrow the amount you need at a competitive interest rate and strong terms.
Give us a call on 1300 889 743 or complete our free assessment form to discuss your business needs with one of our mortgage brokers.
) [2248] => stdClass Object ( [post_id] => 64759 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => A range of factors determines the best way to weigh your finances and home loan needs. Home loans’ features vary, so when selecting a home loan, you should speak with one of our expert mortgage brokers to get the one that best suits your circumstances. Our specialist mortgage brokers can help you determine the right option for your needs after a full assessment. Please give us a call on 1300 889 743 or complete our free assessment form today to discuss your needs. ) [2249] => stdClass Object ( [post_id] => 32892 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Borrowing through your SMSF can be a minefield, and it's easy to make mistakes. This is where an experienced mortgage broker can really help you get your loan across the line.
While the number of lenders operating in this space has shrunk significantly, it's still a growth sector, and it's expected to grow even stronger in the future.
To maximise your chances of getting your SMSF loan approved, our brokers can help by:
- Advising you on how much you can potentially borrow.
- Advising you on how much you need to put into your SMSF to be able to buy a property.
- Guiding you and giving you a game plan to work towards so you can fast track your SMSF loan.
- Discussing with you the kind of properties the bank will lend to and those that they reject. For example, some banks may have lower LVR for off-the-plan and new properties. We know what banks are looking for regarding location and size.
- Last two years' financial statements (Profit & loss and balance sheet).
- Last two years' business tax returns.
- Last two years' personal tax returns.
- Last two years' notices of assessment.
- Extra superannuation contributions.
- Losses carried forward from prior years.
- Negative gearing deductions from your investment properties.
- One off expenses such as moving your business or a lawsuit.
- Instant asset write-offs (e.g. the special $30,000 instant write-off in 2019).
- Trust distributions to family members for tax purposes.
- Depreciation.
- Speak with your financial advisor and lawyer before signing the contract or paying your deposit.
- Before signing, it's also crucial that you speak to your mortgage broker about getting pre-approval for a SumoSalad franchise loan. You could actually risk losing your deposit otherwise.
- Provide documents that you're currently employed like your recent payslips or employment contract.
- Try to save for a larger deposit of at least 20% of the property value so you do not have to pay Lenders Mortgage Insurance.
- Ensure you have savings to cover repayments for at least 3 to 6 months.
- Provide adequate reason for the change in the job. Most lenders are unlikely to approve if you've been terminated from the previous job without acceptable reasons.
- Try to keep your credit file clear of any blemishes like missed payments, late payments, etc. to demonstrate that you're a responsible borrower.
- If possible, try to find work in the same industry or if you're in a new industry, that you're using the same skills in your new job.
- As long as your income can be proven, we know lenders who can assist you.
- Knowledge is power: Sites like domain.com.au and realestate.com.au are a great place to start researching but move on to RPData and Residex once you've narrowed down your property selections.
- A bad agent is your best friend: A bad agent will undersell the property and even tell you how much the vendor is actually willing to sell for - almost always it’s below the advertised price!
- Don't be afraid to walk away: Set yourself a budget, make offers on 3 or 4 other properties, don't become emotionally attached and, who knows, the vendor may be more than willing to drive a harder bargain.
- Don't let good agents push you around: Skilled agents will usually tell you that there are other parties interested in the house - sometimes there is, sometimes there isn't, so to find out the truth, grill them about what these "other parties" have offered and what the vendor's response was.
- Know when to make an offer: Never make the first offer and if you're really sure this is a property you want, sweeten the deal with a larger upfront deposit and work with your conveyancer and the broker to get a quick settlement.
- Make sure the agent is licensed in your state.
- Make appointments to interview at least three agents and compare their market appraisals for their last few deals.
- Fix for up to 15 years.
- Switch back to principal and interest at any time.
- Make extra repayments with no limitations.
- Great professional package discounts are available.
- Lenders are tightening their policy on equity release (cashouts).
- We know what lender is offer what deal and what they require. As such, we can find you the right lender and structure the application in such a way so that we can get you a straightforward approval.
- The interest rates are the lowest they’ve ever been in the history of Australia.
- You can also potentially get refinance rebates with an equity release.
- We can order free upfront valuation for your properties.
- Legal personal representative, trustee, beneficiaries of the deceased.
- Surviving joint tenants
- Special disability trust
- First, we try to find a lender from our panel of more than 50 lenders that can do it within standard policy.
- If no lender can do it then we try to get one to make an exception to its policy.
- If no lender can make an exception to the policy then we try to change the customer’s situation. For example, getting them to buy a cheaper home and cancel their credit cards.
- Finally, if a change in situation is not possible then we’ll tell you what you need to do to qualify in the future and follow up with you.
- Refinance your properties to release equity in case of emergencies (usually the cheapest option).
- Seek a business loan (more expensive).
- Consolidate your debts to lower your repayments.
- Switch your loans to have interest only repayments.
- If things are really bad, then a credit mediation firm can be engaged to assist you to negotiate hardship. provisions with your existing lenders.
- Work on improving your partner’s credit score.
- Wait for the adverse listing(s) to fall off your credit file.
- Save up a bigger deposit.
- Show stable employment and income.
- Avoid adding more credit enquiries to your credit file.
- Consolidate your debt into your mortgage to help you better manage your financial commitments.
- If applicable, swtiching from a variable rate to a fixed rate to provide you with more certainty with your repayments.
- You are paying your rent on time (if you're renting).
- Both applicants must have stable employment.
- Your credit history is free of any defaults or adverse listings and does not have too many credit enquiries.
- You have an excellent credit score.
- You don't have too many consumer debts such as credit cards and personal loans.
- You can afford the debt comfortably – note that you’re not allowed to borrow to your limit.
- Purchase or construction of an investment property
- Vacant land
- Properties exceeding 2.2 hectares
- Renovations
- Refinancing an existing mortgage
- Debt consolidation
- Equity release (cash out)
- Borrowed funds such as personal loans, credit cards or loans from family (gifts are acceptable)
- Australian expats do not qualify but do qualify for the same interest rates as Australian citizens
- Lines of credit are not available
- LMI: Use our LMI calculator to find out which of the lenders on our panel with charge you the lowest premium.
- Stamp duty.
- Conveyancing fees.
- Home loan start-up costs.
- It compares three banks in one go.
- It uses the actual calculation methods the lenders’ credit departments use.
- It can change the loan structure to work out your maximum borrowing power.
- It takes into account advanced features such as fixed rates, negative gearing, interest-only periods and your family size.
- Make the entire end-to-end process simpler for you.
- Make finding a property easier with suburb reports, and property reports of your choosing;
- Order a free upfront valuation; and
- Help you through settlement and beyond.
- The Home Guarantee Scheme involves a guarantor scheme where the government guarantees loans so eligible home buyers avoid paying Lenders Mortgage Insurance (LMI), even with a deposit as low as 2% of the property value. There are three different schemes as part of the Home Guarantee Scheme:
- The Help to Buy Scheme is a shared-equity scheme wherein the government helps first-home buyers purchase a home by contributing up to 40% of the property price for a new home and up to 30% for an existing one.
- Fire & Rescue NSW (FSNSW)
- ACT Fire and Rescue (ACTFR)
- Fire Rescue Victoria (FRV)
- Queensland Fire and Emergency Services (QFES)
- Tasmania Fire Service (TFS)
- SA Metropolitan Fire Service (MFS) or SA Country Fire Service (CFS)
- Northern Territory Fire and Rescue Service (NTFRS)
- Department of Fire & Emergency Services (Western Australia)
- You aren’t borrowing more than 80% LVR.
- Your credit file is clear of any bad credit records such as defaults.
- You have a good income and stable employment. The level of income may depend on the lender you go with.
- The security property isn’t an unusual or specialised property type, and is in a good location.
- You don’t need to set up a company in Australia or buy with a citizen.
- Government approval for foreign citizens is simple although additional taxes apply. Read about the rules below.
- Specialist mortgage brokers can assist you to qualify for a foreigner mortgage.
- There’s strong and effective consumer protection legislation in Australia through the National Consumer Credit Protection Act 2009 (NCCP Act).
- Australia’s legal system is based on the UK system just like Hong Kong or Singapore so it’s familiar to many overseas investors.
- There’s minimal political, social or economic instability in Australia.
- Queensland (QLD) is famous for its wonderful beaches and reefs.
- Victoria (VIC) has a stunning coastline stretching to South Australia (SA).
- The Northern Territory (NT) is renowned for its distinctive outback experience.
- New South Wales (NSW) for the tranquil Blue Mountains, beautiful coast, strong economy and Sydney.
- Many Australian universities are making a name for themselves overseas.
- 80% of the total cost of land and construction.
- Home loans for participants (Bank LVR: 60% to 80%) (Shared equity LVR: 100%)
- Investment loans for family, friends or value-aligned investors. (LVR between 60% to 80%)
- Shared equity loans for participants and families. (LVR between 60% to 70%)
- Commercial loans for Community Housing Providers (CHPs) and other SDA providers. (LVR between 60% to 70% depending on valuation methodology and risk analysis)
- Have a permanent disability that significantly affects the ability to take part in daily activities.
- Be aged less than 65 years when entering NDIS. (An NDIS participant must be between the ages of 7 and 65).
- Be an Australian citizen, or hold a permanent visa or Protected Category Visa.
- Be living in Australia where NDIS is available.
- Small Paid Default: With defaults under $500 paid over six months ago, you could borrow up to 90% LVR, or in some strong cases, up to 95% of the property value.
- Multiple Small Paid Defaults: If you have under $1,000 in paid defaults from financial institutions (like banks), and under $500 from non-financial institutions (like phone companies), you might be able to borrow up to 85%, or possibly 90%, of the property's value.
- Moderate Paid Defaults: With up to $3,000 in paid defaults, borrowing options can vary. You could borrow up to 80% of the property value with a prime lender, up to 90% with a specialist lender, or even up to 100% with a security guarantee from your parents.
- Large Paid Defaults: For larger paid defaults ranging from $3,000 to $500,000, options are assessed on a case-by-case basis. A strong explanation and solid evidence can lead to borrowing up to 90% of the property value with a specialist lender.
- Unpaid Defaults: If you have any unpaid defaults, you can borrow up to 90% of the property value with a non-conforming lender, though many will require the defaults to be paid before approving the loan.
- Judgements Or Court Writs: If you have any judgements or court writs, then you can borrow up to 90% of the property value with a non-conforming lender.
- Part IX Agreement And Bankruptcy: For specific guidance related to a Part IX agreement or bankruptcy, please refer to our detailed pages on these topics.
- If you’re a dual citizen or married to a US citizen, some lenders may treat you as a foreigner, which means choosing a lender that favours expats is essential to getting approved.
- If you’re earning US dollars, but you can’t provide sufficient documents to prove your foreign income, such as recent payslips or tax returns, then you may be limited to borrowing up to 80% of the property value.
- Some banks require a Power Of Attorney (POA) in the name of a solicitor or family member.
- Doctors, lawyers and accountants usually qualify for waived LMI.
- People working in these professions rarely default on their repayments and are high-income earners.
- Payslips
- Group certificates
- A Letter from your employer or
- Bank statements
Choose Your Path: Apply directly with a participating lender or get help from a mortgage broker.
Get Assessed: The lender or broker will assess your eligibility for the scheme, along with considerations such as serviceability and credit checks.
Reserve Your Spot: A lender or mortgage broker reserves a slot for you in the First Home Guarantee for 14 days, and this cannot be extended.
Submit Application: Submit the application within 14 days and await conditional eligibility assessment to proceed to a certified guarantee.
Conditional Approval: Upon pre-approval of the loan, you'll have 90 days to return a signed and dated contract (extensions may be considered for property search).
- Your loan is for no more than 80% of the property value.
- You can provide evidence that you now pay your bills on time, e.g. a rental history.
- You can provide evidence that the bankruptcy was a one-off event that wasn't your fault.
- You've been discharged for a particular period of time, e.g. one year or more.
- Make sure you have all the necessary documents ready to prove your income.
- Check out the best available Australian interest rates for foreign investors.
- Most lenders will require you to be identified at an Australian consulate.
- Some lenders may also require you to have a mailing address in Australia. An alternative to this is to have someone who holds a Power of Attorney (POA) and resides in Australia.
- Consolidate your debt into your mortgage to help you better manage your financial commitments.
- If applicable, swtiching from a variable rate to a fixed rate to provide you with more certainty with your repayments.
- Find the most suitable loan options for your situation.
- Guide you step-by-step to ensure everything aligns perfectly.
- You have 5% to 10% in genuine savings.
- You have equity in other properties, in case this isn’t your first investment property and you’re borrowing over 90% LVR.
- You have a great credit history and credit score.
- You have a stable employment.
- Aspects of your financial situation such as if you’re self employed.
- The LVR of your portfolio.
- The types of properties in your portfolio such as inner city units.
- They’re in financial hardship: This could be due to a life event like an injury preventing them from working or the death of a spouse reducing the household income.
- They’re reaching retirement: It may be that over the years the mortgage has been refinanced to purchase an investment property or to go on family holidays. Your parents simply may not be able to pay off the home before they reach retirement.
- They’re living abroad: Perhaps they’re travelling a lot or living abroad a lot of the time and were planning on selling the property to you as a favourable purchase anyway.
The second job needs to be in the same line of work so a role as a tutor will typically be accepted.
Some lenders will accept 100% of your income if you can show that you have a 6- to 12-month work history and have been earning a regular income.
If you’re self-employed, you need to have been working for at least 2-3 years and provide your tax returns, Notices of Assessment (NOAs) and an accountant’s letter to verify your income.
Some lenders will consider approval with less than three months’ work history if you’re in a strong financial position with a clear credit history.
It’s best to provide all of your income evidence from both roles, including payslips and tax returns, up front.
- You’ll need to prove that you have the funds to pay out your partner if there isn’t sufficient equity in the property. This is just like a loan for a purchase.
- Unlike a purchase, you don’t need to prove any genuine savings.
- You must have a good repayment history on your current home loan, which is the same as if you were applying for a loan to refinance a property.
- Three months' worth of bank statements, with the latest statement being less than 60 days from settlement.
- A figure which details your existing loan amount.
- Completed loan documents with updated loan figure.
- Attentive and selflessly aiming for client’s satisfaction
- Diligent and able to follow-up on time
- Confident about their options and methods of work
- Empathetic and ensuring that client is stress-free and understands the whole process
- Patient in answering the client queries
- Fluent in industry knowledge and great at communicating them
- Equipped to provide post-settlement services and keep the clients updated about better offers
- Methodical approach to work that avoids errors and hassle
- We work with over 50 lenders and are experts in the credit policies of each lender. Since one of our niches is to crack unusual cases, we are great at resolving cases of bad credit, foreign nationals, Australian Expats, low doc etc.
- We have won several awards, as a testament to the kind of work we do. In 2020, we won the Major Brokerage of the Year- Non Franchise ( Australian Broking Awards 2020) and Best Independent Office ( Better Business Awards ). Our brokers have won numerous awards themselves over the years.
- Our dedicated customer care team will continue providing you service, even after your loan has settled! We send you free annual reviews, post loan settlement, to inform you about better interest-rates in the market. We make sure that you do not lose on any available discount!
- We provide a free upfront valuation report to ensure that your property meets the bank’s lending criteria. Furthermore, we provide you a copy of your credit file so that you know exactly where you stand with the banks.
- We are not owned by any bank and work independently to prioritize customer well-being. You will not have to worry about any conflicts of interest arising with us. However, we have excellent relationships with our lenders and can provide sharp rates.
- Banks typically value the property as one block not two even though your subdivision is approved.
- Many lenders would consider this to be a development loan and would therefore charge a higher interest rate.
- You can’t usually borrow based on the ‘on completion value’.
- Most lenders won’t lend you the funds to pay for the additional costs such as council approval and subdivision expenses.
- Duplexes
- Four units on one title
- Granny flats
- Weekenders / holiday homes
- Small developments
- A copy of your building contract / construction tender
- A copy of the stamped council approved plans (or draft plans)
- Specifications / schedule of finishes
- Construction certificate (NSW) or building permit (VIC)
- Builder's insurance
- Builder's risk insurance / public risk insurance
- Cash flow forecasts.
- Who will be running the funeral home and why they’re qualified.
- How many staff you will be hiring.
- SWOT analysis including competitor research.
- Your marketing strategy.
- The trust deed is more complicated and the bank needs more experienced staff to assess the document properly and confirm that the trust is allowed to borrow money.
- Many banks computer systems are not set up to process unit trust loans.
- Unit trust loans are less profitable for banks than normal home loans because of the additional paperwork. For this reason, they avoid them altogether.
- Accountant error: In this case, more lenders will be accessible to you since this shows irresponsibility on someone else’s part and not yours.
- Tax returns not lodged: If you have not lodged your tax returns on time then banks will perceive you to be less reliable with your commitments and will take this into consideration while they evaluate your loan application.
- Large Capital Gains Tax (CGT) bill: A borrower with a debt due to a CGT event (i.e. tax on profit resulting from the sale of a property) is viewed more favourably than those who have not attempted to pay the tax at all. It is usually a one-off event as opposed to an on-going issue, and thus the lenders are more forgiving.
- Finding you a lender that can consider your low credit score.
- Helping you ‘prepare to buy’ by assessing your situation in full and recommending actions you can take to qualify in the near future.
- Your most recent group certificate or tax return.
- A letter from your employer.
- Other evidence of your sales targets and sales results covering no less than 3 months.
- Two years tax returns and notices of assessment (the lender will average the two years income).
- A letter from your employer confirming that you receive regular commission income.
- We can order a free valuation upfront.
- We know which lenders are lenient with debt consolidation.
- We know which lenders can accept missed payments and impaired credit (a higher interest rate will apply).
- If you’re currently looking to buy a home but unsure about how much you can spend, get pre-approved.
- Use our borrowing power calculator to get an estimate of how much you can borrow.
- If you’re a first home buyer, take advantage of the various government schemes and grants like the First Home Loan Deposit Scheme, stamp duty exemptions and First Home Owners Grant.
- Saving for a 20% home deposit is an indication to the lender that you are financially responsible and serious about getting approved for a home loan. However, with rising property prices, there are low deposit home loan options available.
- If your parents own property in Australia, having a guarantor allows you to borrow up to 105% of the property value. You don’t need to save for a large deposit.
- Take note of your credit score as lenders will look at your credit file to ensure you can make mortgage repayments at the interest offered.
- Ideally, you should be in your job for at least 6 months before applying for a home loan.
- Ask your friends and family members for referrals
- Real-estate professionals might have some amid their contacts
- There might be investors that are looking for an unconventional opportunity
- Take the help of a mortgage broker.
- They often get your income incorrect, in particular, if you receive allowances and overtime.
- They forget that you can cancel additional payments to super.
- They have no idea what salary packaging is!
- They miscalculate your annual pay from your YTD income.
- Debtor finance: Some lenders will allow you to borrow up to 90% of outstanding customer invoices if you're a low risk borrower with strong business cash flow.
- Unsecured overdraft: At least one of our lenders offers unsecured overdrafts of up to $50,000.
- Equipment/motor vehicle finance: In this situation, you're actually lending against the value of the equipment but you can actually get a preapproved limit of up to $100,000 just by providing an invoice of the equipment you've purchased.
- Apply with the right lender: The first mistake that most people make is to approach their current bank to get a business loan. The key to getting a low rate is to find a lender that will assess your commercial loan as a home loan. This can reduce the interest rate payable by as much as 1% to 2%!
- Use your equity in residential property: Residential property such as a house, unit or block of land is excellent security for a loan. It can be accurately valued and sold quickly in the event of a default. Commercial properties are difficult to value and take a long time to sell, therefore tend to have higher interest rates.
- Use 100% secured loans: If your loan isn't completely secured then the rate will be much higher or the loan may be declined. If you're borrowing more than 90% of a residential property or 70% of a commercial property then your loan poses a very high risk. We can only assist with secured business loans.
- Refinancing your home loan: You can refinance your home loan with the same lender or move to a different lender that will give you a better deal. If your new home loan gives you a better interest rate or more features, you may save on your interest repayments. Learn more about the benefits of refinancing your home loan here.
- Timing: When the RBA increases or decreases the cash rate, lenders usually forewarn their clients that the rate on their loan will soon change. Thus, you could opt to split your loan or make extra repayments if available from your lender, to mitigate a forthcoming increase in the cash rate.
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- Lose the opportunity of buying your dream house
- Miss taking advantage of the falling property market
- Be priced out of properties in the near future that you can afford now
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- Discounted LMI premiums: A few lenders are starting to offer first home buyers a discount on their LMI premium.
- Insurance duty for NSW purchase: An LMI policy over the property in NSW is exempt from insurance duty provided that the premium for that policy was paid on or after 1st July 2017.
- Certain professions: Medical professionals, Accountants, Legal professionals, and Professional Athletes may qualify for No LMI loans when borrowing up to 90% of the property purchase price.
- 15% Deposit No LMI: If a single or couple’s combined taxable income is around $180,000, you may qualify for a No LMI loan if you have a deposit of at least 15% saved.
- Guarantor loans: By using your parent’s property to cover the 20% deposit, you may be able to borrow 100% of the property purchase price plus associated property costs and avoid paying any LMI.
- Remember to claim deductions for depreciation. As it is a non-cash deduction, many property investors miss out on this one.
- As the ATO considers rental income taxable income, make sure you claim the expenses of owning the home, to reduce the taxable amount.
- Know the difference between repairs and improvements, as they are taxed differently. Repairs and maintenance can be claimed in the year they were done; with improvements and renovations, you can claim deductions as they depreciate over time.
- Get the help and advice of a Quantity Surveyor to make sure depreciation is calculated properly.
- You can amend your previous years' tax returns if you’'ve missed any deductions.
- Find out about any upcoming infrastructure that could positively or negatively affect your property purchase over the long term.
- Speak to local sales agents and see if there are any off-market or coming onto the market properties, as you could be the first to see them.
- Remember to look at the long term trends and be confident in what you purchase.
- Talk with local sales agents in the area to find out which streets are desirable and have higher sales prices.
- Get pre-approved for a home loan so you know the ideal price range of the property you can afford.
- Besides the house deposit, there are other costs associated with buying a property like conveyancing fees, stamp duty, etc. You should know about these additional costs before making a purchase.
- Never purchase a property without conducting a pre-settlement inspection.
- Fairly competitive rate.
- No ongoing monthly or annual fees.
- Good option for people who already have an owner-occupied property and want to purchase an investment property. It’s cheaper and, at the end of the day, your aim in investing is to reduce your costs and maximise your return.
- You can’t make extra repayments.
- Really competitive rate.
- You get an offset and redraw facility.
- You’re eligible for insurance discounts.
- The major downside is an annual fee (usually around $395).
- IT
- Hospitality
- Mining
- Healthcare
- A small deposit size, as you want to buy more properties. We have lenders on our panel that can offer investment loans for more than 95% of the property value.
- Opting for interest-only repayments helps maximise your tax deductions and improve your cashflow.
- Some lenders restrict lending to investors with high borrowing power, as they have a Debt-to-Income Ratio (DTI) cap. However, we know lenders who can help with this.
- Lenders’ prices for investment loans vary a great deal from those for home loans. As your mortgage broker, we will shop around for lenders that can provide a competitive interest rate and meet your other needs.
- Tax benefits, negative gearing and depreciation can be complicated. Our mortgage brokers will take these factors into account to structure an investment loan so that it matches your needs.
- Use a black pen.
- Write clearly with block letters.
- Please include any former names or maiden names,
- Use your legal name as per your birth certificate or passport,
- The date you sign the form must be after the date on your contract of sale or building contract.
- If you are unsure of any questions then please call us to discuss, do not guess answers!
- If you make a mistake please cross it out neatly, write your correction next to that section and both you and your partner must initial the change.
- If you make a mistake on a QLD or VIC first home owners grant application then please reprint the page that you made the mistake on.
- Do not use white out!
- We know which banks accept heritage listed properties
- We know what documents and information they will require
- Our mortgage brokers are experts in getting tough loans approved
- Mortgage interest
- Repairs and maintenance
- Depreciation
- Property management fees
- Council rates
- Land tax
- Insurance premiums
- CBA - Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan
- Bank Of Melbourne - Advantage Package Investment Home Loan
- St. George - Standard Fixed Rate Investment Home Loan
- Bank Of SA - Standard Fixed Rate Investment Home Loan
- NAB - Business Options Interest Only Loan (Fixed Rate Interest In Advance)
- Westpac - Fixed Rate Investment Property Loans - Interest Only in Advance
- ANZ - Fixed Rate Interest in Advance Loans
- Borrow the maximum amount possible to still qualify for waived LMI
- Navigate the complex process through settlement and beyond
- Focus on your work, by taking care of the application process
- Get competitive interest rates and professional package benefits
- If you're just starting out, consider purchasing smaller, stand-alone retail shops or buildings that are strata title rather than large commercial real estate.
- When building a commercial portfolio, be weary of being too heavily-weighted in certain property types.
- Avoid buying a multi-tenanted block of units because the vacancy risk is considerable.
- Learn to identify opportunities by taking a risk, for example, an office block may not be worth much at the moment but a new freeway construction could see the property value skyrocket.
- Make sure the lease agreement is correct and you know exactly what your rights and responsibility are. Your solicitor and a buyers agent will help you to negotiate a lease that's fair for you but won't put off any potential tenants.
- Keep an eye out for infrastructure projects that are going ahead in the next few years. What type of business will they attract and do they match the commercial property you're looking to invest in?
- Infrastructure projects go hand in hand with the rollout of new suburbs, which also presents opportunities for child care centres and the need for aged care and health care facilities. As more families move in, it makes sense to invest in small offices in the area to match the desire of people to work closer to home. It also pushes up demand for shopping centres, retail stores and cafes.
- Review your tenants carefully including their financial strength. Ideally, you'll want to aim for so-called "blue chips" which are corporate and government tenants.
- You may have to offer a longer lease term in order to attract more potential tenants.
- Do some research and look at areas where lessees are paying under market rental. This will allow for improvement in the quality of tenants over time. This will help attract buyers who are willing to pay a premium for the property when you eventually decide to sell it for capital gain.
- Look into different ways that you can increase your commercial property value to attract tenants and potential buyers cheaply.
- Your income must be $120,000 or $150,000 depending on your state or territory including rental income (some exceptions apply).
- Your loan must not exceed 90% of the property value (90% LVR).
- You must provide a current practising certificate for your state or territory.
- Your credit history, employment and asset position must be within standard bank guidelines.
- Accountants, including actuaries, finance managers, and auditors.
- Legal professionals, including solicitors, barristers, and lawyers.
- Medical practitioners, such as dentists, vets, and doctors.
- Mining engineers, including surveyors, geologists, and geophysicists.
- Other high-income professionals may also qualify.
- 85% home loans with no LMI are available for most professions. Waived LMI up to 90% is available to select professionals only.
- Doctors are eligible to borrow up to 100% of the property value and avoid the cost of Lenders Mortgage Insurance (LMI).
- Lawyers, solicitors and barristers are eligible for waived LMI in some circumstances.
- Engineers, surveyors, mine surveyors, quantity surveyors, geologists and geophysicists who work in the mining or resource sector are eligible for waived LMI in some circumstances.
- Accountants, finance managers, auditors and actuaries are eligible for waived LMI in some circumstances. One major lender requires an accountant’s salary to be $150k per year to qualify for waived LMI; whereas, other lenders don’t require a certain income threshold.
- Loan deferral (repayment holiday or mortgage holiday)
- Mortgage freeze
- Waived fees and charges
- Loan term extension
- Loan restructure
- Temporary reductions in repayments
- Switching to interest-only repayments
- Refinancing to a lower interest rate
- Using the money from your offset or redraw account
- Releasing equity to give you cashflow
- Consolidating debt to make repayments manageable
- We know about the best rates, rebates and turnaround times from the 50-plus lenders on our panel, so we can recommend lenders based on your needs.
- Our expertise will save you time and effort; we’ll shortlist the lenders that are able to approve your loan, so you don’t have to search for yourself.
- We do a pre-assessment before lodging your application, greatly improving your chances of gaining approval and avoiding unsuccessful enquiries, which go onto your credit file.
- We educate you about product options and features available and the pros and cons of each one.
- We’ll monitor your rate and negotiate with the lender if a better deal is available.
- We’ll touch base with you when your fixed rate or interest-only period is about to expire and process an extension if required.
- When your credit report improves, we’ll work with your lender to switch you to a lower rate.
- We’ll assist you in processing construction progress payments. You can view our site here to learn how progress payments work.
- We’ll monitor the value of your property to help you make decisions about moving house or buying an investment property.
- We can make changes to your loan such as fixing the rate or changing the date or frequency of your repayments.
- Invoices
- Bank statements
- Only contract to one main employer.
- Work for an hourly or daily rate.
- Have no staff other than themselves.
- Have no major expenses.
- You’re a foreign citizen living overseas or temporary resident (See below for exemption for permanent residents, 309 visa, 820 visa, 444 visa, 405 visa, and 410 visa holders).
- You're buying residential property in the state of NSW. The surcharge doesn't apply to commercial property.
- You're applying with a partner who doesn't have Australian citizenship, PR, or the special NZ 444 visa, in which case they will have to pay stamp duty, but only on their portion.
- You signed the Contract of Sale after 21 June 2016, although this only applies to the stamp duty surcharge. A land tax surcharge also applies to purchases made from 1 January 2017.
- Please refer to the NSW Office of State Revenue website for more information.
- You're an Australian citizen.
- You're a permanent resident, NZ citizen on a special category 444 visa, or a holder of a 309 visa, 820 visa, 405 visa, or 410 visa (conditions apply; see below).
- You have lived in Australia for 200 days within the 12 months prior to exchanging contracts (paying the deposit and signing the contract). This does not need to be continuous; you can travel in and out of Australia.
- You will live in the property for 200 days within the 12 months after exchanging contracts. This must be continuous. As it is from the date of exchange, not from settlement, this will not apply to an off-the-plan purchase.
- Small Paid Default: With defaults under $500 paid over six months ago, you could borrow up to 90% LVR, or in some strong cases, up to 95% of the property value.
- Multiple Small Paid Defaults: If you have under $1,000 in paid defaults from financial institutions (like banks), and under $500 from non-financial institutions (like phone companies), you might be able to borrow up to 85%, or possibly 90%, of the property's value.
- Moderate Paid Defaults: With up to $3,000 in paid defaults, borrowing options can vary. You could borrow up to 80% of the property value with a prime lender, up to 90% with a specialist lender, or even up to 100% with a security guarantee from your parents.
- Large Paid Defaults: For larger paid defaults ranging from $3,000 to $500,000, options are assessed on a case-by-case basis. A strong explanation and solid evidence can lead to borrowing up to 90% of the property value with a specialist lender.
- Unpaid Defaults: If you have any unpaid defaults, you can borrow up to 90% of the property value with a non-conforming lender, though many will require the defaults to be paid before approving the loan.
- Judgements Or Court Writs: If you have any judgements or court writs, then you can borrow up to 90% of the property value with a non-conforming lender.
- Part IX Agreement And Bankruptcy: For specific guidance related to a Part IX agreement or bankruptcy, please refer to our detailed pages on these topics.
- Deposit has been held by the Builder, Developer or Real Estate Agent for more than 3 months.
- Deposit wasn't borrowed and we can prove that it was in your bank account prior to you paying your deposit.
Choose Your Path: Apply directly with a participating lender or get help from a mortgage broker.
Get Assessed: The lender or broker will assess your eligibility for the scheme, along with considerations such as serviceability and credit checks.
Reserve Your Spot: A lender or mortgage broker reserves a slot for you in the First Home Guarantee for 14 days, and this cannot be extended.
Submit Application: Submit the application within 14 days and await conditional eligibility assessment to proceed to a certified guarantee.
Conditional Approval: Upon pre-approval of the loan, you'll have 90 days to return a signed and dated contract (extensions may be considered for property search).
- Invoices
- Bank statements
- Only contract to one main employer.
- Work for an hourly or daily rate.
- Have no staff other than themselves.
- Have no major expenses.
- Refinancing your home loan: You can refinance your home loan with the same lender or move to a different lender that will give you a better deal. If your new home loan gives you a better interest rate or more features, you may save on your interest repayments. Learn more about the benefits of refinancing your home loan here.
- Timing: When the RBA increases or decreases the cash rate, lenders usually forewarn their clients that the rate on their loan will soon change. Thus, you could opt to split your loan or make extra repayments if available from your lender, to mitigate a forthcoming increase in the cash rate.
- Ask your friends and family members for referrals
- Real-estate professionals might have some amid their contacts
- There might be investors that are looking for an unconventional opportunity
- Take the help of a mortgage broker.
- You’ll need to prove that you have the funds to pay out your partner if there isn’t sufficient equity in the property. This is just like a loan for a purchase.
- Unlike a purchase, you don’t need to prove any genuine savings.
- You must have a good repayment history on your current home loan, which is the same as if you were applying for a loan to refinance a property.
- Interest expenses: We may be able to have a lender add back interest that you’ve tax deducted on any business or investment loans that you have.
- Trust distributions: Distributions made to family members via a discretionary trust can be added back with select lenders but it's usually on the condition that you can provide an accountants letter confirming that the beneficiaries are not financially dependent on this income.
- One off expenses: These costs may include motor vehicles or new tools and machinery that you need for your business. With an accountants letter confirming that this isn’t an ongoing cost, we may be able to add this back to your taxable income.
- Additional superannuation contributions: This refers to lump sum contributions to your super above minimum contribution requirements.
- Depreciation: Depreciation is a tax deduction, not an everyday expense so some lenders will add this back to your taxable income.
- Company car: If you have a car that is used by your business and yourself then it is likely that you have tax deducted many of the expenses associated with running a car. Lenders don’t add these costs back to your taxable income but they will often add in an extra $3,000 to $6,000 in income to compensate for this.
- Rental property expenses: Depreciation on your properties, management fees, repairs and other rental property deductions such as negative gearing can all be added back. Keep in mind that rental income is deducted from your income because lenders assess this separately to your main income.
- Net Profit Before Tax (NPBT): If you have profits that you have retained in your company then these can be taken into account as well. If you don’t own the entire company then lenders will assess your share of the net profit.
- Direct compliance or NCCP queries as well as compliments or complaints, to our Compliance Manager.
- Direct operational or process queries to our Operations Manager.
- 85% home loans with no LMI are available for most professions. Waived LMI up to 90% is available to select professionals only.
- Doctors are eligible to borrow up to 100% of the property value and avoid the cost of Lenders Mortgage Insurance (LMI).
- Lawyers, solicitors and barristers are eligible for waived LMI in some circumstances.
- Engineers, surveyors, mine surveyors, quantity surveyors, geologists and geophysicists who work in the mining or resource sector are eligible for waived LMI in some circumstances.
- Accountants, finance managers, auditors and actuaries are eligible for waived LMI in some circumstances. One major lender requires an accountant’s salary to be $150k per year to qualify for waived LMI; whereas, other lenders don’t require a certain income threshold.
- Borrower: ABC Pty Ltd As Trustee For The Smith Unit Trust
Mortgagor / property owner: ABC Pty Ltd As Trustee For The Smith Unit Trust
Guarantor: John Smith - Borrower: John Smith
Mortgagor / property owner: ABC Pty Ltd As Trustee For The Smith Unit Trust
Guarantor: ABC Pty Ltd As Trustee For The Smith Unit Trust - Find a home loan with a lower interest rate, so your repayments will be lower.
- Do not look for properties that are outside of your borrowing power.
- Demonstrate that you have good saving habits by increasing the size of your deposit and genuine savings.
- Cut your expenses, including buy now, pay later debt.
- Monitoring and reporting protocols.
- Stabilising waste mass.
- Progressive rehabilitation of the site.
- Extraction of usable resources from waste material where possible.
- He had a fixed price builder's contract of $210,000 in place.
- He was able to provide a good reason for the default.
- He was able to provide an accountant's letter and income declaration.
- Know which lenders will approve your loan.
- Know your needs and compare loans that meet those needs.
- Compare the total cost of the loan, including interest, fees and LMI.
- You don't require any deposit at all!
- You can avoid the cost of Lenders Mortgage Insurance (LMI) saving you literally thousands of dollars.
- It's the least risky no deposit solution on the market and you can remove the guarantee from your parents' home after you owe less than 80% of the property value.
- You can get in the property market now and not two years from now.
- A good income
- Reliable, long-term job
- Eligible loan purpose
- Type of property
- Clean credit file
- Low level of debt
- Genuine savings are usually required
- You're planning on renovating your commercial property or business equipment.
- Your business loan is no longer suitable for the current situation.
- You want to reduce your overall mortgage repayments.
- You want to access equity in your business.
- Your fixed rate term has ended.
- You want to consolidate your debts.
- You plan to keep your business long enough to recover from the cost of refinancing.
- Submit 2-3 years PAYG income summaries, not just two payslips. A letter from your employer may also be required.
- For self-employed borrowers, this means you’d require more documents proving your income, i.e. 2 years or more tax returns, and/or latest BAS statements.
- If you’re using rental history as genuine savings, then a longer 3 years rental history may be required instead of the usual 3-6 months rental history.
- You have a steady job and job security (i.e. working hours are not reduced and the chances of being stood down are low).
- You have a good credit score.
- You have budgeted your finances and have savings.
- You have a good repayment history.
- Interest-only repayment: You'll need to demonstrate you can meet lower interest-only repayments over the short term, and principal and interest repayment after that.
- Cash holdings: If you have cash holdings (redraw, offset or saving account) to support immediate loan repayments and your living expenses over the immediate period.
- Use of COVID-19 benefit payments: If you're receiving COVID-19 benefit payments, this income could be used to demonstrate short term serviceability. Lenders will require evidence of your eligibility or receipt of payments.
- Reduced short term living expenses: A reduced short term living expenses is considered a reasonable strategy considering discretionary spendings such as gym memberships, eating out etc. are not likely to be incurred.
- Use of protected benefits such as long service leave or annual leave to support servicing in the short term. This would require confirmation by the employer.
- Equity release: an equity release may be considered to assist with the short-term cash flow, particularly for SME businesses and corporate borrowers.
- Early release of superannuation: The Federal Government has announced that people facing financial stress as a result of the COVID-19 pandemic may be granted early access to their superannuation, up to $10,000 before 1 July 2020, and a further $10,000 from 1 July 2020 if eligible.
- Extra repayments: Allows you to make additional repayments along with scheduled repayments.
- Lump-sum repayments: Similar to extra repayments, however, you pay off a larger sum of money and is usually a one-off event. This lowers your remaining balance.
- Redraw facility: This will help you access any extra repayments you've made.
- Repayment frequency: You can choose between making repayments on a weekly, fortnightly or monthly basis.
- Interest-only: Interest-only loans pay off the interest charged, so it does not reduce the balance of your home loan.
- Offset account: An offset lets you put money into another account, which reduces the balance upon which the interest is calculated.
- Repayment holidays: You can choose to not make repayments on your home loan for a set period. However, repayment holidays extend the life of your loan, and you end up paying more interest.
- Home loan top-up: Only available once you've built equity in your home, and it allows you to borrow extra funds on your existing home loan for renovation projects.
- Fees and rates like establishment fees, application fees, monthly and annual fees, offset and redraw fees.
- If there are any hidden costs like break costs.
- Provision of a free redraw.
- The length of their application process.
- The customer service they offer.
- Criteria for application.
- Online banking facility.
- Gym memberships.
- Ordering takeaway.
- Going to the movies.
- Nights out at pubs, clubs and restaurants.
- Spending at the shopping mall, clothing outlets and other "luxury" item transactions.
- Paid subscriptions.
- Other recreation and entertainment spending such as music festivals and gigs.
- Solicitor or conveyancer: A solicitor is a legal practitioner who handles all your legal matters, including reviewing and filling up paperwork, when buying a house. A conveyancer, on the other hand, is a licensed professional who explicitly deals with the formal process of transferring title deeds along with ensuring the accuracy and feasibility of contractual terms of housing sale. You may want one of them to review the contract of sale, terms and conditions of the auction, and check the title deed of the house.
- A building and pest inspector: A professional who will provide you with detailed and accurate reports on the structural safety and any pest issues related to the house. You would want to have them inspect the house and send you the building and pest reports prior to the auction.
- Buyer’s agent: A real estate professional who specialises in buying houses on behalf of other buyers based on the latter’s needs. You can use a buyer’s agent if you are reluctant to directly bid at an auction.
- Mortgage broker: An intermediary between buyers and lenders when choosing and applying for a home loan. A mortgage broker can be your best friend when it comes to buying a house in Australia.
- Personal or bank cheque.
- Electronic funds transfer (EFT), if permitted by the seller, followed by an email confirmation to the auctioneer and the seller.
- Deposit bonds. But not all sellers will accept a deposit bond, so you will have to confirm with the auctioneer about that.
- Cold hard cash, which is what many sellers and agents prefer.
- Doctors,
- Accountants,
- Lawyers,
- Mining specialists, must either be a mine surveyor, quantity surveyor or geologist/geophysicist.
- Professional athletes, and
- Entertainment professionals.
- $400,000 less $300,000
- Equals $100,000
- $900,000 peak debt
- less $300,000 mortgage on the property sold
- less $100,000 net proceeds from sale
- equals $500,000.
- Peak debt: $900,000
- Less proceeds from the sale of the apartment: $270,000
- equals $630,000 end debt
- Some of our mortgage brokers are seasoned investors who have had experience building a property portfolio.
- We have over 50 lenders on our panel, each with varying policies that can cater to your investment goals.
- Our mortgage brokers know the lenders’ lending criteria and recommend the right investment loan product that suits your property portfolio needs.
- We can assist with the barrage of documentation and application forms you need to fill in.
- We will make sure you can meet your settlement deadlines without hassling you during the investment loan process.
- We will work out your financial situation and help to maximise your borrowing power.
- You must not be borrowing more than 90% LVR.
- The maximum loan size is $5,000,000.
- Your credit file is free of any bad credit records.
- You have a strong income. Lenders prefer borrowers with an annual income of over $90,000.
- You have stable employment.
- You're buying a property. However, some lenders may accept refinances to purchase a property.
- Ask your friends and family members for referrals
- Real-estate professionals might have some amid their contacts
- There might be investors that are looking for an unconventional opportunity
- Take the help of a mortgage broker.
- Mortgage stamp duty: This is a hidden state government fee that’s calculated based on the amount that you borrow. Most states either waive this for first home buyers or are phasing this fee out.
- Purchase stamp duty: This is one of the most expensive costs associated with buying a home but some states offer stamp duty concessions for first home buyers (try the stamp duty calculator).
- Registration fees: Another government fee! This is a small fee of around $200 for registering the change of name on the property title and registering the new mortgage on the title.
- Conveyancing / legal fees: You can expect to pay between $700 and $1,500 for your conveyancing costs for a standard first home purchase. Please refer to our list of recommended conveyancers if you’ve not yet chosen one.
- Lender fees: Some lenders charge setup fees of up to $850 whilst others will waive all the setup fees for your loan. We can provide you with a free quote for your no deposit loan with the relevant suitable interest rate and fees.
- LMI: This is the other major cost of buying your first home with no deposit. LMI can range from $0 for a quick start loan up to 5.1% of the loan amount. Call us on 1300 889 743 or fill in our free assessment form for an LMI quote or use our LMI premium calculator to find an exact premium for your situation.
- Found a property and need to apply for a home loan?
- Are you still looking but wanted to know if you qualify?
- Have you been knocked back by a lender in the past?
- Seafood: Usually quick-service (fried food) or midscale. Prices change all the time and many kinds of seafood are seasonal. Be sure to choose a supplier that offers quality products.
- Steakhouse: Midscale or upscale service and family-orientated. Comfort is emphasised and they tend to have a western-themed ambience and decor. Upscale versions of this restaurant type tend to have a formal atmosphere and a wider selection of meats with larger portions.
- Family-style restaurants: Targeted towards families and seniors. The service falls between quick-service and full-service. They can be a little pricier than fast-food restaurants but in return you tend to get table service and comfortable chairs and booths.
- Ethnic restaurants: Think Asian, Mediterranean and Indian. These eateries range from quick-service (such as late-night kebab and pide stores) to upscale establishments.
- Cafe/coffeehouse:Home to arguably the world's most popular beverage, coffee, cafes in the right location can serve hundreds of people a day. Despite the limited floor space and seating, there can be a massive rush during lunch for people after a quick meal or snack.
- Bakeries: These businesses tend to have heavy competition so you'll need to differentiate yourself from your competitors. For example, you may want to offer a full dining experience rather than just a glass showcase.
- Timber pests by nature are secretive and difficult to locate, and usually concealed by linings and claddings of buildings that cannot be detected without intrusive techniques (which the property owner might not allow)
- The presence of timber pests can only be determined after frequent inspections over a time period.
- Timber pests are known to infect properties in a short time span. The report will not be conclusive that the property is free from timber pests or pests since the inspector is only looking at the property at the time of inspection.
- The inspection cannot determine the extent of the termite damage unless intrusive techniques are used.
- The inspection cannot determine how severe the damage caused by the termite pests, especially when it comes to structural damage caused by termites. This can only be determined by a qualified structural engineer.
- The code of practice does not necessitate the use of special intrusive tools that cause damage to the property.
- Since most properties are already furnished when an inspection happens, this could limit the scope of the inspection.
- The occupants are not always present during an inspection, especially for houses in an auction, so there could be concealment work done prior to inspection.
- Difficult to find pests like dry wood termites, etc. require invasive techniques where the inspector will check the walls and roofs - working at heights, so specialist equipment is required.
- Timber pests do not include bed bugs, rodents, cockroaches, fleas, rodents, etc., as it is not in the scope of the Code of Practice.
- Sending you free property reports and suburb reports from our subscription so that you can make informed decisions based on the up-to-date information about the property market.
- Getting your bank valuations free of charge so that you can pick a lender who can give you the best property valuation.
- Submitting your mortgage application to a lender, that suits you the best, from our panel of over 40 lenders, which includes some of the major Australian banks and specialist lenders.
- Charging you zero extra fees for using our service.
- Current membership or fellowship of the Australian Institute of Geoscientists (AIG); or
- Current membership or fellowship of The Australasian Institute of Mining and Metallurgy (AusIMM); or
- Current active membership of the Petroleum Exploration Society of Australia (PESA).
- Assess you both as Australian citizens
- Assess you both as foreign investors
- Use the nationality of the highest income earner to determine how to assess your loan
- You’re the main income earner
- You are married or have been in a de facto relationship for over two years
- You have children together
- Your partner has a valid visa for Australia
- Adelaide Bank
- Advantage (Formerly known as Challenger / Interstar)
- AMP
- ANZ
- Australian First Mortgage (AFM)
- Australian Secured and Managed Mortgages (ASMM)
- Australian Unity
- Bank of Queensland (BQLD)
- BankWest (BW)
- Better Mortgage Company (BMC)
- Better Mortgage Management (BMM)
- Bluestone (Risk fee)
- Citibank
- Collins Securities
- Commonwealth Bank of Australia (CBA)
- FirstMac
- Heritage Building Society
- Homeloans Limited
- Homeside Lending
- ING Direct (REF risk fee and LMI)
- La Trobe Financial
- Liberty Financial (LMP risk fee and LMI)
- Loan Ave
- Mainstream Capital
- Merchant Mortgages
- MKM Capital (Risk fee)
- Mortgage Asset Services (MAS)
- National Australia Bank (NAB)
- Paramount Mortgage Services
- Pepper Home Loans (Risk fee)
- RAMS Home Loans
- St George Bank (StG / SGB)
- Suncorp Bank
- The Rock Building Society
- Westpac Bank (WBC)
- Tend to enjoy higher than average incomes.
- Tend to get consistent pay.
- Tend to have minimal expenses because they’re mostly covered by their employer.
- You can borrow up to 95% of the property value.
- Interest rates are often the same as those for a regular loan.
- Ideally, you should have a good asset position, income and employment stability.
- You will still need a deposit; however it can come from almost any source.
- If you have no deposit at all then consider a guarantor loan.
- ANZ deposit bond: Issued by QBE insurance.
- WBC deposit protect bond: Issued by Westpac Banking Corporation.
- Fees and rates like establishment fees, application fees, monthly and annual fees, offset and redraw fees.
- If there are any hidden costs like break costs.
- Provision of a free redraw.
- The length of their application process.
- The customer service they offer.
- Criteria for application.
- Online banking facility.
- Fees and rates like establishment fees, application fees, monthly and annual fees, offset and redraw fees.
- If there are any hidden costs like break costs.
- Provision of a free redraw.
- The length of their application process.
- The customer service they offer.
- Criteria for application.
- Online banking facility.
- Tend to enjoy higher than average incomes.
- Tend to get consistent pay.
- Tend to have minimal expenses because they’re mostly covered by their employer.
- Find a home loan with a lower interest rate, so your repayments will be lower.
- Do not look for properties that are outside of your borrowing power.
- Demonstrate that you have good saving habits by increasing the size of your deposit and genuine savings.
- Cut your expenses, including buy now, pay later debt.
- Ask your friends and family members for referrals
- Real-estate professionals might have some amid their contacts
- There might be investors that are looking for an unconventional opportunity
- Take the help of a mortgage broker.
- Fees and rates like establishment fees, application fees, monthly and annual fees, offset and redraw fees.
- If there are any hidden costs like break costs.
- Provision of a free redraw.
- The length of their application process.
- The customer service they offer.
- Criteria for application.
- Online banking facility.
- Direct compliance or NCCP queries as well as compliments or complaints, to our Compliance Manager.
- Direct operational or process queries to our Operations Manager.
- Rates: You may need to pay all council rates such as the water bill plus other taxes when buying a property.
- Maintenance costs: You’ll be liable for any cost of associated with repairs, replacements or regular property services such as plumbing, pest control and other facets of the property that require attention.
- Levies: If you’re investing in an apartment or strata title then you may be required to pay fees to the body corporate that uses the funds to cover the costs of repairs and maintenance.
- Interest: The interest on an investment loan, along with the principal amount is quite expensive.
- Insurance: It’s a smart idea to insure the property against any risk of damage, as well as fixtures or other contents.
- Agents’ fees: Where an agent is overseeing the property, you’ll be required to pay them fees for managing your property.
- Australia has the world’s highest proportion of households with uptake of rooftop solar energy. As of June 2022, there were nearly 3.2 million installations – about 30% of all homes. Installing a 5kW rooftop solar system saves an average Australian $909 yearly on electricity.
- Research suggests that installing solar systems adds value to the price and rental value of the property. Renters with rooftop solar panels pay $19 more, on average, in weekly rent.
- New homes could be constructed with greater insulation, double-glazed windows and lighter-coloured roofs to reduce future household emissions. The transition to green housing was accelerated at the meeting of the Building Ministers, which resulted in a mandated 7-star minimum Nationwide House Energy Rating Scheme (NatHERS) rating.
- Sustainable housing could add value to a property. Energy-efficient homes could be worth 5-10% more than comparable homes that are not.
- Households are adopting more energy-efficient appliances, heating and lighting solutions.
- Energy retailers offer renewable and carbon-offset products for environmentally conscious customers.
- Lenders have started to offer green home loans to encourage sustainable housing. They are also offering personal loans at discounted rates to retrofit green appliances, add rooftop solar systems and make other green upgrades.
- Adelaide Bank
- Advantage (Formerly known as Challenger / Interstar)
- AMP
- ANZ
- Australian First Mortgage (AFM)
- Australian Secured and Managed Mortgages (ASMM)
- Australian Unity
- Bank of Queensland (BQLD)
- BankWest (BW)
- Better Mortgage Company (BMC)
- Better Mortgage Management (BMM)
- Bluestone (Risk fee)
- Citibank
- Collins Securities
- Commonwealth Bank of Australia (CBA)
- FirstMac
- Heritage Building Society
- Homeloans Limited
- Homeside Lending
- ING Direct (REF risk fee and LMI)
- La Trobe Financial
- Liberty Financial (LMP risk fee and LMI)
- Loan Ave
- Mainstream Capital
- Merchant Mortgages
- MKM Capital (Risk fee)
- Mortgage Asset Services (MAS)
- National Australia Bank (NAB)
- Paramount Mortgage Services
- Pepper Home Loans (Risk fee)
- RAMS Home Loans
- St George Bank (StG / SGB)
- Suncorp Bank
- The Rock Building Society
- Westpac Bank (WBC)
- Look at our article to read our top tips for construction loans.
- Expect the lender to take up to five working days to release each payment.
- The first and last drawdowns can take up to two weeks, depending on the lender.
- Send everything to the lender in one go. If they receive the necessary documents in bits and pieces then they'll get lost or won't be actioned.
- Make sure all correspondence that you send to the lender has your contact details, the builder's contact details and your loan account number.
- Call the lender 48 hours after sending them any documents to make sure they have received them and have made the payment. Keep following up until the payment is made.
- If you can't determine the cost of construction before the loan is approved, think about getting a variable cost / cost plus construction loan.
- Firstly, we recommend finding work in the same industry, or if you’re in a new industry using the same skills in your new job.
- You must have documents proving your current employment status, such as your employment contract or payslips.
- You must save a large deposit of at least 20% of the property value to avoid paying Lenders Mortgage Insurance.
- You must provide adequate reasons for the change in the job. Most lenders won’t approve your application if you’ve been terminated from the previous job without acceptable reasons.
- You must save enough money to cover repayments for at least 3 to 6 months.
- You must keep your credit file clear of records such as late payments, missed payments, etc., to demonstrate that you’re a responsible borrower.
- As long as your income can be proven, we know lenders who can assist you.
- Speak with the vendor and negotiate the fixed price and option to purchase timeframe.
- This agreed price will come at a premium to what the land is currently worth.
- With the help of a qualified solicitor, draft up a pre-agreed Contract of Sale that specifies these terms in writing.
- An option fee will be payable, although this is typically added to the purchase price for the land or property and not paid upfront.
- Typically, you'll have 24 months to exercise your option.
- Try to make extra repayments so you can pay off debt faster
- Cancel credit cards that are relatively small
- Do not fall into more debt in the future
- If you have to pay a huge break fee that does not cover the break-even cost of refinancing.
- If you plan to move or sell your property soon. Avoid refinancing if you don’t plan to stay in your home for longer than the break-even period.
- If you have an existing equity loan that requires you to get your lender’s permission to refinance.
- If you only have a few years left on your home loan. Even if you refinance to a shorter term, the interest rates could be too high.
- If the new interest rate is not competitive enough. You end up paying more interest over the life of the loan.
- ANZ: 0.12% reduction
- CBA: 0.13% reduction
- St George: 0.14% reduction
- Westpac: 0.14% reduction, except interest only loans which had a 0.10% reduction.
- NAB: 0.10% reduction
- Full time
- Part time
- Casual
- Contractor
- Singles must be earning $125,000 or less based on their 2018/19 tax return or later.
- Couples must have a combined income of no more than $200,000 based on their 2018/2019 tax returns.
- Consider your financial goals and needs first.
- Seek financial and legal help to determine how much you can allocate and whether a loan or gift is the better option
- Before signing the paperwork, think about what will happen if your child cannot pay off their loan.
- Get everything in writing to eliminate misunderstandings about repayment obligations.
- You enter the property market sooner
- You don’t have to wait to save a larger deposit
- You might be able to reduce the LMI paid or avoid paying any at all.
- Solicitor or conveyancer: A solicitor is a legal practitioner who handles all your legal matters, including reviewing and filling up paperwork, when buying a house. A conveyancer, on the other hand, is a licensed professional who explicitly deals with the formal process of transferring title deeds along with ensuring the accuracy and feasibility of contractual terms of housing sale. You may want one of them to review the contract of sale, terms and conditions of the auction, and check the title deed of the house.
- A building and pest inspector: A professional who will provide you with detailed and accurate reports on the structural safety and any pest issues related to the house. You would want to have them inspect the house and send you the building and pest reports prior to the auction.
- Buyer’s agent: A real estate professional who specialises in buying houses on behalf of other buyers based on the latter’s needs. You can use a buyer’s agent if you are reluctant to directly bid at an auction.
- Mortgage broker: An intermediary between buyers and lenders when choosing and applying for a home loan. A mortgage broker can be your best friend when it comes to buying a house in Australia.
- Personal or bank cheque.
- Electronic funds transfer (EFT), if permitted by the seller, followed by an email confirmation to the auctioneer and the seller.
- Deposit bonds. But not all sellers will accept a deposit bond, so you will have to confirm with the auctioneer about that.
- Cold hard cash, which is what many sellers and agents prefer.
- One lender currently has a 1.40% discount as a special offer for loans over $500,000, and 1.30% for loans over $250,000 up to $500,000!
- You must be buying a property (refinances are not accepted).
- You have at least 5% in genuine savings (some exceptions are made for renters).
- You’re borrowing no more than 95% of the property value plus Lenders Mortgage Insurance (LMI).
- You must have been in your job for at least 6 months, with 24 months in the same line of work.
- You’ve got a perfect credit history.
- You’re borrowing more than $250,000 and less than $1,000,000.
- Many borrowers feel overwhelmed by mortgage terminology, features and the many options available to them.
- Time constraints prevent people from organising a mortgage review.
- Some borrowers view their home loan as a constant that cannot be changed.
- Many times homeowners are not completely aware of how their mortgage is set up and how to use the features and facilities available to them.
- It's also common for borrowers to be unaware of how to unlock the hidden wealth in their homes.
The loan size: For a larger loan size, you'll have to pay higher mortgage insurance costs. Generally, for a loan size of up to $300,000, LMI will be much cheaper. Larger loan sizes of up to $500,000 will have moderate LMI. If you're borrowing over $500,000 then LMI will be very expensive. So if you’re borrowing $300,001, you can immediately save as much as $800 by borrowing just $1 less.
The LVR of the mortgage: Like the loan size, you'll have to pay more LMI on a higher LVR mortgage. It should be noted that when you borrow even $1 over 90% or 95%, there will be a significant increase in the amount of LMI you'll have to pay. By reducing your loan amount just a little bit, you can easily save over a thousand dollars or so.
The lender and mortgage insurer: Policies related to LMI premium differ from lender to lender. Even mortgage insurers don't all have the same mortgage insurance rates. This is because they price their premiums according to their personal view of different loan types, loan amounts and types of borrowers.
If you have at least 5% in genuine savings, you're eligible for standard LMI rates.
If you can't show that you have genuine savings then you may need to pay a higher mortgage insurance premium.
You'll likely have to pay an even higher LMI if you don't have genuine savings and you have a borrowed deposit such as a personal loan or loan from parents.
- Find a home loan with a lower interest rate, so your repayments will be lower.
- Do not look for properties that are outside of your borrowing power.
- Demonstrate that you have good saving habits by increasing the size of your deposit and genuine savings.
- Cut your expenses, including buy now, pay later debt.
- It’s free: Some banks conduct a free property valuation, while some might charge you a fee. A mortgage broker can order you a cost-free valuation with any bank.
- Free property report estimate: Mortgage brokers generate a free property report before ordering valuation. The property report gives you the market value estimate, which will be close to the legal value. If you apply for a home loan amount by referring to the property report estimate, you’ll rarely have to worry about undervaluation.
- Can challenge valuation: A mortgage broker has the experience and the authority to challenge valuations on your behalf. So, you can only challenge a property valuation report through mortgage brokers.
- Helps save time: A mortgage broker will look after following all the procedures, from applying right through to following up This will save you a lot of time.
- Pre-approval: Before you start property hunting, getting pre-approved for a loan is wise. Provide your financial details to a lender or mortgage broker to find out how much you can borrow. Pre-approval also strengthens your offer when buying a property.
- Documentation: Once you've chosen a property, gather and submit necessary documents, such as proof of identity, income and details of current debts.
- Loan application: Submit your formal loan application, including all your financial details and the property information.
- Property valuation: The lender will assess the property's value to ensure it matches the loan amount.
- Assessment and approval: The lender reviews your application and the property valuation. If everything is in order, it will grant formal loan approval.
- Conditional approval: Sometimes, approval comes with conditions that must be met before finalising the loan. This could involve providing additional documentation.
- Loan offer: Review the loan offer carefully. It includes the loan amount, interest rate, and terms. Once you're satisfied, accept the offer.
- Settlement: The lender transfers the funds to complete the property purchase. Finalise any legal and administrative tasks to finalise the property transfer.
- Apply for a guarantor home loan
- Be ready to pay LMI. You can use our LMI calculator to find out how much it costs.
- Apply for government grants and schemes available that help you buy with a lower deposit.
- Use our savings calculator to find out if you can reach your deposit goal.
- Apply with lenders who offer low-deposit home loans.
- Valuation costs: You'll be required to have your property valued by the lender. This may require you to hire someone who can determine the property's market value and rental income potential.
- Stamp duty: The government stamp duty can be quite expensive, sometimes adding up to 6% of the property value. This varies from each state and territory.
- Legal fees and costs: These costs are payable when you purchase the property. However, they may be waived for investors.
- Transferring property title: On buying a property, you'll need to pay a transfer fee in order to register the property in your name.
- Interest only.
- Fixed rate.
- Line of credit.
- 100% offset.
- Redraw facility.
- Extra repayments.
- Banks that ask you for your original payslips, tax returns and other documents prior to loan approval.
- Lenders that don’t have a loan processing system designed to handle foreign addresses or foreign phone numbers which can cause significant delays in the loan approval process.
- Lenders that don’t approve home loans that are above 80% LVR (Loan to Value Ratio).
- Banks that need you to sign a formal loan offer at the nearest Australian Consulate by the lender.
- Lenders that don’t accept Power Of Attorneys (POAs), a legal agreement that allows the attorney or agent to take legal actions on their clients behalf.
- You can borrow up to 95% of the property value.
- Interest rates are often the same as those for a regular loan.
- Ideally, you should have a good asset position, income and employment stability.
- You will still need a deposit; however it can come from almost any source.
- If you have no deposit at all then consider a guarantor loan.
- Find a home loan with a lower interest rate, so your repayments will be lower.
- Do not look for properties that are outside of your borrowing power.
- Demonstrate that you have good saving habits by increasing the size of your deposit and genuine savings.
- Cut your expenses, including buy now, pay later debt.
- It’s free: Some banks conduct a free property valuation, while some might charge you a fee. A mortgage broker can order you a cost-free valuation with any bank.
- Free property report estimate: Mortgage brokers generate a free property report before ordering valuation. The property report gives you the market value estimate, which will be close to the legal value. If you apply for a home loan amount by referring to the property report estimate, you’ll rarely have to worry about undervaluation.
- Can challenge valuation: A mortgage broker has the experience and the authority to challenge valuations on your behalf. So, you can only challenge a property valuation report through mortgage brokers.
- Helps save time: A mortgage broker will look after following all the procedures, from applying right through to following up This will save you a lot of time.
- Many borrowers feel overwhelmed by mortgage terminology, features and the many options available to them.
- Time constraints prevent people from organising a mortgage review.
- Some borrowers view their home loan as a constant that cannot be changed.
- Many times homeowners are not completely aware of how their mortgage is set up and how to use the features and facilities available to them.
- It's also common for borrowers to be unaware of how to unlock the hidden wealth in their homes.
- Look at our article to read our top tips for construction loans.
- Expect the lender to take up to five working days to release each payment.
- The first and last drawdowns can take up to two weeks, depending on the lender.
- Send everything to the lender in one go. If they receive the necessary documents in bits and pieces then they'll get lost or won't be actioned.
- Make sure all correspondence that you send to the lender has your contact details, the builder's contact details and your loan account number.
- Call the lender 48 hours after sending them any documents to make sure they have received them and have made the payment. Keep following up until the payment is made.
- If you can't determine the cost of construction before the loan is approved, think about getting a variable cost / cost plus construction loan.
Apartment Or House - Which Should I Choose?
While apartments are often perceived as a good option for first time investors, due to its lower investment costs, there are hidden costs involved that might reduce the return on your investment.
Apartments usually come with strata title or community title, meaning you'll have to pay body corporate fees.
Another thing to note is that since you’re the landlord, you are responsible for managing and renovating the apartment.
You can hire a property manager for this, who will look into the maintenance of your apartment, and also help you find tenants if the apartment is vacant.
It's best to find a property manager that is from a location you're looking to invest in, and choose one that is not bogged down by too many properties to look after.
However, as the apartments are small, and can only accommodate a few people, it is expensive for one person to afford.
You'll also need to compete for tenants if there are many apartments located in a close radius, meaning the vacancy rates might be too high.
What about investment homes?
Buying an investment home might seem like a good idea, especially if you want more freedom to manage the property and avoid the corporate fees.
However, if you're buying a home in a metropolitan city, due to space limits, the housing developments might be located farther away, and the amenities that tenants are looking for are not close by.
Whether you choose to buy an apartment or a house for your investment, it all comes down to the demand for the property in the location.
The underlying fact is that you should choose either investing in an apartment or house according to the ideal tenant you want to rent to.
What are the costs involved in buying an investment property?
There are various costs associated with buying an investment property.
You can use our property purchase costs calculator to work out an accurate estimate.
How Do I Qualify For An Investment Loan?
Here's how we can help
Selecting where to buy your investment property is a paramount decision, and we can provide you with the tools and information to help make the decision.
Speak to our award-winning mortgage brokers by calling 1300 889 743 or fill in our free online assessment form and we can help you with your investment loan options.
) [21] => stdClass Object ( [post_id] => 41836 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Make buying a property stress-free
We’ve helped thousands of Australians buy a home.
For most people, it's one of the best decisions they will ever make; for others, it can turn out to be a disaster.
Avoid the big mistakes and protect yourself by following some simple rules.
The #1 rule
Don't commit to buy a property unless you have formal approval from a lender.
If you don’t have formal approval, you’re taking a risk and, as a mortgage broker, there’s not much we can do to help you if later it turns out that you aren’t eligible for a loan.
If you decide to break this rule then you do so at your own risk.
Call us on 1300 889 743 or complete our free assessment form so we can help you get a pre-approval before you commit to a purchase.
What happens if you can’t complete the purchase?
This can vary depending on the state that you’re in but, as a general rule, if you sign a contract and can’t complete the purchase, you’re going to lose your deposit.
The vendor may also be able to sue you to recover any losses they have made such as the difference between the price you agreed on and the price they are able to sell the property for later.
Get pre-approved
The purchaser who can act the fastest to buy a property is usually the winner.
If you’re pre-approved then you’re at a significant advantage over other buyers.
A pre-approval means a lender has assessed your situation so it’s a good indication that they’ll issue a formal approval later when you find a property.
Some lenders only do ‘system approvals’ where a human doesn’t actually assess your loan.
Typically, these are instant pre-approvals and they aren’t worth the paper they’re written on unless you’re in a strong financial position.
Tip: if you have a system pre-approval you must have a cooling off period to make sure you're protected.
The lender can reject the property that you buy
A pre-approval is about the lender accepting you as a borrower but they also need to accept the property you're buying.
If your property is in a poor condition, a high rise block of units, in a remote location, near high tension power lines or has any number of other problems then the lender may reject it.
You can reduce your risk by emailing your mortgage broker with a link to the property on a real estate website.
Ultimately, it’s the lender’s decision and if you commit to buy a property you should have a cooling off period to protect yourself.
Buying at auction is risky
If you win an auction, there is no cooling off period so it’s actually a much bigger risk than most people realise.
You’re committing to buy a property yet the lender can’t issue a formal approval before the auction so you're forced to take the risk.
We only recommend that customers buy at auction if they are in a very strong financial position with a deposit for more than 20% of the property value.
Auctions are incredibly risky for first home buyers with a 5% deposit: if anything goes wrong there’s fewer lenders to choose from that can help. Here is a guide to help you buy property at auctions.
In some parts of Australia such as Melbourne or the affluent suburbs of Sydney, almost all properties are sold at auction.
We recommend that you try making an offer prior to auction and at the very least have a pre-approval before you buy.
Cooling off period vs a finance clause
A cooling off period usually allows a purchaser to withdraw from the contract within a certain period of time for any reason.
On the other hand, a finance clause only allows you to withdraw from the purchase if you're unable to get a loan.
Each state of Australia has their preferred way of working but you can always ask for a cooling off period rather than having to adhere to a finance clause.
A cooling off period is a much better way to protect yourself because a finance clause doesn’t protect you in all instances.
For example, a finance clause won’t work if:
In some states, a cooling-off period is mandatory, unless a buyer agrees to waive it.
We recommend that you ask for a two-week cooling off period to allow for any delays caused by the valuation and the bank.
What if the cooling off period is expiring?
In New South Wales, it’s common to have a cooling off period of just five days.
The rest of Australia usually allows two weeks!
Five days is plenty of time if you’ve got a simple loan application and no valuation is required but two weeks is needed if your situation is complex.
It’s quite common for the cooling off period to be coming to an end before the formal approval has been issued.
In these cases, you can request an extension via your conveyancer.
Technically, it’s the job of the conveyancer to monitor the cooling off period and to extend the cooling off period if your finance isn’t yet ready but you should take responsibility for this yourself as ultimately it’s your deposit that is at risk.
Can’t the lender just approve my loan faster?
Yes and no.
We can lodge a request to escalate a loan for a quick approval and with some lenders this works and with others it does nothing.
Lenders aren’t reliable and most loan applications are urgent!
That's why it’s much easier and safer to extend the cooling off period than to rely on the lender to move faster.
The main delay for getting a loan approved is not having all the required documents ready for your application.
If you provide everything to your mortgage broker immediately then they can get you a faster approval.
Lenders report that on average, 60% of loan applications cannot be approved because the borrower or broker have not provided the required documents.
Buying or building a new property
New properties often have valuations that come in below the purchase price.
This poses a big risk to first home buyers as the lender may reduce the maximum amount they’ll lend you, leaving you unable to complete the purchase.
Do more homework before buying a new property and look for recent sales outside of the development you are buying in to make sure the price is fair.
If you’re building a home, be aware that few lenders can finance owner builders and nobody can finance a ‘split contract’.
A split contract isn’t referring to having one contract for the land and one for construction: that’s normal.
It’s referring to a type of building contract.
Check with your builder to be sure they know what it is.
Buying off the plan
Buying off the plan is the riskiest type of purchase.
It’s really a speculative investment, yet most people see it as no different to buying a standard home.
The problem is that you’re committing to buy a property but nobody is committing to give you a loan!
If you have children, change careers, the property market slumps or banks change their lending criteria, you may be unable to get a loan at the time of settlement.
Most people who buy off the plan are doing so because they get some kind of first home benefit such as waived stamp duty or a first home owners grant (FHOG).
You can get the same benefit by buying a new property that is complete so why take the risk?
Since it's a speculative investment, buying off the plan should only be considered by people in a very strong financial position with more than a 20% deposit.
What if settlement is delayed?
Settlement delays are common and they can be stressful for you as a home buyer.
The most common cause is because the lender isn’t ready to advance the funds due to delays with the loan offer documents or because your loan is complex.
This includes borrowers who are Australian expats, those using a guarantor, those who are buying a property in a trust and those who are self-employed.
You can prevent settlement delays by asking for two weeks more to settle.
Six weeks is most common in Australia but we find that eight weeks will give you a stress-free experience.
You can also negotiate on the rate of penalty interest so that it’s only 5%.
That way if there are delays this doesn’t cost you a fortune.
If you miss the settlement date, the consequences can vary depending on the state that you’re in.
In some states, the vendor can immediately cancel the contract and keep your deposit.
In others, they will issue you with a notice to complete which gives you an additional 14 days to settle but you’ll be charged penalty interest until you complete.
Most vendors work with the buyer in an amicable way to complete the purchase.
However, you can’t rely on them being nice!
You need to take a delayed settlement very seriously to avoid losing your deposit.
Don’t go overseas
If you’re an Australian expat or foreign investor then you should allow an extra two weeks to settle your purchase and put this into the contract of sale.
However, it’s common for Australians to buy a property and then go on an overseas trip while waiting for settlement!
The problem is that if you’re overseas, documents may need to be mailed back and forth which will delay the process.
We recommend that you don’t go overseas during the process.
If you must then ask for eight weeks to settle rather than the normal six.
Your conveyancer is your legal expert
This article is generic and covers all states of Australia.
However your contract of sale may be different to the norm or your state’s legislation may change.
It’s important that you seek advice from your conveyancer, solicitor or settlement agent as they can give you advice on the contract and the relevant legislation for your state.
We’re mortgage brokers and our focus is on getting you a suitable mortgage so check out our list of recommended conveyancers for your states.
If you need help with applying for a home loan, call us on 1300 889 743 or fill in our online enquiry form and find out how we can help.
) [22] => stdClass Object ( [post_id] => 20512 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Optometrists can save a fortune with negiotated home loan rates and fee waivers just by applying with the right lender.
You can
Find out if you qualify for a discount by calling our mortgage brokers on 1300 889 743 or by filling in our free assessment form.
) [23] => stdClass Object ( [post_id] => 21672 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Although it is always better to save a deposit of your own, it is possible to use a personal loan as part of your deposit to buy a home.
You need to meet the criteria for both a home loan and for a personal loan.
To qualify you must have:
Most lenders do not offer home loans with if you have a borrowed deposit due to genuine savings requirements.
In addition to this many lenders do not offer personal loans if they are being used as a deposit on a home.
Call us on 1300 889 743 or fill in our free assessment form to find out if you can qualify to buy a home.
) [24] => stdClass Object ( [post_id] => 60693 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
The economic crisis brought by the COVID-19 pandemic last year prompted lenders to grant a mortgage deferral to borrowers. The mortgage 'holiday' acted as a relief for many.
Of the total home loan takers across lender banks, 10% accepted the offer and paused their repayments.
Further, the lender banks were allowed to give extensions of up to four months to their customers for repayments.
The new deadline was now ten months from the start of mortgage deferral or until March 31st.
Below is a comprehensive chart to summarise the loans subject to a repayment deferral.
The most recent stats published by the Australian Prudential Regulation Authority (APRA) show the total mortgage deferral at $32 billion.
The sum now being quite large, and with the deadline approaching soon, lenders have started to pull back deferrals according to their terms and policies.
The lender bank with the highest mortgage deferral of 10% on April 31st was down at 3% by December 31st.
Similarly, the lender bank with the least mortgage deferral of 4% was down by 1% during the same time interval.
Mostly, the decline was because banks stopped giving automatic repayment holidays to their customers. And, by now, they are even asking borrowers to start making repayments.
So, given the circumstance, if you are yet to recover from the economic crisis, here are some solutions:
Extending the mortgage deferral period
If your mortgage deferral period ends before March 31st, you can extend it.
However, since it is March already, many lenders will be reluctant towards the idea.
This instance is where your broker can step in.
As they have access to Business Development Managers of lenders, they can always liaise with them for the extension.
Once the lender is assured of your capability to make repayments after the deferral period, you will get the extension.
Extending the term of your loan
Extending your loan term buys you more time to pay off your loan, and the repayment instalments will decrease.
Note: You must be aware that the total interest to be paid will also increase due to the extension.
Consolidating your loans
If you have multiple loans to make repayments, you should consider consolidating them into a single loan.
Consolidating them to a single mortgage loan reduces the total repayments you would have to make separately.
Interest-only payment
You can switch over to an interest-only payment option temporarily to avoid making principal repayments.
Doing this will help you:
However, it has some cons, including:
Of all the solution, you must go with the once that best compliments your case.
Are you looking to change the terms of your loan? Our mortgage brokers are here to help. Call us on 1300 889 743 or enquire online.
) [25] => stdClass Object ( [post_id] => 35490 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>A storage unit typically falls within warehouse lending policy so you may be eligible for the following:
We can provide an indicative funding approval just by grabbing a few details from you!
We're specialists in storage unit loans so call us on 1300 889 743 or complete our free assessment form today.
) [26] => stdClass Object ( [post_id] => 44381 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>It can be tough to save up enough money for a down payment on a house. But don’t worry, there are ways around it.
Here are four options for buying a second property with no deposit:
Equity Loan
Equity is the difference between your property’s value and the amount you owe on your home loan. You can use your built-up equity to finance your deposit for a second property. You can generally release up to 80% of the value of your property, minus what you still owe on it, for this purpose. To qualify for an equity loan:
Depending on how much equity you have, you can refinance to access it and cover the cost of your deposit as well as the other costs of purchasing a property.
Call us on 1300 889 743 or complete our free assessment form if you want to get an equity loan to buy a second property with no deposit.
Cash-out
Cashing out is when you draw cash out of your equity and use it as your deposit to purchase a second property. Generally, it’s best that you provide a letter from your conveyancer confirming that you’re looking for a property, or a copy of the Contract of Sale to prove you’ve found one. Some lenders have restrictions limiting the amount you can cash out to anywhere between $10,000 and $50,000.
Cross-collaterisation
This means using your existing home as security for the new purchase, bringing both properties under the one home loan. To do this, you must owe less than 80% of the property value of your home. There are pros and cons to cross-securitising, which you can read about on our page on the topic, here.
Line Of Credit
If you’re on a professional package and in a position to do so, you can refinance your current home loan and open a Line of Credit (LoC). A LoC works very much like a large credit card, and it’s beneficial if you need a deposit to buy an investment property. Depending on the amount of equity you have and the strength of your financial situation, you can increase your LoC borrowing limit to fund renovations and general improvements to the property you’re purchasing.
There are pros and cons to a Line of Credit facility that you can read more about line of credit
Joint Ownership
Do you have a strong income? Have you found a great investment opportunity, but can’t quite scrape together the deposit because of your current home loan commitments?
Joint ownership can allow you to buy a second property with a co-borrower who has the deposit to put towards the purchase.
It’s essential to seek financial advice before considering this form of ownership because there can be problems if you decide to sell the home. You also have to consider how to share the ongoing costs of ownership.
Vendor Finance
Vendor finance, or owner’s finance, is risky and costly.
Check out the vendor's finance page for more information about this option and whether it's right for you.
) [27] => stdClass Object ( [post_id] => 272 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
We've collected a selection of useful links for people who would like to apply for a low doc loan.
You can also speak to one of our mortgage brokers on 1300 889 743 or ask as question on the Disqus comments section at the bottom of our webpages if you have any queries about your mortgage.
) [28] => stdClass Object ( [post_id] => 45058 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Westpac has become the first of Australia's largest banks to increase its Standard Variable Rates and it's "almost certain" the other Big 4 will follow.
Update: ANZ and Commonwealth Bank announced that they will also be increasing their variable interest rates.
Get in touch with one of our mortgage brokers and find out if you could be getting a better deal right now with another lender.
Call 1300 889 743 or complete our online enquiry form today to find out if you're eligible to refinance your home loan. ) [29] => stdClass Object ( [post_id] => 44202 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Some companies offer their employees the opportunity to invest in an employee share scheme (ESS), or the shares may form a part of their salary package.
How much of your dividend income the lender uses will determine your home loan borrowing power:
We're experts in employee share scheme home loans where there is real estate as security.
Please call us on 1300 889 743 or fill in our online enquiry form today.
) [30] => stdClass Object ( [post_id] => 374 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Yes! We may be able to get the bank to use 100% of your monthly, quarterly or annual bonus income.
It all comes to how long and how regularly you receive this income.
Enquire online or call us on 1300 889 743 and one of our specialist mortgage brokers will help you determine how much of your bonus income will be accepted by the banks and which institutions are likely to lend.
Do banks take bonuses into account for mortgages?
Yes, they do.
Generally bonuses are reliant on employees meeting the KPIs or targets set for them at the beginning of the year. If performance is good then bonuses are given out and awarded, however if the performance of the employee is unsatisfactory then no bonuses are given out.
In some cases, employers simply don’t pay the bonuses they have promised or move the goalposts, making the targets effectively impossible to reach.
As bonuses are based on the employee’s overall performance and they are often paid at the employer’s discretion, it becomes difficult for the banks to consider these bonuses in their assessment.
In comparison to a regular monthly salary, bonuses are a very unreliable and unpredictable measure of consistent income.
Additionally, many bonuses are not paid monthly but rather annually or quarterly, making it harder for those who pay their bills on a day to day basis.
What documents do I need to provide?
All lenders will require supporting documents that evidence your bonus income.
However, each lender has different requirements. Their guidelines will determine the documents you must supply. Generally, you should try to provide as many documents as you can.
Most lenders will require some or all of the following:
Enquire online or contact us on 1300 889 743, and one of our specialist mortgage brokers will help you find a lender who can take bonus income into consideration when they assess your home loan application.
) [31] => stdClass Object ( [post_id] => 11856 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Our mortgage brokers are specialists in construction loans and know which banks can assist.
Please call us on 1300 889 743 or enquire online and we’ll help you to get approved.
) [32] => stdClass Object ( [post_id] => 67861 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] => Need a home loan but not sure where to start? Have questions about the home buying process? With Live Chat, you can reach out to us any time. Home Loan Experts’ team of specialist mortgage brokers is available even after work hours and on weekends to answer your questions. Alternatively, you can fill out our online enquiry form and we will contact you with a free assessment, or you can call us at 1300 889 743 during business hours.
) [33] => stdClass Object ( [post_id] => 475 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
If the property you want to buy is located in a flood zone, you may have difficulty getting a home loan.
However, depending on where your property is and how strong you are financially, we may be able to help you qualify.
Banks care about how often flooding occurs
Flood zoning has many possible time frames.
For example, ‘1 in every 100 year zoning’ means that, on average, the property is expected to flood once every 100 years.
This would be expressed as 1:100 year flood zoning or 1% Annual Expedient Probability (AEP).
If your property is zoned to flood more often than 1:100 years then you are unlikely to be able to get a flood zone home loan.
How much can I borrow?
Discounts: Competitive professional package and basic loan discounts are available.
Note: Lenders are hesitant to lend to riskier flood affected properties. We may need to obtain additional records from council or a valuation report to be able to find a lender to approve your loan.
What requirements do our lenders have?
In some cases you may be able to obtain finance for properties that flood up to 1:50 years (2% AEP) if you have a strong application and can meet the above requirements.
What do the lenders think?
There are many issues with a flood zoned property. The fact the property is susceptible to damage through flooding means that there is a real risk involved for the lender. Most banks will not approve a home loan secured by that property.
Your local council will probably not approve new developments on that land so you may be unable to obtain flood insurance.
Can I still borrow?
As a general rule, 1:100 year zoned land is acceptable because this type of land can still be developed and buildings on the land can be insured.
Banks are willing to accept them as security for a mortgage whereas up to 2% AEP land may or may not be accepted.
However, where you have a good credit history and your finances are strong, you will be in a better position to borrow and the banks may consider lending to you. If you have been able to obtain flood insurance, this will also help your application.
If you are looking to apply for a loan, please call us on 1300 889 743 or enquire online today and we can help you get approval.
What is a flood zone?
If your home is in an area that can be affected by floods then your property may have a flood zoning. Flooding in the area may be minor, moderate or major, depending on the climate and the region that you live in.
In many cities and rural areas across Australia, flooding is common. They are especially prone to occur in dry areas and are generally the result of heavy rain.
Flash flooding is a type of flooding that occurs during heavy storms and produces a large amount of storm water which burdens the drainage system and results in a flood.
Flood insurance requirements
Although flooding is a natural event beyond your control, there are still ways to minimise damage to your property.
It is very important to ensure that you have an insurance policy that covers the risk of flooding. This is a factor that banks take into account when considering whether to approve your mortgage.
Insurance providers such as the NRMA offer flood cover for a variety of events including:
Cover differs from storm damage and water damage so it is best to speak to your insurance provider to make sure that you are covered in the event of flooding.
Protecting your home
Properties built on stilts offer greater protection from flooding.
It is also important to remain aware of a potential flood threat by monitoring websites such as the Bureau of Meteorology. This website provides up to date information on the risk of flooding in your area.
Keeping informed about flood warnings and heavy rainfall will ensure that you are better prepared if a flood occurs.
Speak to us today!
We are the experts in getting loans approved:
If you are looking to purchase a home in a flood zone and need finance, please call us on 1300 889 743 or enquire online today.
We can help you apply with the right lender that will approve your mortgage, regardless of the potential risks involved. Give us a call today!
[wbcr_snippet id="73407"] ) [34] => stdClass Object ( [post_id] => 23440 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Comprehensive credit reporting (CCR) became fully mandatory in Australia for Big Four Banks from July 2018, which means they would use a larger magnifying glass to pry into your credit history.
This mandatory credit reporting regime has been passed by both houses of parliament on February 2021 with a few amendments and is expected to come into effect from July 2021.
There are both winners and losers when it comes to home loan approval – which side are you on?
What is comprehensive credit reporting?
Prior to the introduction of comprehensive credit reporting (CCR), Australia effectively operated under a “negative” credit reporting environment.
Which essentially meant only adverse credit events such as defaults and judgements showed up on your credit file.
However, with the implementation of CCR, banks are now required to share more information about the type of credit products you hold and your repayment history to credit reporting bureaus.
As a result, it provides a more complete and holistic picture of your credit history.
What new information is shared under the CCR?
New information that is shared with the credit reporting bureaus under positive credit reporting are:
A “default” is listed, if your payment is late by 60 days or more and for amounts you owe that are over $150 (previously the amount was $100). It will still remain on your file for 5 years.
In addition, repayment history data can only be provided by and shared with licensed credit providers, so your information does not include telephone and utility accounts.
Call us today on 1300 889 743 or fill in our free assessment form, to find out how to use positive credit reporting to benefit you.
) [35] => stdClass Object ( [post_id] => 22910 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Specialist lender Investec sold off its Australian professional banking arm for $440 million earlier this year and many high net worth professionals have been left wondering where they should go for a home loan.
As part of our High Net Worth Clients Package you may be eligible for discounts exclusive to people in your financial position such as:
The benefits available to you all depend on what your needs are so call us on 1300 889 743 or complete our assessment form to receive a free, no obligation assessment of your situation and investment strategy.
) [36] => stdClass Object ( [post_id] => 7916 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Most banks offer attractive discounts when you commit to a fixed rate home loan and you can end up saving you thousands of dollars!
The question is, how long should you fix for?
Discuss your options with one of our mortgage brokers by calling us on 1300 889 743 or enquiring online.
) [37] => stdClass Object ( [post_id] => 43574 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>The main difference between interest-only (IO) and principal-and-interest (P&I) loans is how the repayments are structured. With an interest-only loan, you pay only the interest for a set period, which keeps repayments low but doesn't reduce the loan balance. This can be useful for investors or for short-term financial flexibility.
In contrast, P&I repayments include both interest and principal, helping gradually reduce the loan balance and leading to lower total interest paid over time.
The right choice depends on your financial goals and circumstances.
The pros of interest only loans
Check out the interest only loan page to discover if you qualify!
Alternatively, call us on 1300 889 743 or complete our free online assessment form to speak with one of our specialist mortgage brokers.
) [38] => stdClass Object ( [post_id] => 70873 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] => Getting a new home loan to replace the one you have is refinancing. Homeowners have different reasons to refinance, ranging from shortening the length of the repayment term to paying off high-interest debt. Here are the 10 most asked questions about refinancing, answered by our mortgage experts.
10 Frequently Asked Refinancing Questions
1. Why should I consider refinancing?
There are several valid reasons to refinance your home loan:2. When is the best time for me to refinance my mortgage?
As our mortgage specialists suggest, if you tick one or more of the following boxes, you should consider refinancing your mortgage:3. What are the documents required?
Refinancing is similar to applying for your original loan. In most cases, your lender will ask you to present the following documents:4. How long does the refinancing process take?
Refinancing period varies according to your lender and how promptly you submit the documentation required. The entire process, from applying for the loan, to your new lender arranging the transfer of debts with your current lender can usually take between two and four weeks.5. Does refinancing affect my credit rating?
Yes. Lenders view refinancing as a credit application, which is why it can hurt your credit rating if you do it frequently. In a similar way, your application being rejected for a refinance can make a dent in your credit score. Talk to our mortgage brokers to find out how to preserve your credit score while refinancing.6. What costs are involved in refinancing?
Refinancing can be expensive. You will usually have to pay break fees to be released from your current mortgage. This is why some people avoid refinancing if they are, for example, near the end of a fixed-rate term. Your new lender might ask you to pay an application fee, too, as well as closing costs.7. How often can I refinance?
There is no limit on how many times a homeowner is allowed to refinance. However, many lenders require a waiting period between when you close on a loan and refinance into a new one. Some lenders also have a requirement for homeowners to wait after refinancing before refinancing again – generally at least six months. Frequent refinancing can lower your credit rating, too. Talk to a Home Loan Experts mortgage broker for information on how refinancing will affect you.8. Are refinancing and topping up your loan the same thing?
Refinancing and loan top-ups are two different home loan features; each has its own set of benefits. To make it clearer, Refinance = Involves switching to a new home loan Loan top-up = Involves increasing your existing home loan and paying off a portion of it over a shorter term. Choose which is best for your situation but keep in mind that most fixed-rate loans don’t allow top-ups.9. Will refinancing affect my loan in the long term?
Your refinancing situation might affect your loan in the long term; both in positive and negative ways.10. Who should I refinance with?
Different lenders offer different refinancing options and benefits depending on your current situation. Our mortgage Experts will search the 50-plus lenders in our panel and find the best refinancing option for you. Talk to one of our brokers today! Call us on 1300 889 743 or fill out our online enquiry form. [wbcr_snippet id="71986"] ) [39] => stdClass Object ( [post_id] => 32185 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>The health food industry is a big business in Australia and you can grab a slice with a Boost Juice franchise loan.
As an accredited franchise, a couple of our lenders can actually help fund the costs of establishing a new Boost Juice store or buying an existing one.
We can even help you borrow up to 100% of the value of the business!
How much can I borrow?
Some banks recognise Boost Juice's strong global brand and robust franchise model and are willing to offer competitive franchise loan terms for a strong application.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our Boost Juice franchise loan specialists.
Like other commercial loans, franchise finance is negotiable depending on the strength of your application.
If you can show that you have strong business experience with the financial stability to input your own funds into the business, the better the discounts available to you.
Getting approved
Franchise loans are a grey area when it comes approval criteria.
Even though Boost Juice is an accredited franchise, a minimum performance indicator is that an existing store has interest cover of 1.5x earnings before interest, tax, depreciation and amortisation (EBITDA).
This is only a requirement with one of our lenders but it gives you an idea of what banks will be assessing when looking your business financials.
Ultimately, the franchise loan application still needs to make sense so, as a general rule, you'll have to meet the following requirements:
We know exactly what the banks are looking for in an application so get in touch and we can help you!
Buying a Boost Juice franchise
Boost Juice is not only Australia's largest chain of juice and smoothie bars but the largest in the Southern hemisphere.
It's also one of the most popular franchise systems in Australia for more than a decade and for good reason.
With a business model and image built around youth and energy, it may be just the new business venture you're looking for.
Why Boost Juice?
Boost Juice was first established in 2000, the exact same time that the health and wellbeing craze hit the Australian market.
Across the fruit juice and smoothie industry, the total revenue is well over the $360.7 million as at 2016.
To this day, Boost Juice dominates the market and is actually acting as a barrier to independent and competing chain entrants.
How much revenue can I make?
It's impossible to provide an exact dollar figure on what you can stand to make because it depends on things like store location and your business acumen.
However, once you sign up you'll actually be provided with historical sales turnover figures once you sign Boost Juice's confidentiality agreement.
This will give you some indication at least.
What's the application process?
Like other franchise businesses, the application process usually involved both a phone and face-to-face interview before Boost will accept you as a franchisor.
As per Boost Juice's franchise kit, the application process involves:
How much will it cost?
For a 20sqm store, you're looking at a total investment of $240,000 to $300,000.
This includes:
Bear in mind that each new site has different requirements. Some sites might require specific construction and design work that will affect the fixed price contract
You will also need to provide some working capital to get the business up and running.
The amount required will vary but the bank won't simply approve your franchise loan if you're not contributing anything to the business (hurt money).
Other upfront and ongoing costs of a Boost Juice franchise loan
How will Boost Juice support me?
Boost Juice franchise loan FAQs
Buying a franchise can be an exciting decision but it's important to go into the application process with your eyes wide open.
Speak with financial and legal professionals before signing the dotted line so you can avoid many common traps.
How long is the franchise agreement for?
It's important you understand that the agreement is for 7 years (plus 2x 7-year options).
This is significantly lower than the standard 10 years you get with most other franchise systems.
Essentially, you have a shorter time frame to get a business up-and-running and producing a healthy profit.
When should I apply for finance?
If you think it's the right franchise system for you and you've sought out legal and financial advice, you can apply for a Boost Juice franchise loan right away.
Specifically, do this before signing the franchise agreement. It's essential that your loan has been approved before signing on completely.
What's the turnaround time on approvals?
Turnaround times on Boost Juice franchise loan is around 3-4 days depending what financials the bank wants to see from you.
The best thing you can do is be prepared with your financials and a solid business plan to really impress the bank.
The will give you a better chance of getting approved the first time around and even qualify for great discounts.
Can you open multiple stores?
This will be decided by Boost Juice based on the performance of your current store.
As a general requirement, you'll need to be operating your current store for a minimum of 12 months before being considered for additional stores.
If Boost is satisfied, they'll agree to allow you to open a certain number of stores over a set period of time.
We can help you qualify for a multi-site franchise loan!
When should I ask for a franchise kit?
Ideally, you should be provided with a franchise kit upfront and it should contain an example franchise agreement.
A company like Boost Juice relies almost entirely on its franchise model for profits so you're in the driver's seat so ask to see this first.
Apply for a franchise loan today
Do you need a Boost Juice franchise loan so you can start realising your business goals?
Call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify and how we can you a great deal.
) [40] => stdClass Object ( [post_id] => 31265 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
A term deposit guarantee, or cash guarantee, is an unusual type of guarantor loan where the guarantor provides cash instead of their property as security for the home loan:
Get in touch with one of our mortgage brokers and we can let you know if you qualify.
Call 1300 889 743 or complete our online assessment form today.
) [41] => stdClass Object ( [post_id] => 284 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Unfortunately, 15 year fixed rate home loans don't exist anymore.
However, some of our lenders offer 10 year and 5 year fixed rate home loans.
Please call us on 1300 889 743 or complete our free assessment form to get a quote from one of our mortgage brokers.
) [42] => stdClass Object ( [post_id] => 55617 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Only a select few lenders allow home buyers to borrow up to 98% of the property value. Most lenders limit their lending to 95% of the property value inclusive of LMI.
Their qualifying criteria are stricter since you’re borrowing at a high loan to value ratio (LVR).
It is important to note that there are other lending criteria to consider besides the one listed above, which are based on your individual circumstances such as your employment history, rental history, income etc.
So, to find out if you qualify, please speak with one of our award-winning specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short assessment form.
) [43] => stdClass Object ( [post_id] => 61568 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Earlier this month, we reported that many cities in Australia were experiencing an upward pace in rental income.
A lot of cities saw a sudden spike in asking prices for rents, following a low during COVID-19. Investors with rental properties were looking at huge profits.
However, this sudden rise in rental prices has not reflected evenly in rental yield across all cities.
Major cities like Sydney and Melbourne have seen a decline in their rental yield since last year.
Comparing the rental yield for the first quarter of 2020 and 2021, Melbourne has gone from 3.38% to 3.02%. This decrease is the highest among all cities; the yield figure of around 3% is also the lowest.
Outside Sydney and Melbourne, the two capital cities with an increase in rental yield are Perth and Darwin, with the respective rental yields of 5.11% and 5.63%. The rental yield percentage for Darwin is the highest across all cities.
This recent development shows investors are better off if they purchase an investment property outside of the major hubs. Some cities and regions are unfazed by the trend that major cities have caught on to, so investing in these areas is a better choice.
While it might not be possible for people with jobs and ties in Sydney and Melbourne to think about moving out altogether, they can purchase investment properties outside the area.
Rentvesting to places where yields are much higher than the city you live in is also a reasonable investment strategy that most people are applying.
Home loans for investment properties are currently at lower interest rates. Hence, investors can earn greater profits for themselves now more than ever.
We at Home Loan Experts can assist you through your home loan process for an investment property. Our expert mortgage brokers are always here to help.
Call us on 1300 889 743 or enquire online today!
) [44] => stdClass Object ( [post_id] => 44403 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Do you earn income from an Airbnb property?
Not all lenders will accept short-stay accommodation income, but we know which lenders take a common sense approach to the gig economy and offer Airbnb income home loans.
Due to the coronavirus pandemic, banks have tightened their lending policies around Airbnb income. To learn more, talk to our mortgage brokers at 1300 889 743 or fill in our free assessment form.
) [45] => stdClass Object ( [post_id] => 63978 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] => The rapid surge in housing prices throughout 2021 hasn’t affected RBA’s stand on the cash rates. The bank held the cash rates at 0.1 per cent in June and is adamant that it will keep the cash rates low until at least 2023. This has helped in creating a property boom in Australia. Housing prices across Australia have risen by more than 2 per cent in May alone, and 10 per cent since the pandemic hit. Sydney, unsurprisingly, has been in the front seat of the property boom, growing 3% yet again last month. On the other hand, Hobart surprisingly had the highest property growth rate at 3.2% over May. The median prices of dwellings across Australia grew again this month, making it increasingly difficult for homebuyers to get into the property market. The new APRA data shows that the growth rate for owner-occupier home loans has been slowing down from previous months. The total increase in owner-occupier loans was $6.9 billion in May, compared with an increase of $8.3 billion in March. The growth rate in investment lending, however, has increased from previous months. The total investor loans increased from $160 billion to $160.8 billion in April. This was an increase from March’s growth rate of 0.2 per cent to 0.3 per cent in April. Some experts think that with the investors increasingly in the market and owner-occupiers slowing down, the RBA may change its stand on the cash rates sooner than expected. We have already seen the major banks starting to increase their interest rates, and it is possible that the RBA will follow. Is buying now good then? We understand that trying to get into a red hot property market that increases in prices daily could be stressful for homebuyers. However, this may be the best time to understand how much you can borrow and buy a property according to your capacity before the rates and prices eventually go up again. Home Loan Experts mortgage brokers are experts at helping our clients find the best solutions, which can help you be free of stress and not do everything yourself. Please get in touch by giving us a call at 1300 889 743 or fill in our free assessment form, and we will assign you one of our specialist mortgage brokers to discuss your situation in detail with you. ) [46] => stdClass Object ( [post_id] => 63874 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] => One of the most significant impacts of COVID-19 in Australia has been the ‘working from home’ shift. According to the Household Impacts of COVID-19 Survey in February, 41% of people with a job have worked from home at least once a week in February 2021. Before March 2020, only 24% of people with a job worked at least once a week from home. Even after the introduction of vaccines and with the worst of COVID behind us, the percentage of people working from home in 2021 remains higher than ever before. Brokers report that more and more people are reassessing the time they may spend at home and looking to buy a home with more space. In April 2021, realestate.com.au reported that the number of people searching for three or more bedrooms has increased. On the other hand, the searches for single dwellings have been on a downward trend since January 2021.
With the demands for larger houses increasing, people have been turning to regional areas compared to the big cities, where the prices for larger homes are significantly higher.
That may be the reason why regional Australian properties are seeing a rise of an average of 13% from last year. In comparison, the two big capital cities, Sydney and Melbourne, grew at an average of 6%.
And it’s not just the owner-occupiers trying to get into the regional market. Since the turn of the year, investors have been jumping into the regional market because of rising rents.
The latest National Housing Market report has found that the total home loans market share of property investors stands at 21.9%, which has exceeded first home buyers at 19.3%. A large portion of the investors has been flooding to regional areas.
Some experts think that even with the value gap between regional markets and capital cities decreasing rapidly, the incentive to buy in regional areas may not fade away any time soon. The belief is that some regional areas may be experiencing a permanent shift in their value, relative to the capital cities, due to the increase in people working from home and the related desire for larger homes.
Are you looking to get into the regional market?
If you’re searching for the best regional area to invest in, you will need an expert at finding the best home loan deals for you. Please give us a call on 1300 889 743 or fill in our free assessment form, and one of our specialist mortgage brokers will discuss your situation with you in detail.
)
[47] => stdClass Object
(
[post_id] => 64684
[meta_key] => add_site_layouts_0_post_editor_option
[meta_value] => According to new research, more than 22,000 new housing loans to first home buyers in Western Australia were approved in the ten months between July 2020 and April 2021, nearly double for the same period the year before.
In comparison to New South Wales and Queensland property buyers, WA residents have ranked their housing as affordable. WA first home buyers also took a larger slice of new loan commitments than NSW and Queensland at over 40 per cent for much of the last ten years.
There had also been 16,391 new build HomeBuilder applications in WA compared to 16,266 in NSW and 21,871 in Queensland, and 22,671 WA Building Bonus applications.
Here's why the residential housing markets are booming in Western Australia:
Are you looking to buy a property in WA?
You can almost access $70,000 to buy your first home in WA with the State and Federal grants. We can assist you with the home application and find out if you qualify for these incentives. We have the best mortgage brokers in Perth that can make the process of buying a property smoothly. Call us on 1300 889 743 or fill in our free no-obligation assessment today. ) [48] => stdClass Object ( [post_id] => 1794 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>We are paid by the banks for introducing loan applications and for doing some of the work that would otherwise be completed by one of their staff.
As a result we do not need to charge a fee for most loans. The lenders will not charge you a higher interest rate via a mortgage broker. In fact, we can usually negotiate a competitive discount for larger loans.
It is unlikely that we will charge any fees if:
Please call us on 1300 889 743 if you have any questions about our fees.
If we can't help you
If either we decline to take on your loan or the lender we choose declines the loan then there are no fees for our services.
) [49] => stdClass Object ( [post_id] => 405 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Note: Most lenders restrict the amount you can borrow quite significantly, often to 80% or less of the property value. In fact, several lenders will not lend to first home buyers at all!
Please enquire online or call us on 1300 889 743 to discuss your purchase with one of our specialist mortgage brokers.
) [50] => stdClass Object ( [post_id] => 23243 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] => Physical therapists (physios) may be eligible for:If you can meet the below criteria, you’ll have a much better chance of getting approved:
We’re 90% LVR investment loan experts and we know exactly how to build a strong case so you have the best chance of getting approved the first time around.
Call 1300 889 743 or complete our free online assessment form today.
) [52] => stdClass Object ( [post_id] => 436 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Older warehouses are often converted into trendy apartments by developers and then sold to the public. Some prominent examples of this style of building are the Sydney Woolstores conversion in Ultimo / Pyrmont or the stylish Leicester House office conversion in Flinders Lane in Melbourne.
Although the apartments are often trendy, they have large open plan living expenses that may be difficult to heat and to furnish so they do not suit every buyer. Warehouse conversions are also known as industrial conversions or commercial property conversions. From a lenders point of view these are are the same style of building and the same lending policies generally apply.
How much can you borrow?
Note: You may be able to borrow up to 95% for a converted warehouse on a case by case basis. The banks favour apartments where the conversion has been fully completed and that are in a good location with strong market demand.
Do you need help financing your purchase? Our mortgage brokers know which banks can approve a loan for the property that you are buying. Please call us on 1300 889 743 or enquire online to find out how we can help you.
Why are the banks so conservative?
Converted warehouses may be in an industrial location, have design features that have limited appeal or have an inflated sales price due to overzealous marketing that all cause the banks to see them as a higher risk for a home loan.
In addition to this many of the converted properties are close to or in the CDB of a captial city. If the conversion contains more than 30 units then some lenders will consider it to be a high rise building and will limit the amount you can borrow. Thankfully, not all lenders have this policy and we are normally able to finance converted units in the inner city.
Finance is available for apartments that are very similar to standard apartments whereas strange or unique designs tend to have fewer lenders willing to use them as security for a mortgage. That being said, we are usually able to find a lender that can help as long as you are in a strong financial position and have a good income.
Finance your warehouse conversion
If you are interested in buying or refinancing a property that is a warehouse conversion then please call us on 1300 889 743 or enquire online and we can help you work out how much you can borrow. Our mortgage brokers have financed all sorts of properties that have been converted for residential use and so they can quickly find you a suitable lender with a competitive home loan.
[wbcr_snippet id="73665"] ) [53] => stdClass Object ( [post_id] => 32159 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Congratulations!
Your home loan is settled! Now the real work of paying it off begins.
Properly managing your home loan going forward could potentially save you loads of cash and time.
Annual reviews and regular self-assessments are a couple of ways to manage your home loan but there are more strategies that can help.
Manage your mortgage: Slash it fast!
Let's face it: your home loan is easily the biggest debt you're going to have.
Therefore, you'll want to pay it down as quickly as you can.
Here are proven ways to whittle it down fast without sacrificing your lifestyle:
Keep an eye on your home loan
Yes, it's easy to be complacent once you've reached settlement. The harsh reality is, you now have a mortgage you need to pay it off over the next 25-30 years.
Self assessment of your personal situation is a part of managing your home loan but an easier and more effective way is to have a mortgage broker perform an annual review.
Annual reviews are an excellent way of managing your home loan and it can potentially save you thousands of dollars.
Mortgage brokers can check current lender rates and make sure you remain in a competitive interest rate. They can also assess whether your personal situation has or will change in the future and find a solution accordingly.
Extending interest only repayments
If your interest only period is about to end, you may be able to extend it depending on your lender. However, please note that the lender will likely complete another credit assessment.
Make sure you speak with a professional financial advisor before you move ahead with this option. They can also provide financial advice for your ideas and plans in managing your home loan.
If you don't want to extend the interest only period, switching to P&I repayments will help you pay off the home loan quicker.
Using equity to buy an investment property
After you've been paying your mortgage for some time, it's worth looking at the amount of equity you currently have. This is especially the case if your property is located in an area where prices have grown recently.
If you've accumulated enough equity, you may be able to buy an investment property. Using the equity as a deposit, you csn avoid paying Lenders Mortgage Insurance (LMI). Lenders generally charge LMI when you borrow more than 80% of the property value.
Banks prefer lending to borrowers who have equity and so you're more likely to get approved for an investment loan.
Increasing your loan amount
If you're in need of extra cash, it may be a better option to increase your loan amount than to take out a separate loan.
A benefit from this is that you'll be able to leverage your equity and pay a cheaper home loan interest rate than the usually higher personal loan rates.
As long as you can show that you can afford it, most lenders will allow you to increase your loan size. Please note that banks may charge you a variation fee of around $300 to increase your loan size. However, this can vary between lender.
Managing your home loan: Refinancing
A big part of managing your home loan is considering whether or not you need to refinance.
Refinancing your home loan is simply switching from one lender to another. Since you're applying for a home loan all over again, you'll need all the same things you needed when you initially got the home loan.
However, don't refinance unless you're sure you'll be better off. Only refinance if it helps you achieve your mortgage goals such as getting a lower interest rate and associated costs and better service.
If you've been paying off your mortgage for 2 years or more, your interest rate may not be competitive anymore which is it's why it's important to have an review at least once every two years.
Our mortgage brokers specialise in refinancing home loans. They have the credit expertise to properly assess your situation and help you find the right lender for your needs.
Speak with one of our mortgage brokers by calling us on 1300 889 743 and we can discuss your options. You can also complete our free online assessment form and one of us will contact you instead.
Discharge of mortgage
To refinance your home loan, you'll first need to notify your current lender and fill in a mortgage discharge form.
Please note that lenders can take up to four weeks to process a discharge.
For instructions on requesting a discharge as well as links to different lender discharge forms, you can check out the mortgage discharge forms page.
) [54] => stdClass Object ( [post_id] => 454 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Note: Most lenders restrict the amount you can borrow quite significantly if they approve the loan at all. In some cases, you may be able to borrow up to 95% of the property value, depending on the nature of the property.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will call you to let you know if you qualify for a loan.
) [55] => stdClass Object ( [post_id] => 23249 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Chiropractors are low risk borrowers who can take advantage of exclusive home loan discounts including:
Are you eligible to reap these home loan rewards?
Call us today on 1300 889 743 or complete our free online assessment form to find out!
) [56] => stdClass Object ( [post_id] => 19726 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>A simple as an annual review from a mortgage broker can potentially save you thousands of dollars and a lot of headache.
A home loan health check can unlock a world of benefits including:
Not a Home Loan Experts' client?
We can still complete a free review of your mortgage as a once off check!
Speak with one of our experienced mortgage brokers today by calling 1300 889 743 or by completing our online enquiry form.
Discover why we're the leading specialist mortgage broker in Australia.
) [57] => stdClass Object ( [post_id] => 1352 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Most lenders require you to prove that you have saved a 5% deposit.
Luckily, there are some lenders that offer ‘non-genuine savings’ loans if you can meet standard lending criteria. Generally speaking, you can:
Call us on 1300 889 743 or enquire for free online and one of our mortgage brokers will help you get approved.
) [58] => stdClass Object ( [post_id] => 62199 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Most Australians are being priced out of the housing market as the costs soar high. An increasing number of people are looking at existing apartments or those for sale off the plan as a very viable option.
These ‘off the plan‘ purchases are a popular choice among investors because the investor will often get a discount below the market value, and the property may appreciate before settlement occurs.
Key things you should consider:
Engaging a team of experts and doing your research is the best way to get into off-the-plan apartment purchases. You can find more tips here.
One of our mortgage brokers can help you understand the terms of your contract and entitlements – as well as knowing the signs of a reputable and trustworthy developer.
Call us on 1300 889 743 or complete our free online assessment form to talk to a mortgage broker.
) [59] => stdClass Object ( [post_id] => 49365 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>A kerbside valuation, also known as a "drive-by valuation," is a method used by banks and lenders to estimate the value of a property by inspecting its exterior and surrounding neighborhood from the street. This valuation type is more detailed and accurate than a desktop valuation but less comprehensive than a full property valuation. They are commonly used to confirm the condition of a property when the risk is deemed minimal, such as in cases where the Loan-to-Value Ratio (LVR) is below 80%, or when historical property data supports the valuation.
This valuation method is one of three main ways banks assess property value:
Kindly contact us on 1300 889 743 or complete our short free assessment form and we're usually able to get a free upfront valuation for your property.
) [60] => stdClass Object ( [post_id] => 78193 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] => There’s another new state government in New South Wales – and that means another new stamp duty scheme. On 1 July, the outgoing Liberal government’s First Home Buyer Choice is expected to be replaced with Labor’s Fresh Start plan, which features lower house price caps but also full exemptions from stamp duty for first-home buyers (FHBs) purchasing homes worth $800,000 or less. The NSW stamp duty reform leaves potential FHBs with three choices:
The overview
Sorting through all the factors to reach a decision can be complicated, but it is possible to set some guidelines. In general:Still not sure which lender is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
We will first discuss your situation, complete a pre-assessment and find a couple of suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [62] => stdClass Object ( [post_id] => 32408 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>By far the most effective way to pay off your loan sooner is to increase the size of your repayments.
For example, if you were to pay just $100 extra every month on a $500,000 home loan over 30 years, you'd save more than $40,000 in interest!
Not only that, you'll have paid off the entire 30 year mortgage in about 28 years!
You can use the extra repayment calculator to discover for yourself just how much you can save.
You can make use of a redraw facility that’ll allow you to make extra repayments towards your loan. If you decide to leave the funds untouched, it will help you offset the interest charges on your loan since interest is only charged against the loan balance.
This means that your additional repayments will go more towards paying off the principal amount and lesser towards the interest charges.
Take action! You can increase the size of your repayments over the phone with the bank or call us on 1300 889 743 and we'll help you.
) [63] => stdClass Object ( [post_id] => 22499 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Thanks to climate change and new developments popping up in formerly rural areas, coming across a bushfire prone property in Australia is becoming more common.
How much can I borrow?
Other than going down the guarantor route, we may be able to order multiple valuations with different lenders and then proceed with a lender that won’t give the property a high risk rating.
Call 1300 889 743 or complete our free assessment form to find out if you qualify for a bushfire prone property loan.
Can I get approved?
Getting approved for a mortgage really depends on the zoning of the property.
The potential for attack is broken up into six Bushfire Attack Levels (BAL), each explaining the threat and the appropriate prevention measures to implement for property protection.
If your property is in the Flame Zone then you're unlikely to be able to obtain finance.
We know how the banks will assess your property so please call us on 1300 889 743 or fill in our free assessment form to discuss your situation with one of our mortgage brokers.
) [64] => stdClass Object ( [post_id] => 63946 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
In the past few weeks, Australia’s major banks have begun raising their long-term fixed interest rates. Experts predict that interest rates might get adjusted higher in July again. So, as borrowers, it makes perfect sense to ask, “Should I fix my loan now?” With the increase in rates, it is well documented that as time passes, property prices are only going up.
You could be saving thousands of dollars by locking your loan on existing low fixed interest rates before the cost of other fixed terms hike. On top of that, while you’re waiting to save a deposit, both the property prices and interest rates will have hiked substantially. Now, before you choose to fix your loan now, you might be asking yourself what kinds of terms should you choose? A three year fixed rate or a five year fixed rate? If you are curious about the benefits of fixing your home loan interest, here are some of the benefits:
Regarding the terms of the loan, we suggest you do further research with the help of our website.
But the more efficient and safer way would be to call us on 1300 889 743 or fill in our online enquiry form today to make the right decision at the right time.
) [65] => stdClass Object ( [post_id] => 9626 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Australian real estate has been popular with British expats and investors for a long time: many like to move here, either temporarily or permanently. At the moment, Australia is also one of the safest property markets in the world.
When applying for a mortgage in Australia, citizens and permanent residents of the UK are treated just like other foreign citizens or temporary residents. This is unless you are the spouse or partner of an Australian citizen or permanent resident, and are buying a property together as “joint tenants”.
This is not to be confused with “tenants in common", as this is a different legal status of property ownership.
As a foreigner, you will need to apply for Australian government approval. Once you have this, purchasing either residential or investment properties is possible. However, restrictions apply for foreigners who become temporary residents.
If you would like to know how these restrictions on Australian mortgages will apply to you, call us on 1300 889 743 (if outside Australia call +61 2 9194 1700) or enquire online. ) [66] => stdClass Object ( [post_id] => 30716 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Banks may assess a boarding house as either being a residential property or a commercial property.
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers about the rooming house you're looking to buy.
Is the boarding house currently being used as a standard home?
A boarding or lodging house has up to 5 or 6 bedrooms that are rented out separately and another room for you to live in separately.
Some lenders may limit you to borrowing a maximum of 80% of the purchase price for a boarding house with 5 bedrooms, even if it is currently being used as a standard home!
Luckily, one of our lenders will allow you to borrow up to 95% of the purchase price (including the cost of Lenders Mortgage Insurance) if the boarding house is currently being a used as a home.
What if I want to use the boarding house as an investment property?
If you plan to actually use the property as a boarding house, lenders will typically be more restrictive with LVR on a boarding house mortgage if more than 51% of the property will be used to generate income.
The loan may also fall under commercial lending and you’ll up for higher interest rates.
However, that means if the boarding house has 5 bedrooms and the property can be used as a residential property, you could potentially rent out just two of the rooms and still be able to borrow up to 95% of the property value.
That's because less than half of the property is being used to produce income.
This is also a great way for families to earn extra income on the side.
Is the boarding house purpose-built?
If you're buying a property that is currently being used as a boarding house and is purpose-built, you’ll generally need to go through business lending or the commercial arm of a bank to get approved.
Purpose-built generally means it can't be easily reverted back to a residential property if need be.
The reason is that the boarding house doesn’t have wide market appeal, which is crucial if the bank ever needs to sell the property in the event you default on your mortgage.
The bank will also need to work out if you're relying solely on rental income to repay the mortgage (rather than also being employed), in which case they'll want to know if you've had success in running a similar operation in the past.
This includes asking to see a business plan and forecasting.
Commercial loans also come with higher interest rates than a typical residential loan.
) [67] => stdClass Object ( [post_id] => 46766 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>If you are releasing up to 80% of the value of your property in equity, you generally only need to provide a stated purpose, as long as it's an acceptable to the bank.
Some banks are more conservative and will require a letter from a financial planner or accountant if you're planning to invest in shares or managed funds.
Typically, this is if you are releasing 90% of the property value or if your situation is out of the ordinary, such as requiring a low doc loan to prove your income.
Please call us on 1300 889 743 or complete our online enquiry form.
We know lenders that do not require a letter or other evidence confirming the purpose of your home loan cash out.
) [68] => stdClass Object ( [post_id] => 20508 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Veterinarians are seen as low risk borrowers and some lenders are willing to go the extra mile to get your business. You may be eligible to:
Find out if you qualify for a discount by calling 1300 889 743 or by filling in our free assessment form.
) [69] => stdClass Object ( [post_id] => 310 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>How can my parents help me?
Did you know that around 60% of first home buyers receive some sort of help from their parents?
If they're not in a position to provide a guarantee, your mum and dad can gift you the money for the deposit instead.
Our mortgage brokers are specialists in low deposit home loans for first home buyers.
Please call us on 1300 889 743 or fill in our free assessment form to find out how we can help.
Will I pay a higher interest rate by using a guarantor?
Actually, you’ll probably get a rate discount!
This is because the additional security offered by your parents actually lowers your risk moreso than someone borrowing 95% of the property value.
If your income, job and credit history are all stable then you’re a highly sought-after borrower.
Banks are increasingly recognising the value of first home buyers.
You may qualify for discounted interest rates. and waivers on loan approval, application and valuation fees.
Head to our interest rates page for the current special offers from our lenders.
) [70] => stdClass Object ( [post_id] => 18546 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Need a home loan but not sure where to start? Have a question about the home buying process? Maybe you just want to get an idea if you qualify.
At Home Loan Experts, we understand that you have busy lives so you're not always able to call our 1300 889 743 number during business hours.
That's why our team of specialist mortgage brokers are available online after work hours and during weekends to answer your burning questions.
Alternatively, you can fill in our online enquiry form and we can get back to you with a free assessment. ) [71] => stdClass Object ( [post_id] => 27546 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
97% home loans are essentially 95% home loans with the cost of Lenders Mortgage Insurance (LMI) added on top of your mortgage, saving you thousands upfront.
Borrowing 95-97% of the property value requires you to meet strict requirements:
Do you need help getting a 97% home loan?
We're low deposit specialists who understand high LVR policies.
Call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers can tell you if you qualify.
) [72] => stdClass Object ( [post_id] => 44780 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Find out if you're in a position to refinance an investment loan by calling 1300 889 743 or by completing our online enquiry form today.
) [73] => stdClass Object ( [post_id] => 20502 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Dentists and other dental practitioners may be eligible for special discounts on their home loan, including:
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you qualify for special home loans for dentists.
) [74] => stdClass Object ( [post_id] => 14956 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>We can assist you to apply for a mortgage if you meet the following criteria:
Did you know some lenders only look at your personal credit file?
Please call us on 1300 889 743 or enquire online and one of our specialist mortgage brokers will help you to get your mortgage approved!
) [75] => stdClass Object ( [post_id] => 441 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Most banks restrict the amount that you can borrow to 70-80% of the property value.
Borrowing more is possible if you apply with the right lender or if you have a , which allows you to borrow up to 100% of the property value.
Please call us on 1300 889 743 or enquire online and our mortgage brokers will let you know how much you can borrow for your specific property.
) [76] => stdClass Object ( [post_id] => 45128 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Firefighters and emergency services workers risk their lives on a daily basis just to earn a living but some lenders don't take a common sense approach when assessing your income and allowances.
This can signficantly reduce your borrowing power but, by presenting a strong case, you may qualify for the following and much more:
Call 1300 889 743 or fill in our free assessment form to discover if you qualify for a firefighter ome loan.
) [77] => stdClass Object ( [post_id] => 28361 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>To give yourself a good chance of getting your low-deposit investment loan application approved, make sure you have:
Our mortgage brokers are 85% investment loan specialists and, with their vast industry experience and knowledge, we can prepare a strong mortgage application for you with the right lender.
Call us on 1300 889 743 or fill in our free assessment form today.
Can I take out an 85% investment loan with a major bank?
Yes, you can.
Recently, the Australian Prudential Regulation Authority (APRA) introduced some changes that now require banks and lenders to hold a specific amount of capital in the event of a significant property market crash.
APRA's concerns over the level of lending to investors have effectively meant that banks are making it tougher for investors to borrow more than 80% LVR. In fact, a couple of banks have capped their investment loans at 80% LVR.
Despite this, you can still get an 85% investment loan from a few major banks and lenders.
) [78] => stdClass Object ( [post_id] => 72434 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>NAB receives one of our top recommendations for refinancing. Whether you are looking to switch from another lender or want more affordable rates on your NAB home loan, they can help. For example, you can enjoy 100% offset account status on variable loans without paying fees or taking out additional credit.
NAB has a user-friendly mobile app that helps make everything more accessible by giving updates about monthly payments.
NAB Refinance Offers
$2,000 Cashback
The $2,000 NAB home loan refinance cashback offer is available on all of its home loan products.
Eligibility:
We can help you get more cashback from NAB and other lenders. Contact us at 1300 889 743 or fill in our free online assessment form.
) [79] => stdClass Object ( [post_id] => 53086 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Essential services employees like paramedics and ambulance officers can ideally borrow:
Speak to our mortgage brokers by calling us at 1300 889 743 or filling in our free assessment form so we can assess your overall situation to get you the best home loan.
) [80] => stdClass Object ( [post_id] => 33200 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Pepper Money has introduced a new loan product in response to borrowers seeking greater flexibility in managing their home loans amid changing interest rates. This innovative product offers borrowers a two-year fixed term loan that allows them to:
The product is available to new owner-occupier, investor, interest-only, and principal-and-interest loan applicants who qualify. You must apply before 12 May 2023.
Act fast and don't miss out on this time-limited opportunity! Submit your loan application before 12 May 2023, to take advantage of this special offer! Call us on 1300 889 743 or complete our free online assessment form today!
) [81] => stdClass Object ( [post_id] => 29628 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Did you know that some banks treat Australian expats living in Japan the same as they would an Australian resident?
Use the How Much Can I Borrow Calculator, enter your financial details and discover how much you can borrow.
Give us a call on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form and one of our experienced mortgage brokers will contact you to help you find a suitable mortgage deal for you.
) [82] => stdClass Object ( [post_id] => 29638 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Call 1300 889 743 (+ 61 2 9194 1700 if you're overseas) to speak with one of our mortgage brokers or complete our free online assessment form and we can help you apply with the right lender so you don't get assessed as a foreigner.
) [83] => stdClass Object ( [post_id] => 29781 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our easy free online assessment form to speak with one of our mortgage brokers who can help you get approved with the right lender.
) [84] => stdClass Object ( [post_id] => 127 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
What do I need to look out for?
Low doc loans are a higher risk to financial institutions, so they tend to place more significant restrictions on this type of loan.
There are very few lenders that offer low doc solutions, while others have significantly increased the interest rates they are applying.
We’ve outlined a list of potential issues to look out for:
Don't get caught out by these potential restrictions.
Speak to one of our specialist mortgage brokers by calling 1300 889 743 or enquiring online.
How do I get approved for a low doc mortgage?
Getting approval for your loan isn't as easy as it used to be.
We use the following three-step process to help you to find a lender:
Did you know that if you provide partial proof of your income (e.g. an old tax return) that some lenders are now required to ask you for full financial statements and tax returns for all entities?
Pro-tip: A lender cannot ignore a document he sees when completing their assessment. To avoid this issue, only provide the documents requested by the lender, nothing more!
) [85] => stdClass Object ( [post_id] => 30075 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our easy free online assessment form to speak with one of our mortgage brokers who can help you get approved with the right lender.
) [86] => stdClass Object ( [post_id] => 30828 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Need help applying for a home loan in Australia?
Speak with one of our mortgage brokers that specialise in expat home loans by calling us on 1300 889 743 (+61 2 9194 1700 if you're outside of Australia) or by completing our free online assessment form. They can help you find a suitable lender that can meet your home loan needs.
) [87] => stdClass Object ( [post_id] => 3156 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Unlike 90% or 95% home loans, the qualifying criteria is less strict and the Lenders Mortgage Insurance is significantly cheaper when it comes to an 85% home loan.
In fact, the LMI premium can even be waived!
Two of our lenders can help!
This is an unbelievable discount that could save you thousands of dollars in mortgage insurance!
You can read the eligibility criteria on our no LMI page.
Interestingly, if you meet the strict lending criteria, you can even qualify for a 100% home loan with no LMI and no guarantor available exclusively for professionals (higher interest rate applies).
Call us on 1300 889 743 or enquire online for more information.
) [88] => stdClass Object ( [post_id] => 41955 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Getting your home loan approved as a self-employed doctor depends on your employment type:
Our mortgage brokers are specialists in helping doctors with unique income types to not just get approved but to qualify for exclusive home loan discounts not available to the general public.
Call us on 1300 889 743 or fill in our online enquiry form to find out if you qualify for a self employed doctor home loan.
) [89] => stdClass Object ( [post_id] => 529 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>What can you do to turn a small drop in interest rates into large savings on your home loan?
If you can handle your current repayments, this page will give you some great tips on how to save money on your loan.
Maintain your current repayments
Did you know that making additional repayments on your home loan is the best way to save money?
The problem is that when you make additional repayments you have to sacrifice the money you use to fund your lifestyle.
But this is not the case when interest rates drop! If you keep making the same repayments, you end up paying more off your loan without having to alter your budget. You are simply accustomed to maintaining those repayments.
An example
If you have a home loan of $400,000 at 8% and are making the minimum principal and interest repayments then you would be paying $2,935 / month.
If rates were to drop 1% then your repayments would reduce to $2,661 / month which would save you $98,585 over the term of your loan. But if you were to continue paying $2,935 / month instead of making the lower repayments then the overall saving would be a massive $256,960 in interest over the term of the loan!
No, that isn't a typo, check the math for yourself!
Pay more if you can
If you still have plenty of disposable income then why not pay even more? The higher your repayments, the faster you will repay your loan.
With the above example, if you were to pay an additional $300 / month then your savings would increase to $346,082!
How does it work?
It's actually quite simple! By making higher repayments you pay off the loan faster and are therefore charged less in interest. With the above example you would pay off a 30 year loan in 22.7 years or by paying an additional $300 / month you would pay it off in 18.3 years.
Did you know that for a $400,000 loan at 8% over 30 years you would actually make repayments of $1,056,620? So in other words for a $400,000 loan you would actually pay $656,620 in interest!
This is why making extra repayments and thus paying off the loan as soon as possible, is so important.
When is this not suitable?
Fixed rate loans: Fixed loans have limits in the amount of additional repayments that you can make during the fixed rate period.
Most lenders will charge a fee if you pay more than $10,000 off your loan each year.
You can ask your lender to take extra repayments of up to $750 / month without the risk of going over your $10,000 limit.
Some fixed rate loans are set up with a variable portion so that you can make unlimited additional repayments on that part of the loan.
Investors: Generally, most investors prefer to save more money to invest, rather than repay their investment loan.
If you have a non-tax deductible debt such as a home loan, car loan or credit card then pay those off first.
If you have no other debts than your investment loan, then make the additional repayments into your offset account if you have one.
If not then talk to us so we can give you specific advice for your loan.
Interest only loans: If you have an interest only loan then maybe it is time to consider switching to principal and interest repayments! How do you know if your loan is interest only? Just check your statement to see if your balance is reducing each month or if the balance is staying the same. If you are not sure then give us a call.
How to increase or maintain your repayments
Most lenders can amend your repayment details over the phone. We've listed the contact details of some of the common lenders our customers have loans with:
For example. call your lender, quote your account number and ask them how much your repayment was for September 2008. Then just ask them to continue taking those repayments.
They will inform you of whether you need to fill in any forms or fax them a letter.
If you do have to fax them a letter, don't forget to put your full name, account number, the date, the exact amount you would like your repayments to be and to get all borrowers on the loan to sign the letter.
This is not financial advice
This is general advice about saving money on your home loan not specific financial advice.
Please refer to an accountant or financial planner for financial advice. If you have a question about your home loan, please feel free to call us on 1300 889 743 or enquire online.
) [90] => stdClass Object ( [post_id] => 20487 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Normally if you borrow over 80% of the property value then the lender will charge you a fee known as LMI. This can be quite expensive and works out to be around $24,000 for a 90% loan on a $1,000,000 property.
But what if you could have it waived?
As a legal professional, lenders will waive Lenders Mortgage Insurance if you’re borrowing up to 90% of the property value.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can qualify for a professional discount.
) [91] => stdClass Object ( [post_id] => 20489 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Up until May 2017, a couple of lenders began offering 90% waived LMI to eligible mining engineers earning a high income following a max exodus in September 2016.
Again, the reason was due to the lack of confidence that banks have in the mining, energy and resources sector.
Banks felt there was a high risk in offering mortgage discounts because of fluctuating job opportunities where mining companies were here one day and gone the next.
During these cycles, the chances of stable employment are under threat.
Despite waived LMI being no longer available at 90% LVR, you may still avoid LMI at 85% of the property value.
Of course, we can also help to negotiate significant interest rate discounts depending on your loan size and the risk of your application.
Want to save thousands off your home loan as a mining engineer? We have a lender on our panel that offers lender-paid LMI.
Speak with our mortgage brokers by calling 1300 889 743 or fill in our free assessment form today.
) [92] => stdClass Object ( [post_id] => 5596 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Use this calculator to work out how much you’re currently putting away and how quickly you’ll be able to reach your deposit goal. Saving just a little more every week or month can make a huge difference and help you buy a home sooner.
If you need help with getting a home loan, call 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [93] => stdClass Object ( [post_id] => 44601 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Refinancing means paying off your existing home loan by taking out a new loan, be it with your current lender or through a different one. If you’re looking for a lower interest rate, it’s logical to assess your current home loan before refinancing, especially with banks offering refinance cashback and waived application fees. The refinance calculator helps you determine how much money and loan-term time you could potentially save if you switched home loans. Our expert mortgage brokers can help you refinance your home loan. Call Home Loan Experts at 1300 889 743 or enquire online.
) [94] => stdClass Object ( [post_id] => 515 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
We’ve put together a full list of real estate terms and jargon that are commonly used in Australia.
If you don’t understand a particular term then please call us on 1300 889 743 or complete our free assessment form and we will answer your question.
) [95] => stdClass Object ( [post_id] => 43632 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Play around with the figures and then speak to you mortgage broker to find out if you benefit from an interest only loan.
Call 1300 889 743 or complete our online enquiry form to discover if you qualify.
) [96] => stdClass Object ( [post_id] => 4870 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>This calculator allows you to compare the actual cost of two different mortgages.
Input the details of your loan, including the loan amount, interest rate and ongoing fees and you can calculate the cost of the loan over the total term.
Call us on 1300 889 743 or complete our free assessment form if you're ready for a home loan.
) [97] => stdClass Object ( [post_id] => 35751 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Since you’re earning an income in a foreign currency, the first thing you’ll have to work out is whether your currency will be accepted. The most common currencies we deal with include:
For the above currencies, there is a good chance that we will be able to get you approved for a loan. But what if you earn an income in a currency that falls outside of this list?
You may still be able to qualify for a mortgage although restrictions and conditions may apply, such as restricting your borrowing power to 80% of the property value (Loan To Value Ratio).
These currencies may include:
If your currency is not listed then please contact us as some of our lenders accept almost any currency.
Keep in mind that investment policy changes on a regular basis, including which currencies lenders will accept if expats and foreign investors want to buy property in Australia.
Reach out to our expat mortgage brokers by calling us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or completing our free assessment form.
) [98] => stdClass Object ( [post_id] => 29295 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Australians living in New Zealand is one of the most common expats we deal! We know how to build a strong case so you can borrow at the maximum LVR.
A hidden method that not many mortgage brokers know how to do is to find a lender that will use New Zealand tax rates rather than Australian tax rates so more of your income can be considered, vastly improving your borrowing power.
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our easy free online assessment form to speak with one of our mortgage brokers who can help you get approved with the right lender.
) [99] => stdClass Object ( [post_id] => 98019 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
We’ve put together a full list of real estate terms and jargon that are commonly used in Australia.
If you don’t understand a particular term then please call us on 1300 889 743 or complete our free assessment form and we will answer your question.
) [100] => stdClass Object ( [post_id] => 98032 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Up until May 2017, a couple of lenders began offering 90% waived LMI to eligible mining engineers earning a high income following a max exodus in September 2016.
Again, the reason was due to the lack of confidence that banks have in the mining, energy and resources sector.
Banks felt there was a high risk in offering mortgage discounts because of fluctuating job opportunities where mining companies were here one day and gone the next.
During these cycles, the chances of stable employment are under threat.
Despite waived LMI being no longer available at 90% LVR, you may still avoid LMI at 85% of the property value.
Of course, we can also help to negotiate significant interest rate discounts depending on your loan size and the risk of your application.
Want to save thousands off your home loan as a mining engineer? We have a lender on our panel that offers lender-paid LMI.
Speak with our mortgage brokers by calling 1300 889 743 or fill in our free assessment form today.
) [101] => stdClass Object ( [post_id] => 98033 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Normally if you borrow over 80% of the property value then the lender will charge you a fee known as LMI. This can be quite expensive and works out to be around $24,000 for a 90% loan on a $1,000,000 property.
But what if you could have it waived?
As a legal professional, lenders will waive Lenders Mortgage Insurance if you’re borrowing up to 90% of the property value.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can qualify for a professional discount.
) [102] => stdClass Object ( [post_id] => 98135 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
A kerbside valuation, also known as a "drive-by valuation," is a method used by banks and lenders to estimate the value of a property by inspecting its exterior and surrounding neighborhood from the street. This valuation type is more detailed and accurate than a desktop valuation but less comprehensive than a full property valuation. They are commonly used to confirm the condition of a property when the risk is deemed minimal, such as in cases where the Loan-to-Value Ratio (LVR) is below 80%, or when historical property data supports the valuation.
This valuation method is one of three main ways banks assess property value:
Kindly contact us on 1300 889 743 or complete our short free assessment form and we're usually able to get a free upfront valuation for your property.
) [103] => stdClass Object ( [post_id] => 98139 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] => Rezoning property can be highly lucrative and there are two main reasons why:
) [104] => stdClass Object ( [post_id] => 98170 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>
Yes, you can. It’s quite common for couples to come into a relationship with one of them already owning a property.
Other couples choose to buy a property in just one name for asset protection reasons.
The problem is some banks won’t accept two borrowers, one owner and may knock back your home loan.
"Example of two owners, one borrower"
Do you need help finding a lender that will accept your loan structure?
Call us on 1300 889 743 or complete our free online assessment form and one of our specialist mortgage brokers will go through your options.
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A simple as an annual review from a mortgage broker can potentially save you thousands of dollars and a lot of headache.
A home loan health check can unlock a world of benefits including:
Not a Home Loan Experts' client?
We can still complete a free review of your mortgage as a once off check!
Speak with one of our experienced mortgage brokers today by calling 1300 889 743 or by completing our online enquiry form.
Discover why we're the leading specialist mortgage broker in Australia.
) [106] => stdClass Object ( [post_id] => 98190 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>What can you do to turn a small drop in interest rates into large savings on your home loan?
If you can handle your current repayments, this page will give you some great tips on how to save money on your loan.
Maintain your current repayments
Did you know that making additional repayments on your home loan is the best way to save money?
The problem is that when you make additional repayments you have to sacrifice the money you use to fund your lifestyle.
But this is not the case when interest rates drop! If you keep making the same repayments, you end up paying more off your loan without having to alter your budget. You are simply accustomed to maintaining those repayments.
An example
If you have a home loan of $400,000 at 8% and are making the minimum principal and interest repayments then you would be paying $2,935 / month.
If rates were to drop 1% then your repayments would reduce to $2,661 / month which would save you $98,585 over the term of your loan. But if you were to continue paying $2,935 / month instead of making the lower repayments then the overall saving would be a massive $256,960 in interest over the term of the loan!
No, that isn't a typo, check the math for yourself!
Pay more if you can
If you still have plenty of disposable income then why not pay even more? The higher your repayments, the faster you will repay your loan.
With the above example, if you were to pay an additional $300 / month then your savings would increase to $346,082!
How does it work?
It's actually quite simple! By making higher repayments you pay off the loan faster and are therefore charged less in interest. With the above example you would pay off a 30 year loan in 22.7 years or by paying an additional $300 / month you would pay it off in 18.3 years.
Did you know that for a $400,000 loan at 8% over 30 years you would actually make repayments of $1,056,620? So in other words for a $400,000 loan you would actually pay $656,620 in interest!
This is why making extra repayments and thus paying off the loan as soon as possible, is so important.
When is this not suitable?
Fixed rate loans: Fixed loans have limits in the amount of additional repayments that you can make during the fixed rate period.
Most lenders will charge a fee if you pay more than $10,000 off your loan each year.
You can ask your lender to take extra repayments of up to $750 / month without the risk of going over your $10,000 limit.
Some fixed rate loans are set up with a variable portion so that you can make unlimited additional repayments on that part of the loan.
Investors: Generally, most investors prefer to save more money to invest, rather than repay their investment loan.
If you have a non-tax deductible debt such as a home loan, car loan or credit card then pay those off first.
If you have no other debts than your investment loan, then make the additional repayments into your offset account if you have one.
If not then talk to us so we can give you specific advice for your loan.
Interest only loans: If you have an interest only loan then maybe it is time to consider switching to principal and interest repayments! How do you know if your loan is interest only? Just check your statement to see if your balance is reducing each month or if the balance is staying the same. If you are not sure then give us a call.
How to increase or maintain your repayments
Most lenders can amend your repayment details over the phone. We've listed the contact details of some of the common lenders our customers have loans with:
For example. call your lender, quote your account number and ask them how much your repayment was for September 2008. Then just ask them to continue taking those repayments.
They will inform you of whether you need to fill in any forms or fax them a letter.
If you do have to fax them a letter, don't forget to put your full name, account number, the date, the exact amount you would like your repayments to be and to get all borrowers on the loan to sign the letter.
This is not financial advice
This is general advice about saving money on your home loan not specific financial advice.
Please refer to an accountant or financial planner for financial advice. If you have a question about your home loan, please feel free to call us on 1300 889 743 or enquire online.
) [107] => stdClass Object ( [post_id] => 98207 [meta_key] => add_site_layouts_0_post_editor_option [meta_value] =>Use this calculator to work out how much you’re currently putting away and how quickly you’ll be able to reach your deposit goal. Saving just a little more every week or month can make a huge difference and help you buy a home sooner.
If you need help with getting a home loan, call 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [108] => stdClass Object ( [post_id] => 55630 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Ultimately, both principal and interest vs interest-only loans can be suitable based on your individual situation and goals.
Speaking to a mortgage broker can help to clarify which option is best for you.
Talk to one of our award-winning specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form.
) [109] => stdClass Object ( [post_id] => 73835 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers can help you get pre-approval sooner so that you are a step closer to buying your dream home or investment property. They will also help you get a competitive interest rate.
If you are looking for refinance or equity release, then our mortgage brokers can get you access to a wide range of products and services from a panel of over 50 lenders.
Our brokers have considerable knowledge and credit expertise, they can assess your situation better and recommend products accordingly.Our brokers have considerable knowledge and credit expertise, they can assess your situation better and recommend products accordingly.
Call us on 1300 889 743 or fill in our free online assessment form to get in touch with one of our expert mortgage brokers and discuss your situation.
) [110] => stdClass Object ( [post_id] => 36720 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>If your land is going to be compulsorily acquired by the government, we can’t help you with legal and financial advice.
However, we can help you refinance your existing mortgage and negotiate a great interest rate on your behalf.
Certain properties can be difficult to finance, particularly if you’re from a regional or rural area.
Luckily, we’re specialists in getting home loans approved for unique property types.
Please call us on 1300 889 743 or complete our free online assessment formT to speak with one of our mortgage brokers about your situation.
) [111] => stdClass Object ( [post_id] => 34282 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Need help with your home loan?
Whether you need a mortgage or you’re looking to refinance, mortgage brokers are usually free! You can read more about the services that a broker provides on the ‘What Is A Mortgage Broker?‘ page. Are you looking you the best mortgage brokers? Here’s how you find one! Call us on 1300 889 743 or complete this free assessment form. ) [112] => stdClass Object ( [post_id] => 37484 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => TSS visa mortgages are available if you choose the right lender. By presenting a strong case, you can even qualify for significantly reduced interest rates and other home discounts. We have helped thousands of temporary Australian residents on the following visa types:) [113] => stdClass Object ( [post_id] => 70134 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Non-bank Lenders
There are some trade-offs when you apply with non-bank lenders. Their interest rates are often higher, they have more postcode restrictions on where you can buy a property with their loans, and you may get to borrow only up to 80% of the property value.
At Home Loan Experts, we have over 50 lenders on our panel, including non-banks and specialist lenders. Call us on 1300 889 743 or enquire online for free and we can help you find the right lender.
) [114] => stdClass Object ( [post_id] => 1075 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>If a Home Loan Experts mortgage broker is arranging your home loan, please email your signed letter through to them.
Which lenders will accept a gifted deposit? Call us on 1300 889 743 or complete our free assessment form.
) [115] => stdClass Object ( [post_id] => 4468 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
We're specialist mortgage brokers that can help you get your mortgage approved.
If your lender is asking you to sign a stat dec that you believe is unreasonable, talk to us and we can help you find a bank that doesn't have this requirement.
If you'd like to make an appointment or speak to a mortgage broker, please call 1300 889 743 or complete our free assessment form today.
Still have questions? Feel free to comment below and we'll get back to you as soon as possible.
[sg_popup id=65221] ) [116] => stdClass Object ( [post_id] => 84407 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>The following lenders use Lenders Mortgage Insurance (LMI):
Although our Lenders Mortgage Insurance calculator doesn't take all of these lenders into account, you can expect that the LMI premium will be similar to the ones listed in the calculator results.
If you'd like an LMI quote for a specific lender then please contact one of our mortgage brokers on 1300 889 743.
) [117] => stdClass Object ( [post_id] => 84408 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Talk to a Home Loan Experts mortgage broker to find out the true costs of buying a home. Call us on 1300 889 743 or complete our free assessment form.
[wbcr_snippet id="80264"] ) [118] => stdClass Object ( [post_id] => 84727 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>There are many other situations where the lender may require a confirmation of employment letter.
We always try to discuss your situation with the lender’s credit manager before wasting your employer’s time in asking them provide a letter.
If you're having trouble drafting a suitable employment letter, please contact call us on 1300 889 743 or enquire online.
Our mortgage brokers specialise in unusual employment mortgages.
Still have questions? Feel free to comment below and we'll get back to you as soon as possible.
) [119] => stdClass Object ( [post_id] => 84750 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Before building a home, take the time to research and compare prices for materials, labour and permits. You should also consider the different ways to save on building costs and make a budget based on the estimated costs. Talk to our mortgage brokers if you want expert guidance as you apply for a construction home loan. Call us on 1300 889 743 or enquire online today! [sg_popup id=81314] ) [120] => stdClass Object ( [post_id] => 84776 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Are there low doc loans for trusts?
Yes, it’s possible to get approval for a low doc trust loan.
A low doc loan will allow you to declare your income rather than providing tax returns as proof of your income.
There are only a few select lenders that can consider low doc loans for trusts so it’s critical that you talk to us on 1300 889 743 or complete our free assessment form before you apply for a low doc loan using a trust.
) [121] => stdClass Object ( [post_id] => 940 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Yes, it’s possible to setup the loan to be in the name of the trustee or director of the trustee instead of being in the trust name.
For example, if John Smith is the director of ABC Pty Ltd, the trustee for The Smith Unit Trust, then the loan could be set up in two ways:
Note that some banks don’t accept the second loan structure listed above.
Please talk to your accountant for tax advice regarding the different structures.
Fill in our free assessment form or call one of our brokers on 1300 889 743 to find out which lenders can help with your proposed loan structure.
) [122] => stdClass Object ( [post_id] => 69333 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
As discussed above, price isn’t the only factor vendors are considering when looking at offers. They’re also looking at the buyer. A buyer with a pre-approval is more likely to be seen as serious, especially if the vendor requires a quick, decisive sale. It helps them avoid uncertainty with settlement and finance dates. To get pre-approved, please speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our free online assessment form today.
) [123] => stdClass Object ( [post_id] => 3812 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers are experts in setting up home loans in the name of a company!
Whether it’s a simple company with one or two directors or a large joint venture with many partners, we can help you get approved.
We can quickly work out if you’re qualified for a loan and we know which lenders will give you the best possible interest rate.
Please contact us on 1300 889 743 or complete our free assessment form and one of our specialist mortgage brokers will give you a call to discuss your situation.
) [124] => stdClass Object ( [post_id] => 2369 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Apply For A Rental Letter Home Loan Today
Please complete our free assessment form or call us on 1300 889 743 and we can tell you how you can use your rental payments as proof of your ability to pay off a home loan.
Still have questions? Feel free to comment below and we'll get back to you as soon as possible.
[sg_popup id=81314] ) [125] => stdClass Object ( [post_id] => 31234 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Taking over your parents’ mortgage, whether through buying the property below market value or helping out with the mortgage repayments, is a big decision.
Going about it the wrong way can prove costly in the long run, with future legal disputes possibly affecting your ability to borrow in the future and putting you under financial strain if you already have a home loan.
Speak to your mortgage broker or your lender first. They may be able to provide a solution.
After that, speak to a financial adviser and a solicitor about other possible solutions.
Call us on 1300 889 743 or complete our free online assessment form and we can put you in touch with a bank representative or a solicitor who can help you.
) [126] => stdClass Object ( [post_id] => 3900 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Do you need help with your mortgage? Enquire online and one of our mortgage brokers who specialises in worker’s comp home loans will give you a call us on 1300 889 743 to discuss your options.
We can quickly work out if you are eligible for a home loan and help you to get approved!
) [127] => stdClass Object ( [post_id] => 31076 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Getting an offset account is a great strategy from a tax perspective.
The offset facility earns no interest, however, the bank will take the balance into account when assessing your loan interest.
This means that if you have a $800,000 loan and you've put $300,000 in the offset account, the bank will calculate interest on just $500,000. This can make a huge difference on the tax amount.
Not all lenders offer offset accounts on interest only loans and they may also limit the amount of extra repayments you can make.
To learn more about offset accounts, you can speak with one of our mortgage brokers on 1300 889 743 or complete our free online assessment form.
) [128] => stdClass Object ( [post_id] => 495 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
All too often, people start a renovation project only to run out of funds halfway through.
Often, they will approach their bank for a loan extension but will be declined.
They will then go with a non-conforming lender that will allow them to borrow but charge them an exorbitant interest rate.
It’s best to fill in our free assessment form or speak to one of our expert mortgage brokers on 1300 889 743 so they can assist you in applying to ensure that you maximise your chances of approval.
) [129] => stdClass Object ( [post_id] => 35511 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Speak with one of our experience mortgage brokers by calling 1300 889 743 today.
Alternatively, complete our online enquiry form and we'll get back to you with some lender recommendations.
) [130] => stdClass Object ( [post_id] => 34178 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Discover how you can borrow at the maximum Loan to Value Ratio (LVR) for your situation and qualify for heavily discounted commercial interest rates.
With an extensive lending panel and credit expertise, our mortgage brokers are financial planning practice loan specialists.
Call us on 1300 889 743 or fill in our online assessment form today.
) [131] => stdClass Object ( [post_id] => 70720 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Want to know more about the Super Home Buyer Scheme or find out if you’re eligible? Contact our specialist mortgage brokers at 1300 889 743 or fill in our online assessment form. We can help you find the home buyer schemes that can help you, today! ) [132] => stdClass Object ( [post_id] => 189 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Yes, the vast majority of lenders are very reluctant to lend to areas that are not prime regional or metropolitan locations.
As a rule of thumb if there are less than 10,000 people in a town then lenders may have restrictions on Low Doc loans in that area.
If the area in which your property is located is on an island not connected to the mainland, is in a small rural town or is a hobby farm in an isolated location you are likely to have significant difficulties obtaining a low doc loan from most lenders.
Many lenders assess location by the postcode which has given rise to the term postcode restrictions.
One of our lenders has no location restrictions for standard low doc loans, we recommend that you to call us on 1300 889 743 or enquire online if you believe location restrictions will be applicable for your loan.
) [133] => stdClass Object ( [post_id] => 50448 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Neobanks are a great alternative to traditional banks and offer a hassle-free process of getting a home loan.
Unfortunately, your option of getting a home loan with a neobank is difficult - with 86 400 being the only one offering home loans.
If you're on the lookout for a home loan at a competitive interest rates, then we can help you choose from our panel of 40 lenders.
Our award-winning mortgage brokers will guide you step-by-step through the process of getting a home loan.
Get in touch by calling us at 1300 889 743 of filling in our free assessment form.
[wbcr_snippet id="72964"] ) [134] => stdClass Object ( [post_id] => 55976 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Talk to one of our specialist mortgage brokers if you’d like to go over all the available home loan options before extending your mortgage freeze.
Call us on 1300 889 743 or fill in our online assessment form.
) [135] => stdClass Object ( [post_id] => 27380 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>No.
Most lenders offer the same competitive interest rates on a gifted deposit home loan as they do on normal home loans. This means that you can borrow up to 95% LVR with a gifted deposit and still get a great rate.
Give us a call on 1300 889 743 or fill in our free online assessment form and we can help you find the right lender for your situation from our panel of over 40 reputable lenders.
) [136] => stdClass Object ( [post_id] => 33339 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Under the Retail Leases Act 1994 and the Agricultural Tenancies Act 1990, your security deposit will sit with your relevant state's bond board until such time that you vacate the premises and the landlord is satisfied that the property has been made good. Even if you have sublet the entire premises to a third party, your bond will continue to be retained by the head lessor. If you're intending to vacate the premises, the bond will only be released once you have transferred the leasehold to the new tenant and the new tenant has paid the equivalent bond to the head lessor.
Do you need a commercial loan?
Whether you need a loan to buy your own commercial property or business finance to help with your cash flow, we can help. Call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers. [wbcr_snippet id="75752"] ) [137] => stdClass Object ( [post_id] => 35474 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Tell us about the shed house you're looking to buy by calling us on 1300 889 743 or by completing our free assessment form today.
) [138] => stdClass Object ( [post_id] => 32857 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our experienced mortgage brokers can help you get the granny flat loan you need to get your project off the ground.
Please call us on 1300 889 743 or enquire online and we will work out which lender can assist you with your granny flat investment.
[wbcr_snippet id="73410"] ) [139] => stdClass Object ( [post_id] => 31860 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>We're not valuers but we can help you qualify for a commercial property loan!
If you're happy with the cap rate of a property you've found and you've undertaken further due diligence, get in touch with us and we can help you qualify for a commercial loan, whether you're buying a freehold or need a business loan as well.
We have strong relationships with the commercial credit departments of a number of major banks as well as specialist lenders.
Because we know the key decision makers, we know how to build a strong case so you have a strong chance to get approved the first time around and even negotiate reduced commercial interest rates.
Call us today on 1300 889 743 or complete our free assessment form and tell us about the commercial property you're looking to buy.
[wbcr_snippet id="75453"] ) [140] => stdClass Object ( [post_id] => 33498 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Give us a call on 1300 889 743 or complete our online enquiry form to speak with one of our mortgage brokers about your situation.
We can properly assess your financial needs including how much you’re paying in mortgage repayments and let you know if you can get a better commercial loan deal from our panel of lenders.
) [141] => stdClass Object ( [post_id] => 10048 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Most temporary residents who have purchased a home are on a 457 visa or a spouse visa, and are unlikely to be affected by the changes to skilled migration policy.
Other visa types that have been affected should talk to one of our mortgage brokers by calling 1300 889 743 (When outside Australia call +61 2 9194 1700), or you can enquire online.
Some migrants on visa subclasses that purchase homes in Australia include, but are not limited to:
SkillSelect makes it easier for some skilled workers to apply and migrate to Australia. As their services are in high demand, a sponsor is more likely to offer them a stable job, with a good income. Combined with their visa status, the banks are more likely to consider them able to service a home loan.
Therefore, SkillSelect may encourage more migrants to take advantage of these opportunities, and to break into the Australian property market.
) [142] => stdClass Object ( [post_id] => 35162 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Do you want to buy a swanky inner city unit, a luxury house or even escape to the country buying a large acreage or hobby farm?
We can help you finance your property dreams but keep in mind that some lenders may require you to come up with a larger deposit.
You may also have to pay LMI which means you'll also need to meet the genuine savings requirement.
However, depending on your employment stability and income level, we may be able to negotiate with the lender on your behalf and still get you a great deal.
Discover if you qualify for a home loan for entertainment professionals.
Call us on 1300 889 743 or complete our free assessment form today.
[wbcr_snippet id="74074"] ) [143] => stdClass Object ( [post_id] => 26620 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Do I qualify?
Generally speaking, you’ll need:
Want to know if you qualify for a 5% deposit home loan?
Fill in this free and easy assessment form or call us directly on 1300 889 743 and let us help you find the right home loan for your needs. ) [144] => stdClass Object ( [post_id] => 916 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Do you hold a 189, 190, 801 or another type of permanent resident visa?
We're mortgage brokers who specialise in helping people without citizenship buy property in Australia. To find out how we can help you get approved for a permanent resident mortgage, please contact us on 1300 889 743 or enquire online today.
[wbcr_snippet id="74958"] ) [145] => stdClass Object ( [post_id] => 21713 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>There are better options available than using a super to buy a home.
Our mortgage brokers are here to help you find a low-deposit home loan solution that works for you. Call us on
1300 889 743 or fill in our free online assessment form.
The ATO can be quite aggressive with taxpayers who have had a bad repayment history or who have not communicated with them. It is wise to let the ATO immediately know if you cannot fulfil your obligations. The more you ignore the responsibility, then the more severe the actions you might have to face.
If the ATO takes you to court, it may result in a court writ or judgement being recorded on your credit file. On top of that, some of our major lenders will not accept future loan applications from you because they will consider you to be a high-risk client.
Even if a court writ is paid, it will remain on your credit file for four years, whereas a judgement will remain on your credit file for five years.
On the bright side, we can still help you if you have gone to court with the ATO! We know specialist lenders who can refinance your mortgage and pay the full debt including the General Interest Charge (GIC) and legal fees.
Please call us on 1300 889 743 or enquire online to speak to a broker who specialises in refinancing tax debt.
) [147] => stdClass Object ( [post_id] => 32531 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Did you know that foreign investors and temporary residents can get the same interest rates and borrow at the same Loan to Value Ratios (LVRs) as Australian citizens and expats, permanent residents and New Zealand citizens?
You won't be charged more for a business loan just because you're a non-resident!
In fact, as specialist mortgage brokers with a range of major banks and lenders to choose from, we have the negotiating power to get you discounted interest rates and borrow the amount you need to start a business.
So call us today on 1300 889 743 or complete our free assessment form and we can help present a strong business case with the right lender.
) [148] => stdClass Object ( [post_id] => 69979 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Many doctors end up building large property portfolios, which can potentially end up earning them more money than their career. Here are some things to keep in mind if you’re looking to build your portfolio:
Time is of the essence when it comes to building a property portfolio. Buy properties faster and build your property empire with Home Loan Experts. Call us on 1300 889 743 or enquire online today.
[wbcr_snippet id="74092"] ) [149] => stdClass Object ( [post_id] => 30248 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers specialise in bad credit home loans. Although there aren't any no credit check home loans, we can still help you prepare a strong application and apply with the right lender for your personal situation.
Besides getting you approved, we also prioritise setting up a home loan with the intent of refinancing you back to a major lender when your credit history is clear.
Call 1300 889 743 or complete our free online assessment form if you want to check how your situation stacks up.
) [150] => stdClass Object ( [post_id] => 50690 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>There are options available to build a home with bad credit if you know where to look.
Our mortgage brokers are credit experts who can assess your situation and get you the best deals according to your construction needs.
Please call us on 1300 889 743 or fill in our free assessment form to find out if you qualify for a construction loan with bad credit.
) [151] => stdClass Object ( [post_id] => 54185 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Most people outside of mortgage brokers don’t know this, but banks assign priority service for applications submitted by top brokers. By top brokers, they mean brokers who’ve submitted quality deals that go through over the past 12 months or on a regular basis.
As such, the applications submitted by these top brokers are moved to the front of the line. For example, one of our major lenders has a system of categorising brokers into Gold, Flame, or Accredited.
Current SLA: Gold- 4-5 days/ Flame- 2days /Accredited- 20 days
What this means is that an application submitted by a “Gold” broker gets assessed within 4-5 business days. In contrast, a submission through an accredited broker will take 20 days.
If you want an application fast-tracked, it pays to go through a priority service mortgage broker.
Many of our brokers enjoy priority service enjoy priority services with banks.
Get your application fast-tracked by talking with one of our mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form.
) [152] => stdClass Object ( [post_id] => 11856 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
If you have a real estate and a construction project in mind, we can help! Call us on 1300 889 743 or enquire online and our brokers will contact you.
[wbcr_snippet id="73508"] ) [153] => stdClass Object ( [post_id] => 72795 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Asking the right questions can help you make an informed decision about a bank’s responsibility and accountability. If you would like to get a home loan from a green and ethical bank, talk to our mortgage brokers today. Call us on 1300 889 743 or enquire online. ) [154] => stdClass Object ( [post_id] => 28346 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>There are only a handful lenders that will accept Family Tax Benefits as a source of income when assessing your ability to qualify for a home loan.
We're specialists in helping people who have an income source that is out of the ordinary qualify for a home loan.
Call us on 1300 889 743 or complete our free assessment form today to discover if you're eligible for a Family Tax Benefit mortgage.
[sg_popup id=65221] [wbcr_snippet id="74660"] ) [155] => stdClass Object ( [post_id] => 69888 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Contact our specialist mortgage brokers at 1300 889 743 or fill in our online assessment form and we will help you find the perfect doctor home loan.
) [156] => stdClass Object ( [post_id] => 64005 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>To reiterate, using a buy now, pay later account does not mean you’re home loan application will be declined. If appropriately used, it can be a budgeting tool to keep your expenses in order. Here are some tips on how you use buy now, pay later responsibly and improve your chances of home loan approval:
The bottom line, at times when it’s harder to qualify for a home loan, it’s best to be vigilant about your expenses. At Home Loan Experts, we can provide you with a free credit report to check if your buy now, pay later purchases could affect your chances of mortgage approval. Our mortgage brokers will help weed out unnecessary debts and expenses to improve your chances of getting a home loan approved. Call us on 1300 889 743 or enquire online for a free no-obligation assessment. [wbcr_snippet id="73034"] ) [157] => stdClass Object ( [post_id] => 7916 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Choosing an interest only loan product, can reduce the amount you pay each month, making it a great option for investors.
Some banks will even allow you to borrow up to 90% LVR!
We know a few select lenders that offer interest only repayment options. Please speak to us on 1300 889 743 or enquire online if would like to pay interest only.
) [158] => stdClass Object ( [post_id] => 2623 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => If you have applied for just one or two credit facilities within the last six months then your next loan may be declined. This is because banks perceive people as "credit junkies" if they have made too many recent enquiries. Luckily enough there are specialist lenders that can get your application approved despite having made too many enquiries. However you will need to provide an explanation to the banks regarding the reason behind each enquiry and they will assess your loan accordingly. Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will check your credit score and see if you can get approved. [wbcr_snippet id="75306"] ) [159] => stdClass Object ( [post_id] => 4513 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Please call our office on 1300 889 743 or enquire online and your mortgage broker can walk you through the process of downloading the required documents from internet banking.
) [160] => stdClass Object ( [post_id] => 8066 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>We are mortgage brokers with credit expertise who know how to get your LAFHA loans approved! We regularly help people with unusual employment situations who have LAFHA as part of their salary obtain home loans.
Call us on 1300 889 743 or enquire online and let us help you with your home loan!
[wbcr_snippet id="74829"] ) [161] => stdClass Object ( [post_id] => 11805 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Home Loan Experts is dedicated to finding our clients the home loan that works best for their needs.
We can pick and choose products from over 50 different banks and lenders, often finding bank employees with better mortgage deals.
Are you looking for a home loan and are employed at a bank or lender?
We can help!
Contact us today, and one of our specialist brokers will help you find the best home loan available from our panel.
Call 1300 889 743 or enquire online.
[wbcr_snippet id="73060"] ) [162] => stdClass Object ( [post_id] => 32080 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Call 1300 889 743 or complete our free assessment form to speak with one of our franchise loan specialists!
) [163] => stdClass Object ( [post_id] => 58892 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>If you're still confused about which home loan is right for you, it's best to take the help of a mortgage broker.
At Home Loan Experts, our mortgage brokers know the lending policies and home loan products of over 50 lenders.
We can find the right home loan solution for you.
Call us on 1300 889 743 or fill in our free online assessment form.
) [164] => stdClass Object ( [post_id] => 31486 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Depending on your investment strategy, you may actually need two to three loans throughout the entire development process, specifically:
What about the cost of the development application (DA) and other soft costs?
Soft costs are generally considered as costs that aren't labor and materials. These "extra" development costs relate to:
Many first-time residential property developers are often surprised that the development loan only covers the land and construction costs.
Make sure you take into account these extra costs when calculating the total cost of development.
The way around it is if you bought the block of land a few years ago and have paid off a good part of the land loan.
If you have the equity, you can cash out and use these funds to cover some of the extra costs.
We can help you refinance your existing mortgage to fund a residential development loan!
Alternatively, if you can provide formal written quotes for these soft costs we can often get the bank to extend the loan for these costs.
It really depends on the nature of the work and the lender that we're working with as to whether this will be possible or not.
Call us on 1300 889 743 or complete our online assessment form and let us help you plan out your residential development loan so you can have a smooth construction process and get help with your development application (DA) if you need one.
) [165] => stdClass Object ( [post_id] => 3413 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Our mortgage brokers are specialists in all types of equity release loans. We can quickly work out the best options for you and then help you to get a speedy approval.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will call you to discuss your enquiry.
) [166] => stdClass Object ( [post_id] => 55899 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers are experts in handling this loan structure. Reach out to them so they can assess your situation and work out the best strategy for you and your partner.
Please enquire online or call 1300 889 743 to discuss your situation with one of our mortgage brokers.
) [167] => stdClass Object ( [post_id] => 1938 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers are experts in construction loans and know how to help you get your mortgage approved!
Please call us on 1300 889 743 or complete our free assessment form to talk to a mortgage broker in our office.
We can quickly work out if you qualify for a mortgage and then help you to apply with the most competitive bank.
[wbcr_snippet id="73415"] ) [168] => stdClass Object ( [post_id] => 58156 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers are experts in helping temporary residents buy properties in Australia.
Please call us on 1300 889 743 or complete our free assessment form today to find out if you qualify for a 494 visa home loan.
[wbcr_snippet id="74962"] ) [169] => stdClass Object ( [post_id] => 34939 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>We're experts in unusual income types like income protection insurance!
Call us on 1300 889 743 and tell us about your situation. Otherwise, you can simply fill in our free assessment form and one of our mortgage brokers will get back to you.
[sg_popup id=65221] [wbcr_snippet id="74672"] ) [170] => stdClass Object ( [post_id] => 3417 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Business loans can be significantly more complicated than standard residential loans.
For this reason, it's best to speak to a mortgage broker who specialises in business equity loans.
If you have a home, investment property, commercial property or other real estate that you can use as security then please enquire online or call us on 1300 889 743.
We can quickly work out which loans you can qualify for and which lenders can give you the best possible interest rate discount.
) [171] => stdClass Object ( [post_id] => 69070 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => If you’re having trouble deciding whether a capital-growth or rental-yield strategy is best for you, Home Loan Experts can help. Call us at 1300 889 743 or enquire online to find out which lenders can help with your investment loan. ) [172] => stdClass Object ( [post_id] => 64047 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in the free online enquiry form on our website and we will assist you in finding your dream home with ease. Don’t forget to enroll in our Home Buyers Institute to learn much more about the various factors a home buyer must know before they buy!
) [173] => stdClass Object ( [post_id] => 7863 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>If you’re working as an Australian government official in an overseas embassy, it may be easier to get loan approval.
This is partly due to your status as an Australian citizen, as well as your income and job stability.
Most Australian government employees who have been deployed overseas are still Australian residents for tax purposes and are paid in Australian dollars.
This reduces exchange rate fluctuations, making it a lower risk to the lender.
Whilst the banks do not offer special rates or discounts for government officials, you will still be eligible for a competitive loan package.
Speak to us today on 1300 889 743 (+61 2 9194 1700 from outside of Australia) to find out more or enquire online and one of our mortgage brokers will contact you to discuss your situation.
) [174] => stdClass Object ( [post_id] => 44456 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => If you owe less than 80% of the property value on your mortgage, you can cancel the LMI premium by having your property revalued. Your monthly LMI payments cease once the LVR of the home loan drops below 80%. To find out how much you could save on LMI, talk to one of our specialist mortgage brokers by calling us on 1300 889 743 or by completing our enquiry form. ) [175] => stdClass Object ( [post_id] => 45114 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Your home loan may have been suitable for you a few years ago, but your circumstances change over time, and so do your needs. Generally speaking, if you haven’t checked your interest rate in the past two years, you could be missing out on a lower rate. Call us today on 1300 889 743 or enquire online to learn more about the cost of refinancing and your refinancing options. ) [176] => stdClass Object ( [post_id] => 30490 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Do you have more questions about how aged care facility commercial loans work?
We have the answers!
Is aged care the same as an over 55s village?
No. Over 55s villages or retirement villages are housing communities that have been promoted by the state government, particularly in NSW under State Environmental Planning Policy Number 5 (Sepp 5) zoning.
Although these types of properties are difficult to finance, they’re still residential, not commercial properties.
If you’d like to invest in a SEPP 5 property instead, check out the Over 55s Village Mortgage page.
How much do nursing homes cost?
A nursing home can be expensive.
Much of this has to do with supply and demand. There just wasn’t much construction going on during the global financial crisis (GFC): it was about increasing the capacity of existing facilities.
Today, industry estimates put the core price for a relatively new aged care facility with single ensuite rooms upwards of $190,000 per bed minus RADs.
As a rough estimate, you could be looking at around $15-20 million for a 100-bed facility in a metro location on the east coast.
Can I get funding to convert a residential property?
Banks are generally very strict about lending to someone wanting to convert a residential property they own into a nursing home.
They need to meet all of the requirements under DoHA’s accreditation not to mention development application approvals.
Due to tragic natural disasters in the past few years, you’d be hard-pressed to build in areas deemed to be bushfire or flood prone.
On top of this, bank appetite is for strong operators who already have a proven track record.
The only rare exception to this is if you have significant equity and have a proven operator hired to trade up the facility.
Do you need an aged care facility commercial loan?
With strong relationships with the commercial arms of almost 40 lenders including the major banks, Home Loan Experts are specialists at aged care facility commercial loans.
Call us on 1300 889 743 or simply tell us about your investment plans in our free assessment form and we’ll tell you how we can help.
[wbcr_snippet id="75865"] ) [177] => stdClass Object ( [post_id] => 65316 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Are you looking to buy a property but are not sure where to start? Call us on 1300 889 743 or fill in the free online enquiry form on our website and we will assist you in finding your dream home with ease.
) [178] => stdClass Object ( [post_id] => 33319 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Royalty income is complex as there are many different sources of royalties and they each need to be assessed on their individual merits.
Typically banks look at:
Please call us on 1300 889 743 or complete our free assessment form and our mortgage brokers will let you know how your royalty income will be assessed.
) [179] => stdClass Object ( [post_id] => 35730 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>We're mortgage brokers who specialise in helping people without Australian citizenship to apply for a loan in Australia. We regularly help people on working visas, in particular 457 visas, to buy real estate in Australia.
If you'd like to buy a property in Australia and need mortgage approval please complete our free assessment form or call us on 1300 889 743.
) [180] => stdClass Object ( [post_id] => 32408 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Keeping an eye out for every opportunity to reduce your loan term will put you forward in your situation.
Call us on 1300 889 743 or enquire online and speak with an experienced mortgage broker and find out how you could repay your mortgage faster.
) [181] => stdClass Object ( [post_id] => 30404 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Even if you've received overtime income for just three months, we may be able to help you find a lender that can consider 100% of this income.
Please call us on 1300 889 743 or complete our free online assessment form and we can help you apply with the right lender.
) [182] => stdClass Object ( [post_id] => 7051 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>The First Home Owners Grant (FHOG) scheme is a federal government initiative however it is managed by the state governments.
Some states have their own additional benefits such as an extra bonus grant or an exemption from stamp duty. You should refer to the governments First Home Buyer Website for a link to your state governments first home benefits info page.
On the website there will be a contact number, fact sheet or eligibility guide which can assist you further.
As a general rule of thumb you must be a natural person (not a company), buying your first home and you must be a permanent resident, Australian or NZ citizen.
If your spouse or de-facto have already owned a home then you may be ineligible for the grant. Contact your state government for the full eligibility criteria.
To find out whether you will get approved for a home loan, speak to our mortgage brokers on 1300 889 743 or enquire online. We can help first home buyers finance the home of their dreams! Call us today.
) [183] => stdClass Object ( [post_id] => 9626 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Are planning on investing in Australian real estate? Our buyers guide can help explain the buying process including what professionals you may need to assist you.
For more information and to apply for a loan, contact us today! You can call 1300 889 743 (if outside Australia, call +61 2 9194 1700), or enquire online and one of our non-resident mortgage specialists will contact you.
) [184] => stdClass Object ( [post_id] => 2658 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
If you’re behind on your home loan repayments and want to refinance, immediately consult a specialist lender or a mortgage broker. At Home Loan Experts, we have access to a panel of specialist lenders who can help with your circumstances. We know the right lenders who can approve a home loan or debt consolidation. Our mortgage brokers are credit specialists and will thoroughly assess your situation to improve your chances of refinancing a home loan in arrears. Please call us at 1300 889 743 or fill in our free assessment form.
) [185] => stdClass Object ( [post_id] => 170 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers are experts in low doc financing. Send us an online enquiry or call us at 1300 889 743 and we will be in touch with some free quotes from leading bank and non-bank lenders that specialise in low doc and lite doc lending.
) [186] => stdClass Object ( [post_id] => 44780 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>You're probably paying too much interest on your investment home loan. We can help you start saving thousands of dollars a year by refinancing!
Backed by industry-leading experts, our simple process will allow for an easy transfer from the existing lender. We'll take care of all that hard work for you.
Call us on 1300 889 743 or complete our free assessment form if you're interested in learning more about saving money on your investment home loan through refinancing.
) [187] => stdClass Object ( [post_id] => 48471 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Let’s imagine a very common occurrence; mum, dad and son bought their owner-occupied property 8 years ago, they borrowed $300,000 from a bank and their property is now worth $700,000.
Son is getting married next month and wants to take out a top-up loan of $20,000 against the home to fund the wedding and honeymoon, mum and dad think this is a brilliant idea rather than giving them cash.
They approach their bank and submit the loan application on the 2nd of July 2019 after the new Code becomes effective, however, their loan submission is declined by their bank.
Because under the new Code, banks need to establish substantial benefit for all borrowers, and in this case, the bank considered the primary loan purpose was for the son solely.
If this happens to you as well don’t worry, our specialist mortgage brokers can help you find you an alternative lender that’s willing to help you out.
Give us a call on 1300 889 743 or please fill in our online assessment form today.
[wbcr_snippet id="72892"] ) [188] => stdClass Object ( [post_id] => 31730 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Do you have a car dealership you have your eye on?
Call us on 1300 889 743 or complete our free assessment form and we can tell if you qualify for a car yard commercial loan.
Discover how much you can borrow and what kind of loan term you qualify for!
) [189] => stdClass Object ( [post_id] => 78980 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Ready to unlock your earning potential through rental properties? Our expert mortgage advisers are here to guide you every step of the way. Whether you're a first-time investor or expanding your portfolio, we'll help you secure the most suitable financing options for your property investment. Take action now! Contact us today at 1300 889 743 or complete our free online assessment form to start.
) [190] => stdClass Object ( [post_id] => 3672 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers are specialists in helping people to buy a display home. If you are having trouble financing your investment then please call us on 1300 889 743 or enquire online and one of our brokers will call you to discuss your options.
[wbcr_snippet id="73386"] ) [191] => stdClass Object ( [post_id] => 36099 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>We can help get you prepared for your business loan application and choose the right lender for your business needs.
We have nearly 40 lenders to choose from and we have strong negotiation power with all of them.
Because we know the key decision-makers, we can also help you to qualify for a competitive interest rate and favourable loan terms.
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for a business loan.
) [192] => stdClass Object ( [post_id] => 27147 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>As a consultant, the chances of your loan being approved is fairly high as long as your application is submitted to the right bank.
We're consultant home loan experts so we know exactly how to build a strong case so you have a higher likelihood of getting approved with a lender that actually takes a common sense approach to your income and employment situation.
Call us on 1300 889 743 or complete our free assessment form to get a quote for a consultant home loan today!
[wbcr_snippet id="74817"] ) [193] => stdClass Object ( [post_id] => 13103 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>In order to improve your borrowing power, it's better if the bank uses both you and your partner's income.
Unfortunately, most banks won't consider your partner's income if they're not an Australian citizen or permanent resident (PR).
However, we have been able to get exceptions to policy for strong cases.
Here's what the bank is looking for:
Please call us on 1300 889 743 or fill in our free online enquiry form to discover if we can get you approved as an exception to policy.
) [194] => stdClass Object ( [post_id] => 61994 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
With the budget focusing on recovery, Australians who weren’t able to get ahead of the property market boom might have a chance now.
The introduction of the Family Home Guarantee and the extension of existing programs, like HomeBuilder and FHLDS (New Homes), will help first-home buyers achieve their dreams of homeownership sooner.
Similarly, tax relief for low- and middle-income earners means better affordability for home loans.
Speak with one of Home Loan Experts’ mortgage brokers to discuss your situation and make the most out of the budget. Please call us on 1300 889 743 or fill in our free assessment form.
) [195] => stdClass Object ( [post_id] => 3889 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Once you’ve submitted your home loan application, you should make sure it has adhered to bank policy.
To do this, you can ask your mortgage broker or the lender:
Please be aware that interest rates and lending policies are subject to change. If they do, even a formal pre-approval may no longer be vaild.
Be sure of current rates and policies before going to auction, preferably the same day or as close to it as possible.
The lenders will most likely not notify you of these details unless you ask.
To find out more about this, see our page on bank policy and lender guidelines or contact us here at Home Loan Experts.
You may enquire online for free or call and speak with one of our specialist brokers on 1300 889 743.
) [196] => stdClass Object ( [post_id] => 956 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
You can apply for a home loan to buy an investment property in a trust. Our company has mortgage brokers that specialise in helping people borrow money using their trust.
Please contact us on 1300 889 743 or complete our free assessment form to discuss your needs with one of our brokers.
) [197] => stdClass Object ( [post_id] => 40936 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
We can assess your needs and find you the right solution for your situation.
That's because we understand that a home loan is not all about the interest rate.
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers today.
) [198] => stdClass Object ( [post_id] => 84764 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Whether you're a casual teacher, part-time lecturer or school principal, we're here to assist you every step of the way. We share your passion for making a difference. Our home Loan Experts have seven years of experience, on average, as mortgage brokers. They will help you explore teacher home loan options and guide you towards home ownership.
Call us at 1300 889 743 or fill out our free online assessment form to get started now. Let's make your dream of owning a home a reality together!
) [199] => stdClass Object ( [post_id] => 31281 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>It's essential that you seek legal advice from a professional before you decide to apply for any home loan. Speak with your accountant or a professional financial advisor to find out what the financially sound decision will be.
Alternatively, you can speak with one of our experienced mortgage brokers to find out if you qualify and how much you can borrow. To speak with one of them, call us on 1300 889 743 or fill in our free online assessment form today.
) [200] => stdClass Object ( [post_id] => 31017 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Call us on 1300 889 743 or complete our free assessment form and we can tell you if you qualify for a retail commercial loan.
) [201] => stdClass Object ( [post_id] => 31017 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form and we can tell you if you qualify for a retail commercial loan.
) [202] => stdClass Object ( [post_id] => 334 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>It is critical that you apply with the right bank! Our mortgage brokers specialise in lending to new migrants, Australians living overseas and foreign investors. We can assess your application and submit it with a lender that will approve it the first time round. Please call us on 1300 889 743 (+61 2 9194 1700 outside Australia) or enquire online and one of our mortgage brokers will call you to discuss the mortgages that you may qualify for.
) [203] => stdClass Object ( [post_id] => 19581 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Can investors buy both residential and commercial properties?
Stability and growth aren’t just features of residential houses, townhouses and units.
Most commercial properties such as offices, factories and retail outlets have proven themselves to have excellent returns.
Larger foreign investors tend to prefer hotels, pubs, commercial farms and residential and commercial developments.
Foreign investment regulation changes
In December 2015, the Australian Government introduced new legislation to foreign investors to purchase Australian property.
Under the new laws, non-resident buyers can only invest in new dwellings, off-the-plan properties under construction, or vacant land with a view to development.
Because they’re not residents, they’re not allowed to buy established dwellings unless they plan to demolish said dwelling and construct a new one within 4 years of the date of approval. The redevelopment must add to the housing stock for approval to be given. Non-residents who purchase property in Australia are required to seek approval from the Foreign Investment Review Board (FIRB), without may face severe penalties including up to $135,000 in fines, three years’ imprisonment or both.
Do you need help with getting approved for a foreigner mortgage?
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to speak to our specialist mortgage brokers.
They can guide you through the application process.
) [204] => stdClass Object ( [post_id] => 29276 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
We’re experts in getting Australian expats living in Canada approved for a mortgage in Australia.
Most of the time our services are free!
Please call 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to speak with one of our experienced mortgage brokers.
) [205] => stdClass Object ( [post_id] => 30828 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>As a general rule, if you're borrowing more than 80% LVR (60% for a low doc loan) then you'll need to pay Lenders Mortgage Insurance (LMI), a special guarantee for the lender in case you default on your home loan.
However, if you're eligible for an LMI waiver then you can save thousands of dollars in LMI alone!
Are you currently engaged in a professional field?
Australian banks prefer lending to particular professionals, even offering significant interest rate discounts or waiving the cost of LMI entirely!
The most common professions that are eligible for waived LMI include:
Normally, other high-income professionals may also qualify for an LMI waiver.
Not sure if you qualify for waived LMI?
Speak with us on 1300 889 743 (+61 2 9194 1700 if you're overseas) or complete our free online assessment form to find out if you're eligible.
) [206] => stdClass Object ( [post_id] => 32987 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
The quickest way to do this is to ask your mortgage broker to provide you with comparable sales so you can quickly estimate the value of your property.
We can also order multiple bank valuations before lodging an application for you! You can discuss this with one of our mortgage brokers by calling us on 1300 889 743 or by filling in our free online assessment form.
[wbcr_snippet id="72198"] ) [207] => stdClass Object ( [post_id] => 63666 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>We’re here to help
Home Loan Experts can help you apply for Family Home. Discuss your situation with our mortgage brokers today, and we’ll find you the best home loan for your scenario. Call us on 1300 889 743 or fill in our free assessment form.
) [208] => stdClass Object ( [post_id] => 30733 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>We’re mortgage brokers who specialise in helping people overseas to buy property in Australia.
Here are a few reasons why you should use our services:
Having an expert mortgage broker in Australia can make all the difference! Please call 1300 889 743 (+61 2 9194 1700 from outside of Australia) or enquire online and our team will contact you to discuss how we can help.
) [209] => stdClass Object ( [post_id] => 92963 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Refinancing your home is a journey, but you don’t have to walk it alone. Our expert mortgage brokers will be there, side-by-side with you, to make sure you’re making the best choices for your future. When comparing lenders, it’s important to look beyond the interest rate. We’ll help you consider the full picture – the overall cost, the flexibility of the loan terms, and how each option aligns with your goals. At Home Loan Experts, we believe in oneness – working as one team with you to find the solution that’s truly right for your life. Call us on 1300 889 743 or complete our free online assessment form. ) [210] => stdClass Object ( [post_id] => 55925 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Our extensive first home buying guide will help you on your journey to home ownership with information on tips to save for a deposit and applying for a home loan. Our mortgage brokers have helped many first home buyers realise their dreams of home ownership. Call us on 1300 889 743 or fill in our free assessment form. ) [211] => stdClass Object ( [post_id] => 30471 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Please note that even if you find a great interest rate on an SMSF investment loan, most lenders will restrict your loan to 70% of the property value. Our mortgage brokers specialise in SMSF loans and know lenders that can let you borrow up to 80% of the purchase price. You can call us on 1300 889 743 or complete our free online assessment form to check if you qualify.) [212] => stdClass Object ( [post_id] => 58375 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
We’ve helped many first home buyers with their FHOG application and with buying their first home.
From first home buyer loans to an extensive first home buyer’s guide, we’ve got it covered.
Our mortgage brokers are experts at helping you with your first home loan. Call us on 1300 889 743 or complete our free assessment form.
) [213] => stdClass Object ( [post_id] => 35649 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Call 1300 889 743 or complete our free assessment form to discover if you qualify for a recreation centre loan.
) [214] => stdClass Object ( [post_id] => 3403 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => One of the most common reasons that people release their home equity is to roll all of their expensive unsecured debts into one low monthly repayment. The interest rate on credit cards ranges from 10%-30%, and for personal loans the rate can be anywhere from 9%-15%. By consolidating these debts into your home loan you can significantly reduce the ongoing repayments and save a small fortune in interest. If you wish to consolidate your debts with a major lender you must have made all of your repayments on time in the last month for your unsecured debts and on time for the last six months for your current home loan.Please enquire online or call us on 1300 889 743 to speak to one of our mortgage brokers who can assist you in getting approval.
) [215] => stdClass Object ( [post_id] => 31979 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
You can include income from a second job as a teacher when applying for a home loan. It’s common for teachers, particularly those employed on a casual basis, to work a second job to supplement their income.
Perhaps you work as a tutor on the side, focusing on particular specialities like maths or English. This may be on a contract or freelance basis with other public schools, through a private education provider or as a self-employed tutor.
Generally speaking:
Our Home Loan Experts can let you know if lenders will accept your second-job income for your teacher home loan application. Call 1300 889 743 or complete our free online enquiry form today.
) [216] => stdClass Object ( [post_id] => 70598 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Labour’s Help To Buy Scheme and Liberal’s First Home Guarantee offer different benefits and price caps for home buyers. Whichever scheme goes into effect, our mortgage brokers can help you get approved for a home loan. Call us on 1300 889 743 or complete our free assessment form.
) [217] => stdClass Object ( [post_id] => 57164 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Our award-winning mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home. They can also clarify any questions you may have about the cost of stamp duty, transfer fees or first home owners grants. Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our online assessment form to find out if you’re ready to buy. ) [218] => stdClass Object ( [post_id] => 57056 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home.
They can also clarify any questions you may have about the cost of stamp duty in Victoria, transfer fees or First Home Owners Grants.
Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our free online assessment form to find out if you’re ready to buy.
) [219] => stdClass Object ( [post_id] => 57241 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home.
They can also clarify any questions you may have about the cost of stamp duty in Tasmania, transfer fees or first home owners grants.
Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our online assessment form to find out if you're ready to buy.
) [220] => stdClass Object ( [post_id] => 69750 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Talk to a Home Loan Experts mortgage broker to find out the true costs of buying a home. Call us on 1300 889 743 or complete our free assessment form.
) [221] => stdClass Object ( [post_id] => 20787 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Home Loan Experts’ mortgage brokers can assess your situation and work out whether you have a large enough deposit to buy a home. They can also answer any questions you may have about stamp duty, transfer fees or first home buyer grants.
To speak to our mortgage brokers, call 1300 889 743 or fill in our free assessment form to find out whether you're ready to buy.
) [222] => stdClass Object ( [post_id] => 2435 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>At Home Loan Experts, we understand the unique challenges that come with seeking a home loan when you have bad credit. Here are more reasons why you should consider us as your trusted partner in securing a bad credit home loan:
Our expertise extends to assisting clients with bad credit. Learn how our team skillfully assisted a client with bad credit in refinancing their home loan. Call us on 1300 889 743 or complete our free online assessment form and find out how we can help you get approved for a bad-credit mortgage.
) [223] => stdClass Object ( [post_id] => 85584 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Our expert mortgage brokers are here to provide you with personalised advice and support for your needs. Whether you're ready to apply for an $800K mortgage or simply have questions about your home loan options, we're here to help every step of the way.
Contact us now to:
And, we'll be here to provide ongoing support after your loan has settled, offering regular home loan health checks and ensuring you make the most of your mortgage features.
Don't wait! Get in touch with us today for a free consultation. Call us at 1300 889 743 or fill out our free online enquiry form to get started.
) [224] => stdClass Object ( [post_id] => 31725 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
No! We can know lenders that can help you purchase vacant land for commercial development, agricultural land or an existing commercial property.
This is totally different to the purchase of residential property by non-residents, which is restricted to the purchase of new dwellings.
From office buildings and factories to retail shops and hotels, check out the commercial property loan page to discover the great home loan deals available from our panel of lenders.
Alternatively, call us on 1300 889 743 (+61 2 9194 1700 if you're calling from outside of Australia) or complete our free assessment form to speak with a non-resident commercial loan specialist today.
) [225] => stdClass Object ( [post_id] => 31195 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Basically, the interest rate is the percentage of your loan that you'll pay along with the original loan amount. This is the percentage figure that most people take into account when comparing home loans. On the other hand, the comparison rate is calculated by adding the interest rate that you'll pay and any additional fees and charges that may apply to the loan. The main idea of this rate is to display any hidden fees, charges or costs so that the customers can make an informed decision. Although the comparison rate can help you get a better idea of the actual cost of the loan, it's usually inaccurate as most lenders don't include special factors such as LMI, stamp duty, conveyancing fees and break costs. It's recommended that you speak with a professional credit provider before you decide to get a home loan instead of just relying on the comparison rates. You can also speak with one of our expert brokers who can rework the comparison rate according to your situation. Call them on 1300 889 743 or complete our free online assessment form to get a better idea of comparison rates today.) [226] => stdClass Object ( [post_id] => 29056 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Many of our customers are Australian citizens or dual citizens living in the US who want to invest in the Australian property market.
We will choose the right lender the first time around so you can avoid the headache of getting knocked back and having an unnecessary credit enquiry listed on your credit file.
This can potentially prevent you from building an investment portfolio with Australian real estate in the future.
Most of our services are free and we have almost 40 lenders to choose from including major Australian banks and lenders.
Once we know we can get you approved with a few lenders, we’re in a position to negotiate significant mortgage discounts on your behalf.
Please call 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to speak with one of our experienced mortgage brokers.
[wbcr_snippet id="72411"] ) [227] => stdClass Object ( [post_id] => 22615 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Do you need help to apply for a no doc loan on your commercial property?
Call us on 1300 889 743 or fill in our free assessment form and we’ll get back to you with a quote for a no doc loan.
) [228] => stdClass Object ( [post_id] => 56630 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => As mortgage brokers, we can:Here at Home Loan Experts, our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders.
Please fill in our free assessment form or call us on 1300 889 743 to discuss your situation with a mortgage broker who can quickly find you a lender that will accept your loan while you're on maternity leave or while you're pregnant.
[wbcr_snippet id="74650"] ) [230] => stdClass Object ( [post_id] => 70925 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>If your deposit is not quite enough, here is what you can do:
To be ready to buy a home, it’s best to get pre-approved to see what you can afford. Talk to Home Loan Experts’ mortgage brokers today to get started on your home loan application! Call us on 1300 889 743 or enquire online today.
) [231] => stdClass Object ( [post_id] => 45223 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>The refinance checklist will help you ensure you have all the required documents you need to start your refinance application.
We can help you run the numbers and see if refinancing makes sense for you. and Call us on 1300 889 743 or fill in our free online assessment form to speak with one of our home loan refinance specialists today!
[wbcr_snippet id="74837"] ) [232] => stdClass Object ( [post_id] => 18089 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Our specialist mortgage brokers know which banks have current special offers and will know which lender has the lowest cost loan for your situation. We don't just look at the available rebates, we consider the interest rate and LMI premium to make sure that you get the best deal possible. Call us on 1300 889 743 or enquire online to find out how we can help you to save money on your home loan.[wbcr_snippet id="71980"] ) [233] => stdClass Object ( [post_id] => 70471 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Besides the Regional Home Guarantee, there are two other schemes under the Home Guarantee Scheme:
The New Home Guarantee is an extension of the First Home Guarantee for first-home buyers buying a new home. This scheme will end on 30 June 2022.
We also have options available if you don’t qualify for a scheme:
Discuss your situation with us and we’ll find you a home loan. Call us on 1300 889 743 or enquire online today!
) [234] => stdClass Object ( [post_id] => 69017 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
We can help you to get a competitive home loan so that you will be able to use it to own an investment property sooner. Our mortgage brokers can also help you if you need advice regarding property management.
Call us on 1300 889 743 or complete the no-obligation form and we’ll connect you to our expert mortgage brokers, who will make sure you get the best deal possible.
) [235] => stdClass Object ( [post_id] => 68464 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Generally, lenders will consider 80% of your gross rental returns along with other income, such as your salary, to calculate your borrowing power. However, every lender has its own way of assessing the rent you receive from your investment properties.
At Home Loan Experts, we can help you structure your investment loan to achieve your goals. Our brokers can calculate your rental yield for you and help you with your income strategy. Call us on 1300 889 743 or enquire online today.
) [236] => stdClass Object ( [post_id] => 45371 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Where this is really going to change is with positive credit reporting which allows for data sharing between the banks.
Are you self employed?
Often, lenders will see your business expenses and class them as personal expenses.
With the right evidence, you can argue the point with them so that your living expenses are being calculated accurately - a mortgage broker can help you do this.
What if I accidentally declared more than I actually spend?
Unfortunately, the lender may decline your home loan under the assumption that you can't afford it.
They won't tell you exactly which part of your living expenses put you over line.
Trying to argue the point with them is very hit and miss.
We've had some success with minor changes, cancelling expenses and providing a written letter explaining to the lender that these expenses are no longer regular and ongoing.
The alternative is to apply with another lender who takes a less stringent approach to calculating living expenses.
We know who these lenders are!
Ultimately, you are the only one who knows your living expenses.
If you're in a position to cancel some unnecessary expenses or you simply made a mistake in your application, get in touch with us.
Call 1300 889 743 or fill in our online enquiry form today.
) [237] => stdClass Object ( [post_id] => 50349 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers are experts in the credit policies of almost 40 lenders on our panel. As such we can usually find you a better deal.
Give us a call on 1300 889 743 or fill in our short assessment form to find out if you qualify for a refinance.
) [238] => stdClass Object ( [post_id] => 49157 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our specialist mortgage brokers are experts in the policies of 50 plus lenders that are on our panel.
For expert advice on your home loans, please call us on 1300 889 743 or fill in our free online assessment form.
) [239] => stdClass Object ( [post_id] => 84682 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Interest rate changes can impact your mortgage repayments. Our team of mortgage experts can analyse your current mortgage, explain the potential impact of Cash Rate changes, and explore options that offer more stability. We also have a handy repayment calculator to estimate your new repayments whenever your lender changes your loan’s interest rate.
Please call us on 1300 889 743 or complete our free online assessment form today!
) [240] => stdClass Object ( [post_id] => 30714 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>As mortgage brokers, we can’t assist you with buying a property, but we can help you get approved for a home loan.
We also have a number of free resources that you can access on our ebooks page, such as negotiating at auction and what to look for when inspecting a property.
If you need a home loan to make your property ownership dreams a reality, call us on 1300 889 743"> +1300 889 743 or complete our free online assessment form today to speak with a mortgage broker.
) [241] => stdClass Object ( [post_id] => 44672 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Unhappy with your recent property valuation? A lower-than-expected valuation can impact your borrowing power and refinancing options.
Our team of experts work with over 50 lenders on our panel and can explore different valuation avenues. We may be able to order you a free upfront valuation with one of them or at least help you make an informed decision on what to do next. We're here to help you get the best possible outcome.
Call us on 1300 889 743 or fill in our free online assessment form to speak with one of our experienced mortga [wbcr_snippet id="72970"] ) [242] => stdClass Object ( [post_id] => 2902 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Our mortgage brokers know which lenders will consider a debt agreement when you apply for a mortgage. Please fill in our free online assessment form or give us a call on 1300 889 743 and one of our mortgage brokers will answer all of your queries. ) [243] => stdClass Object ( [post_id] => 31680 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Foreign buyers are a key part of the Australian property market. They help stimulate demand and keep prices on the rise. However, foreign buyers can be a challenge for lenders to deal with, so we're here to make sure you're confident in your ability to find a home loan that will suit your needs. Our team of experts has worked for more than 10 years in the industry, helping customers with all aspects of their property search – from finding the right home, to getting approval for loans. Call us at 1300 889 743 or (+61 2 9194 1700 if you’re overseas) or complete our free online enquiry form.
[wbcr_snippet id="72547"] ) [244] => stdClass Object ( [post_id] => 34934 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Our mortgage brokers specialise in non-genuine savings no-deposit home loans!
Discover if you qualify for a rent as genuine savings home loan by calling 1300 889 743 or by filling out our online enquiry form today.
[wbcr_snippet id="73235"] ) [245] => stdClass Object ( [post_id] => 30589 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Professionally qualified and experienced mortgage brokers can help you prepare an acceptable exit strategy.
Our mortgage brokers know and understand the policies of the major lenders. They are credit specialists that know which banks have more lenient lending guidelines.
You can call us on 1300 889 743 or complete our free online assessment form and one of us will contact you to discuss your situation and loan needs.
[wbcr_snippet id="72756"] ) [246] => stdClass Object ( [post_id] => 50781 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
The options of getting a vacant land loan approved with bad credit are limited due to strict lending criteria.
However, if you can show a credible history of managing your debts then your chances of getting a bad credit land loan approved are higher.
Fortunately, if you know where to look and who to contact, then even within those limited options, you can find a land loan that is suitable for you.
Getting approval for a vacant land loan with bad credit can even help you improve your credit score, if you can make timely repayments on it.
Our mortgage brokers are credit experts who can get your loan approved.
Call us on 1300 889 743 or fill in our free assessment form to get in touch with our award-winning mortgage brokers.
[wbcr_snippet id="73699"] ) [247] => stdClass Object ( [post_id] => 29295 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Discover if you qualify for a home loan as an Australian living in New Zealand!
We have almost 40 Australian lenders and major banks do choose from and most of the time our services are free!
Call 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form today!
[wbcr_snippet id="72205"] ) [248] => stdClass Object ( [post_id] => 51279 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] => Have any questions regarding your new property or your home loan? We’re here to help! To speak with one of our award-winning mortgage brokers, please give us a call on 1300 889 743 or fill in our online assessment form. [sg_popup id=65221] [wbcr_snippet id="72615"] ) [249] => stdClass Object ( [post_id] => 3644 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Find out more
If you'd like to learn more about the NCCP Act and how it'll affect your home loan application, please call 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will get back to you within 24 hours. ) [250] => stdClass Object ( [post_id] => 97980 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>If you’re still not sure about whether to go with a traditional bank or a non-bank for your home loan, the best option is to choose a mortgage broker.
A mortgage broker will assess your situation and consider your needs and give recommendations on the best lenders based on your situation.
Our specialist brokers will come up with tailor-made solutions to your unique circumstances.
To get in contact with them, call us at 1300 889 743 or complete our free assessment form online.
[sg_popup id=65221] ) [251] => stdClass Object ( [post_id] => 50366 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>If you’re still not sure about whether to go with a traditional bank or a non-bank for your home loan, the best option is to choose a mortgage broker.
A mortgage broker will assess your situation and consider your needs and give recommendations on the best lenders based on your situation.
Our specialist brokers will come up with tailor-made solutions to your unique circumstances.
To get in contact with them, call us at 1300 889 743 or complete our free assessment form online.
[sg_popup id=65221] ) [252] => stdClass Object ( [post_id] => 1368 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Get experienced mortgage brokers, like our Home Loan Experts, to do the legwork for you. Firstly, we work out which lenders will approve you for a loan. We do this by asking you to complete a simple online application form. Then, we’ll contact you to understand your situation better. After this, you’ll send us your payslips, bank statements and other documents most lenders require. Then, we look at your situation the way the lenders do and work out if your deposit (usually 10-15%) is sufficient to pay the stamp duty, LMI and other costs associated with the purchase. Once we know which lenders we can expect to approve your loan, we can compare the interest rates, fees and LMI premiums they charge to work out which loan is the cheapest and most suitable for you. Although the rates on professional-package 90% home loans are frequently similar across most lenders, there are often significant differences in their fixed rates, hidden fees and LMI premiums. Finally, we’ll recommend a shortlist of up to five lenders you can choose from and select the appropriate loan, be it a pro-pack, basic loan, line of credit or fixed-rate product. Call us on 1300 889 743 or enquire online if you’d like one of our expert mortgage brokers to do the shopping around for you.
) [253] => stdClass Object ( [post_id] => 98037 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Get experienced mortgage brokers, like our Home Loan Experts, to do the legwork for you. Firstly, we work out which lenders will approve you for a loan. We do this by asking you to complete a simple online application form. Then, we’ll contact you to understand your situation better. After this, you’ll send us your payslips, bank statements and other documents most lenders require. Then, we look at your situation the way the lenders do and work out if your deposit (usually 10-15%) is sufficient to pay the stamp duty, LMI and other costs associated with the purchase. Once we know which lenders we can expect to approve your loan, we can compare the interest rates, fees and LMI premiums they charge to work out which loan is the cheapest and most suitable for you. Although the rates on professional-package 90% home loans are frequently similar across most lenders, there are often significant differences in their fixed rates, hidden fees and LMI premiums. Finally, we’ll recommend a shortlist of up to five lenders you can choose from and select the appropriate loan, be it a pro-pack, basic loan, line of credit or fixed-rate product. Call us on 1300 889 743 or enquire online if you’d like one of our expert mortgage brokers to do the shopping around for you. .
) [254] => stdClass Object ( [post_id] => 98038 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Get experienced mortgage brokers, like our Home Loan Experts, to do the legwork for you. Firstly, we work out which lenders will approve you for a loan. We do this by asking you to complete a simple online application form. Then, we’ll contact you to understand your situation better. After this, you’ll send us your payslips, bank statements and other documents most lenders require. Then, we look at your situation the way the lenders do and work out if your deposit (usually 10-15%) is sufficient to pay the stamp duty, LMI and other costs associated with the purchase. Once we know which lenders we can expect to approve your loan, we can compare the interest rates, fees and LMI premiums they charge to work out which loan is the cheapest and most suitable for you. Although the rates on professional-package 90% home loans are frequently similar across most lenders, there are often significant differences in their fixed rates, hidden fees and LMI premiums. Finally, we’ll recommend a shortlist of up to five lenders you can choose from and select the appropriate loan, be it a pro-pack, basic loan, line of credit or fixed-rate product. Call us on 1300 889 743 or enquire online if you’d like one of our expert mortgage brokers to do the shopping around for you. .
) [255] => stdClass Object ( [post_id] => 98039 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Get experienced mortgage brokers, like our Home Loan Experts, to do the legwork for you. Firstly, we work out which lenders will approve you for a loan. We do this by asking you to complete a simple online application form. Then, we’ll contact you to understand your situation better. After this, you’ll send us your payslips, bank statements and other documents most lenders require. Then, we look at your situation the way the lenders do and work out if your deposit (usually 10-15%) is sufficient to pay the stamp duty, LMI and other costs associated with the purchase. Once we know which lenders we can expect to approve your loan, we can compare the interest rates, fees and LMI premiums they charge to work out which loan is the cheapest and most suitable for you. Although the rates on professional-package 90% home loans are frequently similar across most lenders, there are often significant differences in their fixed rates, hidden fees and LMI premiums. Finally, we’ll recommend a shortlist of up to five lenders you can choose from and select the appropriate loan, be it a pro-pack, basic loan, line of credit or fixed-rate product. Call us on 1300 889 743 or enquire online if you’d like one of our expert mortgage brokers to do the shopping around for you.
) [256] => stdClass Object ( [post_id] => 98040 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Get experienced mortgage brokers, like our Home Loan Experts, to do the legwork for you. Firstly, we work out which lenders will approve you for a loan. We do this by asking you to complete a simple online application form. Then, we’ll contact you to understand your situation better. After this, you’ll send us your payslips, bank statements and other documents most lenders require. Then, we look at your situation the way the lenders do and work out if your deposit (usually 10-15%) is sufficient to pay the stamp duty, LMI and other costs associated with the purchase. Once we know which lenders we can expect to approve your loan, we can compare the interest rates, fees and LMI premiums they charge to work out which loan is the cheapest and most suitable for you. Although the rates on professional-package 90% home loans are frequently similar across most lenders, there are often significant differences in their fixed rates, hidden fees and LMI premiums. Finally, we’ll recommend a shortlist of up to five lenders you can choose from and select the appropriate loan, be it a pro-pack, basic loan, line of credit or fixed-rate product. Call us on 1300 889 743 or enquire online if you’d like one of our expert mortgage brokers to do the shopping around for you.
) [257] => stdClass Object ( [post_id] => 98054 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Interest rate changes can impact your mortgage repayments. Our team of mortgage experts can analyse your current mortgage, explain the potential impact of Cash Rate changes, and explore options that offer more stability. We also have a handy repayment calculator to estimate your new repayments whenever your lender changes your loan’s interest rate.
Please call us on 1300 889 743 or complete our free online assessment form today!
) [258] => stdClass Object ( [post_id] => 98078 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Taking over your parents’ mortgage, whether through buying the property below market value or helping out with the mortgage repayments, is a big decision.
Going about it the wrong way can prove costly in the long run, with future legal disputes possibly affecting your ability to borrow in the future and putting you under financial strain if you already have a home loan.
Speak to your mortgage broker or your lender first. They may be able to provide a solution.
After that, speak to a financial adviser and a solicitor about other possible solutions.
Call us on 1300 889 743 or complete our free online assessment form and we can put you in touch with a bank representative or a solicitor who can help you.
) [259] => stdClass Object ( [post_id] => 98092 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Our mortgage brokers can help you get pre-approval sooner so that you are a step closer to buying your dream home or investment property. They will also help you get a competitive interest rate.
If you are looking for refinance or equity release, then our mortgage brokers can get you access to a wide range of products and services from a panel of over 50 lenders.
Our brokers have considerable knowledge and credit expertise, they can assess your situation better and recommend products accordingly.Our brokers have considerable knowledge and credit expertise, they can assess your situation better and recommend products accordingly.
Call us on 1300 889 743 or fill in our free online assessment form to get in touch with one of our expert mortgage brokers and discuss your situation.
) [260] => stdClass Object ( [post_id] => 98131 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Neobanks are a great alternative to traditional banks and offer a hassle-free process of getting a home loan.
Unfortunately, your option of getting a home loan with a neobank is difficult - with 86 400 being the only one offering home loans.
If you're on the lookout for a home loan at a competitive interest rates, then we can help you choose from our panel of 40 lenders.
Our award-winning mortgage brokers will guide you step-by-step through the process of getting a home loan.
Get in touch by calling us at 1300 889 743 of filling in our free assessment form.
[wbcr_snippet id="72964"] ) [261] => stdClass Object ( [post_id] => 98138 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Let’s imagine a very common occurrence; mum, dad and son bought their owner-occupied property 8 years ago, they borrowed $300,000 from a bank and their property is now worth $700,000.
Son is getting married next month and wants to take out a top-up loan of $20,000 against the home to fund the wedding and honeymoon, mum and dad think this is a brilliant idea rather than giving them cash.
They approach their bank and submit the loan application on the 2nd of July 2019 after the new Code becomes effective, however, their loan submission is declined by their bank.
Because under the new Code, banks need to establish substantial benefit for all borrowers, and in this case, the bank considered the primary loan purpose was for the son solely.
If this happens to you as well don’t worry, our specialist mortgage brokers can help you find you an alternative lender that’s willing to help you out.
Give us a call on 1300 889 743 or please fill in our online assessment form today.
[wbcr_snippet id="72892"] ) [262] => stdClass Object ( [post_id] => 98144 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Unhappy with your recent property valuation? A lower-than-expected valuation can impact your borrowing power and refinancing options.
Our team of experts work with over 50 lenders on our panel and can explore different valuation avenues. We may be able to order you a free upfront valuation with one of them or at least help you make an informed decision on what to do next. We're here to help you get the best possible outcome.
Call us on 1300 889 743 or fill in our free online assessment form to speak with one of our experienced mortga [wbcr_snippet id="72970"] ) [263] => stdClass Object ( [post_id] => 98158 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
If your land is going to be compulsorily acquired by the government, we can’t help you with legal and financial advice.
However, we can help you refinance your existing mortgage and negotiate a great interest rate on your behalf.
Certain properties can be difficult to finance, particularly if you’re from a regional or rural area.
Luckily, we’re specialists in getting home loans approved for unique property types.
Please call us on 1300 889 743 or complete our free online assessment formT to speak with one of our mortgage brokers about your situation.
) [264] => stdClass Object ( [post_id] => 98176 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>As mortgage brokers, we can’t assist you with buying a property, but we can help you get approved for a home loan.
We also have a number of free resources that you can access on our ebooks page, such as negotiating at auction and what to look for when inspecting a property.
If you need a home loan to make your property ownership dreams a reality, call us on 1300 889 743"> +1300 889 743 or complete our free online assessment form today to speak with a mortgage broker.
) [265] => stdClass Object ( [post_id] => 98178 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Professionally qualified and experienced mortgage brokers can help you prepare an acceptable exit strategy.
Our mortgage brokers know and understand the policies of the major lenders. They are credit specialists that know which banks have more lenient lending guidelines.
You can call us on 1300 889 743 or complete our free online assessment form and one of us will contact you to discuss your situation and loan needs.
[wbcr_snippet id="72756"] ) [266] => stdClass Object ( [post_id] => 98188 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>
Home Loan Experts is dedicated to finding our clients the home loan that works best for their needs.
We can pick and choose products from over 50 different banks and lenders, often finding bank employees with better mortgage deals.
Are you looking for a home loan and are employed at a bank or lender?
We can help!
Contact us today, and one of our specialist brokers will help you find the best home loan available from our panel.
Call 1300 889 743 or enquire online.
[wbcr_snippet id="73060"] ) [267] => stdClass Object ( [post_id] => 98204 [meta_key] => add_site_layouts_10_post_editor_option [meta_value] =>Once you’ve submitted your home loan application, you should make sure it has adhered to bank policy.
To do this, you can ask your mortgage broker or the lender:
Please be aware that interest rates and lending policies are subject to change. If they do, even a formal pre-approval may no longer be vaild.
Be sure of current rates and policies before going to auction, preferably the same day or as close to it as possible.
The lenders will most likely not notify you of these details unless you ask.
To find out more about this, see our page on bank policy and lender guidelines or contact us here at Home Loan Experts.
You may enquire online for free or call and speak with one of our specialist brokers on 1300 889 743.
) [268] => stdClass Object ( [post_id] => 1633 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
First home buyers that want to buy a 2 or 3 bedroom home but don’t have the income to afford it may lease out a room to a friend. Technically, this is known as “leasing to a sub tenant”.
Again, this can cause trouble when applying for a loan as many lenders don’t take any rent from flatmates into account when assessing if you can afford a loan.
In this situation, getting a home loan usually depends on:
These situations can be tricky, so please call us on 1300 889 743 or complete our free assessment form to talk to our mortgage brokers about your rent income.
) [269] => stdClass Object ( [post_id] => 59304 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Speeding up your loan process when you need to meet a cut-off date can be extremely exhausting. The technicalities involved may be overbearing for people unfamiliar with the mortgage industry.
Our expert mortgage brokers can help you get through your settlement before Christmas. And if you have trouble deciding on your application process, they can help you with it too!
Just call us on 1300 889 743 or fill in our free online assessment form to discuss viable solutions.
) [270] => stdClass Object ( [post_id] => 34282 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Need help with your home loan?
Whether you need a mortgage or you’re looking to refinance, mortgage brokers are usually free! You can read more about the services that a broker provides on the ‘What Is A Mortgage Broker?‘ page. Are you looking you the best mortgage brokers? Here’s how you find one! Call us on 1300 889 743 or complete this free assessment form. ) [271] => stdClass Object ( [post_id] => 33785 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Whether you need a construction loan or you're looking to release some equity for renovation work, our mortgage brokers understand construction better than most banks! We can be the professional middle man between your builder and your bank to ensure communication is never lost, the loan and drawdown process is smooth and easy, and you're kept up-to-date at all the stages of construction. In that way, you can focus on turning the home of your dreams into a reality. Call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers.[sg_popup id=81314] [wbcr_snippet id="72592"] ) [272] => stdClass Object ( [post_id] => 12244 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
The First Step To Your New Beginning
Home Loan Experts has a commitment to getting the right home loan for your needs and this has helped us earn multiple industry and consumer awards. Our mortgage brokers have helped hundreds of customers navigate the application process and get approved for a home loan without any hassle. Our expertise in specialist lending leads to tough home loans getting approved. Give us a call on 1300 889 743 or enquire online for free to start your new beginning with your dream home. ) [273] => stdClass Object ( [post_id] => 37484 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => TSS visa mortgages are available if you choose the right lender. By presenting a strong case, you can even qualify for significantly reduced interest rates and other home discounts. We have helped thousands of temporary Australian residents on the following visa types:) [274] => stdClass Object ( [post_id] => 77949 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Consult Our Experts
Before building a home, take the time to research and compare prices for materials, labour and permits. You should also consider the different ways to save on building costs and make a budget based on the estimated costs. Talk to our mortgage brokers if you want expert guidance as you apply for a construction home loan. Call us on 1300 889 743 or enquire online today!
) [275] => stdClass Object ( [post_id] => 60864 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Are you a health care worker?
Home loans for health care workers have various offers and concessions available which differ from lender to lender.
As health care workers, going through mortgage brokers for your home loans is always an efficient route. We can find you the lender that best suits your profile and needs.
Our specialist mortgage brokers have their expertise in professional loans. They can make your home loan process much smoother and efficient.
You can also call us on 1300 889 743 or fill in our free assessment form to discuss your situation with one of our specialist mortgage brokers.
) [276] => stdClass Object ( [post_id] => 43049 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Whether you need a construction loan or you're looking to release some equity for renovation work, our mortgage brokers understand construction better than most banks! We can be the professional middle man between your builder and your bank to ensure communication is never lost, the loan and drawdown process is smooth and easy, and you're kept up-to-date at all the stages of construction. In that way, you can focus on turning the home of your dreams into a reality. Call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers. ) [277] => stdClass Object ( [post_id] => 55783 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => As mortgage brokers, we can:Over the next three years, investors can set their eyes on a strong unit market for some capital cities. While homebuyers could rejoice at the fall in house prices, tighter credit conditions could still make getting approved for a home loan difficult. At Home Loan Experts, our mortgage brokers can help you throughout your home-buying or property investment journey. Call us on 1300 889 743 or enquire for free online. ) [279] => stdClass Object ( [post_id] => 84739 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Please complete our free assessment form or call us on 1300 889 743 and we can tell you how you can use your rental payments as proof of your ability to pay off a home loan.
Still have questions? Feel free to comment below and we'll get back to you as soon as possible.
[sg_popup id=81314] ) [280] => stdClass Object ( [post_id] => 84750 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Before building a home, take the time to research and compare prices for materials, labour and permits. You should also consider the different ways to save on building costs and make a budget based on the estimated costs. Talk to our mortgage brokers if you want expert guidance as you apply for a construction home loan. Call us on 1300 889 743 or enquire online today! [sg_popup id=81314] ) [281] => stdClass Object ( [post_id] => 84780 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>We are mortgage brokers who specialise in NZ citizen home loans and are passionate about guiding you through the Australian mortgage process with ease.
We know which banks can accept your application and which offer the best interest rates for non-residents.
If you would like to buy a property in Australia, please call us on +61 2 9194 1700, if you’re overseas, or at 1300 889 743 if you’re in Australia.
You can also complete our free assessment form wherever you are in the world, and one of our specialist brokers will get back to you.
) [282] => stdClass Object ( [post_id] => 84786 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Home loans for health care workers have various offers and concessions available which differ from lender to lender.
As health care workers, going through mortgage brokers for your home loans is always an efficient route. We can find you the lender that best suits your profile and needs.
Our specialist mortgage brokers have their expertise in professional loans. They can make your home loan process much smoother and efficient.
You can also call us on 1300 889 743 or fill in our free assessment form to discuss your situation with one of our specialist mortgage brokers.
) [283] => stdClass Object ( [post_id] => 918 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>As a New Zealand citizen, you generally have similar rights and requirements as Australian citizens when it comes to purchasing a property.
The typical documents you will need to provide include proof of identity such as a passport, birth certificate, or driver's licence. Additionally, you'll need to submit visa documentation, including your Special Category Visa (SCV) or other valid Australian visa. Financial documents such as proof of income, evidence of deposit or savings, and details of your current bank, loan, and credit-card accounts are also required. Property-related documents such as the contract of sale and conveyancing paperwork are necessary for the application process.
Our Home Loan Application Process page has an in-depth explanation of what documents are needed and what each step entails.
Lenders may require additional documents depending on your specific circumstances or the type of property you intend to buy. Our experts are here to ensure you have all the necessary paperwork prepared for your home loan application. Call us at 1300 889 743 or fill out our free online assessment form, and we’ll get back to you as soon as possible.
) [284] => stdClass Object ( [post_id] => 940 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Yes, it’s possible to get approval for a low doc trust loan.
A low doc loan will allow you to declare your income rather than providing tax returns as proof of your income.
There are only a few select lenders that can consider low doc loans for trusts so it’s critical that you talk to us on 1300 889 743 or complete our free assessment form before you apply for a low doc loan using a trust.
) [285] => stdClass Object ( [post_id] => 31234 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Taking over your parents’ mortgage, whether through buying the property below market value or helping out with the mortgage repayments, is a big decision.
Going about it the wrong way can prove costly in the long run, with future legal disputes possibly affecting your ability to borrow in the future and putting you under financial strain if you already have a home loan.
Speak to your mortgage broker or your lender first. They may be able to provide a solution.
After that, speak to a financial adviser and a solicitor about other possible solutions.
Call us on 1300 889 743 or complete our free online assessment form and we can put you in touch with a bank representative or a solicitor who can help you.
) [286] => stdClass Object ( [post_id] => 1555 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>If you'd like to know the cheapest LMI premium available for your loan, fill in our free assessment form or contact us on 1300 889 743.
One of our mortgage brokers will assess which lenders and LMI products you qualify for and help you work out the cheapest possible LMI premium.
) [287] => stdClass Object ( [post_id] => 4468 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>We're specialist mortgage brokers that can help you get your mortgage approved.
If your lender is asking you to sign a stat dec that you believe is unreasonable, talk to us and we can help you find a bank that doesn't have this requirement.
If you'd like to make an appointment or speak to a mortgage broker, please call 1300 889 743 or complete our free assessment form today.
Still have questions? Feel free to comment below and we'll get back to you as soon as possible.
[sg_popup id=65221] ) [288] => stdClass Object ( [post_id] => 86834 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Make The Most Of This New Financial Year
The 2024-25 financial year brings numerous opportunities for homebuyers and homeowners. With the right guidance, you can maximise these benefits and make informed decisions.
At Home Loan Experts, our knowledgeable brokers are ready to assist you every step of the way. We’re here to help. Call us on 1300 889 743 or enquire online free, today!
) [289] => stdClass Object ( [post_id] => 31076 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>The Australian Prudential Regulation Authority (APRA) asked the banks to reduce the number of interest-only home loans they were approving in a move to reduce system-wise risk.
This was in response to the likelihood of a slowdown in housing price growth and the affect it would have on highly-leveraged homeowners.
The industry regulatory believed too many homeowners were choosing interest only home loans without being fully aware of the increased cost of these loans.
Interest-only owner-occupier loans make up around 40% of all interest-only loan approvals.
As a result, APRA forced banks to limit interest only approval to just 30% of all residential lending.
Despite this, it's still possible to qualify for an interest only loan so speak with one of our experienced mortgage brokers about your situation.
Call us 1300 889 743 or complete our free online assessment form today.
) [290] => stdClass Object ( [post_id] => 2565 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Yes! The banks and mortgage insurers are very wary if there are black marks or even too many credit enquiries on your credit file.
Please enquire online or call us on 1300 889 743 to discuss your situation in detail.
We may be able to find a lender that can still consider your situation.
Sometimes, we may even suggest you speak with a reputable credit repair service to improve your credit file.
) [291] => stdClass Object ( [post_id] => 189 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Some lenders rely on a credit score when assessing applications, while others have an experienced credit manager assess each loan on its merits.
When a loan is submitted to a lender that uses a credit score, the details are typed into a computer system which can then automatically assess the risk of several parts of information and give the application a score which indicates a statistical chance that the loan will go into default.
The sheer size and experience of some lenders allows them to have enough data to make this statistical chance of default accurate enough to use to assess loans. As such, they simply decline any loans that do not meet the credit score requirement!
Lenders do not publish what makes up their low doc credit score equations, however we expect that they assess your occupation, time at your current address, time in your business as well as details taken from your credit file with Veda Advantage.
As low doc loans have a past history of higher arrears, lenders are much stricter on credit scoring for all new low doc submissions.
If your credit score is the reason why your lender has declined your loan then call us on 1300 889 743 or enquire online and we can help submit your loan to a lender that does not use a credit scoring method of assessing loans.
) [292] => stdClass Object ( [post_id] => 48961 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Speak with one of our award-winning specialist mortgage brokers today to get the best deal on your mortgage from one of 40 lenders on our panel.
You can do that by giving us a call on 1300 889 743 or by filling in our online assessment form
) [293] => stdClass Object ( [post_id] => 13404 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Our mortgage brokers have a strong relationship with many of the banks and lenders. We can order a free valuation up front with one of our lenders that is suitable for your situation.
Call us on 1300 889 743 or fill in our free assessment form and we can determine the right bank for you.
) [294] => stdClass Object ( [post_id] => 79703 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Ready to tap into the potential of high-rental-yield suburbs? We share your passion for making smart investments and are here to make it happen for you. Let us assist you in securing the perfect home loan for your investment journey. Start now! Call us today at 1300 889 743 or complete our free online assessment form.
) [295] => stdClass Object ( [post_id] => 32510 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Speak to one of our mortgage brokers by calling 1300 889 743 or simply fill in our free assessment form and we can let you know if you qualify!
We can also help you get a Multi-Option Facility (MOF) if you already have multiple credit facilities and need help managing them.
) [296] => stdClass Object ( [post_id] => 10828 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Do you have a desire to own a dugout, a strawbale home, a mudbrick home, a log cabin or a rammed earth construction? Please contact us and we can arrange a home loan for you.
We know which lenders will consider financing an unusual home. We are the experts in getting you the mortgage for your unconventional home.
Please call us on 1300 889 743 or enquire online and let us help you get approval!
) [297] => stdClass Object ( [post_id] => 27380 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>You usually need to pay Lenders Mortgage Insurance (LMI) if you borrow more than 80% of the property value.
It protects the lenders in case you default on the loan. The more you borrow, the more riskier the loan becomes for the lender, and the more you have to pay in LMI.
However, the good news is that many lenders will allow you to capitalise LMI. This means that you can add the LMI premium to the top of your loan, and a single penny doesn’t have to come out of your pocket.
For example, if you’re taking out a loan of $370,000 on a $400,000 property, you may have to pay at least $10,000 in LMI. If you add this amount to the top of your loan, then it will bring your loan to $380,000.
Capitalising your LMI allows you to borrow with a smaller deposit, because you don’t have to pay for the LMI from the gifted deposit.
Our mortgage brokers have in-depth knowledge about Lenders Mortgage Insurers and the guidelines that they use to assess loan applications.
Please call us on 1300 889 743 or complete our free assessment form to discuss your situation with a mortgage broker.
) [298] => stdClass Object ( [post_id] => 5319 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Vendor finance comes with heavy risks. If you’re not able to save for a home deposit, there are other low deposit and low deposit home loan options available.
Our mortgage brokers are here to discuss these solutions with you. Call us on 1300 889 743 or fill in our free no-obligation assessment form.
) [299] => stdClass Object ( [post_id] => 503 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Our mortgage brokers specialise in helping people to finance properties that many lenders don’t accept. We can help you to find a lender that will accept your property as security and get you approved for the loan amount that you require.
Please call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will let you know your finance options.
[sg_popup id=65221] [wbcr_snippet id="73513"] ) [300] => stdClass Object ( [post_id] => 31382 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>As a mortgage broker that specialises in commercial loans, we can help you secure the finance you need to buy an accountancy, establish a new practice and even help you cover working capital requirements.
You know tax, but we're accounting practice commercial loan experts!
Call us today on 1300 889 743 or complete our free assessment form and tell us about your situation.
[wbcr_snippet id="75732"] ) [301] => stdClass Object ( [post_id] => 71811 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Contact us at 1300 889 743 or fill in our online assessment form and our specialist mortgage brokers will help you refinance your home loan! ) [302] => stdClass Object ( [post_id] => 57662 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>The 2020 budget is aimed at rebuilding the Australian economy after the effects of COVID-19, it will help first home buyers to achieve their dreams of homeownership with the First Home Loan Deposit Scheme. With the budget allocated for transport and infrastructure development in each state and the territories, it might help to increase property prices and values in the near future. The tax cut, which means more money in people’s pockets may also assist people looking to get a home loan as they will have slightly better affordability. Are you looking to buy a home or invest in property? Our mortgage brokers are here to help. Please call us on 1300 889 743 or fill in our free assessment form.
) [303] => stdClass Object ( [post_id] => 64962 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => If you are still confused about cash-out refinance vs home equity loans, Home Loan Experts can help! Home Loan Experts’ mortgage brokers conduct a pre-assessment to help you find the best home loan option. Only then will they go through with the application process, so your home loan is approved. Call us on 1300 889 743 or enquire online today! [wbcr_snippet id="72299"] ) [304] => stdClass Object ( [post_id] => 64087 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>In brief, to inspect the property for best purchasing decisions:
If you want to talk to a real estate agent for help with property inspection, call us on 1300 889 743 or fill in the free online enquiry form on our website. Our upcoming Home Buyers Institute's course will help you understand more about home buying. Look out for the launch on our website!
[sg_popup id=65221] ) [305] => stdClass Object ( [post_id] => 3847 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>We're the experts in home loans for buying a property below market value!
Did you know some of our lenders offer purchase cash backs for property buyers?
Please enquire online or call 1300 889 743 and one of our mortgage brokers can provide you with several competitive options to choose from.
) [306] => stdClass Object ( [post_id] => 14659 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>At the moment, there is a limited scope of information that banks can access to get a picture of you as a borrower.
Since the rollout of positive credit reporting or comprehensive credit reporting (CCR) in 2014, a whole lot more of your credit history is available.
This has both a negative and positive impact on your Equifax Score /VedaScore depending on your situation.
Apart from the information that's already available to credit providers, your Equifax Score (VedaScore) now takes into account the following:
Apply for a mortgage
Do you have a low Equifax Score /VedaScore? Our mortgage brokers are experts in credit scoring and know which lenders will assess your application favourably.
Please call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will let you know if you can qualify for a home loan.
[sg_popup id=65221] [wbcr_snippet id="75314"] ) [307] => stdClass Object ( [post_id] => 7091 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Think you’re ready to consolidate?
There is no substitute for expert advice!
Call us on 1300 889 743 or enquire online. We are the experts in bad credit loans and can help you regain financial control through debt consolidation. Speak to us today!
) [308] => stdClass Object ( [post_id] => 198 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Just give us a call on 1300 889 743 or enquire online and we’ll take care of the shopping around and paperwork for you. Best of all for most standard types of home loans our services are completely free!
) [309] => stdClass Object ( [post_id] => 27216 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>If your subcontractor home loan application is submitted to the right bank, there’s a high probability of getting approval.
All loan types and features are available!
All home loan types are available, including basic home loans, professional packages, fixed rate home loans and more. You’ll also have access to all standard full doc home loan features such as interest-only, line of credit, 100% offset, redraw and extra repayments.
Interest rates are very similar to a standard home loan as well!
We’re credit specialists who can help you take out a subcontractor home loan to buy a home or get a better interest rate by refinancing.
Call us today on 1300 889 743 or complete our free assessment form to discover what fantastic subcontractor home loan packages may be available to you.
) [310] => stdClass Object ( [post_id] => 35885 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form to speak with one of our experienced business mortgage brokers.
[wbcr_snippet id="75868"] ) [311] => stdClass Object ( [post_id] => 23608 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Our mortgage brokers are specialists in SMSF loans and know which banks can approve your loan and give you a low interest rate.
Call us on 1300 889 743 or fill in our free assessment form to find out if you can buy a commercial property in your SMSF.
) [312] => stdClass Object ( [post_id] => 28441 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Buying a home with others may be a cheaper option but there is a lot more planning involved than buying a property by yourself and/or in a joint tenancy arrangement.
It's essential you get independent legal advice in order to avoid many common traps that come with a co-ownership arrangement.
Call us on 1300 889 743 or complete our free assessment form so one of our mortgage brokers can properly assess your needs and tell you whether a co-ownership investment loan is right for you and what you’re looking to achieve.
) [313] => stdClass Object ( [post_id] => 7916 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Yes, as most banks offer interest in advance loan products, for a term of 12 months.
Pre-paying your interest in advance has many taxation advantages, making it an attractive option for investors or those that are refinancing.
You may also qualify to borrow the interest!
If you wish to apply for an interest in advance loan, please speak to us on 1300 889 743 or enquire online today.
) [314] => stdClass Object ( [post_id] => 54364 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
If stamp duty is abolished, this could mean that you won’t have to save a larger deposit to qualify for a home loan. You won’t have to rely on the banks to cover the cost of stamp duty for you.
Low deposit home loans are also available, and the First Home Loan Deposit Scheme is available for first home buyers.
Talk to our mortgage brokers today to see if you qualify for a home loan. Call us at 1300 889 743 or fill in our free assessment form.
) [315] => stdClass Object ( [post_id] => 68537 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Our team of specialist mortgage brokers can help you buy a property. Contact us at 1300 889 743 or fill in our online assessment form and we will contact you. [wbcr_snippet id="73290"] ) [316] => stdClass Object ( [post_id] => 35503 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Discover if you're eligible for a home loan with reward points so you can start saving on flights. Call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.) [317] => stdClass Object ( [post_id] => 30436 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Unlike many banks, we understand how freelancers work. Our mortgage brokers specialise in getting tough home loans approved and a freelancer mortgage is one of them.
With the knowledge of the lending policies of various banks as well as non-bank lenders, you can find out which lender is right for you and your loan needs.
Please contact us on 1300 889 743 or fill in our free online assessment form to speak with one of our mortgage brokers today.
[wbcr_snippet id="74565"] ) [318] => stdClass Object ( [post_id] => 538 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
The interest rate for your loan is set by the lender, not by us. Due to the large number of lenders and loan products that we offer it is not possible for us to list every interest rate on our website.
Please call us on 1300 889 743 and we can provide you with an interest rate quote for your situation.
) [319] => stdClass Object ( [post_id] => 2075 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Our mortgage brokers are specialists in helping people who have difficulty proving their income.
Unlike other mortgage brokers, we can quickly work out which lender is the most suitable for your situation.
Please give us a call on 1300 889 743 or complete our free assessment form to speak with of our mortgage experts.
[wbcr_snippet id="75942"] ) [320] => stdClass Object ( [post_id] => 45445 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>We can assess your situation and let you know where you stand.
In some cases, we can help you to make a plan to monitor your spending over a 3-month period and cut back in discretionary expenses where appropriate.
Call us on 1300 889 743 or fill in our free assessment form.
We can fully assess your financial situation and let you know if you're ready to get a home loan.
) [321] => stdClass Object ( [post_id] => 35507 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Speak with one of our commercial loan experts on 1300 889 743 or complete our online enquiry form and will get back to you to discuss your situation.
[wbcr_snippet id="75936"] ) [322] => stdClass Object ( [post_id] => 32165 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Make your business dreams a reality faster and cheaper!
Call us on 1300 889 743 or complete our free assessment form and discover if you qualify for a business loan with a guarantor.
) [323] => stdClass Object ( [post_id] => 321 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>If you'd like to know which lenders offer the cheapest no deposit building loans, please complete our free assessment form or call us on 1300 889 743 and our specialist brokers will get back to you with the most suitable rates and fees.
[wbcr_snippet id="71933"] ) [324] => stdClass Object ( [post_id] => 68514 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Once you know how you can improve your chances of a home loan approval, you might be wondering when’s the right time to reapply?
The best time to apply depends on the issues the lender mentioned that caused the rejection. For example, if the reason was a high DTI, it would take time for you to pay off your debts to lower the DTI ratio. Once your DTI ratio is lowered, you can apply again.
However, it could just be a case of finding the right lender.
You can increase your chances of approval by taking the help of a mortgage broker. At Home Loan Experts, we have a wide range of lenders on our panel. Our mortgage brokers know that what is a roadblock for one lender may be accepted by another. We understand your financial situation and will recommend lenders that are suited to your needs. Call us on 1300 889 743 or enquire online today to take a step towards getting approved for a home loan.
[wbcr_snippet id="72904"] ) [325] => stdClass Object ( [post_id] => 69070 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => If you’re having trouble deciding whether a capital-growth or rental-yield strategy is best for you, Home Loan Experts can help. Call us at 1300 889 743 or enquire online to find out which lenders can help with your investment loan. ) [326] => stdClass Object ( [post_id] => 74777 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>If you keep waiting for the right time to buy, you could:
Are you still not sure whether to buy the property now or wait until rates start to cool? Home Loan Experts’ mortgage brokers will help you make the right decisions. Call us on 1300 889 743 or enquire online today.
) [327] => stdClass Object ( [post_id] => 59607 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Our mortgage brokers are updated with lender rates and policies.
They can get your application approved the first time around.
If you’re planning to return to Australia or have returned recently, we can help!
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or enquire online to discover the best options for you.
) [328] => stdClass Object ( [post_id] => 34993 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>We’re experts in residential and commercial developments!
Call us on 1300 889 743 or complete our free assessment form and we can let you know how much you can borrow to get your project off the ground and start earning some return on your investment.
[wbcr_snippet id="75451"] ) [329] => stdClass Object ( [post_id] => 1362 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Which lenders are the most competitive?
We usually work out which lenders can approve your home loan then work out what the best loans on offer from those lenders are.
There is no point shopping around for the best interest rate only to get your loan declined by the lender you choose!
If you make many applications, this will damage your credit score, which in turn will reduce your chances with other lenders. So don’t just apply with several lenders to see who approves your loan.
If you’d like to know which bank or lender is most suitable for your 95% loan then please call us on 1300 889 743 or fill in our free assessment form.
) [330] => stdClass Object ( [post_id] => 35497 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Find out if you qualify!
Call 1300 889 743 or fill in our online enquiry form to speak with a franchise loan expert.
) [331] => stdClass Object ( [post_id] => 35637 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Discover if you qualify for a smash repairs commercial loans by calling 1300 889 743 or by completing our free assessment form today.
[wbcr_snippet id="75931"] ) [332] => stdClass Object ( [post_id] => 3674 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Our mortgage brokers are experts in helping people to buy properties leased through the NRAS!
Please call us on 1300 889 743 enquire online and one of our award-winning mortgage brokers will help you to apply for a loan with a lender that can help with your situation.
[wbcr_snippet id="73649"] ) [333] => stdClass Object ( [post_id] => 1475 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Here at Home Loan Experts, our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders.
Please complete our free assessment form or call us on 1300 889 743 to discuss your situation with a mortgage broker who will help you find a lender that can accept your short term employment.
[wbcr_snippet id="74425"] ) [334] => stdClass Object ( [post_id] => 35844 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
We can assess your situation for free and give you an indication of how much you can afford to borrow.
All you have to do is give us a call on 1300 889 743 or complete our free assessment form and tell us a little about your situation.
) [335] => stdClass Object ( [post_id] => 7051 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>People refinance their home loans for a variety of reasons. Refinancing is the process of repaying your old home loan with a new home loan, usually from a different lender.
An internal refinance is the term used if you are repaying your old loan with a new loan from the same lender.
A mortgage broker can help you with both an internal and external refinance.
Refinancing to save money is the main reason why people choose to refinance. If your lender is no longer competitive then you have little alternative but to move on.
The difference between lenders can be stark and it quite common for our customers to save thousands of dollarsjust by changing home loans.
Other customers of ours refinance to consolidate debt. This is the process of paying off multiple debts such as your home loan, credit card, personal loan and HECs / HELP debt all into one home loan.
The more expensive unsecured loans are paid out by your new loan which means that overall you will have a lower rate and longer loan term.
This reduces the size of the repayments and reduces the amount of interest you pay.
There are many other reasons to refinance. These may include refinancing because your current lender can’t approve a loan increase, refinancing to release equity or refinancing because your current lender doesn’t give you a good level of service.
Looking to refinance? Call us on 1300 889 743 or enquire online today and we'll make sure that you get the best rate around!
) [336] => stdClass Object ( [post_id] => 65579 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Home Loan Experts’ mortgage brokers are available to assist you with your home loan. We can help you navigate the current processes and lending guidelines to get you approved for a home loan during a lockdown. Call us on 1300 889 743 or complete our free assessment form.
) [337] => stdClass Object ( [post_id] => 310 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Contact us on 1300 889 743 or complete our free assessment form and our expert mortgage brokers will let you know if you’re eligible to borrow 100% or work out if you need to save a deposit and what interest rate discounts you may be eligible for.
We work with all the major bank and non-bank lenders and charge no fees for our services for most standard residential loans.
[wbcr_snippet id="71915"] ) [338] => stdClass Object ( [post_id] => 382 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
There are many advantages to agency work, including employment flexibility and the option of trying out various different employers, rather than committing to full-time work.
In addition to this, employment is abundant, and labour is in short supply. However, there are disadvantages!
If you’re switching from temp job to temp job constantly, your bank will have trouble with your home loan application.
Our mortgage brokers can help!
Call us on 1300 889 743 or complete our free assessment form to get expert advice from our specialist team!
) [339] => stdClass Object ( [post_id] => 32070 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
We have a number of lenders to choose from on our panel and know exactly how to build a strong application with the right lender.
Our mortgage brokers also have the credit skills and relationships with a number of major banks and lenders to negotiate sharp interest rates that aren't advertised to the general public.
Discover if you qualify for a commercial property guarantor loan!
Call us on 1300 889 743 or complete our free assessment form to speak with one our specialist mortgage brokers.
[wbcr_snippet id="75596"] ) [340] => stdClass Object ( [post_id] => 35362 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Our website is one of the best home loan websites in Australia, full of handy tips and guides that can help you to make the right choice in home loan.
We've also got plenty of tools and calculators, whether you need to calculate the benefits of buying a home versus continuing to rent, work out your borrowing power or even calculate your negative gearing benefits from your investment property.
Speak with an online mortgage broker by calling 1300 889 743 or by completing our online enquiry form today.
) [341] => stdClass Object ( [post_id] => 20502 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Would you like to buy a home or investment property?
Find out which bank will give the best discounts on home loans for dentists and dental practitioners!
Call us on 1300 889 743 or complete our free assessment form today.
[wbcr_snippet id="74152"] ) [342] => stdClass Object ( [post_id] => 67210 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Let’s face it. We can’t do everything by ourselves. For example, managing property takes a lot of time. A property manager could do it for you, relieving you of all of that stress for just a few hundred dollars a month. And when you’re ready to buy your property, you could miss out on an excellent deal on your mortgage if you don’t ask a mortgage broker.
Solution
Take help where necessary. Experts are there to ease your stress during this long investment journey. If you need help from an expert mortgage broker specialising in investment loans, please give Home Loan Experts a call on 1300 889 743 or fill in our free assessment form.
) [343] => stdClass Object ( [post_id] => 31451 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>As mortgage brokers, we can’t advise on the legal and tax implications of finalising a deceased estate.
However, if you were joint owners of a property with the deceased, we can assess your financial situation and let you know if we can refinance your home loan so you can keep your home.
We know lenders that will take a common sense approach to your situation!
Call us on 1300 889 743 or complete our free assessment form today to speak to one of our specialist mortgage brokers.
[wbcr_snippet id="72890"] ) [344] => stdClass Object ( [post_id] => 25755 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Apart from due diligence on the business itself, your business plan and forecasts should consider predicted:
What should be in the lease arrangement?
Leasehold restaurants are normally sold as ‘plus stock’ but you should get in touch with a qualified solicitor so they can help you negotiate this with the vendor.
Stock items include certain appliances, machinery and even some long life food products.
Is the equipment fit for purpose and under warranty?
Similarly, the establishment may require certain fixtures and fittings to be installed before you can start operating.
Are you or the vendor liable for installing these fittings?
These details should be clearly outlined in the lease agreement before signing. Again, you can negotiate this with the help of a business broker and solicitor.
Should I buy a freehold going concern restaurant instead?
Although leasehold business purchasers enjoy a much higher return on their investment, the worst case scenario, the business failing, usually means the loss of any money you outlaid for the business.
Deciding on which ownership to choose comes down to your circumstances and your lifestyle.
The great thing about a freehold arrangement is that the land itself retains value even if the business sinks.
Please get in touch with us on 1300 889 743 or fill in our free assessment form so we can properly assess your situation and discuss freehold and leasehold options with you.
) [345] => stdClass Object ( [post_id] => 64740 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Whether you’re still looking for a property or you’ve already found one to your liking, you should:
Please speak with one of Home Loan Experts’ specialist mortgage brokers by giving us a call on 1300 889 743 or filling in our online enquiry form to get pre-approved and help you on your journey towards home ownership.
) [346] => stdClass Object ( [post_id] => 3889 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>There are several reasons why your loan may be declined when you apply for formal approval.
How can we help?
Our mortgage brokers have worked in the credit department for major lenders.
Their high level of knowledge and experience means they know which bank will approve your loan.
We know which lenders offer reliable pre-approvals and how to get the other lenders to fully assess your application.
Don’t risk losing your deposit at auction!
Please complete our free online assessment form or call us on 1300 889 743 and one of our mortgage brokers can make sure you get the finance you need to purchase a property.
) [347] => stdClass Object ( [post_id] => 74720 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Having a very recent pre-approval is essential for good negotiating power when you search for your dream house. Don’t worry. Home Loan Experts can help you get pre-approval. Call us on 1300 889 743 or complete our free assessment form to get in touch with our mortgage brokers now!
) [348] => stdClass Object ( [post_id] => 13678 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Your credit history with Equifax, including your Equifax Score (previously VedaScore), is without a doubt the single most important factor that the lenders use to calculate your credit score.
You can use our credit score calculator to work out which aspects of your situation will be considered to be a high risk by the banks.
Does applying with different banks help?
Many people are not aware that applying for several loans or credit cards in a short period of time has a significant negative effect on their credit score.
People who apply for several home loans at the one time are almost always declined, and wonder why they failed a lender's credit score.
It's best to work out which banks you can qualify with and then make just one application. If that's declined then talk to one of our mortgage brokers by calling 1300 889 743 or enquiring online.
Can I trick the bank's credit score?
Don't try to "game" the lenders system by changing the information in your loan application.
If their system identifies any inconsistencies between the information on your Equifax credit file, your supporting documents, their own system and your application, then this will negatively affect your score or will result in your loan being declined.
Do you need help to get approved for your home loan? Our mortgage brokers are experts in credit scoring, and can help you to apply with a lender that does not credit score.
Please call us on 1300 889 743 or enquire online and one of our brokers will contact you to go through your situation.
) [349] => stdClass Object ( [post_id] => 70134 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => There are some trade-offs when you apply with non-bank lenders. Their interest rates are often higher, they have more postcode restrictions on where you buy a property with their loans, and you may get to borrow only up to 80% of the property value. At Home Loan Experts, we have over 50 lenders on our panel, including non-banks and specialist lenders. Call us on 1300 889 743 or enquire online and we can help you find the right lender. ) [350] => stdClass Object ( [post_id] => 84764 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Whether you're a casual teacher, part-time lecturer or school principal, we're here to assist you every step of the way. We share your passion for making a difference. Our home Loan Experts have seven years of experience, on average, as mortgage brokers. They will help you explore teacher home loan options and guide you towards home ownership.
Call us at 1300 889 743 or fill out our free online assessment form to get started now. Let's make your dream of owning a home a reality together!
) [351] => stdClass Object ( [post_id] => 31860 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>We're not valuers but we can help you qualify for a commercial property loan!
If you're happy with the cap rate of a property you've found and you've undertaken further due diligence, get in touch with us and we can help you qualify for a commercial loan, whether you're buying a freehold or need a business loan as well.
We have strong relationships with the commercial credit departments of a number of major banks as well as specialist lenders.
Because we know the key decision makers, we know how to build a strong case so you have a strong chance to get approved the first time around and even negotiate reduced commercial interest rates.
Call us today on 1300 889 743 or complete our free assessment form and tell us about the commercial property you're looking to buy.
[wbcr_snippet id="75453"] ) [352] => stdClass Object ( [post_id] => 31860 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
We're not valuers but we can help you qualify for a commercial property loan!
If you're happy with the cap rate of a property you've found and you've undertaken further due diligence, get in touch with us and we can help you qualify for a commercial loan, whether you're buying a freehold or need a business loan as well.
We have strong relationships with the commercial credit departments of a number of major banks as well as specialist lenders.
Because we know the key decision makers, we know how to build a strong case so you have a strong chance to get approved the first time around and even negotiate reduced commercial interest rates.
Call us today on 1300 889 743 or complete our free assessment form and tell us about the commercial property you're looking to buy.
[wbcr_snippet id="75453"] ) [353] => stdClass Object ( [post_id] => 35486 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Whether you've sold your property or you're planning to, give us a call on 1300 889 743 or complete our free assessment form.
We can help you to get approved for your new home loan and give you an estimate of the costs of buying a new property.
In that way, we can set your loan amount in a way that minimises your out-of-pocket costs.
[wbcr_snippet id="73257"] ) [354] => stdClass Object ( [post_id] => 26620 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Do you qualify for a 5% deposit home loan?
Speak to an experienced mortgage broker that specialises in 5% deposit home loans.
It can sometimes be difficult to get approved but with a professional to help you present a strong case you’re in with a better chance.
Call 1300 889 743 or fill in our free assessment form and we can tell you which home loan option is right for you.
) [355] => stdClass Object ( [post_id] => 69979 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => (Note the substantial drop in LMI as LVR declines from 91% to 90%.) Use our LMI calculator to see how much you can save with waived LMI, then call our mortgage brokers to find out if you qualify. Call us on 1300 889 743 or enquire online.) [356] => stdClass Object ( [post_id] => 69979 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => (Note the substantial drop in LMI as LVR declines from 91% to 90%.) Use our LMI calculator to see how much you can save with waived LMI, then call our mortgage brokers to find out if you qualify. Call us on 1300 889 743 or enquire online.
) [357] => stdClass Object ( [post_id] => 36850 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Please call us on 1300 889 743 or fill in our online enquiry form so we can properly assess your situation and choose a lender that is likely to approve your home loan.
HECS shouldn't stop you from buying your dream home!
) [358] => stdClass Object ( [post_id] => 334 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>With a booming economy and affordable locations, many foreign investors are buying properties in Australia.
If you’re looking to buy a house in Australia from overseas, you may wish to speak to our mortgage brokers.
We can advise you of your prospects of obtaining finance and help you apply with the right lender.
When you finally buy your investment property, you may wish to enlist the services of a real estate agent who will help you find suitable tenants for your house.
Also, check out the Foreign Investment Review Board (FIRB) page to find out if you need Government approval to purchase the property in Australia.
To speak to experts in non-resident mortgages call us on 1300 889 743 (+61 2 9194 1700 for callers outside Australia) or enquire online today!
) [359] => stdClass Object ( [post_id] => 911 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
The lender that we apply with will complete a ‘serviceability assessment’ to work out how large of a loan you can afford to repay.
The method that they use is much stricter than what they normally use with Australian citizens living in Australia.
Most lenders will use
That means that most lenders allow you to borrow much less than you can actually afford!
If you apply with the right lender, you’ll have your income accepted and a much higher chance of getting approved.
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to get assistance from one of our specialist mortgage brokers.
) [360] => stdClass Object ( [post_id] => 29628 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Unlike other Australian mortgage brokers, at Home Loan Experts (HLE), we're specialists in getting home loans approved for Australian expats living in Japan.
We are accredited with over 50 lenders including the major four banks and Australia's top lenders.
We can quickly find you the right home loan for situation and, in most cases, at a competitive interest rate!
If you're an Australian living in Japan and looking for a home loan, we can help!
Please give us a call on 1300 889 743 during business hours (+61 2 9194 1700 from outside of Australia) or complete our free assessment form, and one of our experienced mortgage brokers will contact you with a list of suitable solutions for your situation.
) [361] => stdClass Object ( [post_id] => 29638 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Australian expats are essentially Australian citizens, and banks take that into consideration when you apply for a home loan.
This essentially means that you'll be offered the same interest rates and home loan features as citizens who are Australian residents.
Despite living in Hong Kong, you can get competitive interest rates and access all home loan features, including the ability to make extra repayments, professional package discounts, salary crediting, a 100% offset account and more.
Speak with one of our credit specialists by calling 1300 889 743 (+61 2 9194 1700 if you're overseas) or complete our free online assessment form and find out how we can help you choose the right lender.
) [362] => stdClass Object ( [post_id] => 29781 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Choosing the right lender is the key to getting approved for an Australian expat in China mortgage.
We have relationships with almost 50 different lenders including the major banks, we can help you find the right lender for your situation.
Our mortgage brokers are specialists in mortgages for Australian expats in China! Did we mention that most most of our services are free?
Call us on 1300 889 743 (+61 2 9194 1700 if you're overseas) or fill in our free online assessment form today.
) [363] => stdClass Object ( [post_id] => 30720 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Our mortgage brokers specialise in helping Australian expats in Thailand apply for a home loan in Australia.
Choosing the right lender is extremely important. Since we have relationships with more than 50 different lenders, we can help you find the right lender for your situation.
Most of the time, we can negotiate a great price as well!
Speak with us today by calling 1300 889 743 (+61 2 9194 1700 from outside of Australia). Better yet, complete our free online assessment form and one of our credit specialists will Contact you to discuss your situation.
[wbcr_snippet id="72301"] ) [364] => stdClass Object ( [post_id] => 30828 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Normally, if your financial documents are in Deutsch, or any other foreign language, then lenders may require you to provide an interpreter's certificate. This is because some lenders don't accept documents that are in a foreign language.
For those of you who don't know, an interpreter's certificate is an official, certified document that translates the original documents to English.
You can generally get an interpreter's certificate with the help of the Australian Consulate in Germany.
Apply with the right lender today!
Call us on 1300 889 743 (+61 2 9194 1700 if you're overseas) or fill in our free online assessment form and we can help you negotiate a great home loan with a suitable lender.
[wbcr_snippet id="72213"] ) [365] => stdClass Object ( [post_id] => 1498 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Our mortgage insurance calculator is updated regularly.
However, there are other factors the LMI calculator cannot consider.
Some lenders have different sets of LMI premiums depending on the nature of your application or they may have premium loadings for particular loan purposes.
For an exact quote, please contact one of our mortgage brokers by calling 1300 889 743.
Our LMI calculator asks for more information than other calculators you may find online.
In this way, it can give a more accurate result by:
If you're ready to apply for a home loan, please call us on 1300 889 743 or enquire online.
A Home Loan Experts mortgage broker will give you a call to discuss the cheapest LMI premiums available for your situation.
[sg_popup id=81314] ) [366] => stdClass Object ( [post_id] => 2369 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Apply For A Rental Letter Home Loan Today
Please complete our free assessment form or call us on 1300 889 743 and we can tell you how you can use your rental payments as proof of your ability to pay off a home loan.
Still have questions? Feel free to comment below and we'll get back to you as soon as possible.
[sg_popup id=81314] ) [367] => stdClass Object ( [post_id] => 30471 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Please note that even if you find a great interest rate on an SMSF investment loan, most lenders will restrict your loan to 70% of the property value. Our mortgage brokers specialise in SMSF loans and know lenders that can let you borrow up to 80% of the purchase price. You can call us on 1300 889 743 or complete our free online assessment form to check if you qualify.) [368] => stdClass Object ( [post_id] => 55617 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
There is only one way to be sure, that is to have one of our mortgage brokers do a full credit assessment and a funding position calculation for you.
We’re here to help you get the best deal based on your situatio!
Get started on your home buying journey by giving us a call on 1300 889 743 or by filling in our online assessment form.
[sg_popup id=65221] ) [369] => stdClass Object ( [post_id] => 11130 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>If you are looking to purchase a home in a Mine Subsidence District and need finance, please call us on 1300 889 743 or enquire online today.
We can help you apply with the right lender that will approve your mortgage, regardless of the potential risk involved.
) [370] => stdClass Object ( [post_id] => 11856 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
If you have a real estate and a construction project in mind, we can help! Call us on 1300 889 743 or enquire online and our brokers will contact you.
[wbcr_snippet id="73508"] ) [371] => stdClass Object ( [post_id] => 11805 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Home Loan Experts is dedicated to finding our clients the home loan that works best for their needs.
We can pick and choose products from over 50 different banks and lenders, often finding bank employees with better mortgage deals.
Are you looking for a home loan and are employed at a bank or lender?
We can help!
Contact us today, and one of our specialist brokers will help you find the best home loan available from our panel.
Call 1300 889 743 or enquire online.
[wbcr_snippet id="73060"] ) [372] => stdClass Object ( [post_id] => 35730 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>We're mortgage brokers who specialise in helping people without Australian citizenship to apply for a loan in Australia. We regularly help people on working visas, in particular 457 visas, to buy real estate in Australia.
If you'd like to buy a property in Australia and need mortgage approval please complete our free assessment form or call us on 1300 889 743.
[wbcr_snippet id="74966"] ) [373] => stdClass Object ( [post_id] => 59387 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Do not be complacent with your home loan. It’s good practice to annually review your home loan so that you’re getting a good deal in your current situation. You can take the help of mortgage brokers when you’re switching home loans or reviewing your home loans.Please enquire online or call us on 1300 889 743 if you wish to talk with one of our mortgage brokers who specialises in releasing equity.
We can work out which lender on our panel will approve cash out for your situation and then help you to find the right home equity loan for your situation.
[wbcr_snippet id="72051"] ) [375] => stdClass Object ( [post_id] => 24144 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Although borrowing 95% of the property value is fairly common, it’s still seen as a high risk by most banks.
To get your loan approved, it helps if you have an expert mortgage broker who knows how to present your case to the lender.
With a guarantor to secure your mortgage though, you may be able to borrow up to 100% of the property plus more.
What's preventing you from qualifying for a home loan?
Our mortgage brokers are credit experts who can quickly identify the roadblocks in your mortgage application and how to go about presenting a case to a lender that best suits your situation.
Call us on 1300 889 743 today or complete our free assessment form to speak to a broker.
) [376] => stdClass Object ( [post_id] => 78186 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Don't let the opportunity to own your dream home slip away. Let our expert mortgage brokers at Home Loan Experts assist you in transitioning from renting to owning. Call us today at 1300 889 743 or fill out our free online assessment form to take the first step towards owning your own home.
) [377] => stdClass Object ( [post_id] => 36129 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Mortgages for Chinese investors are still available but you have to meet strict criteria and provide the right supporting documents when the banks ask for it.
A mortgage broker can properly assess your situation and collect the documents they need to submit your application.
Call us on 1300 889 743 or complete our free assessment form to discover how you can qualify for a home loan as a Chinese national.
[wbcr_snippet id="74997"] ) [378] => stdClass Object ( [post_id] => 93854 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Spring is the perfect time to tackle home-maintenance tasks that keep your property in top shape. Tapping into your home’s equity provides the financial flexibility to handle necessary repairs and upgrades without impacting your immediate savings.
At Home Loan Experts, we can help unlock your equity so you can use it to make sure your home is in good shape. Call us 1300 889 743 or enquire online for free today.
) [379] => stdClass Object ( [post_id] => 31979 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Whether you're a casual teacher, part-time lecturer or school principal, we're here to assist you every step of the way. We share your passion for making a difference. Our home Loan Experts have seven years of experience, on average, as mortgage brokers. They will help you explore teacher home loan options and guide you towards home ownership.
Call us at 1300 889 743 or fill out our free online assessment form to get started now. Let's make your dream of owning a home a reality together!
) [380] => stdClass Object ( [post_id] => 93006 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>If the mortgage process feels overwhelming, don't worry – you’re in good company. And our Home Loan Experts, with an average of seven years of experience, are eager to help you find the right loan for your needs. We’ll support you at every step, from securing better rates to taking care of the paperwork, making the entire process smoother and stress-free.
Call us at 1300 889 743 or complete our free online assessment today!
) [381] => stdClass Object ( [post_id] => 84088 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Partner with Home Loan Experts to turn your $500K home vision into a reality. We care about your dream as much as you do. Our Home Loan Experts average seven years of experience as a mortgage broker. They will use their expertise to give you clear guidance and negotiate for better rates on your behalf. So ditch the paperwork and focus on finding your dream home. Call 1300 889 743 or get a free online assessment today!
) [382] => stdClass Object ( [post_id] => 2435 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>We have a team of dedicated bad credit mortgage brokers with many years of experience.
Many of our senior brokers have worked in the credit departments of major banks so they know exactly how to build a strong case for bad credit home loans.
Call us on 1300 889 743 or complete our free online assessment form and find out how we can help you get approved for a bad credit mortgage.
) [383] => stdClass Object ( [post_id] => 20658 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Once you've experimented with the property investment calculator, we can help you qualify for an investment loan to buy a new property.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can qualify for a professional discount on your interest rate.
) [384] => stdClass Object ( [post_id] => 94292 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => As mortgage brokers, we can:
Here at Home Loan Experts, our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders.
Please fill in our free assessment form or call us on 1300 889 743 to discuss your situation with a mortgage broker who can quickly find you a lender that will accept your loan while you're on maternity leave or while you're pregnant.
[wbcr_snippet id="74650"] ) [387] => stdClass Object ( [post_id] => 78765 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Experience a stress-free home-buying journey with the assistance of our expert team. From securing pre-approval to managing post-settlement tasks, we'll handle all the necessary paperwork while you relax and savour the excitement of finding your dream home.
Call us on 1300 889 743 or fill in our free online assessment form and we will get back to you shortly.
) [388] => stdClass Object ( [post_id] => 35809 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>It's always good to speak with a conveyancer when calculating the costs of selling a property.
As expert mortgage brokers, we can help make the settlement process smooth and simple by organising a simultaneous settlement.
It's often a much cheaper and simpler option!Please call us on 1300 889 743 or complete our free assessment form if you're planning to sell your property soon.
) [389] => stdClass Object ( [post_id] => 1971 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>If you'd like to get expert advice on 100% offset accounts then please call us on 1300 889 743 or complete our free assessment form to talk with a mortgage broker who specialises in home loans with offset accounts.
) [390] => stdClass Object ( [post_id] => 47146 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Call on 1300 889 743 or fill in our free assessment form and let one of our expert mortgage brokers assess your situation in full.
We can guide you through the right steps to prepare you for rising interest rates, whether it is through refinancing or simply managing your home loan more effectively.
) [391] => stdClass Object ( [post_id] => 45223 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => The refinance checklist will help you ensure you have all the required documents you need to start your refinance application. We can help you run the numbers and see if refinancing makes sense for you. and Call us on 1300 889 743 or fill in our free online assessment form to speak with one of our home loan refinance specialists today! [wbcr_snippet id="74837"] ) [392] => stdClass Object ( [post_id] => 35149 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Non-banks like credit unions and building societies tend to be much more competitive than major banks and lenders when it comes to SMSF loan interest rates and ongoing fees.
Just because they're not a major doesn't mean they can't be trusted!
We have nearly 40 lenders on our panel and we only work with the most reputable lenders in Australia.
Our mortgage brokers also have strong relationships with the business development managers at these lenders meaning that we can negotiate heavily discounted SMSF loan interest rates.
Please call us on 1300 889 743 or complete our free assessment form and one of our SMSF loan specialists can back to you with a free interest rate quote.
) [393] => stdClass Object ( [post_id] => 34949 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Call 1300 889 743 or complete our free assessment form and discover if you qualify for an Outback Jack's franchise loan.
) [394] => stdClass Object ( [post_id] => 34925 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
We're experts in LRBA and SMSF loans!
Discover if you qualify for a loan, so you start borrowing for your SMSF. Call us on 1300 889 743 to speak with one of our specialist mortgage brokers and tell us a little about your situation by completing our easy online enquiry form today.
) [395] => stdClass Object ( [post_id] => 69017 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
We can help you to get a competitive home loan so that you will be able to use it to own an investment property sooner. Our mortgage brokers can also help you if you need advice regarding property management.
Call us on 1300 889 743 or complete the no-obligation form and we’ll connect you to our expert mortgage brokers, who will make sure you get the best deal possible.
) [396] => stdClass Object ( [post_id] => 54016 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => In most cases, it's the same cost to refinance your mortgage and pay the break fees as it is to continue paying a higher rate until the end of the fixed-rate term. For example, if you fixed your loan at 9.00%, you have one year left on your fixed rate, and banks are currently offering rates of 6.00% then paying a break fee may make you reconsider refinancing. However, if you're paying a higher rate for the next year, when you do the maths, it usually means that over the next year you pay the same amount in additional interest as you'd have paid in a break fee! For this reason, it normally makes sense to refinance or sell your property if you need to do so but it doesn't make sense to refinance if you're just trying to save money. Please call us on 1300 889 743 or complete our free assessment form if you'd like to talk to one of our mortgage brokers about refinancing your fixed-rate loan.Example Of Break Cost Calculation
Let's say that John has a fixed rate loan of $300,000 with ABC Bank. He fixed his rate at 6.00% for 5 years but after 3 years, he sells his property and repays his fixed-rate loan in full. If wholesale interest rates had dropped by 1%, how much would John pay in break fees? Break fee = Loan amount x Remaining fixed term x Change in cost of funds Break fee = $300,000 x 2 years x 1% Break fee = $6,000 approximately) [397] => stdClass Object ( [post_id] => 348 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Our mortgage brokers are experts in the banks’ employment policies and in the methods they use to assess your income.
We can select the lender that is best suited to you and then present the right documents to that lender to get approval.
Best of all we usually deal with the major lenders and so you don’t have to pay a higher interest rate!
Speak to us today on 1300 889 743 or complete our free assessment form and let us help you apply for a home loan!
) [398] => stdClass Object ( [post_id] => 52508 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => We can help! But you need to have your home loan pre-approved and ready to go as buying off-market is a much rapid process. Get in touch with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our online enquiry form today to get pre-approved. Disclaimer: The information provided on this page is intended for informational use only and not to be considered any form of financial advice. You should consult a financial planner or an accountant to come up with an informed decision before acting on any piece of information found in this page. ) [399] => stdClass Object ( [post_id] => 57056 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Our mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home.
They can also clarify any questions you may have about the cost of stamp duty in Victoria, transfer fees or First Home Owners Grants.
Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our free online assessment form to find out if you’re ready to buy.
) [400] => stdClass Object ( [post_id] => 78899 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Buy Your Dream Home Sooner
Stay informed and take advantage of the comprehensive support available to first-home buyers in South Australia. You can plan your path to homeownership with these valuable initiatives and secure your dream home sooner – and Home Loan Experts can help! Call us on 1300 889 743 or complete our free assessment form today. stdClass Object ( [post_id] => 5756 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Our mortgage brokers are experts in divorce mortgages and can help you get approved at a great interest rate.Please call us on 1300 889 743 or enquire online to find out how we can help you.If you still have questions, feel free to comment below and we’ll get back to you as soon as possible.
) [402] => stdClass Object ( [post_id] => 34934 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Our mortgage brokers specialise in non-genuine savings no-deposit home loans!
Discover if you qualify for a rent as genuine savings home loan by calling 1300 889 743 or by filling out our online enquiry form today.
[wbcr_snippet id="73235"] ) [403] => stdClass Object ( [post_id] => 35751 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>If you’re married to or in a de facto relationship with a foreign citizen then this will affect the way that some banks see your application.
There are three ways that they could assess your application:
The problem is that if you are assessed as a foreign investor then only a small part of your income will be used and you’ll require a larger deposit.
With some lenders you will also pay a higher interest rate.
You can avoid this by applying with a lender that has a favourable lending policy for someone in your situation.There are some lenders on our panel that accept bonus and commission incomes as well.
Please call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form and we can let you know which banks will accept your situation.
What about my foreign partner's salary?
Most lenders will ignore the income of your partner if they are not an Australian citizen or Australian permanent resident (PR) holder.
However, the policy is in a grey area and we've helped many clients get approved by making exceptions.
A lender may consider your wife or husband's income in the following circumstances:
It’s best to discuss your situation with our expat mortgage brokers by calling 1300 889 743 or by filling in our free assessment form today.
) [404] => stdClass Object ( [post_id] => 59430 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
It is critical that you apply with the right lender! There are only a handful of specialist lenders or banks that deal with non-resident borrowers.
Our experienced mortgage brokers can help assess your application and submit it with a lender that will approve it the first time round.
Please call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or enquire online to speak with one of our mortgage brokers to discuss your refinancing options.
) [405] => stdClass Object ( [post_id] => 98036 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Once you've experimented with the property investment calculator, we can help you qualify for an investment loan to buy a new property.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can qualify for a professional discount on your interest rate.
) [406] => stdClass Object ( [post_id] => 98053 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
Consult Our Experts
Before building a home, take the time to research and compare prices for materials, labour and permits. You should also consider the different ways to save on building costs and make a budget based on the estimated costs. Talk to our mortgage brokers if you want expert guidance as you apply for a construction home loan. Call us on 1300 889 743 or enquire online today!
) [407] => stdClass Object ( [post_id] => 98078 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Taking over your parents’ mortgage, whether through buying the property below market value or helping out with the mortgage repayments, is a big decision.
Going about it the wrong way can prove costly in the long run, with future legal disputes possibly affecting your ability to borrow in the future and putting you under financial strain if you already have a home loan.
Speak to your mortgage broker or your lender first. They may be able to provide a solution.
After that, speak to a financial adviser and a solicitor about other possible solutions.
Call us on 1300 889 743 or complete our free online assessment form and we can put you in touch with a bank representative or a solicitor who can help you.
) [408] => stdClass Object ( [post_id] => 98109 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Our team of specialist mortgage brokers can help you buy a property. Contact us at 1300 889 743 or fill in our online assessment form and we will contact you. [wbcr_snippet id="73290"] ) [409] => stdClass Object ( [post_id] => 98110 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Once you know how you can improve your chances of a home loan approval, you might be wondering when’s the right time to reapply?
The best time to apply depends on the issues the lender mentioned that caused the rejection. For example, if the reason was a high DTI, it would take time for you to pay off your debts to lower the DTI ratio. Once your DTI ratio is lowered, you can apply again.
However, it could just be a case of finding the right lender.
You can increase your chances of approval by taking the help of a mortgage broker. At Home Loan Experts, we have a wide range of lenders on our panel. Our mortgage brokers know that what is a roadblock for one lender may be accepted by another. We understand your financial situation and will recommend lenders that are suited to your needs. Call us on 1300 889 743 or enquire online today to take a step towards getting approved for a home loan.
[wbcr_snippet id="72904"] ) [410] => stdClass Object ( [post_id] => 98136 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Speak with one of our award-winning specialist mortgage brokers today to get the best deal on your mortgage from one of 40 lenders on our panel.
You can do that by giving us a call on 1300 889 743 or by filling in our online assessment form
) [411] => stdClass Object ( [post_id] => 98156 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>We can assess your situation for free and give you an indication of how much you can afford to borrow.
All you have to do is give us a call on 1300 889 743 or complete our free assessment form and tell us a little about your situation.
) [412] => stdClass Object ( [post_id] => 98159 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>It's always good to speak with a conveyancer when calculating the costs of selling a property.
As expert mortgage brokers, we can help make the settlement process smooth and simple by organising a simultaneous settlement.
It's often a much cheaper and simpler option!Please call us on 1300 889 743 or complete our free assessment form if you're planning to sell your property soon.
) [413] => stdClass Object ( [post_id] => 98160 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>Our mortgage brokers are experts in divorce mortgages and can help you get approved at a great interest rate.Please call us on 1300 889 743 or enquire online to find out how we can help you.If you still have questions, feel free to comment below and we’ll get back to you as soon as possible.
) [414] => stdClass Object ( [post_id] => 98166 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] => Whether you need a construction loan or you're looking to release some equity for renovation work, our mortgage brokers understand construction better than most banks! We can be the professional middle man between your builder and your bank to ensure communication is never lost, the loan and drawdown process is smooth and easy, and you're kept up-to-date at all the stages of construction. In that way, you can focus on turning the home of your dreams into a reality. Call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers.[sg_popup id=81314] [wbcr_snippet id="72592"] ) [415] => stdClass Object ( [post_id] => 98174 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>
As mortgage brokers, we can’t advise on the legal and tax implications of finalising a deceased estate.
However, if you were joint owners of a property with the deceased, we can assess your financial situation and let you know if we can refinance your home loan so you can keep your home.
We know lenders that will take a common sense approach to your situation!
Call us on 1300 889 743 or complete our free assessment form today to speak to one of our specialist mortgage brokers.
[wbcr_snippet id="72890"] ) [416] => stdClass Object ( [post_id] => 98187 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>The First Step To Your New Beginning
Home Loan Experts has a commitment to getting the right home loan for your needs and this has helped us earn multiple industry and consumer awards. Our mortgage brokers have helped hundreds of customers navigate the application process and get approved for a home loan without any hassle. Our expertise in specialist lending leads to tough home loans getting approved. Give us a call on 1300 889 743 or enquire online for free to start your new beginning with your dream home. ) [417] => stdClass Object ( [post_id] => 98204 [meta_key] => add_site_layouts_11_post_editor_option [meta_value] =>There are several reasons why your loan may be declined when you apply for formal approval.
How can we help?
Our mortgage brokers have worked in the credit department for major lenders.
Their high level of knowledge and experience means they know which bank will approve your loan.
We know which lenders offer reliable pre-approvals and how to get the other lenders to fully assess your application.
Don’t risk losing your deposit at auction!
Please complete our free online assessment form or call us on 1300 889 743 and one of our mortgage brokers can make sure you get the finance you need to purchase a property.
) [418] => stdClass Object ( [post_id] => 1633 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Is rent to buy and vendor finance available?
Vendor finance, wrap strategies and rent to buy schemes have become increasingly popular in recent years, particularly with investors that follow Steve McKnight or other popular property investment writers. One of the biggest problems that these investors have is that as their portfolio grows, banks begin to say that these investors cannot afford their level of debt, even though in actuality most of the properties are positively geared! This problem stems from the way lenders assess loans. For more information or to apply for a mortgage, please contact us on 1300 889 743 or complete our free assessment form today!) [419] => stdClass Object ( [post_id] => 59304 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Speeding up your loan process when you need to meet a cut-off date can be extremely exhausting. The technicalities involved may be overbearing for people unfamiliar with the mortgage industry.
Our expert mortgage brokers can help you get through your settlement before Christmas. And if you have trouble deciding on your application process, they can help you with it too!
Just call us on 1300 889 743 or fill in our free online assessment form to discuss viable solutions.
) [420] => stdClass Object ( [post_id] => 28204 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => Just like buying a residential property, most people start their research online. Use this page as a guide and do some more research on what to look for in a hobby farm, specifically, what type of hobby farm you’re looking to start and what you want to achieve by buying one. Speak with local real estate agents about the area and about similarly successful small hobby farms nearby. If you can, speak with the locals because they’ll give you really objective answers rather than a sales spin. This way, you can make a much more informed decision on whether property and location are right for you. Attend small farm expos, open days and speak to vets about what’s involved in rearing certain livestock and land management on your hobby farm. Each state has its own farmers’ association which you can check out for resources and guides:) [421] => stdClass Object ( [post_id] => 70134 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => There are some trade-offs when you apply with non-bank lenders. Their interest rates are often higher, they have more postcode restrictions on where you buy a property with their loans, and you may get to borrow only up to 80% of the property value. At Home Loan Experts, we have over 50 lenders on our panel, including non-banks and specialist lenders. Call us on 1300 889 743 or enquire online and we can help you find the right lender. ) [422] => stdClass Object ( [post_id] => 47071 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Do you need a property investment loan?
Maximise your borrowing power today.
We specialise in investment loans and can negotiate a great interest rate for you.
Give us a call on 1300 889 743 or you can fill in our online assessment form.
[sg_popup id=65221] [wbcr_snippet id="72635"] ) [423] => stdClass Object ( [post_id] => 57457 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Is buying an investment property before your first home a good idea?
As you’ve probably guessed by now, it depends on where you want to live, your financial goals and plans. Buying an owner-occupier home is still the most popular way of entering the property market for first home buyers. But there is a definite growing trend of more first home buyers choosing to go the rentvesting route. Consider your own situation when making this decision. Whether you're buying an investment property or an owner-occupied property, speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our online assessment form to find out if you qualify for a first home buyers loan. [sg_popup id=57745] [wbcr_snippet id="75246"] ) [424] => stdClass Object ( [post_id] => 60864 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Home loans for healthcare workers have various offers and concessions available which differ from lender to lender.
As healthcare workers, going through mortgage brokers for your home loans is always an efficient route. We can find you the lender that best suits your profile and needs.
Our specialist mortgage brokers have their expertise in professional loans. They can make your home loan process much smoother and efficient.
You can also call us on 1300 889 743 or fill in our free assessment form to discuss your situation with one of our specialist mortgage brokers.
) [425] => stdClass Object ( [post_id] => 43049 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => Whether you need a construction loan or you're looking to release some equity for renovation work, our mortgage brokers understand construction better than most banks! We can be the professional middle man between your builder and your bank to ensure communication is never lost, the loan and drawdown process is smooth and easy, and you're kept up-to-date at all the stages of construction. In that way, you can focus on turning the home of your dreams into a reality. Call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers. ) [426] => stdClass Object ( [post_id] => 84407 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Our mortgage insurance calculator is updated regularly.
However, there are other factors the LMI calculator cannot consider.
Some lenders have different sets of LMI premiums depending on the nature of your application or they may have premium loadings for particular loan purposes.
For an exact quote, please contact one of our mortgage brokers by calling 1300 889 743.
Our LMI calculator asks for more information than other calculators you may find online.
In this way, it can give a more accurate result by:
If you're ready to apply for a home loan, please call us on 1300 889 743 or enquire online.
A Home Loan Experts mortgage broker will give you a call to discuss the cheapest LMI premiums available for your situation.
) [427] => stdClass Object ( [post_id] => 37484 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>TSS visa mortgages are available if you choose the right lender.
By presenting a strong case, you can even qualify for significantly reduced interest rates and other home discounts.
We have helped thousands of temporary Australian residents on the following visa types:
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers about your situation.
) [428] => stdClass Object ( [post_id] => 84780 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>We are mortgage brokers who specialise in NZ citizen home loans and are passionate about guiding you through the Australian mortgage process with ease.
We know which banks can accept your application and which offer the best interest rates for non-residents.
If you would like to buy a property in Australia, please call us on +61 2 9194 1700, if you’re overseas, or at 1300 889 743 if you’re in Australia.
You can also complete our free assessment form wherever you are in the world, and one of our specialist brokers will get back to you.
) [429] => stdClass Object ( [post_id] => 33785 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Whether you need a construction loan or you're looking to release some equity for renovation work, our mortgage brokers understand construction better than most banks!
We can be the professional middle man between your builder and your bank to ensure communication is never lost, the loan and drawdown process is smooth and easy, and you're kept up-to-date at all the stages of construction.
In that way, you can focus on turning the home of your dreams into a reality.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers.
[sg_popup id=81314] ) [430] => stdClass Object ( [post_id] => 940 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Yes, it’s possible to get approval for a low doc trust loan.
A low doc loan will allow you to declare your income rather than providing tax returns as proof of your income.
There are only a few select lenders that can consider low doc loans for trusts so it’s critical that you talk to us on 1300 889 743 or complete our free assessment form before you apply for a low doc loan using a trust.
) [431] => stdClass Object ( [post_id] => 32214 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
We can help you qualify for an engineering consultancy commercial loan!
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our experienced commercial mortgage brokers today.
[wbcr_snippet id="75940"] ) [432] => stdClass Object ( [post_id] => 189 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Yes, your credit history can affect your loan application. Contrary to popular belief, low doc loans are usually strictly assessed and any adverse credit listings such as defaults or bankruptcy will result in your loan being declined by the major lenders.
Also if you have missed payments on your loan that is being refinanced then you may be declined.
Luckily there are non bank lenders known as non conforming lenders that have a "rate for risk" approach. This allows them to approve low doc loans for people with bad credit in return for a higher interest rate, a risk fee or both.
There are large variations in the way that these loans are assessed. We recommend that you to call us on 1300 889 743 or enquire online to find out which lender is most suitable for you.
) [433] => stdClass Object ( [post_id] => 13404 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Our mortgage brokers have a strong relationship with many of the banks and lenders. We can order a free valuation up front with one of our lenders that is suitable for your situation.
Call us on 1300 889 743 or fill in our free assessment form and we can determine the right bank for you.
) [434] => stdClass Object ( [post_id] => 60586 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => Want us to elaborate further on the home loan FAQs answered above? Want to reach out to our customer relationship team for post-settlement assistance of any sort? Please give us a call on 1300 889 743 or fill in our online assessment form today to discuss your needs. ) [435] => stdClass Object ( [post_id] => 34783 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Our mortgage brokers are credit specialists with particular expertise in unusual property types like rural properties.
These types of properties sometimes fall outside normal lending policy and some lenders are more flexible when it comes to approved rural home loans.
We have nearly 40 different lenders to choose from so we will package your application with the right one so you have the best chance of getting approved and start living the life you want.
Please call us on 1300 889 743 or enquire online for a free, no obligation assessment of your situation.
[wbcr_snippet id="73316"] ) [436] => stdClass Object ( [post_id] => 35674 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>We can let you know if you qualify for a place of worship loan!
Give us a call on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers about your situation.
[wbcr_snippet id="75588"] ) [437] => stdClass Object ( [post_id] => 10048 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Are you a newly arrived temporary resident, or permanent resident looking to buy a home? Our mortgage brokers are specialists in home loans for skilled migrants in Australia. Contact us on 1300 889 743 (When outside Australia call +61 2 9194 1700), or enquire online.
) [438] => stdClass Object ( [post_id] => 946 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Asset protection in a unit trust is weak as the units can be acquired and sold to pay creditors, in the event of bankruptcy.
It's also more complex to make tax-free distributions.
This makes a discretionary trust a more appealing option as it is much more flexible and distributions can be made on a discretionary basis.
Despite the disadvantages, a unit trust is a great vehicle for investment!
If you would like to borrow for your trust, please enquire online or call us on 1300 889 743 to speak to an expert mortgage broker who can help you get approved.
) [439] => stdClass Object ( [post_id] => 54185 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Since everyone’s situation is different, your best bet is to work with award-winning mortgage brokers well adapted to working remotely and quickly, especially in this environment.
Speak with one of our specialist mortgage brokers today, and you’ll be one step closer to getting approved.
Call us on 1300 889 743 or fill in our short assessment form to get started.
) [440] => stdClass Object ( [post_id] => 33677 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>You'll pay a bit upfront but the amount of money you save by getting the right advice can more than cover your cost.
Like your mortgage broker, find an accountant that’s experienced in dealing with property investors.
Also, ensure that you get a depreciation schedule prepared by a professional. You’d be amazed by the amount you can claim, even if you think your property is too old.
Don’t skimp. Often times, good property investment advice provides more long-term benefit than going it alone.
The reality is, it can be difficult to manage cash flow when negative gearing and you may often feel like all of your income is going to the banks and into the property.
However, by planning ahead and adopting some of these strategies, you’ll have a better chance of onto your negatively geared property over the long term.
Do you need an investment loan to kick-start your property portfolio?
Speak with one of our expert mortgage brokers by calling 1300 889 743 or by completing our free assessment form today.
[wbcr_snippet id="72287"] ) [441] => stdClass Object ( [post_id] => 32111 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Check out the list of franchise loans we have on offer through our lenders listed on the left-hand side of this page.
After that, give us a call on 1300 889 743 or fill in our free assessment form to speak with one of our specialist mortgage brokers today.
) [442] => stdClass Object ( [post_id] => 64087 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>In brief, to inspect the property for best purchasing decisions:
If you want to talk to a real estate agent for help with property inspection, call us on 1300 889 743 or fill in the free online enquiry form on our website. Our upcoming Home Buyers Institute's course will help you understand more about home buying. Look out for the launch on our website!
[sg_popup id=65221] ) [443] => stdClass Object ( [post_id] => 67329 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>If you are looking to get a home loan to invest in house flipping, feel free to call us at 1300 889 743 or fill in the free enquiry form for expert advice on the best loans and lenders available for you.
) [444] => stdClass Object ( [post_id] => 31857 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>We're Red Rooster franchise loan specialists who can help you put together a strong application with a lender that will look favourably at your financial situation and business plans.
Call us today on 1300 889 743 or fill in our free assessment form to discover whether you qualify for a Red Rooster franchise loan!
) [445] => stdClass Object ( [post_id] => 67910 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => A buyer can get a pre-approval to avoid getting rejected by the lender. A pre-approval gives the buyer some security about funding before entering negotiations with the seller and also helps the buyer gauge their budget. Securing a pre-approval signals to the seller a strong desire to secure the property.Our team of specialist mortgage brokers can help guide you through setting up a cooling off period or a financial clause. We can also help you secure a pre-approval. Contact us at 1300 889 743 or fill in our online assessment form and we will contact you. [wbcr_snippet id="72961"] ) [446] => stdClass Object ( [post_id] => 64730 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => At Home Loan Experts, we’re not just mortgage brokers. We are credit experts who can:
The regulators have affected almost every stage of the application and approval process. This has drastically slowed up the process for the banks. Where mortgage brokers really shine is the ability to speak with the key decision makers to speed things up whenever things are slowing down. We also know exactly what the banks are looking for in an application so we always ask for all of your documents upfront to avoid delays. Where appropriate, we can help you to apply with a non-bank lender that is not affected by APRA's restrictions. Please call us on 1300 889 743 for a free, no obligation assessment or, alternatively, fill in our easy online enquiry form.
) [448] => stdClass Object ( [post_id] => 9192 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Are you an Australian expatriate, temporary resident or foreign citizen looking to purchase property in Australia? We here at Home Loan Experts specialise in non-resident mortgages. We work with over 40 different banks and lenders and can therefore find the most competitive deals and interest rates.
Are you overseas? You can contact us on +61 2 9194 1700 to talk so us, or enquire online and an expert broker will contact you.
If you are in Australia you can call us on 1300 889 743.
) [449] => stdClass Object ( [post_id] => 43779 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>If you’re planning to pursue a house flipping investment strategy, then it’s always best to speak with a mortgage broker about your plans so we can help you develop a proper mortgage strategy.
A well-structured mortgage strategy will allow you to pursue your positive gearing strategy well into the future.
A mortgage broker will help you get a negotiated interest rate discount that's far below what most lenders will offer you.
Call us on 1300 889 743 or fill in our free assessment form to find out how we can help you with flipping houses.
[wbcr_snippet id="73404"] ) [450] => stdClass Object ( [post_id] => 51431 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Our award-winning mortgage brokers are credit experts.
They can help you find a home loan for you, even if you have a low credit score.
Get in touch with us by filling in our free assessment form or by calling 1300 889 743 today.
[wbcr_snippet id="75308"] ) [451] => stdClass Object ( [post_id] => 30753 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Are you a barrister, solicitor or other legal practitioner that needs finance to buy their own practice office?
Our mortgage brokers have commercial expertise and know how to get a barristers chambers commercial loan approved.
Call us on 1300 889 743 or complete our free assessment form and we can let you know how we can help you.
[wbcr_snippet id="75851"] ) [452] => stdClass Object ( [post_id] => 69070 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => If you’re having trouble deciding whether a capital-growth or rental-yield strategy is best for you, Home Loan Experts can help. Call us at 1300 889 743 or enquire online to find out which lenders can help with your investment loan. ) [453] => stdClass Object ( [post_id] => 7863 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>This is mainly because of your status as a non-citizen. Most banks are concerned that your visa may expire, your visa conditions may result in your early removal from Australia or you may choose to leave.
If this occurs, you will probably still owe a large debt to the bank and they may encounter difficulty recovering this from you.
For this reason, the FIRB will only allow you to purchase one owner occupied property and you must sell this before you leave Australia.
Bank approval is subject to successful review by the FIRB. However, FIRB approval generally takes no longer than two weeks and most applications are often swiftly approved.
Call us today on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or enquire online and we can help you get a great loan package with attractive discounts.
) [454] => stdClass Object ( [post_id] => 33319 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Our mortgage brokers have many options available and can find the right lender that will assess your investment income.
In addition to this, we can often get past the low level assessors at your bank or present the right information to get your bank to approve your loan even if your bank manager said no!
Please call us on 1300 889 743 or complete our free assessment form and our mortgage brokers will let you know what options you have available.
[sg_popup id=65221] [wbcr_snippet id="74656"] ) [455] => stdClass Object ( [post_id] => 3912 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Most people negotiate to pay a 5% or 10% deposit as a cheque. The funds are then held in the agents trust account or a solicitors trust account until settlement. Again, this varies depending on the state you're in. It's common in QLD & WA for the deposit to be much smaller than 5%.
How can you pay a 5% deposit if you're borrowing 100% of the property value with a guarantor loan? You can get what's known as a deposit bond, which is a guarantee to the vendor that you'll complete the purchase. A deposit bond will usually cost you around 1.2% of the amount of the deposit, as a once off fee.
The vendor will need to agree to accept a deposit bond instead of a cash deposit. If you're going to an auction then request this via your conveyancer, several days before the day of the auction.
Please use our deposit bond calculator to compare deposit bond quotes from several insurers and then contact one of our mortgage brokers to apply. Call 1300 889 743 or complete our free assessment form today!
) [456] => stdClass Object ( [post_id] => 7850 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Our mortgage brokers are here to help our customers for the life of their loan. If you're one of our existing customers, please speak to your mortgage broker.
If you're not yet a customer of the Home Loan Experts and would like to refinance to the most competitive lender, please call us on 1300 889 743 or enquire online and one of our mortgage brokers will call you to discuss how you can get the best interest rate around for your home loan.
We can help you make a decision on fixed or variable.
[sg_popup id=65221] ) [457] => stdClass Object ( [post_id] => 15171 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
There are several partners in a firm (often 5 to 20), which makes it different from a company that is owned and managed by one person.
Standard bank policy requires that you provide the financial statements and tax returns for any business which you have a shareholding in that generates more than 25% of your income. This includes income via a salary, directors fees or dividends.
If you are applying for a commercial loan in the name of the business, then the banks will need to assess the financial situation of the entire business. However, for a home loan it shouldn't be necessary for the bank to review your entire company.
As a partner in an accounting firm we can get this requirement waived.
Please call us on 1300 889 743 or enquire online and one of our specialist mortgage brokers will contact you to discuss your situation.
Why Do Banks Struggle With Partnerships?
A partnership is a relationship not a separate legal entity.
It includes two or more people (rarely more than 20) going into business together to make a profit.
Partners share all the business assets and liabilities so it is vital that each partner knows their rights, responsibilities and obligations.
Banks often struggle with financing a partnership because of the unique legal structure of the entity. While banks can handle a sole trader, company, trust or Australian Securities Exchange listed company, their systems and processes are not set up with partnerships in mind.
How Do I Prove My Income As A Partner?
Typically, banks and other lenders will want to see your personal tax returns and notices of assessment for the last two years. If your salary is sufficient to service your debt then we can accept your two most recent payslips on their own.
However, those who are partners in selected larger accounting firms may be able to provide proof of their income via a letter or email from the firm’s Administration Manager (or equivalent) when applying for a residential home loan.
The letter will be used for income verification purposes instead of standard self-employed income documentation such as tax returns.
) [458] => stdClass Object ( [post_id] => 41836 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
This article is generic and covers all states of Australia.
However your contract of sale may be different to the norm or your state’s legislation may change.
It’s important that you seek advice from your conveyancer, solicitor or settlement agent as they can give you advice on the contract and the relevant legislation for your state.
We’re mortgage brokers and our focus is on getting you a suitable mortgage so check out our list of recommended conveyancers for your states.
If you need help with applying for a home loan, call us on 1300 889 743 or fill in our online enquiry form and find out how we can help.
) [459] => stdClass Object ( [post_id] => 35739 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>You could soon be on your way to making your own drop in a stunning rural landscape.
Call us on 1300 889 743 or complete our free assessment form to find out if you qualify for a vineyard loan.
[wbcr_snippet id="75746"] ) [460] => stdClass Object ( [post_id] => 90891 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Buying your first home in Sydney can be a very quick process as most homes are auctioned off. Usually, you’ll have to renounce your right to a cooling-off period.
So, it’s better to get pre-approved for a home loan prior to attending auctions or entering into a private sale. Our experienced mortgage brokers recommend getting 2 or more pre-approvals because it is quite risky to have just one lender who can assist.
Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in on our online assessment form today.
) [461] => stdClass Object ( [post_id] => 54107 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>If you're expecting property prices to fall, then you can still buy now by offering less, which protects you from future falls.
If you prefer to wait, then get pre approved and ready so you can buy at the right time.
Our mortgage brokers can help you navigate the entire home buying process for you during the COVID-19 pandemic.
Call us at 1300 889 743 or fill in our free assessment form.
) [462] => stdClass Object ( [post_id] => 35641 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Call 1300 889 743 or complete our online enquiry form to find out if you qualify for a private school commercial loan.
) [463] => stdClass Object ( [post_id] => 55800 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Don’t wait for the mortgage deferral period to end before you start going over your options.
Speak with one of our specialist mortgage brokers to go over your options by giving us a call on 1300 889 743 or by filling in our short assessment form.
Disclaimer: This page contains information to educate our customers. It is not advice on managing your home loan deferral. It has been prepared without taking into account your objectives, financial situation or needs. Please seek financial advice before taking any action.
) [464] => stdClass Object ( [post_id] => 30516 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>We’re experts in getting low cost commercial finance for backpacker accommodation and hostels.
Don’t wait to buy your commercial investment!
Call us on 1300 889 743 or complete our free assessment form to find out if we can get you approved for a backpacker accommodation commercial loan.
) [465] => stdClass Object ( [post_id] => 30362 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Not sure if you qualify for an investment loan?
Our mortgage brokers are experts in getting investment loans approved. Many of them are property investors themselves so they know exactly what property investors need to get approved.
Speak with one of our brokers on 1300 889 743 or complete our free online assessment form and find out if you qualify for an investment loan.
) [466] => stdClass Object ( [post_id] => 3889 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>The loan process can feel like a maze. Confusing rules. Endless hurdles. But as Home Loan Experts, we’ve mastered the way through.
Our mortgage brokers know the banks, the policies, and how to make your application stand out. We’re here to help you get pre-approved without any stress.
Call us on 1300 889 743 or complete our free online assessment form today. Because your dream deserves a plan. Let’s get started.
) [467] => stdClass Object ( [post_id] => 43642 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>There can be legitimate benefits to getting a home loan with interest only.
Call us on 1300 889 743 or complete our free assessment form and we can let you know if you qualify.
) [468] => stdClass Object ( [post_id] => 91751 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>When the Cash Rate moves, your variable interest rate usually does, too. Increases often lead to higher repayments. Our team of mortgage experts can analyse your current mortgage, explain the potential impact of Cash Rate changes, and explore options that offer more stability. We also have a handy repayment calculator to estimate your new repayments whenever your lender changes your loan’s interest rate.
Please call us on 1300 889 743 or complete our free online assessment form today!
[wrs-floating-call-btn] ) [469] => stdClass Object ( [post_id] => 7020 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>We are the experts in all unusual property types and help individuals across Australia obtain finance to purchase the property of their dreams.
Whether it’s a conventional 4 bedroom, double brick house in the suburbs, or a house with unusual features, we can help you get approval!
Call us on 1300 889 743 or enquire online and one of our mortgage brokers will get in touch with you to discuss your situation.
[wbcr_snippet id="73662"] ) [470] => stdClass Object ( [post_id] => 382 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Agency employees usually have a high chance of getting their home loan approved if submitted to the right bank.
Temp workers may have to provide additional documents but, provided that their situation is truly stable, they usually have an excellent chance of approval.
Complete our free assessment form or call us on 1300 889 743.
Speak to a mortgage broker who specialises in dealing with lenders that will consider applications from agency or temp workers.
) [471] => stdClass Object ( [post_id] => 13678 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Lenders do not use just one scorecard, they instead use a system which "profiles" customers based on many aspects of their situation.
If you appear to match a profile that the bank believes is a high risk, then your home loan will be declined.
For example, they may use one scorecard for men and another for women. This is because the same data may mean different things for different types of customers.
If a man has had a break in his employment he may be a higher risk than a woman who has had a break in her employment. The woman is likely to have taken time off to have children whereas the man is more likely to have been unemployed.
Do you need help to get your mortgage approved? Call us on 1300 889 743 or enquire online to speak to one of our expert mortgage brokers.
Do banks move the goalposts?
Your credit score is just an arbitrary number, it is up to the lender to decide how much risk they are comfortable with.
If a lender has a low cost of funds and is very aggressive in trying to gain additional market share, then they may set up their scorecard in such a way that the score required to gain an approval is very low.
At other times when funding is tight and the bank is not focusing on residential lending then they may move the cut off point up, declining more of the borderline applications.
Each lender has their own risk appetite which depends on their position in the market and their business model.
They all carefully monitor the delinquency rates of their existing loan book, and should they move outside of the acceptable range, then they will tweak their credit score to compensate.
) [472] => stdClass Object ( [post_id] => 10270 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => There are many factors that can determine whether your loan application is accepted or not. Our mortgage brokers know how the banks calculate your borrowing power and how to get your mortgage approved! There are some lenders that look beyond a simple borrowing capacity formula and ask real questions about your financial situation.
Talk to us on 1300 889 743 or enquire online to obtain a quote from a lender that will be best suit your situation.
) [473] => stdClass Object ( [post_id] => 31860 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
We're not valuers but we can help you qualify for a commercial property loan!
If you're happy with the cap rate of a property you've found and you've undertaken further due diligence, get in touch with us and we can help you qualify for a commercial loan, whether you're buying a freehold or need a business loan as well.
We have strong relationships with the commercial credit departments of a number of major banks as well as specialist lenders.
Because we know the key decision makers, we know how to build a strong case so you have a strong chance to get approved the first time around and even negotiate reduced commercial interest rates.
Call us today on 1300 889 743 or complete our free assessment form and tell us about the commercial property you're looking to buy.
[wbcr_snippet id="75453"] ) [474] => stdClass Object ( [post_id] => 31860 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
We're not valuers but we can help you qualify for a commercial property loan!
If you're happy with the cap rate of a property you've found and you've undertaken further due diligence, get in touch with us and we can help you qualify for a commercial loan, whether you're buying a freehold or need a business loan as well.
We have strong relationships with the commercial credit departments of a number of major banks as well as specialist lenders.
Because we know the key decision makers, we know how to build a strong case so you have a strong chance to get approved the first time around and even negotiate reduced commercial interest rates.
Call us today on 1300 889 743 or complete our free assessment form and tell us about the commercial property you're looking to buy.
[wbcr_snippet id="75453"] ) [475] => stdClass Object ( [post_id] => 69979 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => Many doctors end up building large property portfolios, which can potentially end up earning them more money than their career. Here are some things to keep in mind if you’re looking to build your portfolio:
Before applying for your loan you should read our buyers guide page and the relevant page for your residency type (e.g. Australian citizen living overseas, foreign citizen investing in Australia or temporary visa holder).
Once you have determined that you may be qualified for a home loan then enquire online or contact us via phone on +61 2 9194 1700 from overseas or 1300 889 743 from within Australia between 9am – 5pm Sydney time (GMT +10) and one of our consultants will discuss the various options with you.
[wbcr_snippet id="74991"] ) [477] => stdClass Object ( [post_id] => 19581 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Step 1 - Organise your team of professionals
Conveyancer
You’ll need a conveyancer or a solicitor to take care of the legal work for you.
Their job is to complete searches on the property, manage the transfer of ownership and review the contract before you sign it.
Keep in mind that your appointed conveyancer must be in the same state as the property you’re buying or at least be licensed to operate in that state.
For Western Australia (WA), conveyancers are called settlement agents.
Please view our list of recommended conveyancers if you don’t have one already.
It’s common for a real estate agent to recommend a conveyancer to you but we suggest that you choose one that is likely to be impartial.
Mortgage broker
A good Australian mortgage broker with experience in helping non-residents to apply for a mortgage is an essential member of your team of experts.
Brokers don't need to see the property you are buying so they can be contacted no matter where they work in Australia, and, for most residential mortgages and loans, their services are free.
We’re specialists in non-resident mortgages, hold an Australian Credit Licence (ACL) and are also a member of both the Mortgage and Finance Association of Australia (MFAA) and the Australian Financial Complaints Authority (AFCA).
We can finance properties Australia-wide and we regularly work with international borrowers.
We have a panel of nearly 40 lenders to choose from which ensures that you’re getting the best mortgage for your situation and needs.
If you need finance to purchase property in Australia, call us on 1300 889 743 (+61 2 9194 1700 from outside Australia) or complete our free assessment form to discuss your options.
Learn more about the benefits of using a mortgage broker.
Accountant (if required)
You don’t need to appoint an accountant but there are many benefits in having one and we strongly recommend that you appoint one.
Your accountant can help you structure your financials and save you money on tax because they are experts in Australian tax legislation.
If you’d like to set up Australian companies or trusts to hold your investment, then you’ll need an accountant.
Your appointed accountant can be located anywhere in Australia so it doesn't matter if you live in another city or state.
In particular, you need to be aware of taxes for leaving your property vacant, stamp duty, foreign citizen stamp duty, land tax and capital gains tax.
There may be complexities depending on the country you are living in and if your home country has a joint tax agreement with Australia or not.
Buyers agent (if required)
A buyers agent is also very useful if you’re located overseas and can’t physically inspect the property you’re buying.
The main job of a buyers agent is to source the property and negotiate a great deal on your behalf.
They’ll deal with the real estate agents for you and ensure that the property you’re buying represents a good opportunity.
Your buyers agent must be licensed and have some presence in the state that you’re buying a property in.
Keep in mind that a buyers agent should give independent and objective advice: they shouldn’t be selling his/her own properties.
If they are selling their own properties or are receiving a commission from the developer then they are not a buyers agent acting for you.
They are a real estate agent acting for the seller!
Some buyers agents will charge a fixed fee while others will charge an upfront fee as well as a percentage of the purchase price of the property.
We can put you in touch with some reputable buyers agents if you need assistance.
Step 2 - Get your loan pre-approved
It’s essential for you to get your pre-approval before you begin looking for a property.
Good properties don’t stay on the market long!
The buyer with a pre-approval usually snaps up the best investments while the others are still putting their mortgage applications together.
More importantly, you know that you’re eligible for a loan and how much you can borrow.
Why waste your time looking for a house or unit only to find out that you can't get a loan?
It's for this reason we strongly recommend that you don't buy a property that is due to settle more than 3 months from now.
Your pre-approval will expire and if the lender can't help you later on then you may lose your deposit.
Step 3 - Applying for a mortgage
Applying for a mortgage as a non-resident can be tough because lending criteria can be very complex.
For foreign investors especially, there are less than a handful of lenders who are lending in this space.
You can find specific lending guidelines for your situation here:
To ensure that you get approved, speak to us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form and one of our brokers will get back to you.
We offer free assistance and can help you with your home loan application.
Step 4 - Confirm you qualify with the FIRB
If you’re a non-resident or a temporary visa holder, you’re legally required to get permission from the Foreign Investment Review Board (FIRB) to buy property in Australia.
Australian citizens, Australian permanent residents and New Zealand (NZ) citizens don’t require FIRB approval.
Getting FIRB approval is a simple process and usually takes up to two weeks from the date the application is lodged.
Fees can vary depending on the value of ) [478] => stdClass Object ( [post_id] => 321 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
If you'd like to know which lenders offer the cheapest no deposit building loans, please complete our free assessment form or call us on 1300 889 743 and our specialist brokers will get back to you with the most suitable rates and fees.
[wbcr_snippet id="71933"] ) [479] => stdClass Object ( [post_id] => 31979 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Whether you're a casual teacher, part-time lecturer or school principal, we're here to assist you every step of the way. We share your passion for making a difference. Our home Loan Experts have seven years of experience, on average, as mortgage brokers. They will help you explore teacher home loan options and guide you towards home ownership.
Call us at 1300 889 743 or fill out our free online assessment form to get started now. Let's make your dream of owning a home a reality together!
) [480] => stdClass Object ( [post_id] => 94292 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => As mortgage brokers, we can:With access to an extensive panel of 50-plus lenders, we're well-equipped to negotiate the best possible deal for you.
But that's not all. Our services are absolutely free, allowing you to focus on your dream home without worrying about additional financial burdens.
Why wait? Give us a call at 1300 889 743 (or +61 2 9194 1700 if you're outside Australia) or fill in our free online assessment form to connect with our passionate team.
) [482] => stdClass Object ( [post_id] => 55783 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => As mortgage brokers, we can:
Speak with one of our low doc home loan specialists by calling 1300 889 743 or by completing our free assessment form today!
) [484] => stdClass Object ( [post_id] => 84088 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Partner with Home Loan Experts to turn your $500K home vision into a reality. We care about your dream as much as you do. Our Home Loan Experts average seven years of experience as a mortgage broker. They will use their expertise to give you clear guidance and negotiate for better rates on your behalf. So ditch the paperwork and focus on finding your dream home. Call 1300 889 743 or get a free online assessment today!
) [485] => stdClass Object ( [post_id] => 45223 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => The refinance checklist will help you ensure you have all the required documents you need to start your refinance application. We can help you run the numbers and see if refinancing makes sense for you. and Call us on 1300 889 743 or fill in our free online assessment form to speak with one of our home loan refinance specialists today! ) [486] => stdClass Object ( [post_id] => 34925 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>We're experts in LRBA and SMSF loans!
Discover if you qualify for a loan, so you start borrowing for your SMSF. Call us on 1300 889 743 to speak with one of our specialist mortgage brokers and tell us a little about your situation by completing our easy online enquiry form today.
) [487] => stdClass Object ( [post_id] => 70471 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Our mortgage brokers can help you lodge your application for a place in any scheme. Call us on 1300 889 743 or enquire online today!
) [488] => stdClass Object ( [post_id] => 54016 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => Did you know that some loan types allow you to make unlimited additional repayments with a fixed rate, without penalty? As long as you don't close your loan, you can use a flexible fixed rate to enjoy the extra repayments of a variable interest rate without the uncertainty of interest rate fluctuations. Please call us on 1300 889 743 or complete our free assessment form to talk to one of our mortgage brokers who can offer you practical advice. ) [489] => stdClass Object ( [post_id] => 348 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Our mortgage brokers are experts in the banks’ employment policies and in the methods they use to assess your income.
We can select the lender that is best suited to you and then present the right documents to that lender to get approval.
Best of all we usually deal with the major lenders and so you don’t have to pay a higher interest rate!
Speak to us today on 1300 889 743 or complete our free assessment form and let us help you apply for a home loan!
) [490] => stdClass Object ( [post_id] => 45371 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Joint debts with people not on the loan application are assessed by lenders as if the debts are 100% in your name.
They assume that the person isn't paying their share - it's totally insane!
Luckily, some lenders will assess you at 50% of the debt using what is known as a common debt reducer home loan.
Want to get approved the first time around?
The first step is providing accurate details living expenses.
By working with a mortgage broker, they can give a pretty accurate indication of your chances at approval.
Call us on 1300 889 743 or complete our free assessment form today.
) [491] => stdClass Object ( [post_id] => 52508 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>We can help!
But you need to have your home loan pre-approved and ready to go as buying off-market is a much rapid process.
Get in touch with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our online enquiry form today to get pre-approved.
Disclaimer: The information provided on this page is intended for informational use only and not to be considered any form of financial advice. You should consult a financial planner or an accountant to come up with an informed decision before acting on any piece of information found in this page.
) [492] => stdClass Object ( [post_id] => 67866 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Home Loan Experts’ mortgage brokers assess your equity and help find the best refinancing option for you. They make sure lenders service your maximum home equity while processing your loan.
Call us on 1300 889 743 or enquire online today to learn more about how you can use your equity for refinancing.
[wbcr_snippet id="72039"] ) [493] => stdClass Object ( [post_id] => 2435 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>We have a team of dedicated bad credit mortgage brokers with many years of experience.
Many of our senior brokers have worked in the credit departments of major banks so they know exactly how to build a strong case for bad credit home loans.
Call us on 1300 889 743 or complete our free online assessment form and find out how we can help you get approved for a bad credit mortgage.
) [494] => stdClass Object ( [post_id] => 924 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>We're mortgage brokers who specialise in helping people without Australian citizenship apply for loans in Australia.
If you’d like to buy a property in Australia or want to know more about how we can help, call us on 1300 889 743 or complete our free online assessment form today.
) [495] => stdClass Object ( [post_id] => 20085 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Before doing anything with your credit card, speak to your mortgage broker. We may be able to find a lender that doesn’t require you to change your credit terms at all!
In most cases, credit card holders will need to provide their broker with three months credit card statements as evidence of on time payments. This is helpful when the broker presents your case to the lender.
If no statements are issued by your credit provider, you can simply download and print off the most recent statement and a transaction history from your internet banking account.
Please call us on 1300 889 743 or enquire online today to get the support you need.) [496] => stdClass Object ( [post_id] => 367 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
Unlike other brokers, we’re specialists in lending to casual employees and so can quickly work out which lender is the most suitable for your situation.
Complete our free assessment form or call us on 1300 889 743 to speak to a casual employment loan specialist.
[wbcr_snippet id="74420"] ) [497] => stdClass Object ( [post_id] => 2890 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Our mortgage brokers are credit experts who understand the challenges faced by borrowers who are discharged bankrupt.
Call us on 1300 889 743 or complete our online enquiry form and we can apply with a lender that will consider your situation.
) [498] => stdClass Object ( [post_id] => 84408 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Talk to a Home Loan Experts mortgage broker to find out the true costs of buying a home. Call us on 1300 889 743">1300 889 743 or complete our free assessment form.
) [499] => stdClass Object ( [post_id] => 98034 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>There are several partners in a firm (often 5 to 20), which makes it different from a company that is owned and managed by one person.
Standard bank policy requires that you provide the financial statements and tax returns for any business which you have a shareholding in that generates more than 25% of your income. This includes income via a salary, directors fees or dividends.
If you are applying for a commercial loan in the name of the business, then the banks will need to assess the financial situation of the entire business. However, for a home loan it shouldn't be necessary for the bank to review your entire company.
As a partner in an accounting firm we can get this requirement waived.
Please call us on 1300 889 743 or enquire online and one of our specialist mortgage brokers will contact you to discuss your situation.
Why Do Banks Struggle With Partnerships?
A partnership is a relationship not a separate legal entity.
It includes two or more people (rarely more than 20) going into business together to make a profit.
Partners share all the business assets and liabilities so it is vital that each partner knows their rights, responsibilities and obligations.
Banks often struggle with financing a partnership because of the unique legal structure of the entity. While banks can handle a sole trader, company, trust or Australian Securities Exchange listed company, their systems and processes are not set up with partnerships in mind.
How Do I Prove My Income As A Partner?
Typically, banks and other lenders will want to see your personal tax returns and notices of assessment for the last two years. If your salary is sufficient to service your debt then we can accept your two most recent payslips on their own.
However, those who are partners in selected larger accounting firms may be able to provide proof of their income via a letter or email from the firm’s Administration Manager (or equivalent) when applying for a residential home loan.
The letter will be used for income verification purposes instead of standard self-employed income documentation such as tax returns.
) [500] => stdClass Object ( [post_id] => 98048 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
When the Cash Rate moves, your variable interest rate usually does, too. Increases often lead to higher repayments. Our team of mortgage experts can analyse your current mortgage, explain the potential impact of Cash Rate changes, and explore options that offer more stability. We also have a handy repayment calculator to estimate your new repayments whenever your lender changes your loan’s interest rate.
Please call us on 1300 889 743 or complete our free online assessment form today!
[wrs-floating-call-btn] ) [501] => stdClass Object ( [post_id] => 98139 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Do you need a property investment loan?
Maximise your borrowing power today.
We specialise in investment loans and can negotiate a great interest rate for you.
Give us a call on 1300 889 743 or you can fill in our online assessment form.
[sg_popup id=65221] [wbcr_snippet id="72635"] ) [502] => stdClass Object ( [post_id] => 98151 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
The regulators have affected almost every stage of the application and approval process. This has drastically slowed up the process for the banks. Where mortgage brokers really shine is the ability to speak with the key decision makers to speed things up whenever things are slowing down. We also know exactly what the banks are looking for in an application so we always ask for all of your documents upfront to avoid delays. Where appropriate, we can help you to apply with a non-bank lender that is not affected by APRA's restrictions. Please call us on 1300 889 743 for a free, no obligation assessment or, alternatively, fill in our easy online enquiry form.
) [503] => stdClass Object ( [post_id] => 98166 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Whether you need a construction loan or you're looking to release some equity for renovation work, our mortgage brokers understand construction better than most banks!
We can be the professional middle man between your builder and your bank to ensure communication is never lost, the loan and drawdown process is smooth and easy, and you're kept up-to-date at all the stages of construction.
In that way, you can focus on turning the home of your dreams into a reality.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers.
[sg_popup id=81314] ) [504] => stdClass Object ( [post_id] => 98182 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] => Just like buying a residential property, most people start their research online. Use this page as a guide and do some more research on what to look for in a hobby farm, specifically, what type of hobby farm you’re looking to start and what you want to achieve by buying one. Speak with local real estate agents about the area and about similarly successful small hobby farms nearby. If you can, speak with the locals because they’ll give you really objective answers rather than a sales spin. This way, you can make a much more informed decision on whether property and location are right for you. Attend small farm expos, open days and speak to vets about what’s involved in rearing certain livestock and land management on your hobby farm. Each state has its own farmers’ association which you can check out for resources and guides:) [505] => stdClass Object ( [post_id] => 98204 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>
The loan process can feel like a maze. Confusing rules. Endless hurdles. But as Home Loan Experts, we’ve mastered the way through.
Our mortgage brokers know the banks, the policies, and how to make your application stand out. We’re here to help you get pre-approved without any stress.
Call us on 1300 889 743 or complete our free online assessment form today. Because your dream deserves a plan. Let’s get started.
) [506] => stdClass Object ( [post_id] => 98206 [meta_key] => add_site_layouts_12_post_editor_option [meta_value] =>Most people negotiate to pay a 5% or 10% deposit as a cheque. The funds are then held in the agents trust account or a solicitors trust account until settlement. Again, this varies depending on the state you're in. It's common in QLD & WA for the deposit to be much smaller than 5%.
How can you pay a 5% deposit if you're borrowing 100% of the property value with a guarantor loan? You can get what's known as a deposit bond, which is a guarantee to the vendor that you'll complete the purchase. A deposit bond will usually cost you around 1.2% of the amount of the deposit, as a once off fee.
The vendor will need to agree to accept a deposit bond instead of a cash deposit. If you're going to an auction then request this via your conveyancer, several days before the day of the auction.
Please use our deposit bond calculator to compare deposit bond quotes from several insurers and then contact one of our mortgage brokers to apply. Call 1300 889 743 or complete our free assessment form today!
) [507] => stdClass Object ( [post_id] => 27590 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Before you make an offer on a property, get pre-approved for a business owner home loan!
Lender selection is key as well as having the right business and income evidence needed to present a strong case.
Please call 1300 889 743">1300 889 743 or complete our free assessment form today to speak with one of our mortgage brokers. We’re specialists in home loans for business owners.
[sg_popup id=65221] [wbcr_snippet id="74439"] ) [508] => stdClass Object ( [post_id] => 10270 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] => There are many factors that can determine whether your loan application is accepted or not. Our mortgage brokers know how the banks calculate your borrowing power and how to get your mortgage approved! There are some lenders that look beyond a simple borrowing capacity formula and ask real questions about your financial situation.Talk to us on 1300 889 743 or enquire online for free to obtain a quote from a lender that will be best suited to your situation.
) [509] => stdClass Object ( [post_id] => 918 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>We are mortgage brokers who specialise in NZ citizen home loans and are passionate about guiding you through the Australian mortgage process with ease.
We know which banks can accept your application and which offer the best interest rates for non-residents.
If you would like to buy a property in Australia, please call us on +61 2 9194 1700, if you’re overseas, or at 1300 889 743 if you’re in Australia.
You can also complete our free assessment form wherever you are in the world, and one of our specialist brokers will get back to you.
) [510] => stdClass Object ( [post_id] => 1555 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>If you'd like to know the cheapest LMI premium available for your loan, fill in our free assessment form or contact us on 1300 889 743.
One of our mortgage brokers will assess which lenders and LMI products you qualify for and help you work out the cheapest possible LMI premium.
) [511] => stdClass Object ( [post_id] => 11414 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>The first step towards purchasing a DHA investment property is getting finance.
Find out how we can help you get mortgage approval with a lender that offers great rates and an attractive loan package.
Speak to us on 1300 889 743 or enquire online and one of our mortgage brokers will contact you to discuss your situation.
[wbcr_snippet id="73586"] ) [512] => stdClass Object ( [post_id] => 189 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Most lenders need to see at least one statement for all your debts when assessing a low doc loan.
When refinancing, all lenders need to see at least three and usually six months worth of statements for the mortgage being refinanced and at least one statement for any debts being consolidated.
Some lenders do not need to see any statements for a purchase. For a refinance only loan, lenders will only need to see the statements for your home loan being refinanced.
We can help you find a lender that will keep the paperwork to a minimum, call us on 1300 889 743 or enquire online for the details.
) [513] => stdClass Object ( [post_id] => 37484 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
TSS visa mortgages are available if you choose the right lender.
By presenting a strong case, you can even qualify for significantly reduced interest rates and other home discounts.
We have helped thousands of temporary Australian residents on the following visa types:
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers about your situation.
) [514] => stdClass Object ( [post_id] => 29438 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Funding the development of a brand new office block is not something that we can assist with directly.
However, we do have strong relationships with a number of major lenders and banks and can put you in touch with key decision makers that can properly assess your situation and commercial office plans.
Typically, in developing an entire commercial building, the funding would be sourced from multiple lenders, including those in the private space.
Basically, each funder would take on a share of the loan. With a strong case, it may be possible but this is really only for sophisticated investors.
Get the experts on your side!
Speak with an expert in commercial office loans. We understand commercial finance and can find you a lender that's right for your commercial investment needs.
Call 1300 889 743 or complete our free assessment form today.
[wbcr_snippet id="75855"] ) [515] => stdClass Object ( [post_id] => 64087 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>In brief, to inspect the property for best purchasing decisions:
If you want to talk to a real estate agent for help with property inspection, call us on 1300 889 743 or fill in the free online enquiry form on our website. Our upcoming Home Buyers Institute's course will help you understand more about home buying. Look out for the launch on our website!
[sg_popup id=65221] ) [516] => stdClass Object ( [post_id] => 34946 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form today to speak with a Mad Mex franchise loan specialist.
We can help you finance a range of franchise businesses!
) [517] => stdClass Object ( [post_id] => 34257 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>As your financial and personal situation changes over time, whether it's due to having children, needing to renovate or nearing retirement, you'll need a mortgage that evolves with you.
With a good broker, you should never feel like you're in the dark. From application, pre-approval, approval-in-principle (AIP or condition approval) and settlement, they should be there with you every step of the way and beyond.
If you would like to speak to one of our senior mortgage brokers for a free, no obligation, simply call us on 1300 889 743 or complete our online enquiry form today.
) [518] => stdClass Object ( [post_id] => 35965 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
Please call us on 1300 889 743 or complete our free assessment form to discover if you qualify for a turf farm loan.
[wbcr_snippet id="75878"] ) [519] => stdClass Object ( [post_id] => 76998 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
Purchasing a property in NSW can be an overwhelming experience, but it doesn't have to be! A mortgage broker can be your secret weapon to simplify the process. With a broker on your side, you'll be able to secure a mortgage that fits your budget, lifestyle and goals. Unlike going it alone, mortgage brokers can use their established relationships with lenders to negotiate better terms and rates, saving you money in the long run. So, if you're ready to take the leap and buy property in NSW, Home Loan Experts’ mortgage brokers are here to help. Call us on 1300 889 743 or enquire online today.
) [520] => stdClass Object ( [post_id] => 538 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>The interest rate for your loan is set by the lender, not by us. Due to the large number of lenders and loan products that we offer it is not possible for us to list every interest rate on our website.
Please call us on 1300 889 743 and we can provide you with an interest rate quote for your situation.
) [521] => stdClass Object ( [post_id] => 42068 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
The regulators have affected almost every stage of the application and approval process. This has drastically slowed up the process for the banks. Where mortgage brokers really shine is the ability to speak with the key decision makers to speed things up whenever things are slowing down. We also know exactly what the banks are looking for in an application so we always ask for all of your documents upfront to avoid delays. Where appropriate, we can help you to apply with a non-bank lender that is not affected by APRA's restrictions. Please call us on 1300 889 743 for a free, no obligation assessment or, alternatively, fill in our easy online enquiry form.
) [522] => stdClass Object ( [post_id] => 81627 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Ready to experience the benefits of owning your own home? At Home Loan Experts, we're committed to making your journey to homeownership as seamless as possible. Let us simplify the home loan process for you. As experienced mortgage brokers, we shop lenders for you to find competitive rates and loan options tailored to your financial situation. Whether you're a first-time home buyer or an investor, let us do the legwork and negotiate on your behalf.
Take the first step by filling out our free online assessment form or, calling at 1300 889 743. Your path to owning a home starts here!
) [523] => stdClass Object ( [post_id] => 72846 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Home Loan Experts’ specialist mortgage brokers can help you find the perfect solution when it comes to investment properties. With our extensive experience working with investors and lenders, we can help you narrow down options based on your financial situation. We can also help you get pre-approval for an investment loan so that you don’t miss an opportunity due to a delay in finance. A reliable pre-approval can secure your home loan and the investment property you want. Speak to our award-winning mortgage brokers by calling 1300 889 743 or fill in our free assessment form and we can help you with your investment loan options today!
) [524] => stdClass Object ( [post_id] => 32405 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Discover if you qualify for a Fernwood Fitness franchise loan by calling 1300 889 743 or by completing our free assessment form today.
*Disclaimer: Home Loan Experts has no authorisation, connection or arrangement with Fernwood Fitness. This information has been provided entirely independent of Fernwood Fitness.
) [525] => stdClass Object ( [post_id] => 75785 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
The best time to buy a home is always subjective – it depends on your circumstances. Each city will reach a low point in prices at a different time, so it’s important to watch your local market to know when it’s best to buy. Even though property prices are falling now, buying sooner is better if you can afford to do so. If you keep waiting for the right time to buy, you could:
Are you still sceptical about where the property market is heading in 2023? Home Loan Experts’ mortgage brokers will help you make the right decisions. Call us on 1300 889 743 or enquire online for free today.
) [526] => stdClass Object ( [post_id] => 15171 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>If you are a partner in one of the following firms and borrowing less than 80% of the property value then you may be eligible to provide an employment letter as proof of your income:
To find out what kind of income verification you will need, speak to one of our brokers on 1300 889 743 or enquire online.
) [527] => stdClass Object ( [post_id] => 7051 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
Think you understand the basics of getting a home loan? If you don't, no worries! That's why were here to help. We'll take you through the process from start to finish and deal with your loan application, so you don't have to!
Take the stress out of applying and call us today on 1300 889 743 or enquire online and we will contact you to see which banks you qualify with.
) [528] => stdClass Object ( [post_id] => 32169 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Discover if you qualify for an Australia Post franchise loan!
Call 1300 889 743 or complete our free assessment form to speak with one of our franchise loan specialists!
We can negotiate a great interest rate on your behalf and push to get you the amount your need to make your business dreams a reality.
) [529] => stdClass Object ( [post_id] => 58706 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
It depends on their lending policy. Some of the areas where lender policies can differ are:
Fitting into all the neat little boxes of lender policies is hard, so the key as always is to apply with the right lender.
This is where an experienced mortgage brokers' credit knowledge can help you get approved.
We recommend that first home buyers get their applications pre-assessed by our award-winning mortgage brokers.
You'll only be issued a pre-approval (conditional approval) subject to satisfying all key eligible criteria of both the Scheme and the lender.
To apply and reserve a place in the First Home Loan Deposit Scheme (New Homes), speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our short online assessment form.
) [530] => stdClass Object ( [post_id] => 34845 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
It's always better to be proactive when it comes to mortgage stress but if you've gone beyond that and have missed a mortgage repayment or two, you may be in for a bit of shock.
Certain fees may apply including:
Worst case? Your entire home loan may be withdrawn and you'll be forced to settle the full amount in cash or through the sale of the property. Enforcement costs (those pertaining to legal fees and court documents) will also apply.
When will my bank take action?
In saying that, if and when a bank will take action depends on your current Loan to Value Ratio (LVR).
If you owe more than 80% of your property, banks will generally take action as soon as you miss two repayments. Below 80% and the bank may be willing to accept three or missed payments before taking action.
Not all banks are the same though so find out what your bank's current hardship program is and what lengths they're willing to go to work with struggling customers.
Final golden tips
What not to do when you've missed repayments
Where can you find a financial counsellor?
If you're currently struggling with your mortgage repayments we can point you in the right direction in getting help.
Call us on 1300 889 743 or complete our free assessment form and tell us a little about your current situation.
) [531] => stdClass Object ( [post_id] => 6070 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>We help our customers with their first home owners grant application. Please call us on 1300 889 743 and we will assist you to complete the form, provide the correct supporting documentation as well as following up with the lender to make sure your grant is approved and paid promptly.
If you would like our help then please call us on 1300 889 743.
) [532] => stdClass Object ( [post_id] => 35478 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Call 1300 889 743 or fill in our free assessment form today.
) [533] => stdClass Object ( [post_id] => 25755 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>If you were to go to a lender directly, you'd usually have to dress to impress and be prepared to answer tough questions about your plans to buy a restaurant.
By using one of our specialist lenders you can avoid the hassle altogether because we know how to present a strong case to the right lender.
Call us on 1300 889 743 or complete our free assessment form today.
[wbcr_snippet id="75736"] ) [534] => stdClass Object ( [post_id] => 7630 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
If you wish to apply for a loan, please enquire online or call us on 1300 889 743.
We can help you get the most competitive fixed interest rate for your advance interest loan, saving you thousands of dollars and ensuring you get some great tax deductions.
Speak to our expert team today!
) [535] => stdClass Object ( [post_id] => 75100 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Rental yield and capital growth strategies are important, and it's good to know which is better to achieve your financial goal. Navigating the property market is much easier when you have experienced mortgage brokers by your side. They will assist you in meeting your investment goals.
Feel free to contact us at 1300 889 743 or fill out our free online enquiry form today!
) [536] => stdClass Object ( [post_id] => 49968 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Whether you're tired of paying someone else's mortgage or just want a place of your own, this 100% home loan with no LMI, no deposit and no guarantor is designed to help you buy a property now.
To get started on your home buying journey, give us a call on 1300 889 743 or fill in our online assessment form today.
) [537] => stdClass Object ( [post_id] => 1075 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Our mortgage broker brokers are experts in no deposit home loans and we know which lenders can accept a gifted deposit in lieu of genuine savings.
Please call us on 1300 889 743 or complete our free assessment form to speak to one of our experienced staff.
[sg_popup id=81314] ) [538] => stdClass Object ( [post_id] => 1075 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
Our mortgage broker brokers are experts in no deposit home loans and we know which lenders can accept a gifted deposit in lieu of genuine savings.
Please call us on 1300 889 743 or complete our free assessment form to speak to one of our experienced staff.
[sg_popup id=81314] ) [539] => stdClass Object ( [post_id] => 84407 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
Our mortgage insurance calculator is updated regularly.
However, there are other factors the LMI calculator cannot consider.
Some lenders have different sets of LMI premiums depending on the nature of your application or they may have premium loadings for particular loan purposes.
For an exact quote, please contact one of our mortgage brokers by calling 1300 889 743.
Our LMI calculator asks for more information than other calculators you may find online.
In this way, it can give a more accurate result by:
If you're ready to apply for a home loan, please call us on 1300 889 743 or enquire online.
A Home Loan Experts mortgage broker will give you a call to discuss the cheapest LMI premiums available for your situation.
) [540] => stdClass Object ( [post_id] => 66218 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] => A credit score helps a lender determine the risk level of the borrower. Once you know what does and doesn’t affect your credit score, you can work towards maintaining or improving it. At Home Loan Experts, we are not just mortgage brokers, we are credit experts. We have helped thousands of home buyers with bad credit get approved for a home loan. Call us today on 1300 889 743 or complete our free assessment form. ) [541] => stdClass Object ( [post_id] => 66218 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] => A credit score helps a lender determine the risk level of the borrower. Once you know what does and doesn’t affect your credit score, you can work towards maintaining or improving it. At Home Loan Experts, we are not just mortgage brokers, we are credit experts. We have helped thousands of home buyers with bad credit get approved for a home loan. Call us today on 1300 889 743 or complete our free assessment form. ) [542] => stdClass Object ( [post_id] => 334 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>If you are living overseas or if you have already migrated to Australia, we can help! The process of applying for a loan and buying real estate in another country can be quite confusing.
Our experienced mortgage brokers can help to guide you through the process and can quickly work out which banks can offer you the best interest rate, terms, and conditions.
To find out how we can help you, please enquire online or call us on 1300 889 743 (+61 2 9194 1700 for callers outside Australia).
[wbcr_snippet id="74939"] ) [543] => stdClass Object ( [post_id] => 29638 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>As an Australian living in Hong Kong, find out if you qualify for a home loan!
Our mortgage brokers specialise in helping expats buy property in Australia, and in most cases, our services are completely free.
You can speak with one of our experienced mortgage brokers by calling 1300 889 743 (+61 2 9194 1700 if you're overseas) or complete our free online assessment form and find out how we can help you.
) [544] => stdClass Object ( [post_id] => 58351 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>We’ve helped thousands of first home buyers apply for the FHOG, get approved for a home loan and buy their first home.
Whether you’re buying new or building, talk to one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form to get started on purchasing your first home.
) [545] => stdClass Object ( [post_id] => 70598 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Labour’s Help To Buy Scheme and Liberal’s First Home Guarantee offer different benefits and price caps for home buyers. Whichever scheme goes into effect, our mortgage brokers can help you get approved for a home loan. Call us on 1300 889 743 or complete our free assessment form.
) [546] => stdClass Object ( [post_id] => 7339 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Yes, you will be required to provide a 5% deposit.
In some cases you may be required to provide genuine savings as a deposit. This policy will apply if your partner is on a 457 working visa.
Some banks are more flexible and may allow you to fund the deposit through a gift or government grant.
Speak to our mortgage brokers on 1300 889 743 or enquire online to find out whether you will need a genuinely saved deposit.
If you don’t have a deposit you should consider applying for a guarantor loan. That way you can borrow 100% of the purchase price.
You will also need additional funds to cover stamp duty and any legal or conveyancing costs that may be applicable.
) [547] => stdClass Object ( [post_id] => 94292 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] => As mortgage brokers, we can:Here at Home Loan Experts, our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders.
Please fill in our free assessment form or call us on 1300 889 743 to discuss your situation with a mortgage broker who can quickly find you a lender that will accept your loan while you're on maternity leave or while you're pregnant.
[wbcr_snippet id="74650"] ) [549] => stdClass Object ( [post_id] => 55783 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] => As mortgage brokers, we can:As a first time home buyer, you’re probably making the biggest purchase of your life. That is why you need the help of professionals. Specifically, you need five people on your team: the mortgage broker, the lender, the conveyancer, the buyer’s agent and the building inspector. Home Loan Experts can make sure you have this team at your disposal and help even first home buyers avoid the pitfalls of the home buying journey like a pro. You can get a free assessment by enquiring online or calling Home Loan Experts at 1300 889 743. To make your first home purchase the right home purchase, enrol in our free online Home Buyers Course. Among many things, you’ll learn how to maximise your borrowing power, get the best deal on your home loan and make an offer that vendors will accept. We recommend that you seek independent financial advice before borrowing money to invest.
) [551] => stdClass Object ( [post_id] => 54253 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>If you'd like to review your home loan to find out how you may be able to reduce your mortgage repayments or save on interest by refinancing to a lower rate, talk to one of our specialist mortgage brokers.
Call us on 1300 889 743 or fill in our short assessment form to go over your options.
) [552] => stdClass Object ( [post_id] => 59304 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Speeding up your loan process when you need to meet a cut-off date can be extremely exhausting. The technicalities involved may be overbearing for people unfamiliar with the mortgage industry.
Our expert mortgage brokers can help you get through your settlement before Christmas. And if you have trouble deciding on your application process, they can help you with it too!
Just call us on 1300 889 743 or fill in our free online assessment form to discuss viable solutions.
) [553] => stdClass Object ( [post_id] => 71815 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>New borrowers and current homeowners should take the help of one of our expert mortgage brokers when navigating the rising rate environment. For new potential homebuyers, a mortgage broker will work out your borrowing power and help get your home loan approved. For existing homeowners, our brokers will compare lenders and negotiate to make sure you have the best deal you can get.
We’re here to help. Call us on 1300 889 743 or enquire online.
) [554] => stdClass Object ( [post_id] => 20085 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Before doing anything with your credit card, speak to your mortgage broker. We may be able to find a lender that doesn’t require you to change your credit terms at all!
In most cases, credit card holders will need to provide their broker with three months credit card statements as evidence of on time payments. This is helpful when the broker presents your case to the lender.
If no statements are issued by your credit provider, you can simply download and print off the most recent statement and a transaction history from your internet banking account.
Please call us on 1300 889 743 or enquire online today to get the support you need.) [555] => stdClass Object ( [post_id] => 59430 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
If you’re planning to refinance property in Australia, we can help! Refinancing as a non-resident can be quite tricky and confusing.
Since not many lenders deal in this space, our specialist mortgage brokers can guide you through the process and offer you the best options.
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to discover the best refinance options for you.
) [556] => stdClass Object ( [post_id] => 98034 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>If you are a partner in one of the following firms and borrowing less than 80% of the property value then you may be eligible to provide an employment letter as proof of your income:
To find out what kind of income verification you will need, speak to one of our brokers on 1300 889 743 or enquire online.
) [557] => stdClass Object ( [post_id] => 98058 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>
Ready to experience the benefits of owning your own home? At Home Loan Experts, we're committed to making your journey to homeownership as seamless as possible. Let us simplify the home loan process for you. As experienced mortgage brokers, we shop lenders for you to find competitive rates and loan options tailored to your financial situation. Whether you're a first-time home buyer or an investor, let us do the legwork and negotiate on your behalf.
Take the first step by filling out our free online assessment form or, calling at 1300 889 743. Your path to owning a home starts here!
) [558] => stdClass Object ( [post_id] => 98070 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>Purchasing a property in NSW can be an overwhelming experience, but it doesn't have to be! A mortgage broker can be your secret weapon to simplify the process. With a broker on your side, you'll be able to secure a mortgage that fits your budget, lifestyle and goals. Unlike going it alone, mortgage brokers can use their established relationships with lenders to negotiate better terms and rates, saving you money in the long run. So, if you're ready to take the leap and buy property in NSW, Home Loan Experts’ mortgage brokers are here to help. Call us on 1300 889 743 or enquire online today.
) [559] => stdClass Object ( [post_id] => 98151 [meta_key] => add_site_layouts_13_post_editor_option [meta_value] =>The regulators have affected almost every stage of the application and approval process. This has drastically slowed up the process for the banks. Where mortgage brokers really shine is the ability to speak with the key decision makers to speed things up whenever things are slowing down. We also know exactly what the banks are looking for in an application so we always ask for all of your documents upfront to avoid delays. Where appropriate, we can help you to apply with a non-bank lender that is not affected by APRA's restrictions. Please call us on 1300 889 743 for a free, no obligation assessment or, alternatively, fill in our easy online enquiry form.
) [560] => stdClass Object ( [post_id] => 1633 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Vendor finance, wrap strategies and rent to buy schemes have become increasingly popular in recent years, particularly with investors that follow Steve McKnight or other popular property investment writers.
One of the biggest problems that these investors have is that as their portfolio grows, banks begin to say that these investors cannot afford their level of debt, even though in actuality most of the properties are positively geared!
This problem stems from the way lenders assess loans. For more information or to apply for a mortgage, please contact us on 1300 889 743 or complete our free assessment form today!
) [561] => stdClass Object ( [post_id] => 70134 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>
A combination of the methods above will help you finance multiple investment properties so you can build a property portfolio.
Discuss these options with a mortgage broker today! Call us on 1300 889 743 or complete our free online assessment form.
) [562] => stdClass Object ( [post_id] => 79181 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Working with an experienced mortgage broker, like those at Home Loan Experts, can help you navigate your fixed-rate ending. At Home Loan Experts, our dedicated team will support you throughout the entire process, ensuring that you secure the most favourable interest rates that align with your specific financial circumstances. Call us on 1300 889 743 or enquire online for free today.
) [563] => stdClass Object ( [post_id] => 79881 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Now that you've uncovered the potential for stamp-duty exemptions and concessions, it's time to take the next step towards your dream home. Our team at Home Loan Experts will guide you through the process, offering expert advice and personalised solutions, because we care about making your homeownership dream a reality. Take advantage of the opportunity to save on stamp duty and secure the best financing options. Contact us today at 1300 889 743 or complete our free online assessment form.
) [564] => stdClass Object ( [post_id] => 46847 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Have a handover period when you purchase the funeral parlour from the previous leaseholder.
If you’re purchasing the leasehold from the landlord, ask them for advice.
In most circumstances, they’ll offer help because they too want you to be successful.
You might want to also consider becoming a member of the ADFA, a professional body that represents funeral home professionals and suppliers.
They can provide all of the education and support you’ll need to run your commercial investment.
Similarly, Colliers International are business brokers with exceptional experience when it comes to buying and selling funeral homes.
Need a funeral parlour commercial loan?
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify.
[wbcr_snippet id="75876"] ) [565] => stdClass Object ( [post_id] => 66218 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>A credit score helps a lender determine the risk level of the borrower. Once you know what does and doesn’t affect your credit score, you can work towards maintaining or improving it.
At Home Loan Experts, we are not just mortgage brokers, we are credit experts. We have helped thousands of home buyers with bad credit get approved for a home loan. Call us today on 1300 889 743 or complete our free assessment form.
) [566] => stdClass Object ( [post_id] => 54140 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Our mortgage brokers are up-to-date with the lending criteria of over 40 lenders.
They know how banks will assess your income because of the changes in lending policy due to COVID-19.
Call us today on 1300 889 743 or get a free assessment.
Who receives the JobKeeper payment?
The payment is made to your employer and they then pay you your salary, or reduced salary, as per normal.
You do not receive the JobKeeper payment as an employee.
) [567] => stdClass Object ( [post_id] => 7916 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Ready to make the change from variable to fixed interest rates? Contact us on 1300 889 743 or enquire online and our mortgage brokers will call you to discuss your situation.
Enjoy financial stability and the knowledge that your repayments will always remain the same, regardless of fluctuating market rates.
Speak to an expert today to arrange your new fixed rate interest loan!
) [568] => stdClass Object ( [post_id] => 44403 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Whether you need a lender who will accept your income from renting out your property to short-stay tenants, or home loan to buy an Airbnb investment property, get in touch.
Call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify for a home loan.
[sg_popup id=65221] [wbcr_snippet id="73344"] ) [569] => stdClass Object ( [post_id] => 9464 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Looking to purchase your own Australian property? We specialise in helping temporary residents, foreign citizens, and Australian expatriates. Contact us today on 1300 889 743 (When outside Australia call +61 2 9194 1700), or enquire online.
[wbcr_snippet id="74989"] ) [570] => stdClass Object ( [post_id] => 31486 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] => h3>Your exit strategy
Are you planning on keeping one of the properties?
Once the development is complete, you may decide that you want to hold on to one of the premises as an investment property.
If there is enough profit from selling the other one or two properties, you may be able to buy the property without the need for a home loan.
If there aren't enough funds, your mortgage broker can help you refinance the property to an investment loan so you can pay out the development loan.
Also, check out the 'Building and construction - residential premises' page on the Australian Taxation Office (ATO) website for information regarding tax implications when selling a property in a multi-dwelling development.
For example, you're liable for the Goods and Services Tax (GST) when selling one of your units and dwelling but you calculate the GST owed using the margin scheme and save on this tax cost.
You should seek tax advice from your accountant and financial advice from a financial professional to ensure you're making an investment decision that works best for your financial situation.
Do you need a residential development loan?
Call us on 1300 889 743 or complete our free assessment form and we can let you know if you can get approved for a residential development loan!
[wbcr_snippet id="75457"] ) [571] => stdClass Object ( [post_id] => 49438 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Generally speaking, a home loan redraw facility is an excellent savings tool for borrowers willing to put additional repayments into their home loan.
However, different home loans have their own features, so when choosing a home loan, you should speak with one of our specialist mortgage brokers to get the loan that best suits your needs.
Please give us a call on 1300 889 743 or fill in our online assessment form today to discuss your needs.
[sg_popup id=65221] ) [572] => stdClass Object ( [post_id] => 65560 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>The mortgage relief options available if you're affected by the lockdown in NSW include:
CBA announced an extension of the moratorium on foreclosures for owner-occupiers to 22 February 2022.
If you are going through financial hardship due to the lockdown, immediately contact your lender or mortgage broker.
Also, consider these options if you're affected by the lockdown:
Remember that lockdown restrictions and available relief change regularly. Please consult the relevant websites for up-to-date information.
At Home Loan Experts, we can discuss each option and suggest the right one for your situation. Call us today at 1300 889 743 or fill in our free assessment form.
) [573] => stdClass Object ( [post_id] => 3646 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Maximum LVRs
The "Loan to Value Ratio" (LVR) is one of the major indicators of risk and a primary consideration that banks take into account.
The LVR is the loan amount as a percentage of the property valuation.
The maximum LVRs referred to in this policy are considered to be the preferred LVRs for many lenders.
LVRs may vary by product, loan purpose and security location.
They can also depending on the credit officer's discretion:
It should be noted that the lender may choose to limit the LVR of the loan based on the strength of application and the loan type.
The maximum base LVR is 95%, or up to 97% including capitalised LMI.
Keep in mind that some lenders allow LMI to be capitalised above 97% LVR.
The only exception to this is when you're using a guarantor.
You're entitled to borrow 100% LVR when using your parents property as additional security for the loan.
Maximum loan amounts
Lenders have preferred maximum loan amounts for certain types of borrowers.
Loan amount limits apply on a “per security” basis and vary based on loan product, loan purpose or security location.
It should be noted that the lender can choose to limit the proposed loan amount for loans that pose a higher risk.
Exposure limits
The maximum exposure (total loans to one borrower or group of borrowers) preferred by lenders and mortgage insurers is $2.5 million.
Exposures above this amount may be considered on a case-by-case basis.
It should be noted that lenders and mortgage insurers are often conservative when assessing loans to borrowers with a total exposure over $1 million.
In some cases, we can get around this problem by spreading the loans between lenders to keep their exposure with any one lender or LMI provider below $1 million for as long as possible and ultimately below $2.5 million.
This allows serious property investors to grow their portfolio rapidly.
Investment loans
An investment property loan enables a borrower to purchase or construct residential real estate for investment purposes.
An investment loan may also include borrowings secured by residential property for any investment purpose, such as investing in shares.
The risk associated with investment home loans is different to that of standard home loans.
As a result, additional lending criteria will apply:
Consolidating debt
Borrowers can consolidate their debt by combining their existing unsecured debts into their home loan.
Typically, individuals add their consumer loans such as personal loans, car loans and credit cards into their home loan.
With debt consolidation, the borrower has only one monthly repayment, which in many cases, may improve their servicing and reduce their commitment level.
The risk of these applications is significantly higher than the risk posed by a standard purchase or refinance application with no cash out.
The reason for this is that borrowers with significant unsecured debts are often living outside of their means.
If their spending habits don't change, they risk being in the same situation again in as little as one year after debt consolidation.
As a result of the higher risk, additional approval criteria applies:
Note: This type of application is considered high risk and is not readily accepted by many lenders for loans that are >80% LVR.
Home renovation loans
Lenders can consider loan applications for a borrower wishing to renovate their home, or even knock down and rebuild. These applications are assessed in a similar way to construction loans.
The following additional approval criteria will apply:
Unacceptable loan purposes
Loans for the following loan purposes are not accepted by lenders:
Interest only loans
An interest only loan allows the borrower to pay the interest on the loan for the first few years, before reverting to a standard principal and interest loan, over the remaining loan term.
These applications pose a higher risk as the principal amount is not being reduced during the initial years of the loan, therefore the LVR remains higher than that of a principal and interest loan.
Loans with an interest only period of less than 5 years are generally accepted under standard lending policy.
Loans with an interest only period of more than 5 years are considered on a case by case basis and are limited to 90% LVR.
One of our lenders will consider interest only repayments for up to 15 years.
Lenders prefer interest only periods where the loan is being used for investment purposes.
You may be required to give an explanation where an interest only period is requested for an owner occupied loan.
Expert help with bank policy
Our mortgage brokers are specialists in the lending guidelines used by the major banks.
We know how they will assess your home loan application.
To find out how we can help you, please contact us on 1300 889 743 or complete our free assessment form to get in touch with one of our mortgage brokers.
) [574] => stdClass Object ( [post_id] => 1362 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Talk to an expert mortgage broker
Here at Home Loan Experts, we have mortgage brokers that specialise in 95% home loans.
Please fill in our free assessment form or call us on 1300 889 743 to discuss your situation with an expert to land the right home loan for you.
[wbcr_snippet id="71831"] ) [575] => stdClass Object ( [post_id] => 3912 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>If you have any questions about the process of buying a property then please ask your conveyancer as they are the experts in this area.
If you have any questions regarding how a loan process works or how long it will take to get home loan approval then please call us on 1300 889 743, fill in our free assessment form or post your question on the Disqus section below.
) [576] => stdClass Object ( [post_id] => 15171 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Did you know that we have special packages for high net worth professionals and can negotiate special discounts on your behalf?
Are you a partner in an accounting firm looking at purchasing a residential property?
Speak to a mortgage specialist on 1300 889 743 or enquire online to find out if you are eligible.
[wbcr_snippet id="71851"] [wbcr_html_snippet id="71508"] ) [577] => stdClass Object ( [post_id] => 32470 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>
We're experts in commercial property loans for non-residents!
By presenting a strong business case, you can get the same negotiated interest rates and Loan to Value Ratios (LVRs) as an Australian citizen or permanent resident.
As specialist mortgage brokers, we know exactly what banks want to see in an application.
Please call us on 1300 889 743 or fill in our online enquiry form today.
) [578] => stdClass Object ( [post_id] => 30625 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>You can get approved for a great deal by applying with the right lender. However, finding the right lender for your specific situation may be difficult.
This is where we come in. Rooted in care, we understand the importance of finding the perfect lender customised to your needs. We have relationships with almost 40 different lenders all over Australia. In most cases, we can also help negotiate a great price as well!
You can speak with one of our credit specialists by calling us on 1300 889 743 (+61 2 9194 1700 if you're overseas). You can also fill in our free online assessment form and one of us will contact you instead.
) [579] => stdClass Object ( [post_id] => 53605 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Our mortgage brokers are working from home and are available to help in anyway possible during this pandemic.
Please call us on 1300 889 743 or fill in our free assessment form; or directly email your mortgage broker.
) [580] => stdClass Object ( [post_id] => 49968 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Whether you're tired of paying someone else's mortgage or just want a place of your own, this 100% home loan with no LMI, no deposit and no guarantor is designed to help you buy a property now.
To get started on your home buying journey, give us a call on 1300 889 743 or fill in our online assessment form today.
[wbcr_snippet id="74070"] ) [581] => stdClass Object ( [post_id] => 49968 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Whether you're tired of paying someone else's mortgage or just want a place of your own, this 100% home loan with no LMI, no deposit and no guarantor is designed to help you buy a property now.
To get started on your home buying journey, give us a call on 1300 889 743 or fill in our online assessment form today.
[wbcr_snippet id="74070"] ) [582] => stdClass Object ( [post_id] => 911 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Obtaining your finance is relatively simple if you apply with a lender that commonly works with foreign investors.
You can then send us the required documents so that we can verify your income, confirm your identity and make sure that you’re eligible for a buy to let mortgage. We can then arrange the paperwork for you and seek an approval from the lender we have selected.
For most loan types, our services are free.
You can call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or simply fill in our free assessment form and we can help you apply for a loan with an Australian bank.
) [583] => stdClass Object ( [post_id] => 60942 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>
There is so much to consider when buying your first home, which means there’s a chance you’ll miss an important step in the process.
Most first home buyers lose money because they didn't find the best deals. Some even get declined because they didn't choose the right lender.
Not everyone has the same situation, so understanding the policies provided by different lenders may not be a straightforward process . Applying with lender after lender to find out your best option will just add enquiries to your credit file, which will make it even harder for you to qualify for a loan.
Solution: Contact a mortgage broker. They have built relationships with lenders over the years and can often negotiate a sharper interest rate than if you were to go to a bank directly. They understand a lender's policies and can even get tough loans approved, which banks would typically decline.
You would not need to spend as much time (or endure as much stress) because most of the work would be done by the broker. The cherry on top is that, in most cases, the services provided by a mortgage broker are absolutely free!
Do you want the best deal for your situation without much hassle and have a specialist give you the best options available to you?
Enquire now or call us on 1300 889 743, and one of our specialist mortgage brokers will get back to you right away to help you in your first home buying journey.
) [584] => stdClass Object ( [post_id] => 30618 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Discover if you qualify for a function centre commercial loan by calling 1300 889 743 or by completing our free assessment form to discuss your situation with a mortgage broker today.
) [585] => stdClass Object ( [post_id] => 76571 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>As of June 30, 2024, the NSW Shared Equity Home Buyer Helper is no longer accepting applications. Consider exploring other low-deposit home loan options.
We’re here to help. Call us on 1300 889 743 or enquire online for free today.
) [586] => stdClass Object ( [post_id] => 7339 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>It may be possible for you to purchase property with your partner, even though you are not yet married.
It all depends on their current visa status. If they are on a Prospective Marriage Visa (subclass 300) and are being sponsored by you (an Australian permanent resident or Australian citizen), it may be possible to buy a home together.
However, if you are not yet on a partner visa, then it may be best to buy solely in your own name. Please call our mortgage brokers on 1300 889 743 or enquire online and we will let you know if your fiancé is eligible.
) [587] => stdClass Object ( [post_id] => 33414 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Our mortgage brokers specialise in fixed-rate investment loans. We know the policies of many prime and non-bank lenders all over Australia and can help you select the right lender for your situation.
Call us on 1300 889 743 to speak with one of our credit specialists or enquire online for a quote on several fixed-rate investment loans within 24 hours.
) [588] => stdClass Object ( [post_id] => 37632 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>
The First Home Super Saver Scheme (FHSSS) can be a beneficial program for Australians looking to save for their first home. By making voluntary contributions to their super, individuals can take advantage of the concessional tax treatments and save for a deposit faster.
However, there are both pros and cons to consider. There are restrictions on contribution and withdrawal limits, and it can be a complex process to navigate.
It's essential to carefully weigh the potential benefits against the limitations and seek professional advice to determine if the FHSSS is the right option for your financial situation. The mortgage experts are here to help. Call us on 1300 889 743 or enquire online today.
[wbcr_snippet id="73247"] ) [589] => stdClass Object ( [post_id] => 1357 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] => To get approved with a lender that doesn’t require genuine savings, certain restrictions may apply. As a general rule:) [590] => stdClass Object ( [post_id] => 21031 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>
If you don't want to dip into your savings and require a deposit bond to secure a time sensitive purchase, we can help. We can lodge a deposit bond application for you when you're applying for a home loan. Call us on 1300 889 743 or complete our free no-obligation assessment form.
) [591] => stdClass Object ( [post_id] => 59304 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>Speeding up your loan process when you need to meet a cut-off date can be extremely exhausting. The technicalities involved may be overbearing for people unfamiliar with the mortgage industry.
Our expert mortgage brokers can help you get through your settlement before Christmas. And if you have trouble deciding on your application process, they can help you with it too!
Just call us on 1300 889 743 or fill in our free online assessment form to discuss viable solutions.
) [592] => stdClass Object ( [post_id] => 35751 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>The main problem faced by most Australian expatriates is that they have great trouble meeting the requirements to get their loan approved. Did you know that?:
Call us on 1300 889 743 or fill in our free assessment form today and our experts can come up with the best possible solution for your situation.
) [593] => stdClass Object ( [post_id] => 98034 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>
Did you know that we have special packages for high net worth professionals and can negotiate special discounts on your behalf?
Are you a partner in an accounting firm looking at purchasing a residential property?
Speak to a mortgage specialist on 1300 889 743 or enquire online to find out if you are eligible.
[wbcr_snippet id="71851"] [wbcr_html_snippet id="71508"] ) [594] => stdClass Object ( [post_id] => 98203 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>
Maximum LVRs
The "Loan to Value Ratio" (LVR) is one of the major indicators of risk and a primary consideration that banks take into account.
The LVR is the loan amount as a percentage of the property valuation.
The maximum LVRs referred to in this policy are considered to be the preferred LVRs for many lenders.
LVRs may vary by product, loan purpose and security location.
They can also depending on the credit officer's discretion:
It should be noted that the lender may choose to limit the LVR of the loan based on the strength of application and the loan type.
The maximum base LVR is 95%, or up to 97% including capitalised LMI.
Keep in mind that some lenders allow LMI to be capitalised above 97% LVR.
The only exception to this is when you're using a guarantor.
You're entitled to borrow 100% LVR when using your parents property as additional security for the loan.
Maximum loan amounts
Lenders have preferred maximum loan amounts for certain types of borrowers.
Loan amount limits apply on a “per security” basis and vary based on loan product, loan purpose or security location.
It should be noted that the lender can choose to limit the proposed loan amount for loans that pose a higher risk.
Exposure limits
The maximum exposure (total loans to one borrower or group of borrowers) preferred by lenders and mortgage insurers is $2.5 million.
Exposures above this amount may be considered on a case-by-case basis.
It should be noted that lenders and mortgage insurers are often conservative when assessing loans to borrowers with a total exposure over $1 million.
In some cases, we can get around this problem by spreading the loans between lenders to keep their exposure with any one lender or LMI provider below $1 million for as long as possible and ultimately below $2.5 million.
This allows serious property investors to grow their portfolio rapidly.
Investment loans
An investment property loan enables a borrower to purchase or construct residential real estate for investment purposes.
An investment loan may also include borrowings secured by residential property for any investment purpose, such as investing in shares.
The risk associated with investment home loans is different to that of standard home loans.
As a result, additional lending criteria will apply:
Consolidating debt
Borrowers can consolidate their debt by combining their existing unsecured debts into their home loan.
Typically, individuals add their consumer loans such as personal loans, car loans and credit cards into their home loan.
With debt consolidation, the borrower has only one monthly repayment, which in many cases, may improve their servicing and reduce their commitment level.
The risk of these applications is significantly higher than the risk posed by a standard purchase or refinance application with no cash out.
The reason for this is that borrowers with significant unsecured debts are often living outside of their means.
If their spending habits don't change, they risk being in the same situation again in as little as one year after debt consolidation.
As a result of the higher risk, additional approval criteria applies:
Note: This type of application is considered high risk and is not readily accepted by many lenders for loans that are >80% LVR.
Home renovation loans
Lenders can consider loan applications for a borrower wishing to renovate their home, or even knock down and rebuild. These applications are assessed in a similar way to construction loans.
The following additional approval criteria will apply:
Unacceptable loan purposes
Loans for the following loan purposes are not accepted by lenders:
Interest only loans
An interest only loan allows the borrower to pay the interest on the loan for the first few years, before reverting to a standard principal and interest loan, over the remaining loan term.
These applications pose a higher risk as the principal amount is not being reduced during the initial years of the loan, therefore the LVR remains higher than that of a principal and interest loan.
Loans with an interest only period of less than 5 years are generally accepted under standard lending policy.
Loans with an interest only period of more than 5 years are considered on a case by case basis and are limited to 90% LVR.
One of our lenders will consider interest only repayments for up to 15 years.
Lenders prefer interest only periods where the loan is being used for investment purposes.
You may be required to give an explanation where an interest only period is requested for an owner occupied loan.
Expert help with bank policy
Our mortgage brokers are specialists in the lending guidelines used by the major banks.
We know how they will assess your home loan application.
To find out how we can help you, please contact us on 1300 889 743 or complete our free assessment form to get in touch with one of our mortgage brokers.
) [595] => stdClass Object ( [post_id] => 98206 [meta_key] => add_site_layouts_14_post_editor_option [meta_value] =>If you have any questions about the process of buying a property then please ask your conveyancer as they are the experts in this area.
If you have any questions regarding how a loan process works or how long it will take to get home loan approval then please call us on 1300 889 743, fill in our free assessment form or post your question on the Disqus section below.
) [596] => stdClass Object ( [post_id] => 84776 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Apply for a loan in a trust
Borrowing with a trust is possible!
At Home Loan Experts, we assist you in making sure all aspects of your trust loan are perfect for maximum returns on your investments.
We know how a trust works and which lenders accept which kinds of trusts.
Please fill in our free assessment form or contact us on 1300 889 743 to speak to a mortgage broker who specialises in helping people to borrow money for their trust.
) [597] => stdClass Object ( [post_id] => 940 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>
Borrowing with a trust is possible!
At Home Loan Experts, we assist you in making sure all aspects of your trust loan are perfect for maximum returns on your investments.
We know how a trust works and which lenders accept which kinds of trusts.
Please fill in our free assessment form or contact us on 1300 889 743 to speak to a mortgage broker who specialises in helping people to borrow money for their trust.
) [598] => stdClass Object ( [post_id] => 1555 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>You can avoid the cost of LMI by saving up a 20% deposit in genuine savings.
However, depending on the purchase price of the price, this can be a huge challenge for most people.
The next best thing is to ask your parents or a close relative to act as a guarantor for your mortgage.
In this way you save on the costs of LMI and borrow up to 110% of the property value including the costs of completion.
Call us on 1300 889 743 or complete our free assessment form to find out more about this no deposit option.
) [599] => stdClass Object ( [post_id] => 30519 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>
Child care centre commercial loans are offered by some Australian lenders and they're willing to offer great interest rates and terms just to get your business.
The trick is having a specialist mortgage broker to guide you along the way to find a loan that works for you.
With almost 40 lenders to choose from, Home Loan Experts has strong relationships to give you an excellent chance of getting approved the first time around.
Call us on 1300 889 743 or complete our free assessment form to speak with a mortgage broker today!
) [600] => stdClass Object ( [post_id] => 918 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>We are mortgage brokers who specialise in NZ citizen home loans and are passionate about guiding you through the Australian mortgage process with ease.
We know which banks can accept your application and which offer the best interest rates for non-residents.
If you would like to buy a property in Australia, please call us on +61 2 9194 1700, if you’re overseas, or at 1300 889 743 if you’re in Australia.
You can also complete our free assessment form wherever you are in the world, and one of our specialist brokers will get back to you.
) [601] => stdClass Object ( [post_id] => 946 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>We are specialist mortgage brokers with in depth knowledge of unit trusts.
We know which lenders may approve your loan. We can even help with low doc unit trust loans in some situations!
Our team can perform a comprehensive analysis of the various banks guidelines to determine which banks will accept your loan.
Please contact us on 1300 889 743 or enquire online and one of our brokers will give you a call to discuss your situation.
) [602] => stdClass Object ( [post_id] => 12983 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Talk to one of our specialist mortgage brokers who can help you refinance your tax debt into your mortgage at a lower interest rate.
Call us on 1300 889 743 or fill in our short assessment form. Let us do the work for you!
[wbcr_snippet id="73717"] ) [603] => stdClass Object ( [post_id] => 54140 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Our mortgage brokers are up-to-date with the lending criteria of over 40 lenders.
They know how banks will assess your income because of the changes in lending policy due to COVID-19.
Call us today on 1300 889 743 or get a free assessment.
Who receives the JobKeeper payment?
The payment is made to your employer and they then pay you your salary, or reduced salary, as per normal.
You do not receive the JobKeeper payment as an employee.
) [604] => stdClass Object ( [post_id] => 67360 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>You can use the cycle to analyse where property is now and determine if there’s going to be an upswing or downturn.
For property investors
For home buyers
Each suburb goes through the real-estate cycle on its own timetable, with its own demographics, property types and prices. This is why, when you are considering purchasing within a particular suburb, it’s important to know what stage of the property cycle surrounding suburbs are in as well.
At Home Loan Experts, our mortgage brokers are seasoned investors. We know how to navigate the property cycle to determine the best time to invest and the best time to sell. Call us on 1300 889 743 or complete our free assessment form.
) [605] => stdClass Object ( [post_id] => 52954 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Auctions can intimidate even seasoned property investors, let alone first home buyers. But if you’ve made up your mind about buying your first home at an auction, you would want to secure a reliable pre-approval from one of the major lenders.
Your pre-approval is your lender informally telling you how much money you can afford to borrow based on your situation. Trying to buy a property without a pre-approval, particularly at an auction, can be a major financial misstep that may ruin your future.
That’s where our specialist mortgage brokers come in with their years of experience and strong bargaining power. They know which lenders will best suit your situation and mortgage requirements. To speak with one of our senior mortgage brokers, give us a call on 1300 889 743 or simply fill in our free online assessment form today.
) [606] => stdClass Object ( [post_id] => 428 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Here are some golden tips:
Need an off the plan home loan?
Please call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will help you to choose a suitable lender and loan product.
[wbcr_snippet id="73341"] ) [607] => stdClass Object ( [post_id] => 65560 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Strict stay-at-home orders are in effect in Greater Sydney, which means open homes and in-person auctions cannot be conducted.
You can opt for these property inspection options instead, if you're looking at properties in NSW:
Are you looking for home loan or mortgage relief options during the lockdown? As an online mortgage broker, Home Loan Experts can help you during the lockdown. Call us on 1300 889 743 or complete our free online assessment form
) [608] => stdClass Object ( [post_id] => 20371 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Warning: The rates above are examples only. Rates are subject to a full credit assessment and based on the overall strength of your application. Apart from the rate, there can be significant differences in the fees charged by lenders which can affect the final pricing of your commercial loan.
Please call us to discuss your situation so we can build a strong application and negotiate competitive rates on your behalf.
What is a bank bill loan?
BBSY loans are funded using the bank's cost of funds as a reference rate. This is the Bank Bill Swap rate (BBSW) plus 0.05%. The bank then adds a customer margin for the risk of your loan so they make a profit.
When the 30, 90 or 180-day term comes to an end, your loan is rolled over at the new BBSY interest rate for that term plus your customer margin. In effect, this is a variable rate loan where the interest rate changes every few months.
This type of loan is typically available for loan sizes over $2,000,000 but it is more common for loans over $5,000,000 as it is often lower than a standard business loan.
How is the customer margin calculated?
Your customer margin is calculated based on the overall risk of your application.
This includes your security, ability to pay the loan, equity position and anything else that is a risk to a bank. The higher the risk, the higher your margin. We've assumed you have a low risk loan in the above quoted interest rates.
Each bank may calculate your customer margin in a different way! This is where we can help to negotiate the lowest possible interest rate.
Please call us on 1300 889 743 or enquire online and one of our commercial mortgage brokers will get back to you with some options.
[wbcr_snippet id="75449"] ) [609] => stdClass Object ( [post_id] => 68952 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] => Looking to buy your first home or investment property. Our mortgage brokers can help. Call us on 1300 889 743 or enquire online today.) [610] => stdClass Object ( [post_id] => 27508 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>
Call 1300 889 743 or complete our free assessment form to speak with a one of our specialist commercial mortgage brokers today.
We’re experts at factory loans!
[wbcr_snippet id="75594"] ) [611] => stdClass Object ( [post_id] => 53486 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>
Our award-winning mortgage brokers are here to help you through the home buying process and help you get approved even during the pandemic.
They are safely working from home and are happy to answer your questions. Call us on 1300 889 743 or enquire online.
) [612] => stdClass Object ( [post_id] => 13678 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>As mortgage brokers, we don't like seeing our customers' applications assessed by a computer. However, the unfortunate truth about credit scoring is that it's incredibly accurate at predicting how likely a customer is to default on their home loan.
That is why lenders are hesitant to make an exception and override a decision made by their system.
The great news is that not every lender uses credit scoring!
If you need help to apply with a lender that can accept your situation based on its merits then please call us on 1300 889 743 or enquire online and one of our mortgage brokers will give you a call to discuss your options.
[wbcr_snippet id="75435"] ) [613] => stdClass Object ( [post_id] => 52889 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Get expert help when buying your first home
It’s understandable that as a first home buyer, you’ll get anxious and excited when settlement day draws near.
However, you do not need to worry, as you’ll have a team of experts to help you along the way.
Our award-winning mortgage brokers are here to help you in every step of the way during your first home buying process. Call us on 1300 889 743 or get a free assessment online.
[sg_popup id=57745] [wbcr_snippet id="75005"] ) [614] => stdClass Object ( [post_id] => 382 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>This home loan is for:
If this sounds like your employment situation, please fill in our free assessment form or call us on 1300 889 743 to speak to a specialist mortgage broker.
) [615] => stdClass Object ( [post_id] => 9721 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>
Our mortgage brokers can help you figure out how much you need put towards a home deposit and whether you will satisfy the genuine savings requirement. Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will contact you discuss your situation.
) [616] => stdClass Object ( [post_id] => 57175 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] => Our award-winning mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home. They can also clarify any questions you may have about the cost of stamp duty, transfer fees or first home owners grants. Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our online assessment form to find out if you’re ready to buy. ) [617] => stdClass Object ( [post_id] => 33674 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Please note that this is a complex topic, and it's important that you seek advice from the appropriate professional before making any decisions on your structure.
Is your partner an Australian citizen?
If your partner is an Aussie citizen or a permanent resident visa holder, you may be able to buy the property in their name and have the mortgage in both names.
In some cases, this may also allow you to avoid the requirement to get Foreign Investment Review Board (FIRB) approval.
This arrangement works well if you're living in Australia, but not so well if you're living overseas.
The reason is that lenders generally only accept this structure for high-net-worth borrowers.
Ultimately, if you buy in joint names, you'd only pay foreign citizen stamp duty on the portion that the non-Australian owns.
Our non-resident lending team can let you know if a lender will allow you to buy with this structure. Please call them on 1300 889 743 or +61 2 9194 1700 from outside Australia, or lodge an online enquiry.
Consider buying land and then building
You only pay stamp duty on the value of the land, not on the cost of construction.
This significantly reduces your liability.
Few lenders offer construction loans to foreign citizens living overseas, but building loans are available to foreign citizens living in Australia with a temporary residency visa.
If you need assistance with obtaining a mortgage, you can contact our non-resident lending team at 1300 889 743 or +61 2 9194 1700 from outside Australia, or lodge an online enquiry.
Buy in Northern Territory
As mentioned previously, not all states apply a foreign citizen surcharge on stamp duty and land tax.
To avoid these surcharges, you may consider buying in the ACT before they take effect, or you can buy in the NT where surcharges do not currently apply.
No matter when you decide to purchase property in Australia, you'll still need to get FIRB approval, but this is usually not a major cost or hassle.
If you're considering buying in a state that you're not familiar with, we can put you in touch with a buyers agent.
) [618] => stdClass Object ( [post_id] => 7339 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>
Most lenders will ignore the income of your partner if they are not an Australian citizen or Australian permanent resident (PR) holder.
However, this is a very grey area of policy and we have many clients that we have helped to get approved by making a case.
What is seen favourably?
It's best to call us to discuss your situation and what you can show to help us make a case.
Call 1300 889 743 or complete our free assessment form today.
) [619] => stdClass Object ( [post_id] => 31725 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Our mortgage brokers are non-resident commercial loan specialists with relationships with almost 40 different major banks and lenders.
We know the credit policies to match you with a lender that best suits your commercial investment and business needs.
We also know the key decision makers in the credit departments so we have a much better chance of getting tough loans approved.
Discover if you qualify for a non-resident commercial loan.
Call us on 1300 889 743 (+61 2 9194 1700 if you're calling from outside of Australia) or complete our free assessment form today.
[wbcr_snippet id="75742"] ) [620] => stdClass Object ( [post_id] => 33414 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>
Our mortgage brokers specialise in fixed-rate investment loans. We know the policies of many prime and non-bank lenders all over Australia and can help you select the right lender for your situation.
Call us on 1300 889 743 to speak with one of our credit specialists or enquire online for a quote on several fixed-rate investment loans within 24 hours.
) [621] => stdClass Object ( [post_id] => 1357 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] => To get approved with a lender that doesn’t require genuine savings, certain restrictions may apply. As a general rule:
) [622] => stdClass Object ( [post_id] => 48323 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>
Don't let saving for a 20% deposit delay your dream of home ownership. The First Home Guarantee offers a path forward. Call us at 1300 889 743 to speak to our mortgage experts and see if you can qualify to buy sooner with a smaller deposit. You can also complete our free online assessment form, and we’ll contact you shortly. We truly care about your success and want to use our expertise to help you achieve your dream of owning a home. Let's start your home ownership journey today!
) [623] => stdClass Object ( [post_id] => 54605 [meta_key] => add_site_layouts_15_post_editor_option [meta_value] =>Here’s how we can recommend the best home loan based on your situation.
We’ll first conduct a Preliminary Credit Assessment wherein; we look at your financial situation; and your objectives and product requirements for seeking credit.
Finally, based on our discussions and the lenders you qualify with, we’ll make our recommendations that best match your needs and requirements. Please be aware that it is not always possible to recommend a product that satisfies all of your objectives; the product selected will be the closest match to your requirements.
As a mortgage broker, we act in your best interests when recommending a home loan, whereas a lender has no legal obligation to do so.
Please enquire with us today by calling us on 1300 889 743 or by filling out our short assessment form to speak with one of our specialist mortgage brokers.
) [624] => stdClass Object ( [post_id] => 1075 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>Our mortgage broker brokers are experts in no deposit home loans and we know which lenders can accept a gifted deposit in lieu of genuine savings.
Please call us on 1300 889 743 or complete our free assessment form to speak to one of our experienced staff.
) [625] => stdClass Object ( [post_id] => 37652 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>Do Banks Have Preferred Builders?
Your builder needs to be licenced and registered with your state's relevant Master Builders Association. Other than that, banks don't have preferred builders. However, they have been known to ban dodgy builders in the past. So it's important to do your due diligence and check that they're licensed. Below are developers that banks deal with on a regular basis:How To Choose A Builder For Your House And Land Package
When choosing a builder:Golden Tips
Apply For A House And Land Package Loan
Our mortgage brokers are experienced with house and land package loans. Discover if you qualify for a house and land package or a turnkey loan. Call us on 1300 889 743 or complete our free assessment form today. ) [626] => stdClass Object ( [post_id] => 8122 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] => If you want an outstanding home loan with the best rates on the market, get a fast refi loan today! You can save thousands in interest by switching to a lender offering a more competitive loan package.Call us on 1300 889 743 or enquire online to apply for your fast refinance home loan today!
) [627] => stdClass Object ( [post_id] => 27380 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>Our mortgage brokers are gifted deposit home loan specialists and they understand the lending policy regarding gifted deposits.
You can avoid getting knocked back by the wrong lenders time and time again!
Please call us at 1300 889 743 or fill in our free online assessment form to find out how we can help you qualify for a gifted deposit home loan.
Keep in mind, if a gifted deposit doesn’t work for your situation and needs, there are other no deposit home loan options available.
[sg_popup id=65221] [wbcr_snippet id="73243"] ) [628] => stdClass Object ( [post_id] => 53605 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>Our mortgage brokers are working from home and are available to help in anyway possible during this pandemic.
Please call us on 1300 889 743 or fill in our free assessment form; or directly email your mortgage broker.
) [629] => stdClass Object ( [post_id] => 940 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>Borrowing with a trust is possible!
At Home Loan Experts, we assist you in making sure all aspects of your trust loan are perfect for maximum returns on your investments.
We know how a trust works and which lenders accept which kinds of trusts.
Please fill in our free assessment form or contact us on 1300 889 743 to speak to a mortgage broker who specialises in helping people to borrow money for their trust.
) [630] => stdClass Object ( [post_id] => 35986 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>
Read this information sheet for more details on the scheme.
If you need a home loan or a construction loan, please call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
[wbcr_snippet id="73653"] ) [631] => stdClass Object ( [post_id] => 19347 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>Our mortgage brokers are specialists in financing B&Bs so please call us on 1300 889 743 or complete our free online assessment form today!
We know which lenders will view your new business in a favourable way and which ones will give competitive interest rate discounts!
[sg_popup id=65221] [wbcr_snippet id="73540"] ) [632] => stdClass Object ( [post_id] => 52954 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>
Auctions can intimidate even seasoned property investors, let alone first home buyers. But if you’ve made up your mind about buying your first home at an auction, you would want to secure a reliable pre-approval from one of the major lenders.
Your pre-approval is your lender informally telling you how much money you can afford to borrow based on your situation. Trying to buy a property without a pre-approval, particularly at an auction, can be a major financial misstep that may ruin your future.
That’s where our specialist mortgage brokers come in with their years of experience and strong bargaining power. They know which lenders will best suit your situation and mortgage requirements. To speak with one of our senior mortgage brokers, give us a call on 1300 889 743 or simply fill in our free online assessment form today.
) [633] => stdClass Object ( [post_id] => 23814 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] => Don’t go it alone! With expert advice from a solicitor, a real estate agent and a mortgage broker you can ensure that you’re getting the right advice. If you think you’ve found the right property, please call us on 1300 889 743 or complete our free assessment form. One of our experienced brokers can assess the property (along with the rest of your situation) and let you know if you can get approved for a home loan. Usually it’s just a matter of going with the right bank. We can also recommend a number of qualified conveyancers qualified to operate under the Conveyancing Act, such as Boyd Conveyancing Services . These property law experts can sit down with you and make sure there’s nothing in the Contract of Sale, the land title or anything else about the property that may come back to bite you in the future. Knowledge is power!) [634] => stdClass Object ( [post_id] => 64274 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] => There are many ways you can increase your chances of getting approved for a home loan:
At Home Loan Experts, we have 50+ lenders who can cater to your circumstances. Our mortgage brokers are credit experts who can build a strong application and get you approved for a home loan. Call us on 1300 889 743 or enquire online today.
) [635] => stdClass Object ( [post_id] => 60586 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] => Want us to elaborate further on the home loan FAQs answered above? Want to reach out to our customer relationship team for post-settlement assistance of any sort? Please give us a call on 1300 889 743 or fill in our online assessment form today to discuss your needs. ) [636] => stdClass Object ( [post_id] => 75785 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>The best time to buy a home is always subjective – it depends on your circumstances. Each city will reach a low point in prices at a different time, so it’s important to watch your local market to know when it’s best to buy. Even though property prices are falling now, buying sooner is better if you can afford to do so. If you keep waiting for the right time to buy, you could:
Are you still sceptical about where the property market is heading in 2023? Home Loan Experts’ mortgage brokers will help you make the right decisions. Call us on 1300 889 743 or enquire online for free today.
) [637] => stdClass Object ( [post_id] => 55375 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>We're here to help! Please talk with one of our specialist mortgage brokers, who’ll guide you through the process of refinancing and help you make an informed decision.
Call us on 1300 889 743 or fill in our online assessment form to get started.
[wbcr_snippet id="71984"] ) [638] => stdClass Object ( [post_id] => 48323 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>Don't let saving for a 20% deposit delay your dream of home ownership. The First Home Guarantee offers a path forward. Call us at 1300 889 743 to speak to our mortgage experts and see if you can qualify to buy sooner with a smaller deposit. You can also complete our free online assessment form, and we’ll contact you shortly. We truly care about your success and want to use our expertise to help you achieve your dream of owning a home. Let's start your home ownership journey today!
) [639] => stdClass Object ( [post_id] => 53958 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] => If not, you most likely are overpaying on your mortgage. With mortgage interest rates at historic lows, and with lenders offering refinance cashback as much as $4,000, now may be the perfect time to refinance your mortgage, and save thousands of dollars. To find out how much you can save with a refinance, speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 by filling in our short assessment form. ) [640] => stdClass Object ( [post_id] => 98157 [meta_key] => add_site_layouts_16_post_editor_option [meta_value] =>Do Banks Have Preferred Builders?
Your builder needs to be licenced and registered with your state's relevant Master Builders Association. Other than that, banks don't have preferred builders. However, they have been known to ban dodgy builders in the past. So it's important to do your due diligence and check that they're licensed. Below are developers that banks deal with on a regular basis:How To Choose A Builder For Your House And Land Package
When choosing a builder:Golden Tips
Apply For A House And Land Package Loan
Our mortgage brokers are experienced with house and land package loans. Discover if you qualify for a house and land package or a turnkey loan. Call us on 1300 889 743 or complete our free assessment form today. ) [641] => stdClass Object ( [post_id] => 740 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] =>We are mortgage brokers that specialise in financing the purchase of Australian real estate by foreigners, Australians living abroad or people temporarily residing in Australia.
Please call us on 1300 889 743 or (+61 2 9194 1700 if you are overseas) or fill in our free assessment form and we can contact you via email or phone to discuss your finance options.
[wbcr_snippet id="74924"] ) [642] => stdClass Object ( [post_id] => 77353 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] => The rewards of finding a cashflow positive property are significant, and with the help of a mortgage broker, you'll be one step closer to achieving your property investment dreams. Our Home Loan Experts are here to help you make an informed decision and secure a mortgage that suits your unique financial situation. Feel free to discuss your goals with our mortgage brokers. Call us on 1300 889 743 or fill in our free online assessment form today! ) [643] => stdClass Object ( [post_id] => 940 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] =>Borrowing with a trust is possible!
At Home Loan Experts, we assist you in making sure all aspects of your trust loan are perfect for maximum returns on your investments.
We know how a trust works and which lenders accept which kinds of trusts.
Please fill in our free assessment form or contact us on 1300 889 743 to speak to a mortgage broker who specialises in helping people to borrow money for their trust.
) [644] => stdClass Object ( [post_id] => 382 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] =>Agency employees usually have a high chance of getting their home loan approved if submitted to the right bank.
Temp workers may have to provide additional documents but, provided that their situation is truly stable, they usually have an excellent chance of approval.
Complete our free assessment form or call us on 1300 889 743.
Speak to a mortgage broker who specialises in dealing with lenders that will consider applications from agency or temp workers.
[sg_popup id=65221] [wbcr_snippet id="74652"] ) [645] => stdClass Object ( [post_id] => 35801 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] =>The lending policies around foreign income home loans are complex and change regularly.
It pays to have an experienced mortgage broker on your side!
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify.
[wbcr_snippet id="74946"] ) [646] => stdClass Object ( [post_id] => 75785 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] =>The best time to buy a home is always subjective – it depends on your circumstances. Each city will reach a low point in prices at a different time, so it’s important to watch your local market to know when it’s best to buy. Even though property prices are falling now, buying sooner is better if you can afford to do so. If you keep waiting for the right time to buy, you could:
Are you still sceptical about where the property market is heading in 2023? Home Loan Experts’ mortgage brokers will help you make the right decisions. Call us on 1300 889 743 or enquire online for free today.
) [647] => stdClass Object ( [post_id] => 92963 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] => Refinancing your home is a journey, but you don’t have to walk it alone. Our expert mortgage brokers will be there, side-by-side with you, to make sure you’re making the best choices for your future. When comparing lenders, it’s important to look beyond the interest rate. We’ll help you consider the full picture – the overall cost, the flexibility of the loan terms, and how each option aligns with your goals. At Home Loan Experts, we believe in oneness – working as one team with you to find the solution that’s truly right for your life. Call us on 1300 889 743 or complete our free online assessment form. ) [648] => stdClass Object ( [post_id] => 26591 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] =>With help from an expert that specialises in warehouse loans, you’ll have a much better chance of building a strong case and getting approved the first time around.
Please call 1300 889 743 or complete our free assessment form today and let one of our brokers help you.
) [649] => stdClass Object ( [post_id] => 15401 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] => We're specialists in the lending policies of the major banks and many second-tier lenders. Some of our lenders take a more common-sense approach to your spending, allowing you to maximise your borrowing power and get approved for the loan amount you need. Call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers today. ) [650] => stdClass Object ( [post_id] => 48323 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] =>Don't let saving for a 20% deposit delay your dream of home ownership. The First Home Guarantee offers a path forward. Call us at 1300 889 743 to speak to our mortgage experts and see if you can qualify to buy sooner with a smaller deposit. You can also complete our free online assessment form, and we’ll contact you shortly. We truly care about your success and want to use our expertise to help you achieve your dream of owning a home. Let's start your home ownership journey today!
) [651] => stdClass Object ( [post_id] => 35751 [meta_key] => add_site_layouts_17_post_editor_option [meta_value] =>We’re mortgage brokers who specialise in helping people overseas to buy property in Australia.
Here are a few reasons why you should use our services:
Having an expert mortgage broker in Australia can make all the difference! Please call 1300 889 743 (+61 2 9194 1700 from outside of Australia) or enquire online and our team will contact you to discuss how we can help.
[wbcr_snippet id="71988"] ) [652] => stdClass Object ( [post_id] => 189 [meta_key] => add_site_layouts_18_post_editor_option [meta_value] =>
This will vary between the lenders. With modern professional package low doc loans, fees such as valuation fees and application fees can be waived! With many major lenders the fees will be waived or the fee will be payable when the loan is advanced, not when the loan is applied for.
Other lenders such as non conforming low doc lenders tend to charge the cost of the valuation up front. If the set up cost of the loan is important to you then call us on 1300 889 743 or enquire online to find out which lenders will charge less fees up front.
We also have access to some lenders which allow us to order the valuation before we even apply for a loan. This is great if you are refinancing your property and need the highest valuation possible.
) [653] => stdClass Object ( [post_id] => 7863 [meta_key] => add_site_layouts_18_post_editor_option [meta_value] =>
Whilst a diplomat loan is available to a select few people, we also help all non-residents and temporary visa holders get home loans!
If you are unsure of whether you will qualify for a loan, please speak to us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or enquire online.
We can help you get fast approval and great interest rates. Call us for a diplomat loan today!
[wbcr_snippet id="74995"] ) [654] => stdClass Object ( [post_id] => 14956 [meta_key] => add_site_layouts_18_post_editor_option [meta_value] =>
Do you need help to get approved for a home loan, business loan or investment property loan?
We know which banks and specialist lenders can consider your situation, even if you need to refinance company debts.
We also know how to present your application to get the best possible chance of approval and interest rates.
Please call us on 1300 889 743 or enquire online and one of our specialist mortgage brokers will let you know your options.
[wbcr_snippet id="73737"] ) [655] => stdClass Object ( [post_id] => 52889 [meta_key] => add_site_layouts_18_post_editor_option [meta_value] =>It’s understandable that as a first home buyer, you’ll get anxious and excited when settlement day draws near.
However, you do not need to worry, as you’ll have a team of experts to help you along the way.
Our award-winning mortgage brokers are here to help you in every step of the way during your first home buying process. Call us on 1300 889 743 or get a free assessment online.
[sg_popup id=57745] ) [656] => stdClass Object ( [post_id] => 7339 [meta_key] => add_site_layouts_18_post_editor_option [meta_value] =>Being on a temporary spouse visa is not an issue for most banks, as long as the circumstances of your relationship and its duration, make it likely that you will stay together.
For example: a husband from a foreign country and his wife who is an Australian citizen apply for a home loan. Their relationship has only been going for one month.
The wife is not working, so the banks are relying on her spouse to prove that they can afford the debt. In this situation, it is unlikely that the banks will approve their application for a home loan.
However, if they had been together for a longer period of time or if they had children together then lenders would see this as a stable relationship and normal lending criteria would apply.
If you would like to speak to someone to discuss whether your situation would be accepted by the banks, contact our mortgage brokers on 1300 889 743 or enquire online and we will contact you.
) [657] => stdClass Object ( [post_id] => 189 [meta_key] => add_site_layouts_19_post_editor_option [meta_value] =>Some lenders charge a premium on their interest rate for low doc loans or will not give as large a professional package rate discount. We have lenders on our panel which have the same professional package rate discounts for both full doc and low doc loans!
Which low doc loan has the best interest rate?
Lenders are always issuing special offers and have discounts that are not published on their websites. Call us on 1300 889 743 or enquire online and we can advise you as to which loan is most suitable for your situation.
Believe it or not the lender with the cheapest interest rate is not always the best lender for you. Often a lender will give a rate discount but then charge a higher fee to compensate. So it is important to take a holistic approach when assessing the loan.
Our approach is to present you with several competitive options and allow you to choose which one you would prefer.
) [658] => stdClass Object ( [post_id] => 65317 [meta_key] => add_site_layouts_19_post_editor_option [meta_value] => Secure pre-approval so you can bid with confidence. Our specialist mortgage brokers will show you the best lender for your situation. Just give us a call on 1300 889 743 or fill in our free online assessment form today. ) [659] => stdClass Object ( [post_id] => 25803 [meta_key] => add_site_layouts_19_post_editor_option [meta_value] =>
Are you better off selling your existing property first and renting before committing to a new property? That will depend on what the property market is like in your area.
It will also depend on the size of your mortgage and how much interest you're paying compared to how much you would likely be paying in rent if you're unable to sell your existing home before purchasing a new property.
One of our helpful brokers can help you to estimate the costs of bridging finance versus these alternate options.
What you might like to do is to negotiate with the vendor (via your solicitor) about extending settlement if you haven't sold your property yet.
Not sure what to do?
One of our mortgage brokers can properly assess your situation to let you know which option will provide the most benefit to you.
Call 1300 889 743 or complete our free assessment form today.
) [660] => stdClass Object ( [post_id] => 30471 [meta_key] => add_site_layouts_19_post_editor_option [meta_value] => Where can you find the best investment loan rates when the banks may not even publish them? We specialise in getting tough loans approved and our mortgage brokers are always up to date with the best and most competitive investment loan rates. Speak to us today on 1300 889 743 or fill in our free online assessment form and one of our credit specialists will contact you to discuss your loan needs.
) [661] => stdClass Object ( [post_id] => 33674 [meta_key] => add_site_layouts_19_post_editor_option [meta_value] =>
Are you a foreign citizen, permanent resident, temporary resident or New Zealand citizen in need of a mortgage?
The Australian government has long had a love/hate relationship with foreign investors and rules and regulations for buying real estate change on a regular basis.
This also extends to bank and lender policy, from how much you can borrow to what type of non-residents can actually qualify for a mortgage.
Not all lenders are the same!
We're experts in non-resident mortgages and can navigate this policy minefield so you have the best chance of qualifying for a mortgage in Australia!
Call us on 1300 889 743 (+61 2 9194 1700 if you're outside Australia) or fill in our free assessment form to speak with one of our mortgage brokers.
) [662] => stdClass Object ( [post_id] => 44480 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>) [663] => stdClass Object ( [post_id] => 28205 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Not all banks require you to provide documents like profit and loss statements or an accountant’s declaration. Some of our lenders only require:
) [664] => stdClass Object ( [post_id] => 43900 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Did you know that more than 80% of first home owners grant applications are lodged incorrectly the first time around?
So, based on our experience, we’ve created a FHOG guide to help first home buyers complete an accurate application which will be approved quickly.
If you do not complete the form correctly, delay sending in the form or do not provide the correct supporting documents then the settlement of your new home could be delayed!
Not ready to apply for the grant yet? Try our FHOG calculator to discover how much you qualify for in your state.
Call us on 1300 889 743 or enquire online and we can help you buy your first home.
) [665] => stdClass Object ( [post_id] => 27590 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Generally speaking, most of the credit officers handling your application don’t understand the financial situation of self employed borrowers, particularly if the business is set up in a trust structure. Luckily, not all lenders have the same documentation requirements and won’t require you to provide documents like profit and loss statements or an accountant’s declaration. As long as everything stacks up in the following documents, we know lenders that will consider your application:
What about profit and loss statements?
Generally, most banks won’t ask for this. The only exception is if the tax returns that you’re providing are already a few months into the financial year. For example, If you apply for a home loan in February, your most recent tax return is already well over 6 months old. It’s this reason that the lender will usually ask for more financial evidence, usually in the form of your most recent profit and loss statement. You’ll still need to meet all other standard requirements regarding your income, asset position and credit history but if you have the above documents ready to go, give us a call on 1300 889 743 or complete this free online enquiry form and we’ll let you know if you qualify for a business owner home loan.What if I haven’t lodged my latest tax return?
Most banks will require you to have at least 2 years tax returns before they will even consider your application. If you haven’t lodged your latest tax return but your ABN shows that you’ve been running a business for 2 years, you may still be able to get approved for a business owner home loan. If you have an exceptionally strong situation, you may still qualify even if you’ve only been working for 18 months.Generally, most banks won’t ask for this. The only exception is if the tax returns that you’re providing are already a few months into the financial year.
For example, If you apply for a home loan in February, your most recent tax return is already well over 6 months old. It’s this reason that the lender will usually ask for more financial evidence, usually in the form of your most recent profit and loss statement.
You’ll still need to meet all other standard requirements regarding your income, asset position and credit history but if you have the above documents ready to go, give us a call on 1300 889 743 or complete this free online enquiry form and we’ll let you know if you qualify for a business owner home loan.
What if I haven’t lodged my latest tax return?
Most banks will require you to have at least 2 years tax returns before they will even consider your application.
If you haven’t lodged your latest tax return but your ABN shows that you’ve been running a business for 2 years, you may still be able to get approved for a business owner home loan. If you have an exceptionally strong situation, you may still qualify even if you’ve only been working for 18 months.
What if I’ve only been working for a year or less?
Have you been running your business for less than a year?
Banks are very conservative when it comes to business owners in this situation because you won’t have the financials, specifically tax returns and NOAs, to prove that you’re running a profitable business and earning a sufficient income.
One of our lenders can look at your income from your last job if your projected income for your business is similar to what you previously earned.
The reasoning behind this is that if you decided to close your business you could always return to working for someone else on a similar salary.
For business owners who’ve been trading for one to two years, one of our lenders may look favourably on your application if you’ve been in the same line of work for some time prior to starting your business and you can provide 12 months worth of financial statements.
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Depending on your situation, you may be able to borrow up to:
Each lender has their own maximum loan amount and applicable lending guidelines.
If you’d like our help to apply for a loan in a company name, please fill in our freeassessment form or call us on 1300 889 743 and one of our specialist mortgage brokers will contact you to discuss your options.
) [667] => stdClass Object ( [post_id] => 34282 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => In most cases, mortgage brokers are paid an upfront commission and a trail or ongoing commission for the business they bring to the bank. These commissions are paid out only once your home loan settles. The commissions themselves are based on a percentage of the loan amount and the LVR. Although the details around when and how brokers receive commission varies from lender to lender, generally speaking:
) [668] => stdClass Object ( [post_id] => 12244 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => The best way to start to discuss your eligibility for a home loan is to speak with a mortgage broker, as there are many benefits to using a broker.
) [669] => stdClass Object ( [post_id] => 37843 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => A rent-free declaration is simply a letter stating that you live rent-free with your parents. The letter is fairly basic but as a minimum it should include:
) [670] => stdClass Object ( [post_id] => 37484 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Getting approved while on a TSS visa (subclass 482) will depend on the lender and what stream you’re working under.
As a general rule:
There has been a lot of changes to temporary resident lending policy in recent years.
The 482 visa came into effect in March 2018 and is the next development that new migrants need to understand when migrating to Australia.
If you were currently working under a Temporary Business (long stay) 457 visa or another temporary visa and have since switched to the TSS visa regime, give us a call on 1300 889 743 or complete our free assessment form today.
We'll let you know if you qualify for a mortgage.
) [671] => stdClass Object ( [post_id] => 31113 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Compared to other investments, land doesn't need much of your involvement. It can be a passive long-term investment for you. What's more, you may be able to buy smaller pieces of land with cash alone. Property taxes, insurance or maintenance costs aren't too high. You can take advantage of negative gearing benefits as well. Competition is pretty low so you can get a good deal more easily. People with a limited budget can buy now and build later. This ensures that they won't be priced out of the property market later on. Although its value may increase quite slowly, land prices can hike overnight. Some people buy land thinking the government will rezone it soon. Once rezoned, the land value increases and they can sell it to a developer. You can also choose what you want to do with the land. Depending on the situation, you can sell it to a developer or build yourself. However, investing in raw land can be complicated. Invest only if you know what you're doing.
Do I qualify for an investment loan?
Investment loans tend to be of higher risk. This is why it's usually tough to qualify for one. You must be in a strong financial position. You'll also have to meet basic lending criteria such as:How much can I borrow?
The amount you can borrow depends on a number of things. If you're only buying and not developing vacant land, you may be able to borrow up to:) [673] => stdClass Object ( [post_id] => 49010 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Yes, you can. But it is only used by a few lenders and for low-risk loans.
Contact us on 1300 889 743 or fill in our free online assessment form if you’d like to use a desktop valuation for your home loan.
) [674] => stdClass Object ( [post_id] => 26789 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Not sure if you’re eligible?
Get in touch with one our 95% investor loan specialists on 1300 889 743 or by completing our free assessment form today.
) [675] => stdClass Object ( [post_id] => 13939 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Ultimately, you must meet all standard bank criteria regarding affordability and asset position but your loan will be priced using a commercial risk matrix.
Do you need help financing your property?
Call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers will let you know your options.) [676] => stdClass Object ( [post_id] => 33333 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
So what allows you to get a lower interest rate?
When will you pay a higher interest rate?
Do you need help to get a better interest rate? There are ways you can lower your repayment without refinancing. Give us a call on 1300 889 743 or fill in our free assessment form and our mortgage brokers will do the negotiating for you!
) [677] => stdClass Object ( [post_id] => 35019 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>A parent assist mortgage is a relatively new no deposit home loan solution and it’s only offered through a specialist lender.
You’ll have to meet certain requirements but if you do, you’ll generally be eligible for the following:
Discover if you qualify for a parent assist home loan!
Call 1300 889 743 or fill in our free assessment form to speak with one of our experienced mortgage brokers.
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If you need help with getting a home loan, call 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [679] => stdClass Object ( [post_id] => 84765 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Australian banks can't take a foreign property as security for a home loan.
However, they can help you fund your future investment plans if you have an existing property with enough equity.
Having a good understanding of what you want to do when you have the funds is key.
Which bank can help me?
If you've already researched the property market or spoken with a real estate agent to get an understanding of the location you want to buy, you'll need funds to complete the purchase.
Without your own savings, the next step is to speak to an Australian bank with international branches.
Your mortgage broker may be able to put you in touch with the local branch themselves.
There are also a number of non-Australian owned international banks that may be able to help you with finance.
It's important you get in touch with the local branch of the country you're looking to buy.
Find out what interest rates and mortgage terms they have available for your price range.
How much can I borrow?
One important thing to note is that some countries limit you to borrowing 80% of the property value or Loan to Value Ratio (LVR).
This borrowing limit is typical with a lot of countries, particularly those burned by the global financial crisis (GFC).
Australian banks are one of only a few institutions in the world to offer 105% investment loans by way of a guarantor arrangement with your parents.
With no guarantor, you can still go up to 95% or even 97% of the property value in Australia.
So because of this 80% LVR restriction that international banks have, you would need your own funds for a 20% deposit, plus an extra 3-5% of the property value to complete the purchase of the property.
These extra costs cover costs relating to stamp duty, conveyancing fees and other legal costs required to be paid when buying in that country.
These extra costs vary from country to country: some of them don't charge stamp duty at all!
Call us on 1300 889 743 (+61 2 9194 1700 if you're outside of Australia) or complete our free assessment form to discuss your plans in buying property overseas.
What if I already own a property in Australia?
If you already own a property in Australia and only have 60-70% remaining on the mortgage, you can actually use your equity for buying property overseas.
Your Australian lender won't accept a foreign property as security outright but you can do a cash out with the help of your mortgage broker.
The broker will normally inform the bank that the cash out is for future investment purposes not necessarily for overseas investment.
In saying that, as long as you're not borrowing more than 80% of the property value, you can usually get approved for the cash out.
Let's say you own a property currently valued at $500,000 with $300,000 owing on the home loan.
Your LVR would be around 60%, way below the 80% restriction for accessing equity.
The property you want to buy is in Brazil and it's worth $250,000 - the 20% deposit (plus purchase costs) you need would be about $60,000.
By refinancing with your existing lender, you can cash out that $60,000 so your new home loan is $360,000.
Should I refinance to another lender?
By speaking with an experienced mortgage broker that has a number of different Australian lenders to choose from, they can properly assess your situation and refinance your mortgage to another lender at a lower interest rate.
When buying property overseas, it helps to have a mortgage broker that will support you going forward.
Call us on 1300 889 743 or complete our free assessment form to find out if you're in a position to use equity in your property for buying property overseas.
Why do you want to buy property overseas?
Many Australians choose to buy property overseas because they've become disillusioned with the overpriced real estate market.
With a strong dollar compared to the currency of many foreign nations, there is the potential to take advantage of comparatively lower property prices and higher growth rates in developing nations.
The first thing you should consider is what countries you'd like to invest in: not all property markets are created equal.
Despite its large economy, the United States real estate market has been in the doldrums for a number of years following the GFC.
Meanwhile, some countries that would be considered developing nations or those badly hit by the global financial crisis (GFC) such as Greece, Brazil, Turkey and Italy are running at much higher growth rates.
Of course, there are investment opportunities anywhere if you've done your market research.
Discover more about the risks of overseas property investing in the '6 Traps Of Overseas Property Investing' blog.
Australian residents who are foreigners choose to buy property overseas for investment purposes but they may also have a cultural or family connection.
When they go on holidays or even retire, they may choose to go back and make the property their new home, rent-free.
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If you’re a teacher, we know you may find it difficult to get home loan approval because most banks don’t understand how to assess your income over a year. Luckily, not all lenders have this issue; some will fight for your business. Our Home Loan Experts know which lenders can help, and would be happy to help you find the best one for your situation. We can help you:
When a lender receives a trust application they will carry out a full credit assessment to decide if they should approve the loan.
When assessing the loan they tend to look for:
We know what the banks look for when it comes to trusts!
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our broker today!
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Pepper Money has introduced a new loan product in response to borrowers seeking greater flexibility in managing their home loans amid changing interest rates. This innovative product offers borrowers a two-year fixed term loan that allows them to:
The product is available to new owner-occupier, investor, interest-only, and principal-and-interest loan applicants who qualify. You must apply before 12 May 2023.
Act fast and don't miss out on this time-limited opportunity! Submit your loan application before 12 May 2023, to take advantage of this special offer! Call us on 1300 889 743 or complete our free online assessment form today!
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When a lender receives a trust application they will carry out a full credit assessment to decide if they should approve the loan.
When assessing the loan they tend to look for:
We know what the banks look for when it comes to trusts!
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our broker today!
) [684] => stdClass Object ( [post_id] => 23214 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Give us a call on 1300 889 743 or fill in our free assessment form and discover if you qualify!
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Using the equity in your land for a construction loan, you may be able to borrow up to:
We have mortgage brokers who specialise in construction loans.
Please speak with one of our credit specialists by calling us on 1300 889 743 or complete our free online assessment form and one of us will contact you instead.
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The shorter the name, the better.
It can be tempting to get overly creative when naming your trust but the longer the trust name, the less likely banks and other organisations will be able to process it.
For example, ‘The Steve Anderson Super Happy Family Trust’ will be accepted by the Australian Securities and Investments Commission (ASIC) but bank systems simply won’t accept it.
In order to fit on bank and mortgage statements, you may be forced to truncate or abbreviate the name which may create confusion if you’re audited by the Australian Taxation Office (ATO) come tax time.
The abbreviated version of your trust name won’t match the actual trust registered with ASIC.
Although your accountant knows that your mortgage and property is in the name of the trust, you may have to provide further evidence that this is the case.
We can work with you and your accountant to get your trust loan approved!
Call us on 1300 889 743 or fill in our free online enquiry form to get a free assessment.
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Have you looked at our current refinance rebates and interest rate discounts?
Please call us on 1300 889 743 or fill in our online enquiry form to find out what deal we can negotiate with your next lender.
) [688] => stdClass Object ( [post_id] => 36850 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Like personal loans, car finance, credit cards or dependent children, a HELP loan is treated the same way as any other liability.
The bank runs what is known as a serviceability test to compare your level of income with your current debts and liabilities and determine whether you can afford the loan you want.
If you’re in a strong position, you should have a certain surplus income, which means you can qualify for the amount you’re looking to borrow.
If your debt-to-income level is high, your borrowing capacity could be restricted. Each bank uses its serviceability calculation.
Even though the National Consumer Credit Protection Act prohibits lenders from approving loans that would put borrowers into financial hardship, it doesn’t provide specific guidelines on how the banks should do this.
Because of this, each lender has its level of risk that it’s willing to accept when assessing your mortgage application.
Please call us on 1300 889 743 or complete our free assessment form to discover how we can help you qualify for a mortgage.
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As a general rule if you cannot prove that your income is ongoing then you cannot get a home loan.
Your income can be either from your job or from worker’s compensation payments but you must prove that you will still be able to make the repayments in the foreseeable future.
Call us on 1300 889 743 or complete our free assessment form and discover if you can get approved for a home loan with workers’ compensation.
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Not every lender can help! Investors typically call us after having spoken to several banks, only to find out that DHA properties are not an acceptable security type.
Please enquire online or contact us on 1300 889 743 to speak to one of our mortgage brokers.
) [691] => stdClass Object ( [post_id] => 45470 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Living expenses with children can vary dramatically depending on the nature of your family unit:Interest only loans are traditionally beneficial to property investors looking to maximise their cash flow and give them a buffer to invest elsewhere or when building a home.
Qualifying for an interest only home loan will depend on the lender you choose, the percentage of the property value you borrow and the purpose of your loan:
Do you need an interest only home loan?
We can assess your situation and help find the home loan solution that meets your needs.
Please call us on 1300 889 743 or fill in our free assessment form to speak with one of our mortgage brokers.
) [693] => stdClass Object ( [post_id] => 30482 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
At the time of settlement, there's always a risk that one party may fail to deliver the terms of a contract with another party. This is called settlement risk.
A settlement risk can be associated with home loan default, where you're unable to meet legal obligations of a loan, during settlement or any time difference in settlement between the two parties.
How do homebuyers end up with settlement default?
Capacity to settle
You may come across a situation where you have little option but to default on settlement. For example, if you have excess debt and can't afford to make mortgage repayments.
Some factors that affect this include:
If you're an overseas buyer then you can be adversely affected by major changes in Australian foreign exchange rates.
Willingness to settle
Some property buyers are motivated by certain circumstances to default.
For example, between the period of sales and settlement, the price of the property may fall by more than what you may have deposited. In this situation, you can reduce your losses by defaulting.
Call us on 1300 889 743 or fill in our free online assessment form and speak with one of our expert brokers for more information.
) [694] => stdClass Object ( [post_id] => 33256 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
A popular investment strategy is to buy vacant commercial land to subdivide and develop or to hold on to the land and sell at a higher price in a few years time.
It sounds like a great idea on paper but will the banks go along with your strategy?
It all depends on the location, access to utilities and services, zoning and land size.
How much can I borrow?
You can borrow between 50-70% of the land value but this will vary depending on the lender and the size and nature of the property:
Despite this, if you have a guarantor or enough equity in a residential property that you own, you may be able to borrow up to 100% of the land value and qualify for a longer loan term (25 years) than the standard loan terms offered with commercial finance (10-15 years).
You may also still get the same commercial interest rates as if you were buying a commercial building.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [695] => stdClass Object ( [post_id] => 495 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Call us on 1300 889 743 or complete our free assessment form, and we can let you know how much you can borrow for a renovation loan.
) [696] => stdClass Object ( [post_id] => 35511 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Every application is assessed on its merits!
Auto Masters is one of a number of franchise businesses that a few major banks and lenders have listed as strong franchise models.
However, you still need to build a strong case to get approved and there can be huge differences in the interest rates and loan terms on offer.
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for an Auto Masters franchise loan.
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Very few lenders offer low doc home loan solutions and it has become increasingly difficult to get low doc applications approved.
If you cannot provide full financials, speak with one of our experienced mortgage brokers so we can present a strong case on your behalf.
Call us on 1300 889 743 or complete our online assessment form to discover if you qualify.
) [698] => stdClass Object ( [post_id] => 3378 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Generally, the lender is looking to see if your penalty pay is regular and ongoing.
If the pay is irregular then most major banks & lenders will be less inclined to include it when assessing your home loan application.
You can use our YTD Income Calculator to find out how the banks would assess your income.
To discuss your situation and income with our expert mortgage brokers, please call us on
1300 889 743 or enquire online today.
We can help pair you with the right lender who will offer competitive rates and a great loan package!
) [699] => stdClass Object ( [post_id] => 36057 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Most banks actually require your deposit to be genuine savings but not all lenders are the same.
You may be able to use the following no genuine savings options to qualify for a home loan:
Getting approved for a borrowed deposit home loan can be difficult and you'll need to have a formal agreement in place with your parents or immediate family.
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers to find out whether this no genuine savings solution is right for you.
) [700] => stdClass Object ( [post_id] => 32606 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => According to the Customer Owned Banking Association (COBA), customer-owned banking is the "fifth pillar" in banking after the 'big four' (Commonwealth Bank, ANZ, Westpac and National Australia Bank), providing much-needed competition to the banking sector. The main benefit is that they operate for the benefit of its customers rather than purely for profit. Profits actually go back into providing better products and services as well as into the local community and environment. But with around $92 billion in assets, are they really operating in your best interests?
Comparing them to standard banks
The main difference between mutual banks and the major banks and lenders is that customer-owned banks aren't listed on the Australian Securities Exchange (ASX). Instead being owned and controlled by shareholders and investors, customer-owned banking essentially means that customers own a share in the bank. Each member share amounts to one vote on the bank's governance including the selection of board members and other major company changes like closing and opening branches. COBA would like to argue that for this reason, customer-owned banks aren't profit-driven. Instead, all profits are invested back into improving their products, providing better customer service and charging fair fees.Do they offer the same type of finance?
Customer-owned banks offer the same products and services such as home loans, personal finance, term deposit accounts and credit cards.Are they still tightly-regulated?
Because they're still so-called Authorised Deposit-taking Institutions (ADIs), customer-owned banks like building societies and credit unions must still adhere to the regulations as other banks and lenders. These regulations are set out in the Banking Act 1959 and enforced by the Australian Prudential Regulatory Authority (APRA). They must also adhere to the Corporations Act 2001 (enforced by the Australian Securities and Investments Commission) so there's no shirking their responsibilities as an Australian financial institution.What are the benefits?
Some of the benefits of getting a home loan with a customer-owned bank include:Will you always get a lower interest rate?
Not always but research from Choice found that customer-owned banks consistently offer better interest rates on all of their products including home loans. The average standard variable home loan rate for owner-occupiers in the customer-owned banking sector was 69 basis points lower than the average advertised standard variable rate offered by the four major banks before the rate rises in late 2015. The difference works out to a saving of around $160 a month for a $400,000 home loan on a 25-year term.Do they really offer better customer service?
Roy Morgan research found that building societies had the highest customer satisfaction rating as of May 2015 (93.8%), followed by mutual banks (92%) and credit unions (90%). This compared to the big four's rating of 81.5%.What are the drawbacks?
Although customer-owned banks can often offer you a better interest than other banks and lenders, you generally have to be a strong borrower to get approved. Unlike some of the other lenders on our panel, the following generally applies to mutual banks:Which banks are customer-owned?
Australia's mutual banks, credit unions, and building societies include:How do customer-owned bank help the community?
One of the definitions of a mutual bank is that it supports the local community through social responsibility and, in some cases, environmental responsibility. The following three mutual banks support the local community in the following ways (contribution figures accurate as at May 2015). Teachers Mutual Spends 4.55% of pre-tax profits on community investment which is 12.6 times the average for the financial services sector in Australia and New Zealand. Bankmecu Developed 'Conservation Landbank' to help protect natural forests in Victoria's west Wimmera region, with 927 hectares purchased for protection since 2008. Community First Credit Union Donates half the annual fee on its 8.99% credit card (for purchases, cash advances, and balance transfers) to the McGrath Foundation.What is COBA?
The Customer Owned Banking Association (COBA), the main industry body, represents 74 credit unions, 6 building societies, and 12 mutual banks. They also represent 13 so-called friendly societies or mutual societies which provide savings, investment and insurance products to help its customers plan for life events like education, retirement, health, and travel. The association started out as the Association of Building Societies and Credit Unions (Abacus - Australian Mutuals) in 2006, a merger between the Credit Union Industry Association (CUIA) and the Australian Association of Permanent Building Societies (AAPBS). On 1 July 2013, it was relaunched as COBA.Do you need a home loan?
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers. We can properly assess your situation and recommend home loan solutions that best suit your needs and ultimate financial goals![wbcr_snippet id="72955"] ) [701] => stdClass Object ( [post_id] => 446 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Note: Most lenders restrict the amount you can borrow quite significantly to around 70% of the property value. We deal with a few select lenders that can consider lending more on a case by case basis.
Call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will help you to get approved!
Up to 6 units / dwellings
Note: Most lenders restrict the amount you can borrow quite significantly, usually to around 60% of the property value or they will offer you a commercial loan at a higher interest rate.
We can still offer residential loans for this type of security through some of our specialist lenders.
You can often pay below the Bank Standard Variable Rate even though many other lenders would charge you commercial interest rates.
Up to 10 units / dwellings
Note: Most lenders restrict the amount you can borrow quite significantly to around 60% of the property value or decline the loan outright.
We can consider large loans such as this at interest rates below the Bank Standard Variable Rate.
More than 10 units in one block / dwellings
Many lenders will assess these properties as developments and will refer you to business banking.
You can borrow more than 70% of the property value using a residential development loan at a competitive interest rate.
Call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers will help you get approved!
) [702] => stdClass Object ( [post_id] => 13591 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>We have made agreements with some of our lenders to offer waived LMI and interest rate discounts for certain professionals.
The professions listed below are eligible:
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to determine if you qualify for a professional discount.
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Most lenders are very cautious in lending money to borrowers who have a bad credit history that is either ongoing or where the adverse listings have not been cleared, therefore it is important to know what your credit history is like.
The following information is recorded on your credit file and can be seen by the banks and lenders:
Did you know that approximately 14% of Australians have a default or other black mark on their credit file?
To save yourself from being turned down by the banks for a loan due to your bad credit history, simply call us on 1300 889 743 or enquire online and one of our specialist mortgage brokers will help you get approved!
) [704] => stdClass Object ( [post_id] => 42823 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>We know lenders that will accept 100% of your medical discharge benefits if you receive these benefits from any of the following military superannuation schemes:
You may also receive benefits from the Department of Veteran's Affairs (DVA), which falls outside of the Commonwealth Superannuation Corporation (CSC), trustee of the Government's public sector and military super schemes.
By using incapacity benefits, you can increase your borrowing power and buy the property you really want.
As a member of the Australian Defence Force (ADF), you'll also be entitled to:
Call us on 1300 889 743 or complete our free assessment form to find out if you quality for an ADF medical discharge home loan.
Also, check out the defence force home loan discounts page for more information on special discounts for ADF members.
) [705] => stdClass Object ( [post_id] => 43236 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Select lenders are willing to offer huge savings to get your business:
*This includes your taxable income and rental income. It doesn’t take into account your spouse’s income.
Your industry membership, your income and the loan size will ultimately affect the size of the discounts that you’ll receive on your home loan.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form.
We can tell you if you can qualify for a professional discount on a quantity surveyor home loan.
) [706] => stdClass Object ( [post_id] => 30524 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Unfortunately, this product no longer exists. They were withdrawn from the Australian mortgage industry after the Global Financial Crisis (GFC).
Instead you can take out a guarantor home loan.
How did they work?
Basically, 106% home loans were like guarantor loans but without the guarantor.
Lenders allow you to borrow the full price of the property. They also cover most of the costs associated with the mortgage including stamp duty, legal fees and mortgage insurance.
106% home loans were better suited for first home buyers and borrowers with little to no savings.
You can call us on 1300 889 743 or fill in our free online assessment form to find out what options are available for you.
What options do I have now?
The GFC saw many traditional no deposit loans, such as the 106% investment loan, withdrawn from the Australian property market.
Today, guarantor home loans are the only way you can borrow more than 100% LVR (Loan to Value Ratio) with no LMI (Lenders Mortgage Insurance). Although you can't get 106% home loans, you can still borrow up to 105%, even 110% if you're consolidating your debt.
) [707] => stdClass Object ( [post_id] => 79881 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
In NSW, the First Home Buyers Assistance scheme offers a stamp-duty exemption for first-home buyers. As of 1 July 1 2023, the following exemptions and concessional rates are in effect:
| Property Type | Property Value | Stamp-Duty Exemption/Concession |
|---|---|---|
| New or Existing Homes | Up to $800,000 | Full exemption |
| Over $800,000 but less than $1,000,000 | Concessional rates available | |
| Vacant Land with Intent to Build | Up to $350,000 | Full exemption |
| Over $350,000 but less than $450,000 | Concessional rates available |
Unlike some other states, this exemption applies to all property types, not limited to new or off-the-plan properties.
Our team at Home Loan Experts is passionate about helping you achieve your homeownership dreams. We bring our expertise in mortgage and lending to the table, ensuring you make informed decisions and secure the best possible financing options. Call us at 1300 889 743 or complete our free online assessment form today!
) [708] => stdClass Object ( [post_id] => 242 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Although lending guidelines vary between lenders, we can usually help you to refinance your existing loan if you are in the following situation:) [709] => stdClass Object ( [post_id] => 47981 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => You can borrow up to 100% of the value of the truck or heavy vehicle and another 50% for business cash flow purposes with select lenders. Generally speaking, you need to meet the following criteria:
What loan features are available?
Whilst it may make sense to save on energy and protect the environment through buying a house that's made of mudbrick or straw bale, lenders often see these types of properties as being difficult to sell.
Unconventional property types do not have the mass appeal of more traditional home types. As such, the lenders can offer 80% LVR maximum on a readily saleable property.
Our expert mortgage brokers can help you get the loan for your unconventional home of your dreams! Please call us on 1300 889 743 or enquire online today!
) [711] => stdClass Object ( [post_id] => 35859 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The short answer is, no.
Compared to credit cards, personal loans or car loans, having one or even two pre-approval enquiries on your credit file within 12 or even 6 months won't affect your credit score too much.
In fact, it's not uncommon for investors looking to rapidly grow their property portfolio to make 3 or even 4 home loan enquiries in a couple of months!
In some cases, it may even improve your credit score, particularly if you've never had any enquiries on your credit file before.
Where it can be a problem is if you've applied for a pre-approval with multiple lenders in a short timeframe.
You may well be shopping around to see what deal you can get but most banks won't see it that way.
They it as a shopping pattern where you've been declined by one lender and now you're trying to see who will approve your application. Not a good look!
What's a better alternative?
A mortgage broker can properly assess your situation, for free, and provide you with up to three home loan recommendations with an indicative interest rate and list of fees.
The best news is that you won't get an enquiry on your credit file so your credit score won't be affected!
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our brokers about your home loan enquiry.
) [712] => stdClass Object ( [post_id] => 68227 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>) [713] => stdClass Object ( [post_id] => 17122 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => With select lenders, you may be able to borrow up to 90% of the property value. To qualify, the following criteria generally applies:
) [714] => stdClass Object ( [post_id] => 27380 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
If your parents or someone else can gift you a deposit, some banks will actually allow you to borrow up to 95% of the property value with no genuine savings.
Do you know someone who can help you out with a gifted deposit?
Speak with one of our gifted deposit specialists on 1300 889 743 or complete our free online assessment form and we can tell you if you qualify within 24 hours!
) [715] => stdClass Object ( [post_id] => 33319 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Not every lender accepts each income type!
Each will accept a certain percentage of that income and will have different verification requirements.
Do you need help getting your home loan approved? Call us on 1300 889 743 or fill in our free assessment form and our mortgage brokers will help you to get approved!
) [716] => stdClass Object ( [post_id] => 68307 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Improve Your Credit Score
Starting from your payment history and account balances, your lender will take a good look at your credit situation when analysing your application. If you aim to secure the lowest interest rate possible, it’s time you start improving your credit. In case you are applying for a joint loan with a spouse or other partner, pay attention to their credit as well. Although credit bureaus like Equifax don’t disclose their credit score calculation process, here’s a brief estimation of the formula they use:Maintain Stable Employment History
A consistent, long work history speaks volumes to mortgage lenders. Gradually growing, stable annual earnings on your loan application means your income is reliable and won’t be a risk for your lender. You’ll receive one of the lower interest rates available. On the other hand, if your recent financial behaviour shows multiple job changes, it gives an impression that you don’t fall into the ‘safe borrower’ category. The interest rate you receive will be more expensive than one that goes to a lower-risk borrower.Put Down A Higher Deposit
Calculate and analyse what amount of money you are willing to put down on your house. The higher your down payment, the less your borrowing amount will be and the less interest you’ll have to pay. Putting a substantial amount of money down lowers the amount you borrow and helps earn the lender’s trust. A deposit of 15% and less is considered as a low deposit - a deposit of 20% is enough to impress. This can save you thousands over the life of your loan. Expert Tip: Lenders can charge high interest rates for very small home loans as well. Try to keep your loan amount above $100,000 to make sure you bag the best mortgage interest rates possible.Find The Best Deal
No better way to find the best interest on your mortgage than by seeking out the lender with the lowest rates. Shopping around gives you the answer to your unique home loan situation. Browse through 50+ lenders in our panel to find the best loan for you. While banks are a good option for some homebuyers, non-bank lenders might be the way to go for others. Depending on factors like your borrowing amount, strength of your loan application and term of the loan, ideal lenders differ. Shop around to find the best deal for your home loan requirements. Read more about negotiating your interest rate with your lender.Go For A Shorter-Term Loan
A shorter home loan term means you make higher repayments, but you pay less in interest. As short-term loans are usually considered less risky, your lender will most likely settle for a lower interest rate. Apart from that, lenders are always in favour of homebuyers repaying loans quickly. So if a lower interest rate is among your top priorities, go for a 10-year or a 15-year mortgage, instead of a 30-year mortgage.Get Expert Assistance
Get professionals to help assess your financial situation and your loan application. Our Experts know the best possible ways to help you land the lowest interest rate possible. From negotiating a great interest rate on your behalf to assisting you throughout the life of your mortgage, we make your home loan experience convenient. Call us on 1300 889 743 or fill in our free assessment form and we’ll let you know the best interest rates available to you. ) [717] => stdClass Object ( [post_id] => 44727 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Yes, we have a number of major and second-tier lenders on our panel who can assist you with applying for a new SMSF loan. We're not sure how long they will keep operating in the SMSF loan space!
Call us on 1300 889 743 or complete our free assessment form to speak with one of our SMSF loan specialists.
) [718] => stdClass Object ( [post_id] => 21184 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The loan offer will arrive a week after you are given formal approval and will come in two accompanying documents.
The first document, the offer letter, will specify all of the aspects of your home loan including:
Accompanying the offer letter will be a detailed copy of the loan terms and conditions, the size of which can vary from a 5-page contract to a 100-page booklet depending on the lender.
The loan terms and conditions may also include a ‘checklist’ of extra supporting documents that you will be required to supply before the loan will be advanced.
If you’ve started a home loan application with us and have received your loan offer documents, stop!
Call one of our brokers on 1300 889 743 first and we can go through the documents with you to ensure no errors have been made by the bank.
) [719] => stdClass Object ( [post_id] => 30533 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
After the Global Financial Crisis, several no deposit loans were withdrawn from the mortgage industry in Australia.
Family mortgage are still available though and there are a number of benefits:
You can speak with one of our mortgage brokers who specialise in family mortgages on 1300 889 743 or by completing our free online assessment form.
) [720] => stdClass Object ( [post_id] => 503 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
The majority of lenders restrict the loan amount for duplexes to below 80% of the property value, or 60% for low doc loans. We deal with banks that are willing to consider lending more, depending on the location and value of the duplex.
No matter the LVR restrictions, you may be able to borrow the full costs of the purchase by using a guarantor.
Please call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers can help you to get approved.
) [721] => stdClass Object ( [post_id] => 46874 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
There is no right time to buy an investment property but there are certain factors that should influence your decision:
Call us on 1300 889 743 or fill in in our online enquiry form.
One of our mortgage brokers can assess your financial situation in full and let you know if you qualify for an investment loan.
Already have a property in mind?
Provide us with the address and we can find out the indicative property value.
We can then ask you how much you're looking to borrow and run through some figures on how much it will cost to own an investment property.
In this way, you can make a more informed decision as to whether now is the right time to buy or whether you are better off continuing to pay down your mortgage.
) [722] => stdClass Object ( [post_id] => 45536 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Have you received severance pay but need a home loan or want to refinance your mortgage?
Call us on 1300 889 743 or fill in our online enquiry form and we can let you know which lenders will accept severance as genuine savings.
) [723] => stdClass Object ( [post_id] => 5632 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Not only do you have to have a permanent and ongoing veteran pension income, but you also have to be receiving a certain type of veteran pension.
The following are typically accepted:
How much you can borrow though depends on the amount received from the veteran pension and some lenders will have age restrictions which need to be taken into consideration.
Our mortgage brokers are specialists in the lending criteria for veterans. Please call us on
1300 889 743 or enquire online for further assistance.
) [724] => stdClass Object ( [post_id] => 13120 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
To qualify for our ‘High Net Worth Clients’ package you must meet the following criteria:
In some cases, we can make an exception for property investors who have lower assets or a lower loan amount albeit you’ll still need to earn a substantial income.
For more information, please call us on 1300 889 743 and discuss your situation with one of our senior mortgage brokers.
) [725] => stdClass Object ( [post_id] => 23425 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>If you are buying a commercial property:
If you are refinancing a commercial property:
Call us on 1300 889 743 or fill in our free assessment form and we'll let you know if you can qualify for a low doc loan.
) [726] => stdClass Object ( [post_id] => 944 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
The amount that you can borrow depends on the loan product that you require:
Low doc family trust loans are only available from a few select lenders. Please discuss this with us before you begin looking for a property to buy.
Some lenders have restrictions on lending to family trusts with a company as the trustee, but can accept trusts with a personal trustee.
Do you want to obtain finance for your family trust? Please enquire online or contact us on 1300 889 743 to speak to a specialist mortgage broker who can help you get your loan approved.
How do banks view family trusts?
Banks view family trusts in the same way as they view discretionary trusts and almost half of the Australian lenders will decline loans for discretionary trusts.
Many will instead refer you to their business banking department who will then charge a higher rate and additional fees.
We have mortgage brokers that specialise in family trust lending and can find a lender to approve your mortgage with a normal residential loan with professional package discounts.
) [727] => stdClass Object ( [post_id] => 486 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Do you need help to finance your purchase?
Please call us on 1300 889 743 or enquire online.
One of our mortgage brokers will call you to let you know if you qualify for a company title mortgage.
) [728] => stdClass Object ( [post_id] => 32553 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Yes, banks accept properties in the ACT even if they are actually leasehold!
To buy an ACT leasehold property, you can borrow up to:
Unlike leasehold properties elsewhere, there are no restrictions on the length of lease remaining.
A Canberra property is treated like any other freehold property for lending purposes.
Our mortgage brokers can help you create a strong loan application and apply with the right lender for your situation.
You can speak with one of our specialist mortgage brokers by calling us on 1300 889 743.
You can also complete our free online assessment form for a free quote within 24 hours.
) [729] => stdClass Object ( [post_id] => 35474 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
If the frame and cladding are council-approved, and the inside of the property is a standard design and uses otherwise standard building materials, you may qualify for the following:
Please call us on 1300 889 743 or complete this free assessment form to speak with one of our liveable shed loan specialists.
) [730] => stdClass Object ( [post_id] => 490 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Stratum title has some restrictions, with many lenders refusing to accept these properties as security for a mortgage.
We have access to a few select banks that will lend up to 85%.
In particular there are only a select few lenders that can consider stratum title low doc loans.
Enquire online or call us on 1300 889 743 to talk to a mortgage broker that specialises in stratum title properties.
) [731] => stdClass Object ( [post_id] => 47889 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The average credit score or Equifax score in Australia is 550, so scores in the range of 600-700 are considered “Good”.
Any score above 700 are considered “Excellent”, although we've seen scores as high as 1200.
If your score is below 500, don’t worry!
There are specialist or non-conforming lenders that offer so-called bad credit home loans.
In some cases, our experienced mortgage brokers can build a strong case with a second-tier lender as long as you can show that your past credit problems are behind you and you're in a more stable financial position.
To find out whether your credit history may be a problem, please enquire online or call us on 1300 889 743 today.
) [732] => stdClass Object ( [post_id] => 32857 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The short answer is yes.
We know some lenders that may lend:
Two ways to get the money you need to build a granny flat
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for granny flat loan.
) [733] => stdClass Object ( [post_id] => 34954 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => If you have the capital and a strong financial situation, we can help you secure finance:
) [734] => stdClass Object ( [post_id] => 78953 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => As a Nepali borrower, you may face specific challenges and have unique needs. These could include a limited credit history, language barriers, cultural preferences, and the need for a broker who respects your cultural values. Our brokers understand these challenges and are equipped to address them.
) [735] => stdClass Object ( [post_id] => 6354 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Find out why the valuation was low
The main reason that valuations come in low is that the valuer didn't find any comparable sales to support the value that you estimated.
However, there could be another reason. Some banks allow you to see a copy of the report, which can help you to work out why you didn't get the value that you expected.
Find comparable sales
You can use our guide on how to value a property to find recent sales of similar properties which can be used as evidence of the value of your home. When the next valuer comes out to see your property, you can give them a copy of your sales evidence.
Forget your existing bank
If your bank has a valuation on file showing your property to be worth a particular amount then that's it. You can get a private valuation or a valuation from another lender, however, your bank will always use the lower of the two. Your only choice is to use a different lender.
Get an up front valuation
Don't just put in another loan application! You'll damage your credit score by having too many enquiries on your credit file. Some banks allow us to order a free valuation up front before submitting a loan application.
Talk to us for assistance
Do you need help to get a better valuation of your property? Call us on 1300 889 743 or enquire online and one of our mortgage brokers can help you to refinance using a new valuation from a different valuer.
) [736] => stdClass Object ( [post_id] => 34783 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Depending on the size of the land, its location and what you intend to use it for, some lenders will allow you to borrow the following:
Please call us on 1300 889 743 or enquire online and we can tell you if you qualify for a rural home loan.
) [737] => stdClass Object ( [post_id] => 45485 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Some lenders are more conservative than others when it comes to high tension power line home loans.
You may be knocked back even if the property boundary is 150m away from power lines or a substation!
We're specialist in mortgages for unique property types so call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify for a home loan.
) [738] => stdClass Object ( [post_id] => 32684 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>We have a dedicated post-settlement team and here are some ways our team can help you to manage your home loan:
Our mortgage brokers deal with many post-settlement queries on a daily basis so call us on 1300 889 743 or fill in our online enquiry form to discover how we can help you.
) [739] => stdClass Object ( [post_id] => 35162 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>First of all, you need to be a high net worth individual and typically earning at least $150,000 per annum.
However, to meet this income requirement, the bank will use 100% of any rental income you're generating from investment properties that you own.
As a general rule, the bank will only consider professionals that have an accredited manager, agent or accountant.
Get the experts on your side!
In the media and entertainment industry, it's very common to change roles on a regular basis.
For example, it's not uncommon for journalists to become television presenters.
Similarly, many retired athletes have been known to move from the sporting field into presenting and commentating positions at radio and television networks.
Because of that, it's best we assess your situation in full. In many cases, we can still get you approved for a home loan for entertainment professionals even if you don't quite fit the employment criteria.
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [740] => stdClass Object ( [post_id] => 31083 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Depending on the strength of your case, you’re eligible for the following with some of our commercial lenders:
Please call us on 1300 889 743 or complete our free assessment form to find out if you’re eligible for Anytime Fitness finance.
) [741] => stdClass Object ( [post_id] => 946 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Low doc unit trust loans are only available from a few lenders. Please discuss with us before looking to buy property.
To get the best loan package around for your unit trust, call us on 1300 889 743 or enquire online today. Our expert mortgage brokers know how to get tough loans approved!
) [742] => stdClass Object ( [post_id] => 8399 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
When borrowing more than 1 million dollars, both 90% and 95% LVR loans have strict lending criteria. These include:
In order to get approved, you need to find the lenders that will assess your situation more favourably. We specialise in loans over $1,000,000 at 90% and 95% LVR. Please enquire online or contact us on 1300 889 743 and we can help get your mortgage approved!
) [743] => stdClass Object ( [post_id] => 46285 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>No! Some lenders take a more common approach than others.
As long as you can show that you can afford the loan amount, you'll have a good chance at approval.
Typically, you'll need to provide:
We understand that professionals like doctors, accountants, lawyers and engineers tend to have high basic living costs and discretionary spending.
In some cases, completing a living expenses reduction declaration can improve your borrowing power drastically.
We can help good borrowers like you qualify for incredible home loan discounts so please call us on 1300 889 743 or fill in our online enquiry form to speak with a mortgage broker.
) [744] => stdClass Object ( [post_id] => 61063 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The Australian property prices are hard to keep track of for someone unfamiliar with the recent property market trends.
Our mortgage brokers are all very much involved in the property market and hence monitor it closely.
Our experts can help you with the reconstruction or outstanding mortgage of the property you are looking to sell.
Give us a call on 1300 889 743 or fill in our free online assessment form today.
) [745] => stdClass Object ( [post_id] => 42098 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Instead of saving a big enough deposit or waiting until you earn a higher income, some Australians decide to rent in the area they really want to live in.
The most sought after areas tend to be metro locations or affluent suburbs with high property prices so paying rent is often cheaper than making mortgage repayments.
By investing in a reasonably-priced property in an outer suburb you pay less in loan repayments and generate some rental income.
With capital growth, you can also leverage the equity when you eventually decide to buy your own home in your dream suburb.
That's the theory anyway!
Give us a call on 1300 889 743 or complete our free assessment form and we can discuss with you what your home buying plans are.
We're experts in investment loans!
) [746] => stdClass Object ( [post_id] => 61808 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
As a property buyer, if you manage to buy the 'right property' in the 'right place', you could make a significant profit.
Brisbane also has suburbs extremely close to the CBDs, allowing you to reach work within 20 minutes - the new gold standard desirable lifestyle.
Our mortgage brokers can quickly assess your situation and get back to you with the best home loan options for Brisbane.
Please call us on 1300 889 743 or enquire online to go through your situation with an expert.
) [747] => stdClass Object ( [post_id] => 44710 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => By refinancing your home loan, you can:Discover more about the pros of refinancing below or, better yet, call us on 1300 889 743 and find out if you're in a position to refinance your home loan.
You can also fill in our easy online enquiry form to start the home loan refinance process today.
) [748] => stdClass Object ( [post_id] => 79274 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>With these tips, we hope to ease your journey and help you find the perfect place to call home. No matter if you're a buyer or tenant, don't let market conditions deter you. To get personalised assistance, fill out our free online assessment form or ring us at 1300 889 743 to speak with a mortgage specialist.
) [749] => stdClass Object ( [post_id] => 21507 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Home loans for pharmacists allow you to:
Speak to our specialist mortgage brokers today by calling us on 1300 889 743 or by completing our free assessment form to find out if you qualify for exclusive discount home loans for pharmacists.
Get LMI waived when borrowing 95%
Most borrowers are required to have a 20% deposit to avoid paying LMI. Saving 20% of the purchase can be quite difficult especially if you're just starting out in the workforce.
How much could you save by avoiding the cost LMI completely?
Literally, thousands of dollars!
For example, when purchasing a $1 million property at 95% loan to value ratio (LVR), you're saving between $21,330 and $23,805 in LMI fees.
You can use our LMI calculator to work out the LMI savings for yourself.
Pharmacists are considered to be lower risk than other borrowers and because of this, some of our lenders will allow to borrow up to 95% of the property with waived LMI:
Reduced interest rates are available
The size of the interest rate discount will vary depending on your professional status, total income and asset position, and the amount that you are borrowing.
Generally speaking, larger loan amounts (above $1 million) will attract the greatest rate discount.
The discounts and home loan fee waivers available are much higher than what banks advertise to the general public.
That's because there are a handful of lenders fighting very hard to attract borrowers who are professional pharmacists.
We also have strong relationships with the key decision makers at these banks to negotiate even sharper rates on your behalf.
A construction or building loan is usually based upon a fixed price contract. It can be land purchased with the intent to build, or property purchased with the intent to renovate or knock down and rebuild.
Cost plus contracts do not have a fixed price. This is normally because the builder cannot accurately determine the cost of construction so offering a fixed price would be a significant risk for them.
This is a problem for the bank! They cannot be sure that you have the funds to complete the project. The last thing that the bank wants is to be left with a half finished house as security for a large home loan.
If you are considering borrowing money to purchase property and to finance construction we can help. Some of our brokers specialise in cost plus construction loans, and can determine which lender is willing to assess your application.
To find out more, you can contact us on 1300 889 743, or you can enquire online and our brokers will contact you.
) [751] => stdClass Object ( [post_id] => 30605 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
A debt consolidation guarantee is a type of guarantee that allows borrowers to repay all of their credit debts. This can include your credit cards and personal loans, all rolled into one mortgage.
The guarantor provides their home as security for the loan. This reduces the risk to the lender allowing you to borrow 100% of the property value.
Having a debt consolidation guarantee also significantly reduces the interest you pay.
How much can I borrow?
Typically, lenders may allow you to borrow up to 110% of the purchase price with the help of a guarantor.
However, the debts you have must be less than 5% of the property price.
This strategy allows borrowers to step into the property market without having to wait to repay their debts, which normally takes several years.
Usually, the loan amount is enough to cover the purchase of the property as well as all other associated costs, including legal fees and stamp duty.
Call us on 1300 889 743 or fill in our free online assessment form to find out if you qualify for a debt consolidation guarantee loan today!
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Note: Most lenders restrict the amount you can borrow to 70% or less of the property value. Several lenders specialise in lending for these properties and can lend up to 80% of the value on a case by case basis. Some lenders refer to these types of loans as “jumbo loans” or “high value loans”.
Please enquire online or contact us on 1300 889 743 and our mortgage brokers will provide you with expert advice on the amount you can borrow for a luxury property.
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Some lenders will limit your borrowing power because they believe that your income is likely to fluctuate and that rideshare drivers tend to only operate on a temporary basis.
Not all lenders take such a conservative approach!
We're experts at getting home loan approvals for Uber drivers so call us on 1300 889 743 or fill in our online enquiry form to find out how we can help you.
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Some of our lenders have excellent policies that allow you to maximise the amount you can borrow when buying a property below market value.
Note: Most lenders are very restrictive in the way they assess home loans for buying a property below market value. Some will lend no more than 80% of the property value while others will use the lesser of the purchase price or valuation in their assessment.
Please call us on 1300 889 743 or enquire online to find out how much you can borrow.
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Interest only offset accounts are generally only approved to property investors.
Please call us on 1300 889 743 or complete our online enquiry form so we can fully assess your suitability for this home loan type.
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The interest rates and fees be offered on a line of credit facility vary across all lenders but most will offer similar features such as ATM access, cheque books and internet banking.
If you would like to know more, please call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers today.
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If you want to purchase a property in a mining town then call us on 1300 889 743 or enquire online and one of our mortgage brokers will be in contact to let you know which banks can approve your home loan.
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Think of applying for a franchise loan like going for a job interview: you have to put your best forward and tell the lender why you're the right person for this finance.
The stronger the case you can present, the greater your chance of getting approved.
Some banks and lenders have an approved list of franchises but this list is changing all of the time!
It's important to speak with a specialist mortgage broker that has strong relationships with business finance arms of the banks.
We can help you to put a strong application together and check to see if they still have the appetite to finance Mad Mex franchise.
Please call us on 1300 889 743 or complete our free assessment form to find out if you're eligible for a Mad Mex franchise loan.
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Which lender will approve my application?
Not all lenders are hungry for a fast-food franchise and each of them have their own borrowing limits for a Red Rooster franchise loan.
By highlighting your strengths as a borrower and business owner, we can help you borrow the amount you need with a competitively priced commercial loan.
Choosing the right lender is key.
Call us on 1300 889 743 or complete our free assessment form to speak with a franchise specialist today.
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They assess your situation and compare loans
Unlike a bank, where it can sometimes feel like you're just a number, brokers delve deeper into a client's situation and ask the right question so they can find you the right solution.
The right lender may not necessarily be the one that will offer you a competitive interest rate.
It may simply be one that will approve your home loan, particularly if you've been knocked back for a loan in the past because you weren't able to quite meet standard bank lending requirements.
This is where mortgage brokers really shine because they're able to take your information and compare home loans from a range of different lenders and provide you with a product recommendation that best suits your needs.
A bank will try to do the same thing but they can only offer their own interest rates and products.
It's fair to say that you're potentially missing out on a great deal if you don't sit down with a mortgage broker.
Read more about mortgage brokers versus banks.
They make the home loan process easy
Even if you already have a mortgage, applying for a home loan can be a daunting, time-consuming and even frustrating experience.
Banks aren't always the best communicators and documents can seemingly vanish into thin air!
A mortgage broker can take care of the entire application process for you, organising your documents, speaking with the bank, pushing the process along, and acting as your only point of contact all the way up to settlement and beyond.
The great news is that organising an appointment and simply having a conversation with a broker is completely free.
Give us a call on 1300 889 743 or complete our free assessment form to speak with one of our senior brokers and get a feel for what the process is like.
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One of our banks can consider funding a dual key apartment if it meets the following criteria:
If you think your bank will not approve your home loan, avoid damaging your credit file with unnecessary applications and contact us instead.
With the help of a guarantor to secure your mortgage, you can actually borrow up to 100% of the property value plus the costs of completing the purchase.
Call us today on 1300 889 743 or send us an online enquiry. We can help you find the right lender who can approve your mortgage.
) [762] => stdClass Object ( [post_id] => 53040 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Normally, a professional might get at least a 1% discount on the Bank Standard Variable (BSV) rate, but we can get you special interest rates discounts of up to 1.50% below BSV by negotiating with the banks. University professors and other staff can get special interest rate discounts if:
As specialist lenders are taking on a higher risk when approving people with bad credit, they charge a higher interest rate to mitigate this.
These lenders are known as non-conforming lenders because they're unregulated, non-deposit taking institutions (non-ADIs).
Specialist home loan providers have significant customer data and have identified that many borrowers with a poor credit file simply made a one off mistake, want a second chance and are less likely to default compared to someone who has never had a bad credit listing.
It's for this reason that they will consider black marks that wouldn't be approved by a mainstream lender, such as:
Golden tip:Having an adverse credit history doesn't always mean you need to pay bad credit interest rates.
Please call us on 1300 889 743 or complete our online enquiry form today.
We're experts in bad credit home loans and know how to present a strong case to the right lender.
In some cases, we can get exceptions to standard lending policies because of the relationships that we have with major banks.
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Not every lender is funded in the same way. In fact, in the USA it is actually the norm to be able to make extra repayments on your fixed rate loan. In Australia, there are only a handful of lenders that will allow you to make large extra repayments.
The lenders that do allow you this flexibility however have no restrictions at all for making extra repayments as long as you do not pay off the loan completely.
Please call us on 1300 889 743 or enquire online to discuss a fixed rate loan that allows extra repayments.
The above information about the major banks and other lenders is correct as at the time it was written. For specific information about how much you can repay off your current fixed rate loan please contact your lender. Both specialist lenders have competitive fixed rates similar to the major banks.
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If you can meet standard bank lending criteria and provide evidence of your income, subcontractors may be able to borrow up to:
Fill in our free assessment form or call 1300 889 743 and talk with one of our credit specialists and find out how much you can borrow with a subcontractor home loan.
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Find out if you’re in a position to refinance from low doc to full doc by calling 1300 889 743 or by completing our online enquiry form.
) [767] => stdClass Object ( [post_id] => 63798 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Home Loan Experts can help you lodge an application for the Family Home Guarantee scheme.We have other options available if you don’t qualify for the scheme.
Discuss your situation with our mortgage brokers today, and we’ll find you a home loan for your scenario. Call us on 1300 889 743 or fill in our free assessment form.
) [768] => stdClass Object ( [post_id] => 8049 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Most banks have conservative lending policies when it comes to bonus income. This is because a bonus or a once-off lump sum payment does not reflect your true annual earnings.
Alternatively, your salary whilst on a job overseas may be different from the pay you receive when you return from your posting.
For example, you may have been posted overseas in the military for 6 months. During this time, you may be earning $20,000 a month from both salary and allowances.
When you complete your posting, you will return to your normal salary of $70,000 a year.
As such, lenders are reluctant to include these funds in a serviceability calculation!
How can I get my military income included?
Most banks can't include your overseas income, unless we can give them a good reason why it should be.
This is why you should speak to us! We know which lenders have flexible lending criteria and can consider your allowance as part of your income. Enquire online or call us on 1300 889 743 to talk to a qualified mortgage broker.
Are any military purchase schemes or subsidies available?
There are two primary schemes available to Australian Defence Force (ADF) members. These include:
You may be eligible for both! To check whether you qualify for this assistance, please contact the ADF directly.
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Being a student visa holder doesn’t automatically qualify you for a mortgage in Australia, but you may still be able to borrow with help from your parents!
What are my options?
The first best method of buying a property is for your parents to buy an investment property in Australia in their name and to rent it to you. They would be doing this as an overseas property investor. So they must meet standard Australian bank lending criteria and need to apply for the Foreign Investment Review Board (FIRB) approval.
Most of the time, your parents will be eligible to borrow up to 70% of the property value. However, to qualify for FIRB approval, your parents must be buying a new property, not an existing home. The second option is to utilize the income from your overseas parents to service the loan, using full documentation or low documentation (Self employed) evidence for income. Your parents would not need to be on the title of the property. They will only be servicing the loan with their income for you.What if I have a job?
If you have a job and you are not working more hours than is allowed by your visa conditions, then we may be able to assist you in buying a property in your own name. To apply for a student visa mortgage in your own name you must have:
Most importantly, you must be able to prove that you can afford to repay the student visa mortgage using your income in Australia. This means that you will need to provide payslips, tax returns or a letter from your employer, depending on the lender that we help you to apply with.
However, if you cannot prove an income in Australia, then you should get your parents to buy a property in their name. You can’t apply for a home loan with your parents as a guarantor. To speak to someone who has in-depth knowledge of a student visa mortgage, please call us on 1300 889 743 or enquire online for some professional advice.
How much can I borrow on a student visa?
Despite being on a student visa, our lenders will allow international students on certain visa types to borrow up to 90% of the value of the purchase price, provided they meet the lending criteria. Some lenders may even be able to offer you a discounted student visa mortgage.
Want to find out your borrowing power?
Discuss your situation with our mortgage brokers, and they can quickly work out how much you will be entitled to borrow. Enquire online or call us on 1300 889 743 to find out how we can help you get approved.Will I need a deposit?
Yes, most banks require you to provide a 20%-30% deposit. You will need another 5% of the purchase price to cover purchasing costs such as stamp duty and conveyancing fees. If your parents choose to gift you some money to put towards the purchase price, then this will be accepted by most major banks. These funds must be deposited into your account before the application can be processed.) [770] => stdClass Object ( [post_id] => 22910 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
If you’re borrowing 80% of the property value or less, you may qualify for special pricing not advertised to the general public.
The special rates we may be able to get you are even better than the reduced rates on our interest rates page!
As a mortgage broker, we know exactly the wholesale funding position of the lenders on our panel and which of them are currently offering the most competitive negotiated pricing for people like you with your loan size.
To qualify for our High Net Worth Clients Package you would normally need to have:
However, if you’re borrowing less than 80% of the property value (LVR) and you earn a good income, we can sometimes make exceptions for property investors who have net assets less than $1 million and are applying for a loan under $2 million.
Complete our free assessment form or call us today on 1300 889 743 to find out what benefits you may qualify for as a high net worth individual.
) [771] => stdClass Object ( [post_id] => 23608 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can buy a commercial property in your SMSF.
Getting a sharp interest rate
Did you know that the banks have vastly different interest rates for SMSF loans used to buy a commercial property?
That's because this is a relatively new area of finance and most borrowers don't know what interest rates are on offer!
The banks charge higher interest rates, take less risk by limiting the loan amount and will not accept non-standard commercial and residential properties as security.
By using a mortgage broker you can be sure that you're getting a competitively priced commercial loan.
) [772] => stdClass Object ( [post_id] => 49876 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => There are fewer properties on the market compared to the number of buyers, so acting fast is critical. If you like a property, you need to make an offer quickly before other buyers do. Don't offer too low, as you'll likely miss out. This varies depending on the suburb. If you're preapproved and you have a conveyancer ready then you'll be ahead of most buyers. Before you start looking, secure the finance you need to purchase a property by getting a reliable pre-approval. Give us a call on 1300 889 743 or fill in our online enquiry form to get pre-approved. ) [773] => stdClass Object ( [post_id] => 68400 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => If you are considering getting a fixed-rate mortgage or already have one, we can help you lock in the best rates possible. We have helped thousands of homebuyers find the best rate for their loan situation. Speak to us on 1300 889 743 or fill this free online enquiry form to hear back from us. ) [774] => stdClass Object ( [post_id] => 63662 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Our expert brokers can help you get a home loan in Victoria.
Call us on 1300 889 743 or enquire online, and we can then discuss your situation with you.
) [775] => stdClass Object ( [post_id] => 13512 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>One year's tax returns
Some of our lenders do not need two years tax returns or financial statements.
This is great news for people who have a new business with a low profit in the first year or for businesses that had a one-off bad year.
You will need to provide:
Old tax returns
Did you lodge the last tax return some time ago? Out of date tax returns can be accepted by some of our lenders.
Lenders might request your Business Activity Statements (BAS) in case if the tax returns are not available.
As a general rule, you must meet the following criteria:
Not sure which lender can accept old tax returns for your business?
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will see if we can use your old tax returns.
How old can my tax returns be?
Your latest tax return must be from the financial year that ended no more than two years ago.
For example, the 2019/2020 financial year ended on 30/6/2020. So we can accept your 2018/2019 and 2019/2020 tax returns as evidence of your income until 1/7/2021!
Recent tax returns can be beneficial for you, especially if you can’t provide BAS. We know lenders who don’t require BAS if you have recent tax returns.
What if my old tax returns don't show a good income?
We can sometimes use an old tax return combined with 12 months BAS to prove your income.
The lender will use your old tax return to work out the profit margin for your business.
They then use the turnover from your BAS and apply this profit margin to work out your current profit. With this method, you can borrow up to 90% of the property value.
Who can use this method?
This is ideal for someone who has a good income, however, has not completed their most recent tax return.
How much can I borrow?
This is a full doc loan, otherwise known as a normal loan. You can borrow up to 90% of the property value and you can obtain discounted interest rates with one of our lenders.
If you provide BAS in case the tax return is not available, it will be a low doc loan.
Self employed contractors
As a self-employed contractor, you:
In this case, lenders might be able to accept your income with just your invoices and bank statements as evidence of your income. While some lenders might ask for more documents to validate your income.
In case you are also a PAYG employee, you might need to provide an accountant letter, BAS, or a tax return.
Please refer to our contractor loan page for more information.
Financials, without tax returns
Some of our lenders will accept two years financial statements without tax returns for alt doc home loans. Of course, there are some conditions:
This is a great option for someone who is delaying the lodgement of their tax return. Many business owners complete their financials soon after the end of the financial year but refrain from lodging their tax return so that they don't need to pay a large tax bill right away.
Self-Employed Salary As Income
If you’re self-employed and you get a regular salary from your business, you can now use it as income to apply for a home loan.
Suppose you are paying yourself salary/wages from your business. In that case, we can provide use six months' payslips and a letter from your accountant stating that the business can cover its debts and is trading profitably.
This policy is acceptable to some lenders instead of providing tax returns and financials.
) [776] => stdClass Object ( [post_id] => 9192 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>A question you must answer is whether or not to fix the rate of your loan. If you choose to do so, you can lose a lot of flexibility with your loan and you also may be charged fees (often called break fees as you are breaking a fixed contract), if you make changes or try to make extra repayments.
Read more about fixing your interest rate on our page about whether you should fix your home loan.
Changing the term of your mortgage can also affect your rates. For example, different Australian mortgage lenders may offer different rates for a 15 year term compared to a 30 year term.
How much you borrow can also affect what rates the banks will charge. Remember to also factor in lenders mortgage insurance if you are borrowing over 80% LVR (80% of the property value).
For information on interest rates and more you can talk to us.
If you are overseas, call +61 2 9194 1700 or enquire online.
Are you in Australia? You can call us on 1300 889 743 or enquire online. ) [777] => stdClass Object ( [post_id] => 67439 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
1. Woolloongabba
The Games will have a big impact on Woolloongabba, with median property prices forecast to jump from 1.09 million this year to more than $2 million by the time of the Games. The suburb is home to the Gabba, one of Australia’s most famous stadiums, which will receive a $1 billion facelift to accommodate 50,000 spectators for the Games. The stadium will host the Opening and Closing ceremonies. Suburbs close to Woolloongabba and the Gabba, like Annerley, Dutton Park and Coorparoo, are also expected to experience growth in prices.
2. Hamilton
One of the biggest Olympic-related median price increases is forecast to take place in Hamilton – from the current $1.65 million to a whopping $4 million after the Games. This will help improve the collective median price of Brisbane houses to $1.2 million by 2032, forecasts show. The biggest driver of Hamilton’s massive increase in property values will be the Athlete’s Village, which plans show will be built on waterfront real estate within the suburb. The homes constructed to accommodate athletes will be sold to the public after the Games. Also forecast to add to the boom is the planned development of Brisbane International Cruise Terminal in Hamilton, to facilitate the world’s largest mega-cruise ships.
3. Tennyson
The Olympic tennis tournament will take place in Tennyson, and experts say real-estate prices there will almost double – from the current $0.97 million to $2 million. An ongoing bid to re-open the southside passenger rail line from Corinda to Tennyson will also lift prices, if successful.
4. Albion
The construction of a new village in the inner-north suburb of Albion has been labelled Queensland’s largest waterfront urban renewal project. The conversion of the Albion Park Paceway into an Olympic indoor stadium is expected to increase property prices here.
5. Paddington and Kelvin Grove
The development of Brisbane Live Arena at Roma Street is expected to help elevate property prices in Paddington and Kelvin Grove, which are both less than 3 km from the site of the arena. The new world-class venue, to be built right at the heart of the CBD, will be the entertainment hub for the 2032 Games and will seat up to 17,000 visitors. Apart from infrastructure and transport line development specifically for the 2032 Olympics , major projects like the Cross River Rail, Brisbane Metro System and the Coomera Connector are set to be completed before the commencement of the Games. This spree of projects all but guarantees that property prices in Brisbane will experience a sharp rise in the decade to come.
The properties in Brisbane are getting sold out at record rates due to the predictions of increase in value over the next decade. If you would like to find your best option for purchasing a property in Brisbane, call our expert mortgage brokers at 1300 889 743 or fill out our free enquiry form.
) [778] => stdClass Object ( [post_id] => 2623 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>If you have many enquiries on your credit file then the lenders will see you as a high risk borrower.
They worry that you may have been declined by all of the other lenders, and they wonder what the other lenders know about you that they don't!
As a result, your credit score is reduced.
The good news is that some lenders have low credit score home loans for Australians that have too many enquiries.
When it comes to credit enquiries, the major lenders prefer if you only have one or two enquiries in the last six months, any more than this then it is likely for the banks to decline your mortgage.
However, there are some lenders who are stricter and will ask for explanations for all the enquiries that you have made in the last two years.
In this case it would depend on the reasons that you provide to the banks to determine whether your loan application will be accepted for finance approval or not.
Please call us on 1300 889 743 or enquire online to find out which lenders take a lenient approach to your credit file activity.
) [779] => stdClass Object ( [post_id] => 31086 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Depending on the strength of your case, you may be eligible for the following:
Can I get residential interest rates?
Even if you're using equity in your property as security, the bank will still charge interest rates in line with a franchise or commercial loan. These rates are a little bit higher than standard residential loans because of the risk involved in business finance. However, we have strong relationships with a number of lenders and can often negotiate reduced interest rates depending on the strength of your application. Call 1300 889 743 or complete our free assessment form to find out if we can get you qualified for a Grill'd franchise loan.) [780] => stdClass Object ( [post_id] => 35500 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Discover if we can get you approved for a SumoSalad franchise loan!
We're franchise loan specialists that know how to build a strong case with the right lender.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers!
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Mortgages in Australia can be far easier and less stressful than other countries. As most regulations are nation wide and not state by state (like the US), it is easier for websites and brokers to bring together the information for you.
Australian professionals such as mortgage brokers are also bound to far stricter rules and regulations than those of other countries. They are therefore more likely to find you a mortgage with great terms and competitive rates. Mortgage broker services are mostly free for residential loans too!
Our brokers specialise in Australian mortgages and work with over 40 different lenders. You can contact us on 1300 889 743 (when outside Australia call +61 2 9194 1700), or enquire online.
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The ‘Best Training and Education’ category recognises businesses that are providing its mortgage brokers with the most effective and diverse training programs relevant to the important role that a broker plays.
Although our brokers have worked in the credit departments of the major banks, they are still run through a rigorous training program. It covers areas such as the credit requirements set out under the National Consumer Credit Protection Act (NCCP) and lender training, so that our brokers know immediately which lenders can help you. We also run a training course that covers all loan types and scenarios so we can provide the most accurate answers to you as our client.
We also offer external training opportunities to our mortgage brokers and require all of our staff to complete a skills audit six months after starting their employment with us and every 12 months after that. In this way, we ensure that our brokers' skills are always ready to handle your case with professionalism and a keen understanding.
Find out more about our intelligent and hard-working team. Call us today on 1300 889 743 to discuss your situation and you'll soon realise why we're called Home Loan Experts!
) [783] => stdClass Object ( [post_id] => 44665 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The secret tip to borrowing 100% no LMI
Call us on 1300 889 743 or fill in our free assessment form to discover if you qualify for a 90% no LMI home loan, or whether you can borrow more and still avoid this huge mortgage cost.
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As long as you can prove that the fringe benefit is regular and ongoing, you could potentially borrow up to 95% of the property value or up to 105% of the property value with your parents acting as guarantor for your home loan.
Company car and LAFHA are two of the most common fringe benefits that we deal with.
One of our lenders will actually accept up to 100% of your car allowance or will add $5,000 to your assessable income.
Other benefits are accepted on a case by case basis.
The more fringe benefits or additional salary packaging income you can add to your assessable income, the more you can borrow!
How do I get approved?
We know of two lenders that will add fringe benefits to your gross taxable so it better reflects your actual income.
The amount that the lender will add and how much of the fringe benefit they will use depends on the type of benefit it is.
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for a fringe benefits mortgage.
) [785] => stdClass Object ( [post_id] => 75504 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Think you are ready to buy? We can help you find the lowest rates for your situation and help you breeze through your home loan process. Call us at 1300 889 743 or complete our FREE online assessment form, and we’ll get back to you soon. ) [786] => stdClass Object ( [post_id] => 44745 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Please call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify for a TAC compensation home loan.
) [787] => stdClass Object ( [post_id] => 35503 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Some of our lenders only offer home loans with reward points to people buying a house to live in. However, some lenders offer points and cash back incentives to investors as well. One of our lenders is currently offering 250,000 frequent flyer points or a $1,500 cash back on their home loans and investment loans if you bundle it with other products:
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The following details are normally required on the accountant's letter:
Please enquire online or call us on 1300 889 743 to find out which lenders have the lowest interest rates for low doc loans with an accountant's declaration.
) [789] => stdClass Object ( [post_id] => 63933 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
The major bank dropped its investor rates by 30 basis points to 2.79%.
Property investors welcomed the rate cut as government grants and schemes were steered towards first-home buyers only.
The property investors are returning to a dominant position in the market as the boom is sending prices higher, making it harder for first-time buyers to afford a property.
A study by an international bank in Australia has reinforced this.
The study also revealed that high-net-worth investors in Australia are optimistic about the economy.
For 73% of high-net-worth investors, the impact of a low interest rate on their investment was not of concern to them. They are not focused on generating returns but on preserving their wealth and increasing equity.
Diversifying their portfolio was a top priority for these investors.
On the other end of the spectrum, a report from a consumer advocacy group revealed that more than 55% of Tasmanian households with home loans are facing financial distress.
This comes as the federal government has proposed to remove responsible lending obligations enforced on banks and lenders.
With these obligations, lenders are required to do more to see that their customers can afford their home loan without financial stress.
Mortgage brokers are constantly working in the best interest of their customers as they operate under Best-Interests Duty. This new legal duty does not apply to banks.
Whether you’re a first-home buyer or a seasoned investor, our mortgage brokers are here to help. Call us on 1300 889 743 or enquire online today. ) [790] => stdClass Object ( [post_id] => 31054 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
If you can present a strong case to the lender, you generally have the following available to you:
Can I borrow more than 65% of the business value?
It really depends on your personal financial situation, your past experience and whether you're buying an existing Bakers Delight franchise with good fundamentals.
Not all lenders are the same!
Please call us on 1300 889 743 or complete our free assessment form to find out if you're eligible for a Bakers Delight franchise loan.
) [791] => stdClass Object ( [post_id] => 37938 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => p>CCR or positive credit reporting can be beneficial to some borrowers because it gives you the opportunity to bounce back from a previously negative credit file.
However, it also means that Australians who had previously fallen just outside of getting a poor credit score are now being flagged.
The reason is that under the regime first introduced in March 2014, banks, lenders and credit unions are sharing more customer account information with credit agencies like Equifax (formerly Veda).
Specifically, your credit history now includes:
On top of this, Equifax still continues to collect the following information:
Not all banks and lenders have opted into Comprehensive Credit Reporting!
If you've got a bad credit history, there are specialist lenders and major banks that can help.
That's because not all of them have signed onto CCR.
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our expert mortgage brokers.
) [792] => stdClass Object ( [post_id] => 11805 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
We also have a lot of negotiating power with the 50-plus lenders on our panel. You can call us on 1300 889 743 or enquire for free online, and one of our specialist brokers will talk to you about what the other banks have on offer.
) [793] => stdClass Object ( [post_id] => 32080 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
In order to purchase a 7-Eleven franchise, the lender can't lend against the business value so you need to use a residential or commercial property as security.
There are two ways to get a great deal on your 7-Eleven franchise loan!
Firstly, having experience and a solid business plan can give you a better chance of getting approved and a better chance for us to negotiate a sharp interest on your behalf.
Secondly, by using existing equity in a residential owner occupied or investment property that you own, you can borrow upwards of 100% of the franchise costs!
Call us on 1300 889 743 or complete our free assessment form and discover if you qualify for a 7-Eleven franchise loan.
) [794] => stdClass Object ( [post_id] => 482 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Please call us on 1300 889 743 or enquire online to find out if your property title will be accepted.
) [795] => stdClass Object ( [post_id] => 30426 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Most property investors are professionals who earn high taxable incomes and are in a strong financial situation.
Buying an investment property can be very expensive. Especially if you're borrowing at a high loan to value ratio (LVR).
For instance, an investment loan at 95% LVR is only suitable if you're in a strong financial position and have a good credit history.
Someone with a poor credit history isn't suitable for an investment loan as you won't make a decent return on your investment.
Also, if you're a foreign investor then you may need an approval from the Foreign Investment Review Board (FIRB). You can get more information about this on our FIRB page.
Call us on 1300 889 743 or complete our free online assessment form and speak with one of our brokers about your options.
) [796] => stdClass Object ( [post_id] => 43779 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in our online enquiry form and one of our investment loan specialists will call you back.
We have helped many borrowers qualify for a loan to fund their plans to flip a property, from first-time renovators to seasoned investment professionals.
) [797] => stdClass Object ( [post_id] => 3879 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
The amount you can borrow will depend on your situation:
Please call us on 1300 889 743 or enquire online to discuss your situation with an expert mortgage broker who can help you get approved!
) [798] => stdClass Object ( [post_id] => 417 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
) [799] => stdClass Object ( [post_id] => 31486 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Do you need a residential development loan for your next big investment?
Small developments (up to 4 dwellings)
Medium developments (over 5 dwellings)
Commercial developments
We have strong relationships with lenders that understand your plans to build a duplex, triplex, townhouse, or a larger commercial property.
Call us on 1300 889 743 or complete our free assessment form to find out if we can get you approved.
The last thing you want to do is run out of funds before construction is complete so setting up your loan in a way that supports your needs is crucial.
) [800] => stdClass Object ( [post_id] => 50366 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>At Home Loan Experts, we specialise in connecting you with non-bank lenders who can offer competitive rates, personalised service, and flexible approval criteria.
Whether major banks have turned you away or you’re simply looking for a better deal, our mortgage experts are here to help.
Call us at 1300 889 743 for a free, no-obligation consultation or complete our free online assessment form, and we’ll match you with the right lenders for your needs.
) [801] => stdClass Object ( [post_id] => 45445 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>How can a mortgage broker help?
We can assess your situation and work out how lenders would view your current spending.
In some situations, you may be able to make reasonable reductions to your spending to enable you to borrow more.
Call us on 1300 889 743 or complete our online enquiry form to speak with one of our highly experienced mortgage brokers today.
We have software that can download data from your bank and calculate your basic living expenses for you!
) [802] => stdClass Object ( [post_id] => 47965 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
The average credit score or Equifax Score (previously VedaScore) in Australia is 550, so any score below 500 is considered bad and scores below 400 are considered very bad.
Why is it such a big deal?
A bad credit score is a high-level indication of your credit-worthiness as a borrower and suggests that you are not financially stable.
Lenders assess literally hundreds of applications every day so just seeing this number can see your application stamped as high-risk by the credit assessor.
Of course, your credit score doesn't tell the whole story and some specialist lenders recognise this.
We’ve helped clients who had credit scores as low as 200 and even at -200.
In cases where we couldn't find a solution, we’ve helped them to develop a plan to move towards becoming an eligible borrower over 6-12 months (depending on their situation).
If you’re unsure of your score, try our credit score calculator to identify any potential issues in your credit file.
After that, give us a call on 1300 889 743 or complete our online assessment form to find out how we can help.
) [803] => stdClass Object ( [post_id] => 5143 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Our mortgage brokers are specially trained in financing properties that are a little outside of the box.
We can quickly work out which banks can accept that property as security and work out how much you can borrow.
One way to maximise your borrowing and potentially borrow 105% of the property value is with a guarantor loan.
Please enquire online or call us on 1300 889 743 to find out how we can help you.
) [804] => stdClass Object ( [post_id] => 20918 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
For your home loan application to be processed, you must provide at least two consecutive payslips.
Below are the standard requirements that payslips must meet before they will be accepted by a lender:
Some payslips won’t show annual leave, personal leave and long service leave even though you work full time or part-time. In cases like this, some lenders may require an employment letter confirming that you are in fact employed full time and/or an ATO notice to confirm that you’ve paid tax on the income you’ve earned.
Does your payslip look something like this?
If not, please call us on 1300 889 743 or fill in our free assessment form. One of our mortgage brokers can tell you whether or not you need to provide further income evidence.
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Just like borrowing to buy a standard property, the amount you can borrow and the loan terms available to you depend on the strength of your application.
Call us on 1300 889 743 or complete our free assessment form to discover how much you can borrow.
Why speak to a mortgage broker?
The mortgage brokers at Home Loan Experts understand complex credit scenarios including getting approved for franchise finance.
A number of our senior brokers have commercial credit experience with a number of years in the credit departments of a number of major banks and lenders.
In addition to this, we have almost 40 lenders to choose from and we know the key decision makers.
What does this mean for you?
Because we know exactly what banks are looking for in a Gloria Jean’s franchise loan application, we can highlight the strengths of your situation and mitigate any concerns we know the bank may have by providing strong evidence and reasoning.
With the lender relationships we have in place, we can not only get you approved but we are even in a position to negotiate higher borrowing limits (LVR) and reduced interest rates.
What does the lender want to see?
Franchise loans are typically seen as a higher risk than buying a standard commercial property like a retail shop or an office building.
The trick to getting approved is providing strong evidence of your financial situation and your character as a business owner.
If you’re currently working, you should provide:
Do you need help with refinancing your residential property to cash out equity?
Our mortgage brokers can help you do just that!
Depending on how much equity you have to put towards the purchase, you may be able to borrow up to 100% of the business value.
Complete our free assessment form to discover how much you can borrow for a Gloria Jean’s franchise loan.
Why do I need experience?
Banks can’t simply lend on the value of the Gloria Jean’s brand alone!
Even though you’re starting your own independent coffee shop, you’re still going to be running a business and all of the costs and management requirements that come with it.
It’s for this reason that banks usually ask that applicants have at least 3 years experience working in a similar industry, like hospitality, and in a similar-sized operation.
A senior supervisory or managerial role is preferable.
The more evidence you can provide, the better!
Ask your old boss and staff members for a reference. You may even want to ask your previous employers for their last 2-3 years business activity statements (BAS) and profit and loss (P L) statements that shows revenue increasing year on year.
The bottom line is that bank wants to see that you’ve had success in running a business in the past.
Experience plus a detailed business plan of how you plan to run the franchise over the next five years is at the heart of any good Gloria Jean’s franchise loan application.
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As a Singaporean investor, you can borrow up to:
Our mortgage brokers are experts in non-resident home loans. Please call us on 1300 889 743 or fill in our free assessment form.
) [807] => stdClass Object ( [post_id] => 33349 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Do you want to buy a commercial property for your business or need business finance but don't want to dip into your cash flow?
You may be able to get a 100% commercial loan with a combination of equity in an existing residential property that you own, a guarantor or your own business assets, including client book and equipment.
Golden tip
Remember, you can actually use a combination of all three types of security to borrow up to 100% of the commercial property value.
This can often be complex and time-consuming when it comes to applying with the bank, but a mortgage broker can make it really easy.
We can properly assess your asset position, get a good idea of the value of your business, and come back with an indicative funding approval for a 100% commercial loan.
Call 1300 889 743 or fill in our online enquiry form to speak with one of our specialist mortgage brokers to find out if we can make this happen!
1: Property
The most straightforward way to borrow 100% of the commercial property value is to use existing equity in a property that you own as security for the loan.
Residential property
If you're looking to finance the purchase of a commercial property or you need finance to kick-start your new venture, you can borrow up to 80% of the property value in equity for the purchase.
However, certain professionals like medical practitioners, veterinarians, dentists, accountants and lawyers can actually borrow up to 90% of the property value in equity.
Commercial property
If you're already in business and you own your business premises (freehold), you can actually borrow against your property for any working capital or equipment finance that you need.
For standard commercial properties like warehouses, factories and retail shops, you may be able to borrow anywhere up to 70% of the property value in equity.
For specialised or purpose-built properties like farmland, aged care facilities and child care centres, you may be limited to borrowing up to 50-60% of the property value in equity.
In some cases, the bank may not accept it at all.
You can check out our commercial property loan page for the typical Loan to Value Ratios (LVR) available for the different types of real estate that our lenders can finance.
2: Guarantor
If you don't want to tie up the equity in your property with a commercial loan, you can either ask your parents, a friend or a business partner to act as guarantor for your loan.
Basically, instead of using your property as security, your guarantor can use their property instead.
How much equity can they put up as security?
Your guarantor can provide up to 80% of their property value as equity or up to 60-70% if they're using a commercial property.
3: Business assets
Some lenders will actually do what is known as a balance sheet lend which is basically lending against the value in your business.
The assets that the lender will take as security includes trail books, equipment and vehicles, and even goodwill.
They generally won't lend against the full value of these assets but will consider a percentage instead.
The bank will generally base the valuation of your business on your last two year's balance sheets.
Trail books and client books
For accounting and legal practices, a couple of our lenders will allow you to borrow up to 60% of the gross fee income of the client books.
For rent rolls, you can also borrow up to 60% of the rent roll purchase price (or based on an independent valuation).
Equipment
If you run a business where you use specific machinery, tools, devices or vehicles on a regular basis, you can actually borrow against the value of these assets in what is known as a buy and leaseback.
How does it work?
Let's say you bought an earthmover for your engineering business outright and it's now 2-3 years old.
You can actually sell the asset to the bank, and they will then lease it back to you so you can continue using it exclusively for your business.
Essentially, you're freeing up the capital that's tied up in the fixed asset which gives you more cash flow for your business.
Just be aware that with this type of equipment finance, you miss out on the depreciation and tax benefits since you're no longer the owner of the asset.
As a general rule, banks will do a leaseback lend if the equipment or vehicle is no more than six years old.
When it comes to equipment like cranes and earthmoving machines, they still hold a lot of value even after this 6-year period which means banks may still consider taking it as a security.
Goodwill
Goodwill is often difficult to calculate, but a good accountant will able to do this when it comes time to do your balance sheets.
How much goodwill you can use as equity really depends on the overall strength of the business.
Can I still get a good interest rate?
Yes!
We can help you qualify for the same commercial interest rates as if you borrowing up to 70-80% of the property value.
You can even qualify for the same loan terms.
Call 1300 889 743 or complete our free assessment form today to discover if you qualify for a 100% commercial loan.
) [808] => stdClass Object ( [post_id] => 69916 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Macquarie Bank typically allows medical professionals to borrow up to 90% with no LMI.
Pros
Cons
Why Does Macquarie Not Provide LMI For Other Professionals?
The reason why Macquarie pulled out of offering no-LMI offers to other professionals was due to the risk-weighting of its loan book.
In other words, there is an inherent risk in not charging LMI to someone when they borrow more than 80% of the property value. Therefore to prevent Macquarie Bank from an exposure to a large amount of default risk, the bank made the decision to approve no-LMI loans only for doctors.
We have lenders on our panel that provide no-LMI loans and Home Loan Experts mortgage brokers know which ones can help you. Call us on 1300 889 743 or enquire online for more information.
) [809] => stdClass Object ( [post_id] => 35005 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
As long as you can show that the inheritance is non-refundable:
Using inheritance as a deposit is a no deposit solution that can help you get into the property market much sooner.
Speak with one of our specialist mortgage brokers by calling 1300 889 743 or by filling in our free assessment form today.
) [810] => stdClass Object ( [post_id] => 44901 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
If you want to buy a property which is on a limited Torrens title, please call us on 1300 889 743 or fill our online assessment form and we can help you qualify for a home loan.
) [811] => stdClass Object ( [post_id] => 36006 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Please call us on 1300 889 743 or complete our free assessment form to find out if you qualify for a FIFO worker home loan.
) [812] => stdClass Object ( [post_id] => 44683 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Mortgage insurance is normally charged when you borrow over 80% of the property value, or 80% LVR (Loan to Value Ratio).
However, you can get an LMI waiver with select lenders if you meet the following requirements:
One of our mortgage brokers can tell you if you qualify for an 85% no LMI home loan.
For a $850,000 home loan on a $1 million property, you could save as much as $11,000 in mortgage insurance just by choosing the right lender.
Call us on 1300 889 743 or fill in our free enquiry form today.
) [813] => stdClass Object ( [post_id] => 35472 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Like a standard mortgage, the interest rate offered on the rate tracker home loan is the RBA rate plus a margin. This margin covers the bank's cost of funds and varies between lenders. Once the loan is set up, your mortgage will move by the same percentage as any change made to the official cash rate. So the variable rate itself doesn't match the RBA but instead tracks the percentage change. Depending on your lender, your interest rate will change within two working of an RBA announcement. Call us on 1300 889 743 or complete our free assessment form to find out if you qualify for a rate tracker home loan.) [814] => stdClass Object ( [post_id] => 35000 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => By building a good case and speaking with the right lender, you be eligible for the following:
Call us on 1300 889 743 or fill in our free assessment form to find out if you qualify for no doc equipment finance.
) [816] => stdClass Object ( [post_id] => 1987 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Is a capped rate suitable for you? Please enquire online or call our mortgage brokers on 1300 889 743 to discuss your options.
) [817] => stdClass Object ( [post_id] => 23243 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Physical therapists (physios) may be eligible for:
In 2020, all lenders pulled out of offering 100% no LMI home loans for physiotherapists due to COVID-19. But since then, a few lenders have re-entered the market but are only lending upto 90% of the property value with no LMI.
) [818] => stdClass Object ( [post_id] => 428 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Many investors choose to put down a deposit on a unit, duplex or townhouse before a single brick has even been laid.
These ‘off the plan’ purchases are a popular choice because the investor will often get a significant discount below the market value and the property may appreciate in value before settlement occurs.
Please call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers will help you to get your mortgage approved.
Get to know the risks of buying off the plan below.
) [819] => stdClass Object ( [post_id] => 79842 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>1. Budget wisely
2. Research thoroughly
Arm yourself with information about the areas you're interested in. Understand recent sales, price trends, and local market dynamics. Additionally, Preston recommends:
3. Get professional advice
Assemble a team of homebuying experts. This may include real-estate agents, financial advisers, conveyancers, or mortgage brokers who can evaluate your financial situation. Preston suggests that you may need to consider the following:Nando's is actually one of the strongest brands in the franchise space and is accepted by a few major lenders including the banks.
As a general rule:
It's all about presenting a strong business case to the right bank!
Borrowing the amount you need for the Nando's restaurant you want to buy and at a sharp interest rate is about choosing the right lender.
Once you find the right lender, it's the expertise of a specialist mortgage broker that can ask the right questions from you so they can build a strong case for why you want to buy a Nando's franchise and how you can make the business work.
Call us on 1300 889 743 or complete our free assessment form and discover if you qualify for a Nando's franchise loan.
) [822] => stdClass Object ( [post_id] => 34939 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
With a select few of our lenders, the following generally applies:
Do you qualify for a mortgage using income protection payments?
Call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers about your situation.
) [823] => stdClass Object ( [post_id] => 68514 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Every time you apply for a home loan, you create a hard inquiry on your credit file. So when your loan application is denied, it remains as an inquiry on your credit file.
While one denied home loan application would not drastically lower your credit score, it’s a different story when you apply with one lender after the other.
The more inquiries on your credit file, the lower your credit score. Also, a large number of inquiries in a short time suggests to potential lenders that you’re a risky borrower. This further decreases your chances of approval.
Therefore, it’s important to apply only with a lender that is favourable to your circumstances and is likely to approve your application.
Since choosing the right bank for a home loan is difficult, take the help of a mortgage broker. At Home Loan Experts, we tailor your application so your home loan is approved. Call us on 1300 889 743 or enquire online.
) [824] => stdClass Object ( [post_id] => 3646 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>If you need help with a loan, call us
Please call us on 1300 889 743 or fill in our free assessment form and our staff will help you to get approved for a home loan.
Acceptable borrowers
Excluded borrowers
Case by case borrowers
The following aren't considered to be traditional borrowers but they can still get a home loan by building a strong case with the right lender:
Loans to companies and trusts
For company loans, all directors and shareholders (excluding 'notional directors') must provide unconditional joint and several personal guarantees.
In the case of a trust, where the trustee is a company, directors and shareholders are required to provide unconditional joint and several guarantees, as mentioned above.
The trustee of the trust must always be the borrower in its own right and as trustee for the trust. E.g. Smith & Co Pty Ltd IIOR & ATF The Smith Family Trust.
This requirement applies to both family, discretionary and unit trusts.
Hybrid trusts aren't generally accepted for home loan applications (some exceptions may apply).
In some cases, the directors of the trustee company may be the borrower, whilst the trust is the mortgagor.
These applications are assessed on their merits.
Borrowers of convenience
A borrower of convenience is defined as a borrower that's added to the loan application to provide serviceability and/or security but doesn't receive a tangible benefit from the loan transaction.
Borrowers must have a beneficial interest in the loan transaction either by way of joint ownership of the security or if the borrowers are in a de facto or marital relationship.
It's not acceptable for a person to be joined in a loan simply to provide income support for servicing or to provide added security for another party to purchase a property.
The exception to this is with guarantor home loan applications.
Non-residents
For the purposes of this policy, a non-resident is deemed to be any person without permanent residency status in Australia, and/or any person who resides and is employed in another country.
Australian citizens living and working overseas (Australian expats) are considered residents of Australia so they're not treated as non-resident by the banks.
Similarly, New Zealand citizens living and working in New Zealand or permanent residents of New Zealand are considered residents of Australia.
The maximum LVR and Loan Amount that you can borrow:
Borrowers must be high net worth or with net assets in excess of $500,000.
Where one borrower is a citizen or permanent resident of Australia or New Zealand, and the other borrower is a non-resident as per the above definition, any proposal will be assessed under normal policy and not under the non-resident policy above.
In situations where non-rental income can't be adequately verified, 100% of the gross market rental income for the security property must be sufficient to cover the proposed mortgage loan instalments
This is calculated at the current assessment interest rate.
Where required, written evidence that Foreign Investment Review Board approval has been granted, must be supplied.
Guarantors
Guarantors are required to complete a full application form including personal details, financial position, employment details and sign the lender's Privacy Act declaration.
Where guarantor income is required to service the proposed debt, standard employment and income policies apply, including income and employment verification requirements.
For family pledge home loans, the guarantor can't be a pensioner using their owner occupied property as security for the loan.
Note that some lenders don't have this requirement.
Savings
Borrowers who have saved a deposit are generally better prepared to deal with any difficult financial circumstances that may arise.
They have proven their ability to manage their finances responsibly and live within their means.
Genuine savings needs to be evidenced in the following circumstances:
Note that some lenders require genuine savings for loans above 80% LVR. Please refer to your mortgage broker for the specific policies of a particular lender.
Genuine Savings
Must be held in the borrower's name and include:
The eligibility criteria includes:
Simply complete our free assessment form or call us directly on 1300 889 743 and one of our low deposit specialists will let you know if you qualify.
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If you are a foreign diplomat who is temporarily residing in Australia, your ability to borrow depends on your visa type:
Guidelines will differ depending on your circumstances and visa type. If you are paid in a foreign currency then allowances may be made for exchange rate fluctuations. To find out if you can borrow the maximum loan to value ratio (LVR), please call us on 1300 889 743 or enquire online today.
Please note that there may be restrictions on the types of properties that you can buy. You may also be required to seek FIRB approval before qualifying for a home loan.
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Most lenders require you to provide your two most recent payslips and 2 years group certificates if you’ve been working for at least 3 months.
However, every lender has different requirements.
To discuss your situation with an expert mortgage broker, please enquire online or call us on 1300 889 743.
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One member of Home Loan Experts’ panel of lenders accepts monthly LMI premiums until the property’s loan-to-value ratio (LVR) drops below 80%.
More lenders will probably start to offer this option, as many share a common LMI provider, Genworth.
Call us on 1300 889 743 or complete our online enquiry form to find out how much we can save you on LMI.
) [829] => stdClass Object ( [post_id] => 31195 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Work out what your total repayments really are over the life of your home loan. The answer may surprise you! We can give you more clarity around the actual costs of your loan. For a free quote, give us a call on 1300 889 743 or enquire online today.
) [830] => stdClass Object ( [post_id] => 47045 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
There are only a few lenders that will refinance an SMSF loan, and you need to meet strict approval requirements:
Many lenders will only approve SMSF loans or refinance applications through commercial and business lending, even if you are refinancing a residential property.
This means that each lender charges very different interest rates.
Please call us on 1300 889 743 or complete our free assessment form to discover if you are eligible to refinance your SMSF loan.
) [831] => stdClass Object ( [post_id] => 949 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>We can help you to borrow:
Low doc hybrid trust loans are only available from a few lenders. Please discuss this with us before you begin looking to buy a property.
Some lenders have restrictions on lending to hybrid trusts with a company as the trustee, but can accept trusts with a personal trustee.
Please contact us on 1300 889 743 or enquire online and one of our mortgage brokers will call you to discuss your situation.
) [832] => stdClass Object ( [post_id] => 60885 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => With the economy showing steady signs of a recovery, some of the temporary documentation requirements introduced in 2020 for self-employed borrowers are no longer required. As a result, the process of applying for a loan is more straightforward than ever. This is an amazing opportunity for you to get in touch with the brokers to see if refinancing your current home loan can get you lower repayments and competitive interest rates. Talk to us on 1300 889 743 or complete our free assessment form to obtain a quote from a lender that will be best suit your situation. ) [833] => stdClass Object ( [post_id] => 47951 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Choosing the right business equipment financing for you can be tricky.
Depending on your business situation and goals, you can choose from:
It's recommended that you speak with your accountant or an independent tax advisor before you make any decisions.
We have mortgage brokers that specialise in equipment financing loans.
Call us on 1300 889 743 or fill in our free online assessment form to discover if you qualify.
) [834] => stdClass Object ( [post_id] => 68156 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => The answer is in how you make an offer on a property. Most of what you can do to improve your chances of securing a property must take place before you submit an offer. Here are some steps you can take to show yourself to be a serious buyer:1.Get Pre-approval
Gaining a pre-approval from your lender is the first and foremost step you can take. This tells you your budget and helps narrow down the type of property you can purchase. Securing a pre-approval also makes you attractive to sellers, as it signals that you are serious. To learn more about pre-approval, contact our specialist mortgage brokers at 1300 889 743 or fill in our online assessment form and we will contact you.2.Research The Property
One of the most common reasons for an unsuccessful offer letter is a lack of research. Always do research. Look at the listing prices of similar properties within the area to evaluate what’s a fair price. This way, you can strategise your offer price.3.Emotional Aspect
As a first home buyer, you can make your offer letter stronger if you correctly gauge the seller’s motivations. Once you know them, you’ll know the kind of offer the seller would find most attractive. For example, if the seller is looking to part with a family house that has been passed on for generations, they might be more inclined to sell to someone with a family to raise.) [835] => stdClass Object ( [post_id] => 35497 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
As an accredited franchise with a couple of our lenders, you may qualify for the following:
Why speak to us?
We're specialists in franchise loans and know which lenders will help you finance an Autobarn franchise.
Other than negotiating a sharp interest rate on your behalf, we can also help you to borrow at the maximum Loan to Value Ratio (LVR) in order to maximise your cash flow.
Discover if you qualify by calling 1300 889 743 or by filling in our free assessment form today.
) [836] => stdClass Object ( [post_id] => 78510 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Looking for expert guidance on home loans or have questions related to the process? Don't hesitate to contact us at Home Loan Experts! We are here to assist you every step of the way. Call us on 1300 889 743 or enquire online for free and let us help you achieve your dream of owning a home.
) [837] => stdClass Object ( [post_id] => 1352 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Yes. As long as the lender does not require genuine savings, a gift can be used as a deposit. With genuine savings, if you have held the gift in your account for at least three months some lenders will consider it genuine savings.
If your deposit comes from a gift, please call us on 1300 889 743 because the approval criteria is more complicated than it is for a standard home loan.
) [838] => stdClass Object ( [post_id] => 33688 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
You can discuss your situation and loan needs with one of our Australian expat home loan specialists by calling us on 1300 889 743 (+61 2 9194 1700 if you're overseas) or by completing our free online assessment form today.
) [839] => stdClass Object ( [post_id] => 9506 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
How we help you can depend largely on your income type.
In most cases, internet marketers receive a large portion of their income from overseas. This is classed as foreign income and considered high risk by most lenders.
This means that you are likely to have your home loan application declined.
If you are able to prove your income by providing two years of Australian tax returns then you can borrow up to 95% of the property value.
There are other ways of verifying your income which can allow you to borrow up to 80% of the property value. These can include:
Ultimately the nature of your income will determine how much the bank will be willing to approve.
With each home loan, you must meet the policy lending criteria. This often includes a clear credit history and you may need to show genuine savings. You must also meet all other standard lending criteria.
To find out how we can help, contact us on 1300 889 743 or enquire online today!
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The amount that you will be eligible to borrow depends on the consortium that you use:
Do you need help applying for a loan to purchase an NRAS property?
Please call us on 1300 889 743 or enquire online and one of our expert mortgage brokers will call you to discuss your options.
) [841] => stdClass Object ( [post_id] => 47931 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
You can borrow up to 100% of the vehicle value and up to 50% for business cash flow purposes with select lenders.
Generally speaking, you need to meet the following criteria:
What loan features are available?
Call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify for business vehicle finance.
) [842] => stdClass Object ( [post_id] => 27429 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Since you’re borrowing more than 80% of the purchase price (80% Loan To Value Ratio or LVR), lenders will want to see you meet specific lending criteria:
These are just general guidelines for qualifying for a 15% deposit mortgage so please call one of our mortgage brokers on 1300 889 743 or complete our free assessment form and we’ll let you know how we can help you.
) [843] => stdClass Object ( [post_id] => 45034 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
You can borrow up to:
Competitive professional package and basic loan discounts are available.
Some lenders won't accept group title properties but not all lenders are the same!
We can help you build a strong case with the right lender so please call us on 1300 889 743 or fill in our assessment form to find out how we can help you.
) [844] => stdClass Object ( [post_id] => 13815 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Do you actually need to increase your credit score?
Some Australian lenders do not use credit scoring to assess mortgage applications!
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will let you know if you qualify for a home loan.
) [845] => stdClass Object ( [post_id] => 30610 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>While 80% of the property value will be secured against the property that you're buying, the remaining 20% plus the costs of completing the purchase (typically 5% and relating to such costs as stamp duty, legal fees and mortgage transfer fees) will be secured against equity by your parents' property.
You can read more about this on the guarantor loan page.
Your parents will need to complete a signed declaration stating that they will help you with your repayments should you be unable to do so.
Call us on 1300 889 743 or fill in our online enquiry form and we can let you know if you qualify for an income guarantee home loan and whether it's the right no deposit solution for you.
) [846] => stdClass Object ( [post_id] => 46713 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in our free enquiry form to discover if you qualify for a law firm partner home loan.
) [847] => stdClass Object ( [post_id] => 35730 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The most common type of work visa application we receive is for professionals who are on a 457 visa.
Since March 2018, the 457 visa scheme was completely replaced by the Temporary Skill Shortage (TSS) scheme.
Slightly different lending rules apply to applicants on a TSS working visa so please see the TSS visa home loan page for more information.
Please call us on 1300 889 743 or fill in our free assessment form to have an obligation-free discussion with one of our mortgage brokers who specialises in lending to foreign citizens living in Australia.
Do I qualify for a 457 home loan?
Not everybody on a 457 visa is eligible. The lending policy is complicated and varies from lender to lender.
You're likely to get approved if:
It isn't necessary to have an Australian credit history or to be buying a property with an Australian citizen.
We can even help you if you're currently on a bridging visa, on the path to getting a permanent resident visa.
How can I borrow more than 80%?
If you've spoken to another mortgage broker or a bank officer already then you may have been told that you're only eligible to borrow up to 80% of the property value.
Not all mortgage brokers have experience dealing with temporary residents and they may not know which lenders can help.
We have made special arrangements with some of our lenders to allow for loans of up to 90% of the property value for work visa holders and temporary Australian residents who are working in Australia.
This is designed to help you buy a home with a smaller deposit. If you're borrowing 90% then you’ll typically need around 18% of the purchase price to cover the deposit, stamp duty (state government tax) and Lenders Mortgage Insurance (LMI), a one off fee charged usually when borrowing over 80% of the property value.
You don't need to be married to, or in a de facto relationship with, an Australian citizen or permanent resident. However, if your partner is an Australian citizen then more of our lenders can approve your mortgage.
Please call us on 1300 889 743 or complete our free assessment form to discuss your situation with one of our specialist mortgage brokers. They can let you know if you’re eligible to borrow up to 95% of the property value!
Are first home benefits available?
No, you cannot apply for the First Home Owners Grant (FHOG) and other government benefits unless you’re buying jointly with an Australian citizen or permanent resident.
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Yes, owner-occupiers can refinance to an interest only home loan.
To qualify for a refinance to interest only:
Would you like some more help to see if you qualify for an interest-only refinance? Our mortgage brokers are here to help. Call us at 1300 889 743 or fill in our free assessment form.
) [849] => stdClass Object ( [post_id] => 436 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Note: You may be able to borrow up to 95% for a converted warehouse on a case by case basis. The banks favour apartments where the conversion has been fully completed and that are in a good location with strong market demand.
Do you need help financing your purchase? Our mortgage brokers know which banks can approve a loan for the property that you are buying. Please call us on 1300 889 743 or enquire online to find out how we can help you.
) [850] => stdClass Object ( [post_id] => 61103 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
We've created a first home buyers guide to help you achieve your dream of homeownership. The guide covers the entire home buying journey and simplifies the process of buying your first home.
Our guide to buying your first home will give you a framework and a series of actionable steps that you can take when buying your first home while avoiding costly mistakes.
You can also save up to $33,000 in stamp duty as a first home buyer in NSW. Find out how much you can save by using our stamp duty calculator.
Speak with one of our award-winning mortgage brokers by giving us a call on 1300 889 743 or fill in our assessment form and buy your first property.
) [851] => stdClass Object ( [post_id] => 32169 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Bear in mind that these are just general guidelines from a few of our lenders.
Like other commercial loans, getting a great deal and borrowing the amount you need for your business is about building a strong case with the right lender.
Call us on 1300 889 743 or complete our free assessment form and discover if you qualify for an Australia Post franchise loan.
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Yes, it’s all great news for sellers. But there are still ways to put yourself in an advantageous position as a buyer. Here are some steps you can take to come out ahead when you’re looking to buy a house in a hot market:
1. Get Your Pre-Approval Ready
Avoid missing out on your dream listing while applying for a mortgage. A pre-approval generally signals to the seller you’re serious about securing the property. Once your pre-approval is verified, you know approximately how much you can borrow, thus you can feel confident making offers. Learn more about how to apply for a pre-approval.
2. Find The Right Buyer's Agent
A hot market makes a buyer’s agent a necessity. A buyer’s agent alerts you to new listings and will even do initial inspections before bringing you along to look at only the best options. First-home buyers often find the process of securing a property complex. A buyer’s agent will make it easier by directing you to trusted lenders and providing you with in-depth knowledge of the property market. If you would like help securing your first property, then please call us on 1300 889 743 or complete our free assessment form today.
3. Check For Waived LMI And Other Associated Costs
One of the biggest hindrances to buying a property is the associated costs beyond the mortgage repayments. Getting a break on items such as Lenders Mortgage Insurance can help. You may qualify for waived LMI if you are a first-time buyer by applying for a nationwide scheme designed to help new property owners enter the market with deposits as little as 5% without paying LMI. It is important to check offers from various lenders to minimise your costs.
4. Do Your Own Research and Evaluation
Don’t get caught up in the frenzy. Remember, a property evaluation is only a starting point. Take your time and do thorough market research within the area of the properties that pique your interest. Be sure to consider the location, look for market movements, and check auction clearance rates and discounts to asking prices at sale. Perhaps most important of all, learn the going prices from local agents, to determine a fair market value. Home Loan Experts can provide you with this data and lists of local property sales. Please complete our free assessment form to find out how else we can help you find the best deal on a home loan.
5. Contract Review
Remember that an informed decision is your greatest asset. With the help of your agent or a mortgage broker, review the contract early so that when entering negotiations you can make a better decision.
6. Patience And Persistence
Take the time to evaluate your needs and wants. Making a large investment without due diligence on your part would be a potentially costly mistake. With the help of a broker, you can make wise decisions, even in a highly competitive market. Contact one of our mortgage specialists at 1300 889 743 or enquire online for a full assessment.
) [853] => stdClass Object ( [post_id] => 422 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The majority of lenders will lend up to 90% of the property value for houses that are in towns with more than 10,000 people.
Your Loan to Value (LVR) will be restricted for smaller towns or outlying suburbs.
Low doc loans are often restricted even to larger towns of 15,000 or 20,000 people.
One of our lenders will accept any property under 50 hectares no matter the town, suburb, location or postcode.
Using a guarantor is one way to get around LVR restrictions because you don't need a deposit and can borrow the full costs of the purchase.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will help you to get your mortgage approved!
) [854] => stdClass Object ( [post_id] => 64684 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => You can almost access $70,000 to buy your first home in WA with the State and Federal grants. We can assist you with the home application and find out if you qualify for these incentives. We have the best mortgage brokers in Perth that can make the process of buying a property smoothly. Call us on 1300 889 743 or fill in our free no-obligation assessment today. ) [855] => stdClass Object ( [post_id] => 41836 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Don't commit to buy a property unless you have formal approval from a lender.
If you don’t have formal approval, you’re taking a risk and, as a mortgage broker, there’s not much we can do to help you if later it turns out that you aren’t eligible for a loan.
If you decide to break this rule then you do so at your own risk.
Call us on 1300 889 743 or complete our free assessment form so we can help you get a pre-approval before you commit to a purchase.
) [856] => stdClass Object ( [post_id] => 72161 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Here's how a mortgage broker can help you with rising rates:Apart from altering your home loan, there are simple steps you can take to prepare for a rate rise. Make changes to your lifestyle and pre-emptively cut unnecessary expenses. Do not live beyond your means, as you may risk defaulting on your repayments.
At Home Loan Experts, our mortgage brokers can prepare you for a rate rise by refinancing or making changes to your home loan. Call us on 1300 889 743 or enquire online today.
) [857] => stdClass Object ( [post_id] => 32185 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Some banks recognise Boost Juice's strong global brand and robust franchise model and are willing to offer competitive franchise loan terms for a strong application.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our Boost Juice franchise loan specialists.
Like other commercial loans, franchise finance is negotiable depending on the strength of your application.
If you can show that you have strong business experience with the financial stability to input your own funds into the business, the better the discounts available to you.
) [858] => stdClass Object ( [post_id] => 45476 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Did you know that some lenders have free 60 day rate lock?
Call our mortgage brokers on 1300 889 743, enquire online on our website or have a look at our market leading interest rates.
How does it work?
Most people shop around for a great loan package with low interest rates, before they commit to a mortgage. Yet they don't know that they actually get the interest rate on offer when their loan is advanced, not the rate at the time that they apply.
For example, you see that ABC Bank has a fixed rate home loan at 5%. Before settlement, this rate could rise to 5.3% or fall to 4.7%. If you didn't choose to rate lock your loan then you will receive the interest rate on the day that your loan is advanced.
With rate lock, if the rate dropped to 4.7% then most lenders would allow you to have the lower rate, but if rates increased to 5.3% then you would be protected and would pay only 5%.
Be careful as some lenders do not allow you to benefit if the interest rate falls before settlement, they only protect you if the rate increases. So choose your lender carefully.
Here’s a general calculation of how Rate Lock works:Let’s assume that a borrower is currently applying for a $600,000 home loan, with a 3-year fixed-rate at an interest of 2.29%. As the interest rate increases to 2.69%, the borrower would have been better off paying an assumed rate lock fee of $375 while locking the rate at 2.29%.
) [860] => stdClass Object ( [post_id] => 20508 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Normally, if you borrow more than 80% of the property value then the lender will charge you a fee known as LMI.
This can be quite expensive and works out to be around $24,000 when borrowing 95% of the value of a $1,000,000 property.
Did you know that as a vet, you may qualify for a no deposit LMI waiver?
Select lenders can consider waiving the cost of Lenders Mortgage Insurance (LMI) for vets, saving you thousands of dollars.
By not having to pay a deposit or the mortgage insurance premium, you'll be able to more easily buy multiple investment properties or buy the dream home you've always wanted.
Find out if you qualify for veterinarn home loan discounts by calling 1300 889 743 or by filling in our free assessment form today.
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Basic application information
Here is a list of documents you'll need to provide for all types of loans:Purchases
Unless you have already been approved, applicants must provide a copy of the contract of sale. What you need to provide varies between states:Lenders consider someone in temporary or seasonal employment a higher risk than someone in a full-time, permanent position.
Seasonal workers will need to establish a reliable income with evidence that they’ve worked for the same employer for the past two years, even if it’s for only part of the year. A letter from your employer that indicates you’ll be hired the next season will be required.
Seasonal or temporary workers with a stable situation usually have an excellent chance of approval. Unfortunately, if we can’t establish a stable income, then there’s little chance of approval.
To verify your income, you’ll need to provide:
Our expert mortgage brokers specialise in unusual employment home loans. Call us on 1300 889 743 or fill in our free online assessment form to find out if you qualify for a home loan.
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Yes! There are lenders who will use 100% of your income if your field of work is classified as an Essential Service.
For everyone else:
100% overtime for essential service professionals
Please enquire online or contact us on 1300 889 743 to talk to a mortgage broker about your overtime income.
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We believe La Trobe is an excellent choice for construction loans with a bad credit history or who are in a remote location.
They're also really good at some strange niches such as a SMSF loan combined with a low doc loan or a guarantor loan where the parents are actually lending the deposit instead of using their home as security for a 2nd mortgage.
Their bad credit commercial loans and low doc commercial loans often have quite high rates but they give people an option that often isn't available from other lenders.
The key to specialist lending is to understand that each specialist lender has their preferred customers and to match the right customer to the right lender. A great mortgage broker will also have a plan to get you back to prime interest rate as quickly as possible.
We're experts in specialist lending. Feel free to call us on 1300 889 743 or complete our free assessment form online to find out how we can help.
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Liberty has a range of home loans which includes the Liberty Free, Liberty Sharp, Liberty Star, Liberty Nova as well as some niche products such as a No Doc Loan.
The pricing of these loans is a bit confusing for most people as it varies depending on whether your credit history is clear or if it's less than perfect, what income evidence you can provide and how big your deposit is.
What this means is that in most cases we use a large table or software to calculate your interest rate with Liberty. That's why you won't see many interest rates published on their website.
Talk to one of our expert mortgage brokers and we can give you an interest rate quote for Liberty as well as other specialist lenders. Call us on 1300 889 743 or complete our free assessment form online.
) [866] => stdClass Object ( [post_id] => 33181 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
NAB Broker used to be called Homeside and is only accessible via mortgage brokers. It's now been rebranded and has different loan products and even has different lending policy!
NAB is available through both mortgage brokers and NAB branch lenders. It uses QBE as its mortgage insurer and has totally different products and interest rates.
Each has their own strengths and weaknesses. You'd go to NAB for an owner builder loan but you'd go to NAB Broker if you're looking for a low rate for someone with a larger deposit or a lot of equity.
As crazy as it sounds, sometimes our mortgage brokers get a loan approved through NAB Broker that a branch lender couldn't get approved. Or we get a special interest rate that the branch couldn't access. It may not make much sense as they use the same brand, but remember NAB Broker is actually a different lender .
Not sure if you should use NAB or NAB Broker? Call us on 1300 889 743 or complete our free assessment form online and we'll compare both options for you.
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Subject to your length of service with the ADF, you may be eligible to:
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for these home loan discounts exclusive to members of the ADF.
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Convenience
They operate from anywhere in Australia and they're available after hours.
This is helpful to borrowers who live in rural locations, interstate and even overseas.
It's also helpful to those who can't travel due to a disability or those who simply don't have the time because they're busy with work or looking after children.
Save time
You don't have to waste time travelling to meet up for appointments.
On top of that, the best online mortgage brokers use state-of-the-art Client Management Systems (CMS), calculators and home loan comparison tools.
That means that they can quickly assess you over the phone, or based on the information you provide in a short online enquiry form.
They can then quickly come back to you with options from their panel of lenders via an email generated from their CMS that spells out the full costs of each home loan option.
Not all online mortgage brokers are the same!
Some brokerages will only deal with clients over the phone or via email but you're always welcome to schedule an appointment at our office. Alternatively, we can come to you at a time and day that suits you.
Please call us on 1300 889 743 (+61 2 9194 1700 if you’re overseas) or complete our free assessment form to speak with one of our specialist online mortgage brokers about your home loan needs.
) [869] => stdClass Object ( [post_id] => 13842 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>If you qualify, then call our mortgage brokers on 1300 889 743 or enquire online and we'll help you to get approved!
) [870] => stdClass Object ( [post_id] => 1496 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>As a general rule, you will need to pay LMI if you are borrowing more than 80% of the property value. For self-employed individuals applying for a low-doc loan due to an inability to prove income, LMI is necessary if you’re borrowing more than 60% of the property’s value. Your lender or bank arranges the mortgage insurance during your loan approval process, so you won’t have to deal with additional paperwork.
Please call us on 1300 889 743 or enquire online for free and we can tell you if LMI can be waived for your mortgage!
The LMI premium will be deducted from your loan funds when they are advanced. For example, if you borrow $500,000 and the LMI premium is $5,000, you will receive $495,000 when the loan is disbursed. The exception is if you choose to "capitalise" the LMI premium, adding its cost to your mortgage. This doesn’t eliminate the LMI but allows you to avoid paying it upfront. The LMI premium is a one-time fee and doesn’t need to be paid annually like other types of insurance.
How LMI Helps Borrowers Buy A Home
LMI enables borrowers to purchase a home with a smaller deposit, reducing the upfront cost and allowing quicker access to property ownership. It’s particularly beneficial for first-time homebuyers and those with less in savings. However, it is crucial to understand the cost implications and explore whether there are ways you can avoid this expense.
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Some lenders will restrict your LVR to 80% of the property value but some lenders are willing to lend more.
To find out more about townhouse loans and whether you qualify, call 1300 889 743 or complete our free assessment form today.
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Eligible professional athletes may qualify for the following:
Read on to find out if you qualify or call us on 1300 889 743 to speak with one of our mortgage brokers.
Alternatively, you can complete our online enquiry form and we'll get back to you.
) [873] => stdClass Object ( [post_id] => 34941 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Depending on your overall situation, you may qualify for the following:
Call us on 1300 889 743 or complete our free assessment form and discover if you can get approved for a home loan with workers' compensation.
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The lender banks are speeding up on getting cheaper fixed rate home loans settled. It is likely they play safe with the applications and reject complicated cases directly.
In such a case, having a mortgage broker who can ensure your application is good enough, is essential. And in case your case is intricate, the broker can work out loopholes and solutions for your case.
Also, brokers directly liaise with the business development managers of lender banks. So, they can get your loan approved by convincing them to take a common-sense approach for your case.
Our expert mortgage brokers can help you get the cheapest interest rates available. Call 1300 889 743 or fill in our free enquiry form today.
) [875] => stdClass Object ( [post_id] => 35478 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>If you have the retail experience and business acumen to run a successful, we can help you to build a strong franchise loan application.
By choosing the right lender, you may qualify for the following:
Use your residential property to borrow up to 100% of the franchise costs!
If you don't have a deposit or would like to have some extra cash flow in the first crucial months of operations, this can be a great option.
You need the equity though so rather than going to a bank directly and possibly get declined, speak to a specialist mortgage broker first.
Please call us on 1300 889 743 or complete our free assessment form to find out if you’re eligible for a Telstra shop franchise loan.
) [876] => stdClass Object ( [post_id] => 47807 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Call us on 1300 889 743 or fill in our free assessment form and you'll be put in touch with one of our experienced business loan specialists.
We can discuss your equipment finance needs and recommend low doc solutions that are right for you.
) [877] => stdClass Object ( [post_id] => 80464 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Here’s a list of the top five investment strategies high-net-worth individuals use:
1. Maximising Tax Benefits Through Negative Gearing
Negative gearing involves owning and maintaining a property where the associated expenses exceed the rental income it generates. Savvy investors and high-net-worth clients favour this strategy for several reasons:
2. Expanding Investment Exposure With Margin Loans
Margin loans are secured loans that allow borrowers to invest in shares, managed funds, and other securities, with the investments themselves serving as collateral. High-net-worth clients benefit from margin loans in two key ways:
3. Minimising Personal Debts
High-net-worth individuals prioritise settling high-interest debts such as credit cards and personal loans, which do not offer tax advantages. Instead, they focus on acquiring debt that contributes to wealth growth or income generation, such as mortgages or loans for purchasing income-generating assets like shares and properties. This approach optimises funds for investment, reduces interest payments, and facilitates a more balanced long-term financial plan.
4. Buying In Trusts
igh-net-worth individuals often opt to purchase property through trusts due to the greater control they provide. As trustees, they exercise substantial control over the property and its distribution after their passing. Trusts offer several advantages, including:
5. Using Leverage To Buy Properties
High-net-worth individuals adopt a strategic approach of leveraging their deposit and equity when purchasing properties. Instead of using all their savings as an upfront deposit for a single property, they spread their wealth across multiple properties, generating multiple cashflow streams and expanding their real-estate investment portfolio. The benefits include:
We’re Here To Help!
Whether you're a high-net-worth client or an aspiring investor, the lessons drawn from these strategies offer valuable insights for anyone seeking financial success and prosperity. As your mortgage broker, we’re here to help you. Call us on 1300 889 743 or enquire online for free today.
) [878] => stdClass Object ( [post_id] => 35278 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Capitalise the LMI
A 3% deposit home loan is actually a 95% home loan with the cost of Lenders Mortgage Insurance (LMI) added or capitalised on top of the loan
For a 95% home loan on a $600,000 property, you're potentially looking at upwards of $28,000 in LMI!
By adding this fee on to the loan, you avoid having to pay this cost upfront.
So if your home loan was $570,000, the lender would add $28,000, bringing the total loan amount to $598,000.
The beauty of a 3% deposit home loan is that:
You'll still be left with a 2% shortfall!
Generally speaking, you'll still be left with a 2% shortfall despite capitalising LMI.
This shortfall is for other associated property purchasing costs such as stamp duty and legal fees.
If you can't cover these extra costs, there are 3 options available to you:
Speak to a mortgage broker about a 3% deposit home loan by calling 1300 889 743 or by completing this free assessment form today.
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Banks believe that heritage listed properties do not always appeal to the general market and, as a result, may take longer to sell. Because of this extended time to sell the property, banks consider them to be a higher risk than a normal property.
There is plenty of debate surrounding the suitability of heritage listed properties as security for a mortgage. As a result of this the lending guidelines for home loans are usually ambiguous.
We can often convince lenders to bend their lending guidelines for historical or desirable properties that are in high demand.
Would you like our help to finance your purchase? We know which lenders can help and which of them offer the most competitive interest rates.
Please call our mortgage brokers on 1300 889 743 or enquire online and we will help you to apply for a loan to buy a heritage listed house or unit.
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If you have a property that uses bore water, some lenders allow you to borrow up to:
Please call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers will find the right lender and loan product for your situation.
) [881] => stdClass Object ( [post_id] => 70374 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Please contact your lender's financial relief or hardship department if you have been affected by the floods and require assistance.
Our customer care department can also help you find out what assistance is available from your lender and how you can apply. Contact us by dialling 1300 889 743.
) [882] => stdClass Object ( [post_id] => 28361 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Recent regulatory changes have seen banks slow down on investment lending meaning borrowing more than 80% of the purchase price or Loan to Value Ratio (LVR) is more challenging than ever.
Despite this, there are banks and lenders who can help you borrow up to 85% LVR.
The great news is that if you have a 15% deposit, you may even be able to qualify for interest rate discounts and waived Lenders Mortgage Insurance (LMI).
How Much Of An Interest Rate Discount Will I Get?
Compared with a 90% investment loan, more lenders are likely to offer interest rate discounts on an 85% loan.
As has always been the case, and even more so since the slowdown in investment lending, investment loans come with a higher interest rate than a standard owner-occupied home loan.
Despite this, having a 15% deposit, in addition to you meeting additional requirements, may see you qualify for an interest rate discount.
These additional lender requirements generally include having complete documentation of all your income and assets (full doc financials), a stable housing history meaning you must not have moved house on a regular basis and evidence of genuine savings.
Even if you don’t qualify for a reduced interest rate right now, you can refinance your 85% investment loan in 2 to 3 years at a more competitive interest rate.
How To Qualify For Lmi Discounts Or Waivers
Did you know that a select few major banks offer LMI discounts and waivers for 85% investment loans?
To qualify for waived LMI or even a no LMI investment loan, you’ll need to meet the following requirements:
Each bank has their own standard variable interest rate but did you know that each mortgage insurer has their own premium rates?
Investors, and any borrower for that matter, don't really look at LMI rates when shopping for a home loan but by comparing them, you can save thousands of dollars on your 85% investment mortgage!
It’s important to note that most lenders don’t publish their LMI rates to the public so it helps to work with a mortgage broker who can compare LMI providers and lenders for you.
Our mortgage brokers know which mortgage insurers offer competitive LMI rates so call us on 1300 889 743 or complete our free assessment form.
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We can complete a full assessment of your situation and work out what you need to do to get your mortgage approved.
In other words, you get the expert assessment of a mortgage broker and, as long as you end up buying a property, our fee is refunded so there is no cost to you at all!
Call us on 1300 889 743 or fill in our free assessment form if you would like us to complete an assessment of your situation.
) [884] => stdClass Object ( [post_id] => 30625 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Our mortgage brokers specialise in mortgages for Australians in France. They know which lenders are more lenient and flexible towards Aussie expats.
You can call us on 1300 889 743 (+61 2 9194 1700 if you're overseas) or complete our free online assessment form to speak with one of our mortgage brokers.
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The Australian and New Zealand Banking Group (ANZ) is one of the top four banks in Australia and has been a leader in the Australian mortgage industry for decades. This makes it easy for customers to trust the bank’s products. That’s why thousands of customers attempt to refinance with ANZ every year.
Excellent For Existing Customers
ANZ offers low-risk home loans and good deals on refinancing home loans, especially for existing customers.
At Home Loan Experts, we have a good relationship with the bank, and our mortgage brokers can sometimes negotiate a better refinance deal than advertised. To learn more, please give us a call on 1300 889 743 or fill in our free assessment form.
ANZ Refinance Cashback Offer
You can get up to $3,000 cashback when refinancing with ANZ. The rebate is valid for all home loan refinancing applications submitted by November 7, 2021.
) [886] => stdClass Object ( [post_id] => 68414 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>If you want less competition, less stress and a better deal on your dream home, then December might be a good time to buy. At Home Loan Experts, our mortgage brokers will help you get your finances in order so you can settle before the holidays start. Call us on 1300 889 743 or enquire online.
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With one of our lenders, you’ll be restricted to buying an existing store only but some of our other lenders may finance a new store if you can provide a solid business plan along with evidence of previous managerial skills in the same line of work.
As a general rule:
Call us on 1300 889 743 or complete our free assessment form to find out more about a Muffin Break franchise loan and whether you qualify.
) [888] => stdClass Object ( [post_id] => 45377 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>A common mistake that borrowers make is to overestimate their monthly expenditure because they're unusure of how much they actually spend.
This seemingly responsible approach can actually be detriment to your home loan borrowing power so we advise our customers not add the typical buffer of 20% for such living expenses as recreation and extertainment, and spending on luxury items.
The reason is that these expenses can fluctuate month on month so we find that the better approach is to be as accurate as possible:
Our mortgage brokers have software that can download data from your bank and calculate your basic living expenses for you.
Please call us on 1300 889 743 or fill in our online enquiry form and we can let you know if your living expenses may stop you from borrowing.
) [889] => stdClass Object ( [post_id] => 13983 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Are you wondering whether your property will be accepted by the banks?
Call us on 1300 889 743, or enquire online to see which one of our lenders will be best suited to your situation.
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Can I get approved?
Do you qualify for a low doc loan with bad credit?
If you meet this basic lending criteria then we can help to get your mortgage approved.
Give our mortgage brokers a call on 1300 889 743 or enquire online and they'll get back to you with the best options.
What will my interest rate be?
There isn't standard pricing for a low doc loan with a bad credit history. The lender will use a risk matrix to determine the overall risk of your application and their interest rate.
Here's how they determine your rate:
What is the secret to getting the lowest interest rate and fees?
Simple! Each specialist lender has a different risk matrix and sees different loans as a high or low risk. By matching your application to the right lender we can save you a fortune.
In addition to this we may recommend a few small changes such as getting a slightly larger deposit or paying one of your defaults so you fit into a different part of the lender's risk matrix.
What are the credit criteria?
The policies used by our lenders vary significantly. Some will consider loan applications that others will not and they often price the same loans in different ways.
So what do they look for when assessing your credit history?
Don't think that your situation is too hard! Give us a call on 1300 889 743 or enquire on our website and we'll let you know how to get approved.
How will they assess my property?
All lenders want to have a standard property in a good condition and in a good location.
This is so that if you get into financial trouble in the future you can sell the property easily and why banks prefer units or houses in capital cities or major regional locations.
Vacant land, construction, hobby farms and small towns are considered to be a high risk security property so they are more difficult to finance.
Does the loan purpose matter?
If you are refinancing your existing home loan then the lender will look at if you are releasing equity and the repayments of your current loan.
If you are purchasing a property then the lender may look to see if you saved the deposit yourself or may look at your rental history.
Other loan purposes such as funding your business, buying investment properties or investing in shares are assessed based on their merits.
Ultimately, each lender has their own policies and credit criteria. It's just a matter of picking the right lender for your situation.
Who can't get approved?
The main situations where someone cannot get approved are:
In these cases we may suggest that you make some changes to your situation before we lodge your application with one of our lenders.
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Your credit card limit can be the deciding factor in mortgage approval.
That's because banks assume that credit cards are full drawn when assessing your serviceability or borrowing power.
For example, you could have a credit limit of $3,000 per month but generally only use $1,000 per month.
If you were earning $70,000 per annum and wanted to borrow $430,000 to buy a home, your application would be denied.
However, by reducing your limit to $1,000, you get approved with at least one of the lenders on our panel.
Please call us on 1300 889 743 or complete our free assessment form and we can run through some numbers with you.
You can also get an idea of where you stand by giving our borrowing power calculator a try.
) [892] => stdClass Object ( [post_id] => 3672 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>If your investment is inside an exhibition home village, please contact us to discuss the terms of the leaseback arrangement and the expected life of the village.
These can be considered if there is a bank guarantee from the builder or if your income is such that you can prove that you can afford the loan without the need to take rent income from this property into account.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will help to get your loan approved.
) [893] => stdClass Object ( [post_id] => 45334 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The Australian Prudential Regulation Authority (APRA) is forcing banks to reduce interest only approvals because they ultimately want more borrowers to be paying down the principal, not just the interest, on their home loans.
The most common reason you’ll be declined is that you don't meet the bank's borrowing power or serviceability requirements, especially for interest only loans coming to the end of a 5-year term.
A lot can change with lending policies in 5 years.
Lenders apply higher interest rates and a higher assessment rate to interest only mortgages, and they also assess your borrowing capacity over the entire loan term minus the interest only period.
For example, for a 30-year loan term with a 5-year IO term, you will be assessed over a 25-year for the same loan amount.
This increases your mortgage repayments in their calculation, reducing your savings buffer and making you a higher risk to the bank than if you were to make P&I repayments over the life of the loan.
Want to know if you can extend your interest only term?
Our mortgage brokers can properly assess your situation and let you know whether you qualify so call us on 1300 889 743 or complete our free assessment form today.
) [894] => stdClass Object ( [post_id] => 27147 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>By choosing the right lender, a consultant may be able to:
Speak to a member of our team today on 1300 889 743 or by completing our free assessment form and find out how we can help you qualify for a consultant home loan!
) [895] => stdClass Object ( [post_id] => 61234 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
The house prices in some parts of the country have been climbing up at one of the highest rates in recent years.
Sydney’s median auction house price saw a rise of more than $100,000 in March alone, with houses being auctioned at a median price of $1.755 million.
In a red-hot market like this, the only armour that can help you keep your cool is accurate information.
We understand that it is a stressful time seeing the house prices soaring sky high. The time is now to be informed, understand how much you can borrow and act quick.
Even if you have a low deposit, buying now before the prices and rates go up again may be the best way to go.
Our mortgage brokers are experts at finding options available for your situation. Please call us at 1300 889 743 or fill in our free online assessment form, and one of our brokers will get back to you right away.
) [896] => stdClass Object ( [post_id] => 25526 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Higher interest rates
We’ve already seen this with Commonwealth Bank (CBA) cancelling pricing requests for investment loans.
Larger deposits
Bankwest just announced that instead of lending 95% they’ll only lend 80% for loans for investment purposes!
You can’t borrow as much
Several lenders have changed the way they assess your borrowing power. St George has increased their assessment rate, AMP has decreased the amount of rent they use and National Australia Bank (NAB) no longer uses negative gearing benefits in their assessment.
Foreign investors won’t be able to borrow as much
Westpac and St George recently announced that they are reducing their foreign investor loans from 80% of the property value down to 70%.
Not all lenders are making these changes!
We’ve seen the major lenders and lenders that have a large share of the investment market make changes but smaller lenders haven’t yet changed their policies.
If you need the help of a mortgage broker that specialises in investment lending then please call us on 1300 889 743 or fill in our free assessment form.
) [897] => stdClass Object ( [post_id] => 41573 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>There are some lenders that will use the net income of your CSS, PSS and PSSap income under the condition that either:
If you have or will soon receive a CSS, PSS or PSSap benefit, we can help you find a lender that will consider this income.
Call us on 1300 889 743 or complete our online enquiry form to speak with one of our experts in helping retirement age borrowers.
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We have lenders that can consider reducing the living expenses for your family on the basis that your partner is working and has their own income.
To prove that they're not financially-dependent, your wife, husband or partner can provide:
Effectively, this means you will be assessed as a single applicant rather than as a couple so you can borrow more.
Call us on 1300 889 743 or fill in our online enquiry form and we'll apply with a lender that takes a common sense approach to your living expenses.
In some situations, you may be able to make reasonable reductions to your spending to improve your home loan borrowing power.
) [899] => stdClass Object ( [post_id] => 40936 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Low rate home loans are a marketing gimmick designed to "bait" or attract new customers with a heavily-discounted variable rate.
The problem is that when people call up enquiring about the deal, most of them will find they don't qualify.
In addition, the product is usually very basic and won't have all of the features that most people are after such as an offset account, the ability to make extra repayments or the option to fix without being charged a high fee.
Banks know this so the real aim is to "switch" you to another one of their products with a higher interest rate.
This is known as "bait and switch" in the industry.
Want to make sure you're not being taken for a ride when choosing a home loan?
Our mortgage brokers can help you separate fact from fiction so call us on 1300 889 743 or complete our free assessment form today.
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If you missed it, we recently gave you a prediction of what a house in Sydney may be worth in the next 50 years and believe us, we’re not trying to scare you. We just want potential home buyers to be prepared for the Sydney of the future, a property market that is still tipped to grow at a rate of 9 per cent over the next three years.
What about the next ten years though? What will you be expected to cough up for a house in not only Sydney but the rest of the Australian capital cities in 2024?
In our latest round of number crunching, we’ve not only guesstimated that the median price for a house in almost all capital cities will be over $1 million, but we’ve also worked out what kind of deposit you’ll need and how much you’ll be expected to pay in mortgage repayments. All this for the privilege of having a roof over your head!
"Owning property is one of the biggest dividers of wealth in Australia,” Home Loan Experts managing director Otto Dargan says.
“If it continues to grow into the future then anybody without property is going to get left behind by their friends who purchased.”
It’s not that far out of left field considering the fact that Australian house prices have risen by 221.4 per cent in the past 30 years, the second biggest house price increase in the world behind the UK (231.9 per cent), according to a recent report from real estate company CBRE Commercial Real Estate Services.
Before you ask your parents to start peddling drugs to help you with your deposit (see: Walter White), have you worked how much you can borrow? It may be more than you think.
Alternatively, are your parents in a position to act as guarantors on your home loan? It’s currently the only way in Australia to borrow 100% or more of the property value.
If you’re looking to get your foot into the property market today and are struggling to save up a deposit, speak with one of our mortgage brokers so they can assess your situation and recommend a no deposit home loan option that works best for you. Call 1300 889 743 or fill in our free assessment form today.
) [901] => stdClass Object ( [post_id] => 43642 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Please call us on 1300 889 743 or fill in our free assessment form and we can let you know if you qualify for a home loan with interest only.
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Our recognition at the ABAs 2018 is a testment to the continuous improvements we make to provide a better customer service experience.
Throughout 2018, we have been focused on hiring experienced home loan specialists and training them in the 'HLE Way':
That means:
Home Loan Experts will continue to operate differently to the banks and even other mortgage brokerages because we understand the power of delivering the same high quality service every single time.
We work with clients to help them achieve their property ownership goals and to put them in a better financial position.
That will never change and it's the reason why we stand head and shoulders above the rest in a time when it's becoming increasingly difficult to get approved for a home loan.
Our win, is your win, so, from the bottom of our hearts, thank you for choosing Home Loan Experts as your mortgage broker and challenging us to always be better.
Start your home buying journey today with an award-winning mortgage broker.
Call 1300 889 743 or fill in our online enquiry form to find out if you qualify for a home loan.
) [903] => stdClass Object ( [post_id] => 43265 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>You could save thousands of dollars with these exclusive offers:
*This includes your taxable income and rental income however it doesn’t include your spouse’s income unless they are also an eligible professional.
Call us on 1300 889 743 or enquire online to find out whether you can qualify for a professional discount available to geology professionals.
) [904] => stdClass Object ( [post_id] => 31064 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Depending on the strength of your case, you're eligible for the following with some of our commercial lenders:
Not sure if you qualify for finance?
We can help you put together an application that shows your strengths as a business owner.
Please call us on 1300 889 743 or complete our free assessment form to find out if you're eligible for a Domino's franchise loan.
) [905] => stdClass Object ( [post_id] => 22052 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => p>Self-employed people often set-up a trust for their business and distribute income to family members for the tax benefits.
Although it depends on your specific situation, you may be able to borrow up to:
Unfortunately, some banks don’t accept this and assume that the money being distributed is going to the beneficiaries and actually being used.
Call us today on 1300 889 743 or fill in our free assessment form so that one of our mortgage brokers can properly assess your situation.
We’re experts in helping people who have a trust set up for tax purposes. Banks generally don’t understand them at all!
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Company title
Low Doc: You can borrow up to 80% of the value of a company title unit.
Company title properties are usually blocks of units where a company owns the entire building and individuals own shares in the company, which gives them the right to occupy one of the units.
Company title was the precursor to the modern day strata title and is quite common for blocks of units built prior to the 1970s. Lenders take security over the shares rather than the land itself.
Most lenders will not approve low doc loans for company title units because the company has to approve actions of the owners such as selling the property or renting the unit.
Flood affected areas
Low Doc: You can borrow up to 80% of the value of a house in a flood prone area.
Real estate that is in a 1 in 100 year flood zone (1% AEP Residential) is the maximum risk that most lenders will consider.
Properties in areas that are known to flood more regularly are unlikely to be considered as security for a low doc loan. Houses where the known flood height is higher than the height of the floor can be considered on a case by case basis.
Heritage listed
Low Doc: You can borrow up to 80% of the value of a heritage listed house.
Properties that are considered to be of historic importance, or built with a design that is important to Australia's cultural heritage, may be listed on either a state or federal heritage protection list.
The property must be maintained in good condition and restrictions are placed on the types of changes that can be made to the external appearance of the property.
Many people believe that being heritage listed increases the value of a property.
However, lenders see these properties as a higher risk because they do not always appeal to everyone looking to buy a house. Heritage properties can also be difficult to value due to a lack of similar properties to compare them to.
High value luxury properties
Low Doc: You can borrow up to 60% of the value of a luxury residential property worth in excess of $3,000,000.
Exclusive properties in upper class suburbs that have values in excess of $3 million tend to fluctuate in value and may even reduce in value as a flow on effect of share market crashes. Because of this, lenders tend to limit the maximum loan amount to 60% of the property value.
Some lenders will consider an 80% LVR loan to a loan amount of $1 million, and a 70% LVR loan to a loan amount of $2 million. Anything more than $2 million will have a maximum loan amount of 60% of the property value.
Non-bank and private lenders may consider higher loan amounts on a case by case basis.
Hobby farms
Low Doc: You can borrow up to 80% of the value of a Hobby Farm.
The maximum land size that lenders will consider finance on is 2 hectares with a low doc loan, however we do have lenders that can consider up to 50 hectares.
The land must have easy access at all times, and the location needs to be close to a town.
The land must also be within range to be connected to the electricity grid without excessive costs. Town water and sewerage services are not required as many Australian properties have tank water or septic tanks instead. Fully serviced and partially serviced blocks are both acceptable.
The land should be used for personal or investment purposes, not as an income-producing farm. Hobby farms with minor farm improvements and no income from farm production are usually accepted.
These minor improvements could include: a shed, small dam, a few horses, etc. However, it is a grey area as to what constitutes a commercial farm as opposed to hobby farm.
If the hobby farm is bigger than 50 hectares it may only be able to be financed at 60% of the property value with an agriculture finance product.
Holiday rental
Low Doc: You can borrow up to 80% of the value of a holiday rental house or unit.
Lenders view holiday rentals to be a higher risk due to the fluctuating nature of the rental income and the higher management fees from agents. Often real estate in holiday locations are hard to sell during the off season as fewer tourists are in town looking to buy a weekender.
The amount that you can borrow and which lender we choose will depend on the type of real estate, if it is specialised in any way and the postcode it is in.
Rental income may not be fully considered in the lender assessment. Enquire online or call us on 1300 889 743 to find out how much you can borrow for your holiday rental / weekender.
Hotel / motel unit
Low Doc: You can borrow up to 60% of the value of a hotel apartment or up to 60% of the value of a hotel / motel conversion.
Some hotels, such as the Sebel, allow people to invest in their hotel by buying a room in their building. The hotel uses the room and rental income is paid to the investor. These types of properties can only be used as an investment and can only be leased to the hotel.
Because of these restrictions the normal maximum loan amount is 60% of the value of the property.
Motel units and hotel units that have been converted into residential strata units do not have these restrictions. If they are of good quality and the bank's valuer believes they are readily saleable then you may be able to borrow up to 60% of the value of the property.
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We can help you borrow up to the maximum amount based on your situation!
Call 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our easy free assessment form today.
) [908] => stdClass Object ( [post_id] => 30871 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Our mortgage brokers specialise in Australian expat home loans.
Speak with one of our specialist mortgage brokers by calling us on 1300 889 743 (+61 2 9194 1700 if you’re overseas) or by completing our free online assessment form.
) [909] => stdClass Object ( [post_id] => 951 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => It is possible to borrow money using a property investor trust if you know which lenders to apply with.) [910] => stdClass Object ( [post_id] => 34989 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Is your meals and entertainment allowance regular and ongoing and doesn't exceed $5,000 per year?
Your net income alone may not be enough to "service" or meet the bank's borrowing power requirements but by adding these allowances back, you can potentially borrow at a higher Loan to Value Ratio (LVR).
Some lenders can add back 100% of this allowance so you could potentially borrow up to 95% of the property value as a regular home loan.
Meals and entertainment cards are one of the most common fringe benefits that we deal with!
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for a meals and entertainment allowance mortgage.
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In many cases, the valuer for one lender will make comments in their report that results in your loan being declined.
We can order valuations with other banks and confirm which lenders will approve your mortgage!
If you want to purchase a home in a mine subsidence district, contact our expert mortgage brokers on 1300 889 743 or enquire online.
) [912] => stdClass Object ( [post_id] => 31045 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Depending on the strength of your case, you're eligible for the following with some of our commercial lenders:
Which lender can help me?
It really depends on your overall situation including whether you have your own property to put towards the purchase and the amount you have in working capital.
Please call us on 1300 889 743 or complete our free assessment form to find out if you're eligible for a Subway franchise loan.
) [913] => stdClass Object ( [post_id] => 26591 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
With a strong potential to return a stable income thanks to long lease terms, warehouses are a popular choice for investors wanting to take the leap into commercial real estate.
Getting approved for a warehouse loan really comes down to the nature and location of the building.
We can give you an indicative funding approval!
Call us on 1300 889 743 or fill in our free assessment form to speak with one of our warehouse loan specialists.
) [914] => stdClass Object ( [post_id] => 5405 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Two of our lenders can help. On the condition that:
We know which lenders can accept self funded retirees. To speak with one of our expert mortgage brokers please enquire online or call us on 1300 889 743 for further assistance.
) [915] => stdClass Object ( [post_id] => 36129 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Most lenders that offer mortgages for Chinese investors deal with mortgage brokers rather than customers directly.
Lending policies can also be quite confusing. Get approved the first time around by speaking with one of our specialist broker!
Call us on 1300 889 743 or complete our free assessment form today.
How do I get approved?
) [916] => stdClass Object ( [post_id] => 41955 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Doctors have access to two main discounts that aren’t readily available to other professions:
As a general rule, if you’re borrowing over 80% of the property value, your focus should be on avoiding mortgage insurance.
If your loan has been paid down to below 80% then it’s about finding a low interest rate and a loan that otherwise meets your long term objectives.
This includes building your property portfolio without breaching mortgage exposure limits.
Contracting via an ABN
Many doctors have their own Australian Business Number (ABN) and then act as an independent contractor with one or more practices.
Typically, the income evidence we need is:
We can then calculate your income by deducing GST, annualising your income and then taking 46 weeks to allow for 4 weeks holiday and 2 weeks sick leave.
So, as a general rule, if you earn $1,000 per week including GST, this would mean an assessable income of $41,818 p.a.
You can effectively get your weekly income inc GST and multiply it by 41.8 to find your assessable income for a home loan application.
Not all lenders accept this method of calculating your income. Many will require two years tax returns instead which may not be a true reflection of your current income.
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for doctor home loan discounts.
) [917] => stdClass Object ( [post_id] => 3403 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => You can use your equity for any worthwhile purpose, such as:The loan cannot be used for illegal purposes, although there are select lenders that will allow you to refinance to repay a debt to the ATO. Please call us on 1300 889 743 or enquire online if you are not sure if your loan purpose will be accepted.
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When buying an existing store, one of our lenders requires that the debt-to-EBITDA (earnings before interest, tax, depreciation and amortisation) be at least 1.75x based on past 3 years business financials of the current franchisees.
Our other lender doesn't have this same requirement and will assess your application on a case by case basis.
Borrowing the amount you need comes to building a strong business case.
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our franchise finance specialists today.
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Want to know how to steer clear of mortgage insurance? Here are a few golden tips:
Save at least 20% of the purchase price as a deposit
By having a 20% deposit, banks see you as a lower risk because you’re only borrowing 80% of the property value.
Ask your parents to go guarantor on your home loan
By having a guarantor provide their house as additional security on your home loan, you will not have to pay any LMI even if you are borrowing 100% of the property value.
How? Because you’ll essentially be borrowing less than 80% of the total value of both properties, meaning no LMI.
You can also cover the other costs of a mortgage including conveyancing fees, stamp duty and other legal costs.
Discover if you qualify by visiting our guarantor home loan page or by contacting our mortgage brokers on 1300 889 743.
Become a doctor!
Okay, we’re pulling your leg a little with this one but it’s true! Certain professionals such as doctors are considered by lenders to be low risk borrowers because of their high incomes and professional status.
Because of this, some lenders are willing to offer discounted home loans including reduced interest rates and waived LMI.
These professionals include:
Are you a professional? Call us directly on 1300 889 743 and find out what other home loan discounts you may be eligible for!
) [920] => stdClass Object ( [post_id] => 60791 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>We can help you buy property anywhere in Australia.
Our expert mortgage brokers can help you get your home loan at competitive interest rates.
Call us on 1300 889 743 or fill in our free online assessment form.
) [921] => stdClass Object ( [post_id] => 31060 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Depending on the strength of your case, you're eligible for the following with some of our commercial lenders:
Which lender can help me?
It really depends on your overall situation including whether you have your own property to put towards the purchase and how much start-up capital you have to support the first few months of operations.
Please call us on 1300 889 743 or complete our free assessment form to find out if you're eligible for a Donut King franchise loan.
) [922] => stdClass Object ( [post_id] => 70795 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>1. Not Comparing Lenders
Many people settle on a refinancing option without first comparing different lenders and the rates and benefits they offer. The widespread assumption that it’s easier working with your present lender is false; refinancing is the same procedure whether you go with your current lender or find a new one. Furthermore, being loyal to your current lender can cost you. A bank's system can see if you are a loyal customer, and won't give you as good a deal as they will someone who isn’t loyal to them. Plus, a new lender may offer you rates and benefits you don’t currently receive. Even small improvements, like a 10th or quarter of a percentage point difference in your mortgage rate can result in tens of thousands of dollars in savings over the life of your loan.
Getting at least a few estimates of rates, terms and fees from multiple lenders is essential to making the most of refinancing.
2. Looking Only At The Interest Rates Or Cashback Offers
One of the biggest mistakes borrowers make is focusing only on the interest rate when comparing mortgage lenders. Changing to an identical product from another lender to save 10 basis points on your loan can put you in a worse position if the other terms of the loan outweigh the lower interest rate. Closing costs can vary widely from lender to lender, and a seemingly low rate may come with unusually high fees.
During your evaluation, make sure to look at the best rates available. Banks don’t always advertise their best rates and even when they do, those figures exclude fees and other costs. To cut through all this noise to find the best deal, contact Home Loan Experts on 1300 889 743. Our expert brokers will make sure you have all the details.
Refinancing only to receive a cash back incentive is dangerous as well. Many customers are enticed by the $3000, $4,000 or $6,000 refund, but you need to be aware that short-term gain usually does not outweigh the long-term cost.
3. Refinancing At The Wrong Time
It's best to apply for refinancing when you've got all of your ducks in a row: when you've been making repayments on time and are a valuable customer whom the bank doesn't want to lose. But there are other factors to consider to determine when the time is right, depending on what you hope to achieve. For example, if you have a fixed-rate loan that is near the end of its term, it may be best to wait until the term has ended to start a new loan term, rather than refinancing and incurring break costs. Also consider your future plans (renovation, investing in another property, starting a family) before you refinance. The new loan should meet your future needs.
Note that if you refinance to consolidate debts, you can make that part of the loan short term. For example, if you consolidate a $50,000 credit-card debt into your home loan where you owe $300,000, the new loan amount will be $350,000. But you can keep the $50,000 portion on a shorter loan term . If you extend the term over which you pay your short-term debt to the full term of your mortgage, then even if the rate is lower, you end up paying more in interest.
You have to know the right reasons to refinance to get the best deal for your situation.
4. Refinancing Too Often
If you have already refinanced your mortgage but want to do it again because the interest rates have reached historical lows, it might get you into problems if you're not careful.
The issue is that refinancing is costly. Closing expenses for refinancing a mortgage typically range from 3-6% of the loan total, although it’s less expensive with high-balance loans. To make refinancing worthwhile, you must save enough on interest to offset the closing costs.
Some homeowners make the error of refinancing their homes too frequently. They accumulate closing expenses over time, increasing their loan debt and offsetting the benefits of refinancing in the first place.
5. Prolonging Your Loan Term
Extending your loan term may make sense if you're financially challenged and need to lower your monthly repayments or pursue a debt consolidation loan or other types of cash-out refinance that increase the balance on your original mortgage. But be careful about moving from one long-term mortgage to another. If you have a 30-year mortgage and have had it for several years already, you'll have to start over if you are refinancing to a new 30-year mortgage.
You can refinance into a new, shorter-term loan that almost matches the remaining time on your current mortgage. Because shorter-term mortgages have lower interest rates, you may be able to reduce the length of your loan while maintaining the same monthly repayment.
Broker Tip: In addition to refinancing to a loan term that matches your previous term, you can also make repayments above the minimum, so if you have a 30-year term, you can pay it off in 20 years.
6. Falling Prey To Honeymoon Rates
The banks offer first-time home purchasers and refinancers a lower interest rate for the first year to lure them into using their products and services. Since honeymoon rates revert to higher rates at the end of the introductory period, you could fall victim to predatory lending.
The honeymoon rates are extremely low initially, but you might struggle with mortgage repayments that you can’t afford when they revert. So, you need to consider your ongoing interest rate, not just the rate during the introductory period.
7. Not Knowing The True Cost Of Refinancing A Home Loan
Sometimes the savings you make by refinancing are outweighed by the expense involved. For example, if you have a fixed interest rate, you need to consider that you will have to pay a high break fee to refinance. Do not refinance to a fixed rate if you plan to make extra repayments or are likely to sell your property soon.
You can make a better decision when you’re aware of the application fees, setup fees, and break costs of the lender you want for your new loan. Find out about the upfront fees, and then conduct a thorough cost-benefit analysis before you go ahead.
8. Cashing Out Too Much Equity At Once
A mortgage refinance allows you to borrow against your home’s equity. You can use the funds for things like home repairs, investments, or another significant purchase. Mortgage interest on income-earning properties is typically tax-deductible, making it a tempting method for borrowing money.
When homeowners take out too much equity, they expose themselves to risks. You could be negatively impacted if your property value falls or your mortgage repayments increase to the point where you have little margin for error if financial issues arise. Be cautious when refinancing to cash out the equity of your property.
9. Assuming Refinancing Will Be Approved
If you apply for refinancing, you might believe that you would get approval quickly and easily because you have already been approved for one mortgage. However, refinancing is not just a simple paperwork process. Each time you refinance, you must go through the formal application process again.
The lending market is constantly changing. For example, as of May 2022, both interest rates and serviceability buffers are higher than they were a year ago. Even if your financial position is as good or better than it was when you got approval for your current mortgage, approval for refinancing is not a sure thing.
10. Not Having A Broker For Advice
A broker will take the time to get to know you and your situation and goals. They'll dive into a discussion and comparison of interest rates and the costs of obtaining each rate. They'll discuss the advantages and disadvantages of a 30-year loan versus a 20- or 15-year loan, and they'll educate you so you can make the best decision.
If you have a fixed-rate mortgage, for example, an experienced broker can advise you on whether breaking the loan is a wise decision. It could be a case of short-term discomfort for long-term gain.
Brokers will also guide you through the documentation process so you clearly understand the terms and conditions. Hence, make sure you obtain assistance when you're making decisions that will have a long-term impact on your finances and life.
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We can answer your general home loan questions but if you're ready to apply for a home loan today, your best option is to complete our online enquiry form or call 1300 889 743 today.
By providing us with as much detail as you can about your current financial situation and what type of property you're planning to buy, we can let you know if you're likely to qualify and the interest rates available to you.
) [924] => stdClass Object ( [post_id] => 13657 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>There are three possible results that the lender's system can give when your application has been scored:
Have you had trouble with a low credit score? Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will let you know which lenders can help.
You can also learn how to improve your credit score.
) [925] => stdClass Object ( [post_id] => 15401 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => When banks assess your ability to borrow, one of the major factors they evaluate is your spending compared to income. Your living expenses are a good indication of your character as a potential borrower. Specifically, banks will first identify your necessary regular spendings such as your bills and groceries. They then compare that to your regular discretionary spending on items or activities that are not necessary on a day-to-day basis. For example, banks will raise red flags for regular spending at pubs and clubs or spending on luxury fashion items. In this way, they're able to calculate your serviceability or borrowing power. The key to maximising your mortgage borrowing power is finding a lender that takes a common-sense approach to your spending. These lenders recognise areas where you can easily and quickly reduce your discretionary spending, such as in entertainment and dining out. Call us on 1300 889 743 or complete our online enquiry form and we can help you build a strong home loan application.) [926] => stdClass Object ( [post_id] => 20489 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Mining engineers make up the backbone of Australia's economy and banks are willing to offer amazing home loan deals just to get your business:
If you meet the $150,000 per annum income test, you may be eligible for the following:
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can qualify for a professional discount.
) [927] => stdClass Object ( [post_id] => 66989 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Yes, LMI waiver for first home buyers are available even if you’re borrowing more than 80% of the property value if you fall under any of the following categories:
) [928] => stdClass Object ( [post_id] => 69750 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
If you need help with getting a home loan, call 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [929] => stdClass Object ( [post_id] => 20785 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>You can also use our first home buyers calculator to discover if you're eligible for any grants.
We can help you through the process of buying a home and applying for grants.
Speak with one of our mortgage brokers by calling 1300 889 743 or by completing our free assessment form.
) [930] => stdClass Object ( [post_id] => 32741 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Yes you can! But it isn't always straightforward.
St George will sometimes allow a business loan to be processed via their residential loan department and for you to get home loan interest rates on your business loan.
What's the catch?
Not sure if you qualify? Call us on 1300 889 743 or complete our free assessment form online and we'll work out the best option for your loan.
) [931] => stdClass Object ( [post_id] => 31248 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Use the split loan calculator to work out your fixed and variable repayments and how much you could potentially save.
There are many different types of home loan products, each with pros and cons depending on your financial situation and long-term plans. Call us on 1300 889 743 or complete our free online enquiry form and we can provide you with recommendations based on your situation.) [932] => stdClass Object ( [post_id] => 31680 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Australian mortgages can be quite complicated, especially if you don't know what the lenders require from you.
On top of this, investment loans are considered riskier than ordinary home loans, especially foreign investment in Australia. This is the reason lenders prefer applicants who are in a strong financial position.
However, in Australia, each lender has a different criteria to qualify.
The key to getting a great investment loan deal is to apply with the right lender that can meet your financial goals. It's also better to look for a bank that encourages investors rather than one that is conservative towards investment loans.
What Are The Basic Requirements I Need To Meet?
Lenders prefer applicants who are in a strong financial position to get approval. Some basic criteria that you need to meet include:
Not sure if you can qualify for an investment loan?
Call us on 1300 889 743 or fill in our free online assessment form to speak with a broker about your situation and they can help find a suitable lender that can meet your home loan needs.
) [933] => stdClass Object ( [post_id] => 31072 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
As a recognised Australian brand, some lenders may be willing to allow you to borrow more than the standard Loan to Value Ratio (LVR) for a franchise in The Athlete's Foot.
Do you qualify for The Athlete's Foot franchise loan?
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our franchise finance specialists today.
) [934] => stdClass Object ( [post_id] => 29056 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
) [935] => stdClass Object ( [post_id] => 41582 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
The larger your loan, the higher the percentage of the loan amount the mortgage insurer will charge you.
Home loans less than $300,000 have very cheap LMI, loans between $300,000 and $500,000 have moderate LMI, and loans greater than $500,000 have very expensive LMI.
If you’re borrowing $300,001, you could reduce your mortgage by just $1 and immediately save as much as $800!
We're experts in the LMI thresholds that the banks have and know the little tricks they play so you get charged you a far higher premium.
Call us on 1300 889 743 or fill in our online enquiry form and we can help you avoid mortgage insurance.
) [936] => stdClass Object ( [post_id] => 45358 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => House prices are expected to bottom out over 2019/20, around 11% below the market peak in 2016/17. This has been driven by the two-prong effect of:What to avoid
Inner city apartments and off the plan purchases. Middle ring suburbs such as Strathfield, Parramatta, Auburn and Hunters Hill have seen vacancy rates increase to 2.8% in the June quarter alone and most of this has been driven by an increase in unit construction. Outside of Sydney, what was once considered an attractive investment opportunity may no longer be the case for Wollongong, with median prices falling by 2.8% (to $734,900) largely due to an oversupply of construction activity.What may be a good buy
Outer Sydney suburbs, such as the Hills district and Western Sydney, have seen a moderate decline of 2.8% over the 12 months to June 2018 so it's still a strong performing market, comparatively. The other benefit is that you'll have a better chance at finding a property that's below the $650,000 threshold for the stamp duty exemption. Regionally, Newcastle is solidifying itself as a beacon of affordable housing coupled with employment opportunities in the agriculture and tourism industry. If migration rates from Sydney and the completion of infrastructure projects continues, it is forecast that Newcastle's median house price will grow 7% to $653,000 by 2021.Likely future prospects
A number of housing projects are expected to be completed over 2018/19 but then supply is expected to slowdown. QBE is forecasting 2% growth, which will bring the median Sydney house price to $1.09 million by 2021. If you're looking to take advantage of the Sydney slowdown and you don't quite have your savings together, there are no deposit home loan solutions available. Don't let a great opportunity pass you by! Call 1300 889 743 or fill in our free enquiry form today to speak with one of our mortgage brokers. Discover more about the Sydney market on page 10 of QBE's report. ) [937] => stdClass Object ( [post_id] => 4535 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>This calculator is designed to assess your situation and identify whether or not you are eligible for a low doc loan. We can then work out which lenders you qualify with, or which aspects of your situation may be of concern to a lender.
In particular the calculator will assess:
Do you need help with your low doc loan? Please enquire online or give us a call on 1300 889 743. Our mortgage brokers are experts in low documentation loans and know which lenders can approve your loan!
) [938] => stdClass Object ( [post_id] => 1971 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The calculator lets you know how much in interest you'll save depending on the amount you have in your offset account.
To get the most benefit out of an offset facility, the more you keep in your offset, the more you'll save in interest each month.
Want to find out if you qualify for a home loan?
Call us on 1300 889 743 or enquire online today.
) [939] => stdClass Object ( [post_id] => 21031 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Enter in the details of the property that you are buying and the size of the deposit guarantee that you require and our calculator will provide you with a quote from several insurers. For larger bonds, longer term purchases or unusual situations, please speak to our mortgage brokers by calling 1300 889 743 or filling in our free assessment form.
) [940] => stdClass Object ( [post_id] => 47635 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Many of our mortgage brokers have priority or elite status with Australia's largest banks and lenders.
Call us on 1300 889 743 or complete our free assessment form to find out why we're the mortgage broker of choice for thousands of borrowers.
) [941] => stdClass Object ( [post_id] => 35159 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>It really depends on whether you're PAYG or you have your own SMSF.
PAYG
Most banks won't actually add back any additional superannuation contributions that you make.
These contributions show up as an additional deduction on your payslip so the bank actually includes it as an expense when assessing your assets and liabilities position.
This is despite that fact that you're making extra super contributions for tax benefit purposes and you may be in a position to stop these voluntary contributions at any time!
Specifically, this is where you're paying into super under a salary sacrifice, award or tax-deductible personal contribution.
SMSF
There are actually some banks that can help but very few will add back concessional super contributions if you've just started making them or you're close to retirement.
Please call us on 1300 889 743 or complete our free assessment form so we can help you find a lender that will take into account your super contributions.
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Do you have some past business experience, good security and a solid business plan?
Depending on your situation, there are lenders willing to help:
Borrowing the amount you need at a sharp interest rate is all about choosing the right lender.
Call us on 1300 889 743 or complete our online enquiry form for a free, no obligation assessment and discover if you qualify for an Outback Jack's franchise loan.
There are other franchises that we can help you get finance for too!
) [943] => stdClass Object ( [post_id] => 44601 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Our home loan refinance calculator can help you figure out how much you can potentially save by refinancing your mortgage. But before getting started, you need to be clear about what you want from your next home loan.
The benefits of refinancing can include:) [944] => stdClass Object ( [post_id] => 236 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Residential property is a favourite investment vehicle for self employed low doc borrowers. As lenders have become more comfortable with low doc lending, their restrictions on types of investments have relaxed.
With some lenders, you are now even able to invest in inner city apartments, serviced apartments, studios, land on islands and even do small duplex developments!
If you also use the property you are buying as security then you can borrow more. In some cases this type of borrowing will make you eligible for low doc professional package discounts.
If you are interest in finding out how you could invest in a residential property with a low documentation loan, call us on 1300 889 743 or enquire online.
) [945] => stdClass Object ( [post_id] => 68205 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
You’ll need to provide proof of identification when completing a refinance application. You can use any three of the following:
The lender can also ask you to provide other personal information, such as your current address, marital status and employment status.
Experienced mortgage brokers know all the necessary documents needed to refinance your home loan and can start saving you the time and stress right from the beginning of the application process. At Home Loan Experts, we can assign you an expert at refinancing. Please call us on 1300 889 743 or fill in our free assessment form to get in touch.
) [946] => stdClass Object ( [post_id] => 44526 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Do I qualify?
We expect 95% no LMI home loans to soon be available to select medical professionals including:
We expect the following criteria will also apply:
Discover if you're eligible to save thousands with a 95% waived LMI home loan.
Please call us on 1300 889 743 or complete our free assessment form today.
Other professionals are eligible for 90% waived LMI
95% no LMI home loans are just around the bend but what if you're a high income professional who isn't a medico?
Select lenders consider the following professionals as low-risk borrowers and are willing to offer significant interest rate discounts and, in most cases, 90% no LMI home loans*:
*Note: Certain income requirements apply and bank lending policies change infrequently so it's best to call us to find out if you qualify for mortgage insurance discoutns.
What if I'm not a doctor or an eligible professional?
There are a few ways to avoid the cost of mortgage insurance or at least reduce your LMI premium:
What is LMI?
Lenders Mortgage Insurance applies to high-risk home loans which typically refers to loans that are for more than 80% of the property value.
For borrowers who can't prove their income through traditional means, such as a doctor running their own medical practice, a low doc loan may be needed and it's where LMI kicks in at 60% LVR or higher.
Mortgage insurance is a way for banks to protect themselves if you default on your home loan. It doesn't protect you as the borrower!
On top of that, it can get really costly.
For example, if you were to borrow 95% on a $1,000,000 property, you could be paying more than $43,000.
Then again, by choosing the right lender, you could reduce your premium to less than $39,000.
That's still several thousands of dollars! Try the LMI calculator to see for yourself.
Grow your property portfolio quickly and securely
One of the biggest hurdles that high income professionals deal with is the ability to grow their real estate portfolios rapidly.
Mortgage exposure limits can prevent you from borrowing the amount you need because lenders have a set appetite for how much they will lend to any one borrower.
The solution is to spread your risk but most brokers don't know how to do this!
Having a solid mortgage strategy for future growth is just as important as selecting high yielding properties in emerging suburbs.
Assisting high net worth property investors is our specialty because we understand what you're trying to achieve.
We can even help you with asset protection because we're experienced in trust, company and SMSF loans.
Discover you're eligible for 95% no LMI
Call us on 1300 889 743 or complete our online enquiry form to speak with one of our experts in waived LMI home loans.
) [947] => stdClass Object ( [post_id] => 202 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Don't get caught out! Work out how much your repayments will be when your intro rate reverts to a higher variable rate. Are you better off getting a fixed rate? Let us assess your situation and recommend a home loan that works for you. Call us on 1300 889 743 or enquire online today. ) [948] => stdClass Object ( [post_id] => 43632 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>The interest only calculator will work out how much more in interest you'll pay over a 30-year home loan term.
You can adjust the loan amount, interest rate, interest only period and even repayment frequency in order to compare and contrast.
In this way, you can make a better decision on your budget when purchasing an investment property and how much in interest costs you're willing to wear if it allows you to more rapidly grow your investment portfolio.
You can even enter '0' for the interest only period to find out how much you can save by making principal and interest (P&I) rather than a 5-year interest only (IO) term.
Please call us on 1300 889 743 or complete our free assessment form today.
We can assess your entire situation and long-term goals and make interest only recommendations that match your needs.
) [949] => stdClass Object ( [post_id] => 43552 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>By trying the interest only or principal and interest calculator, you can make a more informed decision on whether it's worth wearing the interest expenses over the long term in order to free up cash flow to buy more properties or invest elsewhere.
Please call us on 1300 889 743 or fill in our free assessment form to discover if you qualify for an interest only loan.
) [950] => stdClass Object ( [post_id] => 4870 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Have a play around with the figures that you have entered and you will find that the interest rate can make a big difference to the cost of a loan. However, a small difference in rate will sometimes be offset by professional package fees.
The secret to choosing the cheapest loan is to take a holistic approach.
When looking at the price of the loan you should compare the:
However, you should also consider:
Did you know that as a mortgage broker we can do all of this for you?
Simply call us on 1300 889 743 or enquire online and we can compare two or three of the most suitable mortgages for you and let you decide which to apply for.
) [951] => stdClass Object ( [post_id] => 78554 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => This was the biggest news – and the biggest win – for the housing market in this year’s budget and the announcement came early. The government has loosened the eligibility requirements for all portions of the Home Guarantee Scheme from 1 July 2023 onwards, to help more people buy homes. Now, permanent residents, friends and family members, and non-first-home buyers will be able to apply. Places are limited and are expected to go quickly. Visit our article on Home Guarantee Scheme updates to learn more. Our mortgage brokers can give you more information or help you apply for any part of the Home Guarantee Scheme. Call us on 1300 889 743 or enquire online for free today! ) [952] => stdClass Object ( [post_id] => 71604 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Cost of living support
While living and housing costs in Queensland are still generally cheaper than in many other states and territories, there have been considerable inflationary pressures. The Queensland budget for 2022-23 is advancing several initiatives that will provide immediate and long-term solutions to reduce the financial pressures of the rising cost of living.
For instance, a retired couple in their 70s, with no dependants, living in their own home in South-East Queensland in 2022-23, who have both a Queensland Seniors Card and a pension, will qualify for savings such as a $372 electricity rebate, a $120 South-East Queensland water subsidy, $200 for council rates, and $81 for gas. In addition, they will receive $175 off their electricity bill and a discount of about $174 on annual registration for a small 4-cylinder car. With these concessions, they save $1,122 in total. Moreover, they are qualified for subsidised transportation, saving 50% on fares.
Housing affordability
The Queensland Government wants to ensure that policy and regulatory settings support the delivery of high-quality housing at a fair price for all Queenslanders. To encourage more first-time buyers to enter the market while also increasing housing availability, the Queensland First Home Owners' Grant of $15,000 is available on homes worth up to $750,000. The Queensland Government will be planning and assisting the delivery of new land supply and dwellings across Queensland towns, including the Priority Growth Areas.
Transfer duty
Queensland's transfer duty rates for most home prices are competitive when compared with other states and territories. The reductions for first-home buyers go up to $15,925. When a property is purchased as a residence, the Queensland Government provides considerable incentives for the transfer of land. This results in qualifying house buyers paying a 1% concessional rate instead of the regularly scheduled rates of between 1.5% and 3.5% on the first $350,000 of dutiable value. First-time homebuyers who spend up to $500,000 on a property are exempt from paying any duty, and reduced rates are offered on homes worth up to $550,000.
Speak with one of Home Loan Experts’ mortgage brokers to discuss your situation and make the most of the QLD budget’s provisions for home buyers. Please call us on 1300 889 743 or fill in our free assessment form.
) [953] => stdClass Object ( [post_id] => 1827 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Did you know that most banks only finance the construction of homes built by licensed builders?
Owner builder construction loans are available from a few select lenders if you have equity in your land, savings, or a guarantor that's willing to provide additional security for your mortgage.
The lending guidelines can be tough but we can help!
You may be able to borrow up to 100% of the land and construction costs by using a guarantor.Why Are The Banks So Conservative?
In the past, many lenders were happy to work with owner builders. Since then, several banks noticed that there was a high incidence of people changing their plans, going over budget or not completing the project.
Because of this, many banks and building societies have withdrawn their funding for people that are building their own home.
Lenders tend to view some applicants more favourably than others.
Applicants that are licensed builders, have experience with one or more trades or are using a program such as the Home Building System are seen as a lower risk.
For more information on different lending policies or to speak to a specialist mortgage broker about applying for a loan, complete our free online assessment form or call us on 1300 889 743 and we can help you get approval!
Apply For Owner Builder Finance
Our mortgage brokers understand the process of building a new home! We know which banks can approve your loan application and offer you a competitive interest rate.
If you'd like our help to finance your project, then please call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will call you to discuss the amount you need to build your home.
) [954] => stdClass Object ( [post_id] => 59430 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>You should first understand that lending policy for non-resident mortgages varies from bank to bank.
When you’re refinancing a home loan in Australia, you need to meet certain criteria:
Would you like help to apply for refinancing in Australia?
Give us a call on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to get in touch with one of our specialist mortgage brokers.
) [955] => stdClass Object ( [post_id] => 30589 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
If you're close to retirement age, lenders typically require you to provide an exit strategy for how you plan to pay off your home loan.
The bank may knock back your home loan exit strategy if your plan is deemed high risk or unrealistic, or doesn't otherwise meet te lender's policy.
The solution:
Your exit strategy will depend on your asset position, income and retirement plans.
We can help you choose a lender that will take a common sense approach to your situation and future plans.
Speak with one of our mortgage brokers by calling us on 1300 889 743 or by completing our free online application form.
) [956] => stdClass Object ( [post_id] => 97980 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>At Home Loan Experts, we specialise in connecting you with non-bank lenders who can offer competitive rates, personalised service, and flexible approval criteria.
Whether major banks have turned you away or you’re simply looking for a better deal, our mortgage experts are here to help.
Call us at 1300 889 743 for a free, no-obligation consultation or complete our free online assessment form, and we’ll match you with the right lenders for your needs.
) [957] => stdClass Object ( [post_id] => 97981 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>At Home Loan Experts, we specialise in connecting you with non-bank lenders who can offer competitive rates, personalised service, and flexible approval criteria.
Whether major banks have turned you away or you’re simply looking for a better deal, our mortgage experts are here to help.
Call us at 1300 889 743 for a free, no-obligation consultation or complete our free online assessment form, and we’ll match you with the right lenders for your needs.
) [958] => stdClass Object ( [post_id] => 98012 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Eligible professional athletes may qualify for the following:
Read on to find out if you qualify or call us on 1300 889 743 to speak with one of our mortgage brokers.
Alternatively, you can complete our online enquiry form and we'll get back to you.
) [959] => stdClass Object ( [post_id] => 98032 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Mining engineers make up the backbone of Australia's economy and banks are willing to offer amazing home loan deals just to get your business:
If you meet the $150,000 per annum income test, you may be eligible for the following:
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can qualify for a professional discount.
) [960] => stdClass Object ( [post_id] => 98110 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Every time you apply for a home loan, you create a hard inquiry on your credit file. So when your loan application is denied, it remains as an inquiry on your credit file.
While one denied home loan application would not drastically lower your credit score, it’s a different story when you apply with one lender after the other.
The more inquiries on your credit file, the lower your credit score. Also, a large number of inquiries in a short time suggests to potential lenders that you’re a risky borrower. This further decreases your chances of approval.
Therefore, it’s important to apply only with a lender that is favourable to your circumstances and is likely to approve your application.
Since choosing the right bank for a home loan is difficult, take the help of a mortgage broker. At Home Loan Experts, we tailor your application so your home loan is approved. Call us on 1300 889 743 or enquire online.
) [961] => stdClass Object ( [post_id] => 98112 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>If you want less competition, less stress and a better deal on your dream home, then December might be a good time to buy. At Home Loan Experts, our mortgage brokers will help you get your finances in order so you can settle before the holidays start. Call us on 1300 889 743 or enquire online.
) [962] => stdClass Object ( [post_id] => 98119 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Yes, you can. But it is only used by a few lenders and for low-risk loans.
Contact us on 1300 889 743 or fill in our free online assessment form if you’d like to use a desktop valuation for your home loan.
) [963] => stdClass Object ( [post_id] => 98121 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Improve Your Credit Score
Starting from your payment history and account balances, your lender will take a good look at your credit situation when analysing your application. If you aim to secure the lowest interest rate possible, it’s time you start improving your credit. In case you are applying for a joint loan with a spouse or other partner, pay attention to their credit as well. Although credit bureaus like Equifax don’t disclose their credit score calculation process, here’s a brief estimation of the formula they use:Maintain Stable Employment History
A consistent, long work history speaks volumes to mortgage lenders. Gradually growing, stable annual earnings on your loan application means your income is reliable and won’t be a risk for your lender. You’ll receive one of the lower interest rates available. On the other hand, if your recent financial behaviour shows multiple job changes, it gives an impression that you don’t fall into the ‘safe borrower’ category. The interest rate you receive will be more expensive than one that goes to a lower-risk borrower.Put Down A Higher Deposit
Calculate and analyse what amount of money you are willing to put down on your house. The higher your down payment, the less your borrowing amount will be and the less interest you’ll have to pay. Putting a substantial amount of money down lowers the amount you borrow and helps earn the lender’s trust. A deposit of 15% and less is considered as a low deposit - a deposit of 20% is enough to impress. This can save you thousands over the life of your loan. Expert Tip: Lenders can charge high interest rates for very small home loans as well. Try to keep your loan amount above $100,000 to make sure you bag the best mortgage interest rates possible.Find The Best Deal
No better way to find the best interest on your mortgage than by seeking out the lender with the lowest rates. Shopping around gives you the answer to your unique home loan situation. Browse through 50+ lenders in our panel to find the best loan for you. While banks are a good option for some homebuyers, non-bank lenders might be the way to go for others. Depending on factors like your borrowing amount, strength of your loan application and term of the loan, ideal lenders differ. Shop around to find the best deal for your home loan requirements. Read more about negotiating your interest rate with your lender.Go For A Shorter-Term Loan
A shorter home loan term means you make higher repayments, but you pay less in interest. As short-term loans are usually considered less risky, your lender will most likely settle for a lower interest rate. Apart from that, lenders are always in favour of homebuyers repaying loans quickly. So if a lower interest rate is among your top priorities, go for a 10-year or a 15-year mortgage, instead of a 30-year mortgage.Get Expert Assistance
Get professionals to help assess your financial situation and your loan application. Our Experts know the best possible ways to help you land the lowest interest rate possible. From negotiating a great interest rate on your behalf to assisting you throughout the life of your mortgage, we make your home loan experience convenient. Call us on 1300 889 743 or fill in our free assessment form and we’ll let you know the best interest rates available to you. ) [964] => stdClass Object ( [post_id] => 98122 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Improve Your Credit Score
Starting from your payment history and account balances, your lender will take a good look at your credit situation when analysing your application. If you aim to secure the lowest interest rate possible, it’s time you start improving your credit. In case you are applying for a joint loan with a spouse or other partner, pay attention to their credit as well. Although credit bureaus like Equifax don’t disclose their credit score calculation process, here’s a brief estimation of the formula they use:Maintain Stable Employment History
A consistent, long work history speaks volumes to mortgage lenders. Gradually growing, stable annual earnings on your loan application means your income is reliable and won’t be a risk for your lender. You’ll receive one of the lower interest rates available. On the other hand, if your recent financial behaviour shows multiple job changes, it gives an impression that you don’t fall into the ‘safe borrower’ category. The interest rate you receive will be more expensive than one that goes to a lower-risk borrower.Put Down A Higher Deposit
Calculate and analyse what amount of money you are willing to put down on your house. The higher your down payment, the less your borrowing amount will be and the less interest you’ll have to pay. Putting a substantial amount of money down lowers the amount you borrow and helps earn the lender’s trust. A deposit of 15% and less is considered as a low deposit - a deposit of 20% is enough to impress. This can save you thousands over the life of your loan. Expert Tip: Lenders can charge high interest rates for very small home loans as well. Try to keep your loan amount above $100,000 to make sure you bag the best mortgage interest rates possible.Find The Best Deal
No better way to find the best interest on your mortgage than by seeking out the lender with the lowest rates. Shopping around gives you the answer to your unique home loan situation. Browse through 50+ lenders in our panel to find the best loan for you. While banks are a good option for some homebuyers, non-bank lenders might be the way to go for others. Depending on factors like your borrowing amount, strength of your loan application and term of the loan, ideal lenders differ. Shop around to find the best deal for your home loan requirements. Read more about negotiating your interest rate with your lender.Go For A Shorter-Term Loan
A shorter home loan term means you make higher repayments, but you pay less in interest. As short-term loans are usually considered less risky, your lender will most likely settle for a lower interest rate. Apart from that, lenders are always in favour of homebuyers repaying loans quickly. So if a lower interest rate is among your top priorities, go for a 10-year or a 15-year mortgage, instead of a 30-year mortgage.Get Expert Assistance
Get professionals to help assess your financial situation and your loan application. Our Experts know the best possible ways to help you land the lowest interest rate possible. From negotiating a great interest rate on your behalf to assisting you throughout the life of your mortgage, we make your home loan experience convenient. Call us on 1300 889 743 or fill in our free assessment form and we’ll let you know the best interest rates available to you. ) [965] => stdClass Object ( [post_id] => 98132 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>At Home Loan Experts, we specialise in connecting you with non-bank lenders who can offer competitive rates, personalised service, and flexible approval criteria.
Whether major banks have turned you away or you’re simply looking for a better deal, our mortgage experts are here to help.
Call us at 1300 889 743 for a free, no-obligation consultation or complete our free online assessment form, and we’ll match you with the right lenders for your needs.
) [966] => stdClass Object ( [post_id] => 98139 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => Rezoning property can be highly lucrative and there are two main reasons why:) [967] => stdClass Object ( [post_id] => 98141 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
There is no right time to buy an investment property but there are certain factors that should influence your decision:
Call us on 1300 889 743 or fill in in our online enquiry form.
One of our mortgage brokers can assess your financial situation in full and let you know if you qualify for an investment loan.
Already have a property in mind?
Provide us with the address and we can find out the indicative property value.
We can then ask you how much you're looking to borrow and run through some figures on how much it will cost to own an investment property.
In this way, you can make a more informed decision as to whether now is the right time to buy or whether you are better off continuing to pay down your mortgage.
) [968] => stdClass Object ( [post_id] => 98147 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Did you know that more than 80% of first home owners grant applications are lodged incorrectly the first time around?
So, based on our experience, we’ve created a FHOG guide to help first home buyers complete an accurate application which will be approved quickly.
If you do not complete the form correctly, delay sending in the form or do not provide the correct supporting documents then the settlement of your new home could be delayed!
Not ready to apply for the grant yet? Try our FHOG calculator to discover how much you qualify for in your state.
Call us on 1300 889 743 or enquire online and we can help you buy your first home.
) [969] => stdClass Object ( [post_id] => 98153 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
Your credit card limit can be the deciding factor in mortgage approval.
That's because banks assume that credit cards are full drawn when assessing your serviceability or borrowing power.
For example, you could have a credit limit of $3,000 per month but generally only use $1,000 per month.
If you were earning $70,000 per annum and wanted to borrow $430,000 to buy a home, your application would be denied.
However, by reducing your limit to $1,000, you get approved with at least one of the lenders on our panel.
Please call us on 1300 889 743 or complete our free assessment form and we can run through some numbers with you.
You can also get an idea of where you stand by giving our borrowing power calculator a try.
) [970] => stdClass Object ( [post_id] => 98168 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>Using the equity in your land for a construction loan, you may be able to borrow up to:
We have mortgage brokers who specialise in construction loans.
Please speak with one of our credit specialists by calling us on 1300 889 743 or complete our free online assessment form and one of us will contact you instead.
) [971] => stdClass Object ( [post_id] => 98171 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => According to the Customer Owned Banking Association (COBA), customer-owned banking is the "fifth pillar" in banking after the 'big four' (Commonwealth Bank, ANZ, Westpac and National Australia Bank), providing much-needed competition to the banking sector. The main benefit is that they operate for the benefit of its customers rather than purely for profit. Profits actually go back into providing better products and services as well as into the local community and environment. But with around $92 billion in assets, are they really operating in your best interests?
Comparing them to standard banks
The main difference between mutual banks and the major banks and lenders is that customer-owned banks aren't listed on the Australian Securities Exchange (ASX). Instead being owned and controlled by shareholders and investors, customer-owned banking essentially means that customers own a share in the bank. Each member share amounts to one vote on the bank's governance including the selection of board members and other major company changes like closing and opening branches. COBA would like to argue that for this reason, customer-owned banks aren't profit-driven. Instead, all profits are invested back into improving their products, providing better customer service and charging fair fees.Do they offer the same type of finance?
Customer-owned banks offer the same products and services such as home loans, personal finance, term deposit accounts and credit cards.Are they still tightly-regulated?
Because they're still so-called Authorised Deposit-taking Institutions (ADIs), customer-owned banks like building societies and credit unions must still adhere to the regulations as other banks and lenders. These regulations are set out in the Banking Act 1959 and enforced by the Australian Prudential Regulatory Authority (APRA). They must also adhere to the Corporations Act 2001 (enforced by the Australian Securities and Investments Commission) so there's no shirking their responsibilities as an Australian financial institution.What are the benefits?
Some of the benefits of getting a home loan with a customer-owned bank include:Will you always get a lower interest rate?
Not always but research from Choice found that customer-owned banks consistently offer better interest rates on all of their products including home loans. The average standard variable home loan rate for owner-occupiers in the customer-owned banking sector was 69 basis points lower than the average advertised standard variable rate offered by the four major banks before the rate rises in late 2015. The difference works out to a saving of around $160 a month for a $400,000 home loan on a 25-year term.Do they really offer better customer service?
Roy Morgan research found that building societies had the highest customer satisfaction rating as of May 2015 (93.8%), followed by mutual banks (92%) and credit unions (90%). This compared to the big four's rating of 81.5%.What are the drawbacks?
Although customer-owned banks can often offer you a better interest than other banks and lenders, you generally have to be a strong borrower to get approved. Unlike some of the other lenders on our panel, the following generally applies to mutual banks:Which banks are customer-owned?
Australia's mutual banks, credit unions, and building societies include:How do customer-owned bank help the community?
One of the definitions of a mutual bank is that it supports the local community through social responsibility and, in some cases, environmental responsibility. The following three mutual banks support the local community in the following ways (contribution figures accurate as at May 2015). Teachers Mutual Spends 4.55% of pre-tax profits on community investment which is 12.6 times the average for the financial services sector in Australia and New Zealand. Bankmecu Developed 'Conservation Landbank' to help protect natural forests in Victoria's west Wimmera region, with 927 hectares purchased for protection since 2008. Community First Credit Union Donates half the annual fee on its 8.99% credit card (for purchases, cash advances, and balance transfers) to the McGrath Foundation.What is COBA?
The Customer Owned Banking Association (COBA), the main industry body, represents 74 credit unions, 6 building societies, and 12 mutual banks. They also represent 13 so-called friendly societies or mutual societies which provide savings, investment and insurance products to help its customers plan for life events like education, retirement, health, and travel. The association started out as the Association of Building Societies and Credit Unions (Abacus - Australian Mutuals) in 2006, a merger between the Credit Union Industry Association (CUIA) and the Australian Association of Permanent Building Societies (AAPBS). On 1 July 2013, it was relaunched as COBA.Do you need a home loan?
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers. We can properly assess your situation and recommend home loan solutions that best suit your needs and ultimate financial goals![wbcr_snippet id="72955"] ) [972] => stdClass Object ( [post_id] => 98177 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
At the time of settlement, there's always a risk that one party may fail to deliver the terms of a contract with another party. This is called settlement risk.
A settlement risk can be associated with home loan default, where you're unable to meet legal obligations of a loan, during settlement or any time difference in settlement between the two parties.
How do homebuyers end up with settlement default?
Capacity to settle
You may come across a situation where you have little option but to default on settlement. For example, if you have excess debt and can't afford to make mortgage repayments.
Some factors that affect this include:
If you're an overseas buyer then you can be adversely affected by major changes in Australian foreign exchange rates.
Willingness to settle
Some property buyers are motivated by certain circumstances to default.
For example, between the period of sales and settlement, the price of the property may fall by more than what you may have deposited. In this situation, you can reduce your losses by defaulting.
Call us on 1300 889 743 or fill in our free online assessment form and speak with one of our expert brokers for more information.
) [973] => stdClass Object ( [post_id] => 98187 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] => The best way to start to discuss your eligibility for a home loan is to speak with a mortgage broker, as there are many benefits to using a broker.
) [974] => stdClass Object ( [post_id] => 98188 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
We also have a lot of negotiating power with the 50-plus lenders on our panel. You can call us on 1300 889 743 or enquire for free online, and one of our specialist brokers will talk to you about what the other banks have on offer.
) [975] => stdClass Object ( [post_id] => 98203 [meta_key] => add_site_layouts_1_post_editor_option [meta_value] =>
If you need help with a loan, call us
Please call us on 1300 889 743 or fill in our free assessment form and our staff will help you to get approved for a home loan.
Acceptable borrowers
Excluded borrowers
Case by case borrowers
The following aren't considered to be traditional borrowers but they can still get a home loan by building a strong case with the right lender:
Loans to companies and trusts
For company loans, all directors and shareholders (excluding 'notional directors') must provide unconditional joint and several personal guarantees.
In the case of a trust, where the trustee is a company, directors and shareholders are required to provide unconditional joint and several guarantees, as mentioned above.
The trustee of the trust must always be the borrower in its own right and as trustee for the trust. E.g. Smith & Co Pty Ltd IIOR & ATF The Smith Family Trust.
This requirement applies to both family, discretionary and unit trusts.
Hybrid trusts aren't generally accepted for home loan applications (some exceptions may apply).
In some cases, the directors of the trustee company may be the borrower, whilst the trust is the mortgagor.
These applications are assessed on their merits.
Borrowers of convenience
A borrower of convenience is defined as a borrower that's added to the loan application to provide serviceability and/or security but doesn't receive a tangible benefit from the loan transaction.
Borrowers must have a beneficial interest in the loan transaction either by way of joint ownership of the security or if the borrowers are in a de facto or marital relationship.
It's not acceptable for a person to be joined in a loan simply to provide income support for servicing or to provide added security for another party to purchase a property.
The exception to this is with guarantor home loan applications.
Non-residents
For the purposes of this policy, a non-resident is deemed to be any person without permanent residency status in Australia, and/or any person who resides and is employed in another country.
Australian citizens living and working overseas (Australian expats) are considered residents of Australia so they're not treated as non-resident by the banks.
Similarly, New Zealand citizens living and working in New Zealand or permanent residents of New Zealand are considered residents of Australia.
The maximum LVR and Loan Amount that you can borrow:
Borrowers must be high net worth or with net assets in excess of $500,000.
Where one borrower is a citizen or permanent resident of Australia or New Zealand, and the other borrower is a non-resident as per the above definition, any proposal will be assessed under normal policy and not under the non-resident policy above.
In situations where non-rental income can't be adequately verified, 100% of the gross market rental income for the security property must be sufficient to cover the proposed mortgage loan instalments
This is calculated at the current assessment interest rate.
Where required, written evidence that Foreign Investment Review Board approval has been granted, must be supplied.
Guarantors
Guarantors are required to complete a full application form including personal details, financial position, employment details and sign the lender's Privacy Act declaration.
Where guarantor income is required to service the proposed debt, standard employment and income policies apply, including income and employment verification requirements.
For family pledge home loans, the guarantor can't be a pensioner using their owner occupied property as security for the loan.
Note that some lenders don't have this requirement.
Savings
Borrowers who have saved a deposit are generally better prepared to deal with any difficult financial circumstances that may arise.
They have proven their ability to manage their finances responsibly and live within their means.
Genuine savings needs to be evidenced in the following circumstances:
Note that some lenders require genuine savings for loans above 80% LVR. Please refer to your mortgage broker for the specific policies of a particular lender.
Genuine Savings
Must be held in the borrower's name and include:
Regardless of whether you choose to go with units or houses as your preferred investment property, we can usually help you borrow the amount you need.
Just speak to one of our mortgage brokers by giving us a call on 1300 889 743 or by filling in our free assessment form to find out if you qualify for an investment home loan with a competitive interest rate.
[wbcr_snippet id="72508"] [sg_popup id=81314] ) [977] => stdClass Object ( [post_id] => 1633 [meta_key] => add_site_layouts_20_post_editor_option [meta_value] =>We are mortgage brokers that specialise in finding solutions for people who are in situations that are outside of the box, and for investors that earn rental income that’s difficult to prove or doesn’t meet standard guidelines.
If you’d like to know how we can help with your home loan then please call us on
1300 889 743 or fill in our free assessment form. Our mortgage brokers are experts in helping people get the most out of their income sources and will help you get the best rates available!
Still not sure how much deposit you need to buy your dream home? One of our Home Loan Experts can help you figure out.
To speak with one of our mortgage brokers, call 1300 889 743 or complete our free, no-obligation assessment form.
) [980] => stdClass Object ( [post_id] => 911 [meta_key] => add_site_layouts_20_post_editor_option [meta_value] =>We are mortgage brokers who specialise in non-resident home loans! We can help make the entire process of applying for a home loan to buy Australian property as simple as possible.
If you'd like to buy an investment property in Australia and are looking for foreign national lenders in Australia, please call us on +61 2 9194 1700 or complete our free assessment form and one of our brokers will contact you to further discuss your options.
If you're from Australia, call us on 1300 889 743 to speak to our expert team of brokers.
[wbcr_snippet id="74948"] ) [981] => stdClass Object ( [post_id] => 7339 [meta_key] => add_site_layouts_20_post_editor_option [meta_value] =>With our specialised knowledge we have helped people on a temporary spouse visa get great loan packages with low interest rates from some of the major banks across Australia.
Want to discuss your situation? Call us on 1300 889 743 or enquire online and our mortgage brokers will assess your ability to borrow up to 95% of the purchase price!
) [982] => stdClass Object ( [post_id] => 189 [meta_key] => add_site_layouts_21_post_editor_option [meta_value] =>LMI stands for Lenders Mortgage Insurance. This is insurance for the lender, allowing them to recover their losses should you default on your loan.
LMI does not protect you as a borrower or guarantor. A lender will not approve your loan if your application is too risky, so you don't have a choice but to take out LMI if your lender requires it.
In most cases you do not choose the insurer as lenders have specific deals with one or two insurers. The lender will arrange the cover as part of their loan approval process.
In some cases, lenders have the power to approve the loan on behalf of the LMI provider which is known as a Delegated Underwriting Authority, or DUA for short.
As a general rule you will have to pay the LMI premium for the lender, although there are some lenders that will pay the premium for you in return for a higher interest rate.
Some lenders will always insure your loan, in which case they may pay for the LMI premium if your loan is below 60% LVR (60% of the value of your property).
The main insurers that provide Lenders Mortgage Insurance are Genworth Financial and QBE LMI. Some banks have their own LMI and others charge a risk fee and take on the risk of your loan themselves.
Will I have to pay LMI?
Although there is variation between lenders, the general rule is that you will have to pay the LMI premium if you borrow over 60% LVR (60% of the property value). Some lenders will still insure the loan below 60% LVR but will not charge you the premium, while others will not insure the loan at all due to the low risk of a 60% LVR loan.
If you are borrowing between 60% and 80% LVR then you will usually have to pay the LMI premium. Some lenders will pay the LMI for you in return for a higher interest rate.
How much will my LMI premium be?
LMI works on a sliding scale depending on the loan amount and the LVR (percentage of the property value that you are borrowing).
It may also vary because state governments charge stamp duty on insurance premiums, the amount of which varies between different states.
Some lenders' LMI providers have different LMI premiums depending if your loan is regulated or unregulated by the Uniform Consumer Credit Code (UCCC).
A loan is usually unregulated if it is for business purposes or if a company is the borrower. Generally unregulated loans have higher LMI premiums than regulated loans.
Approximate LMI premiums (as a guide only!):
For any loan amount at 60% LVR or below there would usually be no LMI premium at all. For loans between 60% and 80% there are usually two different rates used, one for 60.01% to 70.00% LVR and another for 70.01% to 80.00% LVR.
Call us on 1300 889 743 or enquire online to find out which lenders have the cheapest LMI premiums! Alternatively, use our online LMI premium calculator to find an exact premium for your situation. A small difference in the rate charged for the premiums can mean a few thousand dollars kept in your pocket!
Which low doc lender has the lowest LMI premiums?
Because LMI premiums vary depending on the loan amount, LVR (amount you are borrowing as a percentage of the property value) and purpose of the loan there is no "best lender" for LMI premiums. The lender that is best for owner occupied loans under $300,000 may be terrible for loans of $1,000,000!
We usually ask you to provide your full details. We then calculate each lender's LMI premium, fees and interest rates before returning to you with several options. Alternatively, use our online LMI premium calculator to find an exact premium for your situation.
As lenders do not normally publish their LMI premium rate cards it is essential to call us on 1300 889 743 or enquire online, your mortgage broker to find out which lender to use for your loan.
Do lenders have different assessment guidelines for low doc loans with LMI?
Yes, lenders have separate guidelines to that of the LMI insurers. If your loan is over 60% LVR and requires insurance then the loan may be approved by your lender but declined by the lenders mortgage insurer! In some cases the LMI may approve the loan but the lender may decline it!
As a general rule, lenders have relaxed guidelines for loans below 60% LVR and stricter guidelines for loans over 60% LVR.
Some lenders have the power to approve loans on behalf of the LMI provider using a Delegated Underwriting Authority or DUA. In these cases, the lenders use their own guidelines and can approve loans that would otherwise be declined by the LMI.
If your loan was declined by your lender's LMI provider then call us and we can find another lender for you who either has a DUA or has less restrictive LMI guidelines.
When do I have to pay my LMI premium?
You will pay the LMI premium from your loan funds at the settlement of your loan. Settlement is when your loan is advanced or when the property you are buying is transferred into your name.
You do not have to pay the LMI premium every year. It is just one fee that is paid when the loan is set up.
Can the lender lend me my LMI premium as well?
Some lenders will be able to capitalise your Low Doc LMI premium on top of the amount you are borrowing. This would mean if your loan is $300,000 and your LMI premium is $1,650 then your total loan amount would be $301,650. Some lenders such as Westpac do not capitalise LMI premiums.
) [983] => stdClass Object ( [post_id] => 58706 [meta_key] => add_site_layouts_21_post_editor_option [meta_value] =>
We're now reserving Scheme places for our customers subject to availability.
Due to the limited number of slots on offer, you should ensure your application is "first-in-best-dressed" for the best possible outcome.
To apply and reserve a place in the First Home Loan Deposit Scheme (New Homes), give us a call on 1300 889 743 or fill in our short online assessment form.
) [984] => stdClass Object ( [post_id] => 56952 [meta_key] => add_site_layouts_21_post_editor_option [meta_value] => Our mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home. They can also clarify any questions you may have about the cost of stamp duty, transfer fees or first home owners grants in the Australian Capital Territory (ACT). Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our online assessment form to find out if you’re ready to buy. ) [985] => stdClass Object ( [post_id] => 1357 [meta_key] => add_site_layouts_21_post_editor_option [meta_value] => We have mortgage brokers with extensive experience in financing property purchases for people who don’t have genuine savings. We can tell you if your deposit will be considered genuine savings, whether you can use your rental history and whether you can qualify for a loan without genuine savings. Please call us on 1300 889 743 or complete our free online assessment form today! ) [986] => stdClass Object ( [post_id] => 27607 [meta_key] => add_site_layouts_22_post_editor_option [meta_value] =>Get in touch with one of our specialist mortgage brokers today by calling 1300 889 743 or by completing our free assessment form.
We’re experts in lender policy and we can give you the right information you need to make an informed decision when choosing a property.
) [987] => stdClass Object ( [post_id] => 1357 [meta_key] => add_site_layouts_22_post_editor_option [meta_value] => We have mortgage brokers with extensive experience in financing property purchases for people who don’t have genuine savings. We can tell you if your deposit will be considered genuine savings, whether you can use your rental history and whether you can qualify for a loan without genuine savings. Please call us on 1300 889 743 or complete our free online assessment form today! ) [988] => stdClass Object ( [post_id] => 30456 [meta_key] => add_site_layouts_24_post_editor_option [meta_value] =>Business loan interest rates aren't always consistent among lenders. This is because different lenders perceive your risk as a borrower differently.
By choosing a lender that can consider you to be a low risk, you can get a great deal. We may even be able to negotiate a low interest rate for you.
To find out how we can help you get the best deal for your business loan, fill in our free online assessment form or call 1300 889 743 to speak with one of our specialist mortgage brokers.
) [989] => stdClass Object ( [post_id] => 56799 [meta_key] => add_site_layouts_24_post_editor_option [meta_value] =>If you want to buy or build a property in Queensland, we can help you get qualified for a home loan.
Our mortgage brokers will help you through the process of finding out how much stamp duty you may need to pay and they will help you identify if you are eligible for exemptions.
Fill in our free assessment form or call us at 1300 889 743 to speak to one of our specialist mortgage brokers.
) [990] => stdClass Object ( [post_id] => 25803 [meta_key] => add_site_layouts_24_post_editor_option [meta_value] =>Bridging loans are a great option if you need to move quickly to buy a property. Like any other home loan though, it's not a debt to be taken on lightly and it pays to speak to a professional mortgage broker so they can provide the right recommendations to you.
Please call us on 1300 889 743 or fill in our free assessment form today to find out if you qualify for a bridging loan.
[sg_popup id=65221] ) [991] => stdClass Object ( [post_id] => 70491 [meta_key] => add_site_layouts_25_post_editor_option [meta_value] =>
You will need to send your application to a participating lender. We can help you with your application. Call us on 1300 889 743 or enquire online today.
) [992] => stdClass Object ( [post_id] => 94226 [meta_key] => add_site_layouts_25_post_editor_option [meta_value] =>You will need to send your application to a participating lender. We can help you with your application. Call us on 1300 889 743 or enquire online today.
) [993] => stdClass Object ( [post_id] => 76219 [meta_key] => add_site_layouts_25_post_editor_option [meta_value] =>A shared-equity scheme is one of the many ways you buy a home sooner without saving a larger deposit. However, with the plethora of schemes and options available, choosing the right one can be difficult.
That’s why you should take the help of an expert. At Home Loan Experts, our mortgage brokers are updated with the latest schemes available for homebuyers. Call us at 1300 889 743 or enquire for free online to discuss your options today!
) [994] => stdClass Object ( [post_id] => 25585 [meta_key] => add_site_layouts_26_post_editor_option [meta_value] => Let one of our expert commercial mortgage brokers properly assess your situation and tell you if you qualify for pub finance. Call us on 1300 889 743or complete our free assessment form today.[wbcr_snippet id="75590"] ) [995] => stdClass Object ( [post_id] => 5143 [meta_key] => add_site_layouts_26_post_editor_option [meta_value] =>
Our mortgage brokers are experts in the policies of the major lenders and can quickly work out how to get your home loan approved.
Please call us on 1300 889 743 or enquire online to discuss your situation and the property that you are buying with one of our staff.
) [996] => stdClass Object ( [post_id] => 70491 [meta_key] => add_site_layouts_26_post_editor_option [meta_value] =>You will need to send your application to a participating lender. We can help you with your application. Call us on 1300 889 743 or enquire online today.
) [997] => stdClass Object ( [post_id] => 70491 [meta_key] => add_site_layouts_27_post_editor_option [meta_value] =>You will need to send your application to a participating lender. We can help you with your application. Call us on 1300 889 743 or enquire online today.
) [998] => stdClass Object ( [post_id] => 81135 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Some of these can be added to your new loan amount so that you don’t have to pay them out of pocket. Now, on to breaking down the costs of refinancing.Closing Costs
New Loan Costs
The reason lenders use only 80% of your rent is that they assume that 20% of the rent you receive will be used to pay for managing agent’s fees, council rates, strata levies, repairs and to cover for any vacancies.
However, each lender has a different policy, so it’s best to call us on 1300 889 743 or complete our free assessment form and our mortgage brokers will help you apply for a loan with the right lender.
) [1000] => stdClass Object ( [post_id] => 31983 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>You can dramatically improve your borrowing power by:
Please note that some banks may also assume that your income estimate doesn’t include expenses such as private school fees. They may add them in their calculations and essentially count them twice and therefore, lowering your borrowing power.
We can help you improve your borrowing power and get approved with the right lender. Call us on 1300 889 743 or complete our free online assessment form today.
) [1001] => stdClass Object ( [post_id] => 3812 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Not every bank is set up to lend to company structures!
This may be because their system cannot process company loans or their credit staff aren’t trained on how to assess company loan applications.
Some banks:
For this reason, it’s critical to apply with the right lender, one who can give you an excellent discount, has the experience to assess company loans properly and won’t have system issues with accounts being in the incorrect name or features that you can’t use.
To find out which lender offers the most competitive loan package, please contact us on 1300 889 743 or fill in our freeassessment form today.
) [1002] => stdClass Object ( [post_id] => 30233 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Investing in property is highly leveraged. This means that it allows you to magnify your potential return with minimal amount of funds!
Let’s say you go interest only to borrow 80% of the property price and leave all your funds in an offset account. Effectively, you don’t need to pay LMI and you won’t owe anything. On top of that, you’ll still be able to draw out money when you want to.
Drawing out money for something else, however, means that you’ll have a tax deductible loan on the property.
Speak with your accountant for specific tax advice for your situation.
Call us on 1300 889 743 or fill in our free online assessment form to speak with one of our brokers about your situation. They can help you decide whether you should buy with cash or mortgage.
) [1003] => stdClass Object ( [post_id] => 26620 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>The Home Guarantee Scheme is the Australian Government’s initiative to support eligible homebuyers who want to buy a home with a smaller deposit. The greatest benefit of this scheme is you don’t need to pay Lenders Mortgage Insurance (LMI). LMI is usually applicable when your deposit is less than 20% of the property price.
There are three types of guarantees under this scheme:
Each of these schemes has its own eligibility requirements and property price caps. Please read them carefully to see if you qualify, or you can contact the experts at 1300 889 743 for more information.
) [1004] => stdClass Object ( [post_id] => 3679 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Please fill in our free assessment form or call 1300 889 743 to speak with a mortgage broker who specialises in financing over 55s housing.
) [1005] => stdClass Object ( [post_id] => 40732 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Which lenders will allow you to cross-collateralise?
The more you cross-securitise, the more your borrowing power becomes tighter. In recent times, the industry regulator, the Australian Prudential Regulation Authority (APRA), has forced banks to tighten their policies on investment lending. What this has meant is tighter mortgage exposure limits, requiring you to provide more security in the form of equity or a deposit that you’ve saved yourself. There’s no telling how long banks will allow you to cross-collateralise! Please call us on 1300 889 743 or fill in our online enquiry form to speak with one of our mortgage brokers about your investment plans. ) [1006] => stdClass Object ( [post_id] => 314 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>95% investment loan
Did you know that borrowing 95% of the property value (95% LVR) is actually quite difficult for an investment property?
This is due to a number of reasons:
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will call you to discuss which loans are suitable for your situation.
An additional loan
One of our banks can lend 90% or 95% of the property value and also approve a small unsecured loan to assist you with paying for costs such as stamp duty.
This unsecured loan is at the same interest rate as the home loan, so this works out to be a very effective way to buy a property with a small deposit.
Squeezing your equity
Did you know that in some cases you can refinance your property portfolio up to 95% of their value? By squeezing more equity out of your existing properties you can get a bigger deposit and buy more properties.
We can help you do this in a few ways:Vendor incentives or kickbacks
It isn’t uncommon for builders or developers to offer incentives, rebates or kickbacks to buyers which can be used as part of their deposit.
Unfortunately, the bank valuers will reduce their valuation to take these incentives into account. As a result this method of financing your deposit isn’t normally effective.
Government grants
In some states of Australia, it’s possible for investors to receive a grant to buy a newly built investment property.
If you have a small deposit then this can be a good way for you to get into the market right away rather than saving a large deposit.
) [1007] => stdClass Object ( [post_id] => 37652 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
) [1008] => stdClass Object ( [post_id] => 78371 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
It is important to act quickly to protect your interests if your builder goes bankrupt. Seek professional advice and keep your lender informed of your situation. We are here to help. Call us today on 1300 889 743 or fill out our free enquiry form online!
) [1009] => stdClass Object ( [post_id] => 84776 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
There are several documents that the bank will need from you in order to process a loan for a trust:
Please talk to us on 1300 889 743 or fill in our free assessment form for a specific list of required documents.
) [1010] => stdClass Object ( [post_id] => 33166 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
It is possible to negotiate a better interest rate with Macquarie, but usually only for larger loan sizes or when they are losing customers to other lenders.
Your mortgage broker can put in a pricing request with their Macquarie relationship manager and they’ll make you an offer. Macquarie tends to have a preference for owner occupied loans used with a large deposit and principal and interest repayments.
Would you like us to put in a pricing request for you? Call us on 1300 889 743 or complete our free assessment form online.
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To get a home loan when you’re self-employed, you will need:
Home Loans For Those Self-Employed Under 2 Years
We have lenders on our panel that can approve loans for people who have been self-employed for between one and two years, as long as they have been in the same line of work for some time and have at least one year’s financials for the new business.
A good example of someone we can help is a plumber who has been operating his own business for one year and was previously employed as a plumber for five years.
If you’re concerned that your employment situation may make you ineligible for a home loan, please call us on 1300 889 743 or fill in our free online assessment form. We specialise in helping self-employed people qualify for home loan products at competitive rates!
Home Loans For Self-Employed Under 1 Year
If you’ve been self-employed for less than one year, there aren’t many options. Most banks won’t lend to you because you don’t yet have tax returns to prove your income and because new businesses have more financial uncertainty.
There is hope, though. One of our lenders can look at your income from your last job and take that as proof that you can afford the loan.
The reasoning behind this is that if you decided to close your business you could always return to working for someone else on a similar salary. On that basis, we can help you borrow up to 80% of the property value.
) [1012] => stdClass Object ( [post_id] => 33313 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
) [1013] => stdClass Object ( [post_id] => 69333 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => There are three things we can look at to determine quickly how hot or cold the property market is:
1. Auction Clearance Rates
The auction clearance rate is the percentage of auctions that result in a successful sale, either at auction, before the auction or just after the auction. This data (example in the chart below) is freely available on CoreLogic’s website and helps quickly gauge how much heat is in the property market.
(Note: This chart is from 2022.)
What the auction clearance rate tells us about the market:
2. Days On Market
How long a property stays on the market is another useful metric to gauge buyer interest in a particular property or area. Fewer days on the market means there is more competition and you’ll need to make an offer closer to the asking price. More days on market means there is less demand/competition in the area and you can get away with offering less. For example, if you find a house that has been on the market for 60 days but most recent sales in the area have taken 30-45 days, you can start off with a lower offer than the average vendor discount. This situation could also mean the vendor has unrealistic price expectations.
You can quickly find the average days on market for a suburb using property listing websites. These will also allow you to see how long properties you’re interested in have been on the market. Your mortgage broker can provide you with a suburb and property report for any homes in which you're interested.
For free property and suburb reports, speak with one of our mortgage brokers today by giving us a call on 1300 889 743 or by filling in our free online assessment form.
3. Property Market Clock
The Herron Todd White monthly report gives us an insight into where the major cities and regions are in their property cycle, using a ‘property clock’.
Making a lower offer can work when the market is declining or is at the bottom of its cycle.
Whereas, in a rising market, the chances of your lower offer getting accepted are slim.
For example, using the image above most cities are rising or are already at market peak, it means there are no opportunities for big discounts at this point in the cycle.
)
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[meta_value] => These options are available to you when you don’t have a deposit.
105% guarantor loan
This is the best zero-deposit home loan option available in Australia. With a guarantor home loan, a guarantor (in most cases your parents) will put up their property as security so you can borrow with no deposit.Do I Qualify?
Why Should I Choose A Guarantor Home Loan?
For borrowers No-deposit loans have become an attractive option for many people who do not have the funds to contribute towards a deposit on a mortgage. You can borrow the full purchase amount plus the money needed for stamp duty or any other associated costs. Lenders Mortgage Insurance (LMI) is not required, saving you thousands. In many cases, the interest rates are exceptionally low. For Guarantors Guarantors have a fixed liability and can be pursued only for the guaranteed amount, making this a more secure option. The guarantee can be secured by either their property or a term deposit. Guarantors do not have to make the scheduled loan repayments and the guarantee can be released upon request if, at a later date, the borrower satisfies standard bank criteria and the bank agrees. Normally, this is when the borrower owes less than 80% of the value of their property.OwnHome’s Deposit Boost Loan
The Deposit Boost Loan is a 15-year loan that covers the 20% deposit you need to buy a home. You can borrow up to 100% of the property without paying LMI. The loan is available for first-time buyers and owner-occupiers.Do I qualify?
Use Equity As A Deposit
If you already own a property, there are lenders who accept home equity as a deposit.If you don’t qualify for either of these no-deposit home loan options, then you can check out these low-deposit options. ) [1015] => stdClass Object ( [post_id] => 3900 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Our lenders may ask you to provide the following documents to support your application:
Please provide our mortgage brokers with as many documents as you can, we can then work out the most suitable lender and only provide the documents that add strength to your application.
If you believe that you may have difficulty supplying all documents, please enquire online or contact us on 1300 889 743 to speak to our mortgage brokers who can assist you with your application.
) [1016] => stdClass Object ( [post_id] => 45470 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Yes! Having dependents shouldn’t stop you from qualifying for a home loan. In some cases, you may be able to make reasonable reductions to your spending to enable you to borrow more. You can typically educe your spending on discretionary or non-essential items that won’t affect your basic living expenses. Childcare and education expenses, groceries and health care are areas where you will not realistically be able make significant deductions because they are essential when you have children. Areas where you can cut spending include:
Read more about being declined for high living expenses and then give us a call on 1300 889 743 or complete our online enquiry form today.
We can help you build a strong case with evidence and apply with a lender with less restrictive borrowing power requirements.
) [1017] => stdClass Object ( [post_id] => 29159 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Which bank is best for your farm loan needs? Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out what farm loans are available to you.
) [1018] => stdClass Object ( [post_id] => 32015 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
What loan terms are available?
Yes, it’s possible to get it depending on the purpose of the loan and the property used as a security. Here is a breakdown of the commercial loan terms available with our lenders:
Call us on 1300 889 743 or complete our free assessment form so one of our mortgage brokers can qualify you with a lender that can offer you the best loan term based on your situation.
How can I get a longer term?
There are two ways to get a long commercial loan term:
With that, you can get a loan term of up to 30 years.
What if I’m borrowing at a high LVR?
Even if your Loan to Value Ratio (LVR) is high, you may still qualify for a 30 year loan term.
What if I don’t have a residential property?
Some lenders will still offer 25 year terms with an interest only period!
Will I get charged a higher interest rate?
No! You won’t be charged a higher interest rate for a loan term longer 10 or 15 years.
Why is a longer term better than a shorter term?
It may make more sense to get the shortest loan term possible so you can pay off the loan as quickly as you can but you’re also tying up your cash flow in the process.
Let’s say that you want to buy a freehold going concern so you can eventually have a commercial property as an asset.
The popular choice among commercial investors and business owners is to keep refinancing to an interest only throughout the term of the loan until the mortgage is paid off.
At that point, you can draw less money from the business because you don’t have a mortgage and you can start paying off the asset.
It essentially becomes a nest egg for the future because you can leverage the equity for future business expansion.
Not running a business?
Even you’re just buying a freehold property, getting a longer loan term increases your borrowing power so you can continue to qualify for commercial finance and buy more properties.
That’s because your fortnightly or monthly repayments are essentially smaller meaning you have less commitment and more cash flow to meet the bank’s serviceability requirements.
What are the benefits of a short term loan?
The benefits of a 10 to 15 year commercial loan term is that you’re obviously paying down the loan faster, allowing you to access more equity for investment and to refinance to a lower interest rate more often.
Of course, your monthly commitments are higher so your cash flow is tied in the commercial mortgage.
Case study
Let’s just say you want to buy commercial office space as an investment.
Your monthly repayment on a 15 year term might be $17,000. If the loan term was over 25 years, your repayments might be as low as $11,000 per month.
That gives you around $6,000 worth of cash flow to boost your borrowing power to get a business loan or equipment finance for your business or if you simply have plans to expand your commercial investment portfolio.
Interest only periods for 5 years are pretty common with banks so what you should be really thinking about is after the interest only period.
Are you going to have 10 years or 20 years to pay off the commercial loan?
Complete our free assessment form to speak with one of our mortgage brokers.
We can properly assess your situation to find a loan term that best meets your needs and will help you achieve your financial goals.
) [1019] => stdClass Object ( [post_id] => 30482 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Predicting defaults isn't any easy process.
Typically, they can only be identified after you miss settlement.
It's then followed by a lengthy process to nullify contracts and resell the asset.
Off the plan buyers
When the property market slows down with a lot of people buying off-the-plan, then during the time of settlement, there's the risk that property values will drop compared to the contract price of the property.
This means that when you settle the property, it's valued at a much lower price than what it was contracted for. You may then be required to top up your deposit to make their LVR (Loan to Value Ratio) stack up to what they agreed on.
They can also work out another arrangement with their lender but this can be a difficult if you consider the recent situation of the housing market.
How can regulatory changes increase my settlement risk?
Regulatory changes made by government authorities more or less add to your settlement risk.
For instance, around the end of 2015, the Australian Taxation Office (ATO) launched a new program to ensure that property owners were meeting their tax obligations. This program affected property investors, significantly lowering their investment property borrowing power.
As a result, the settlement risk also increased because of the more restricted lending criteria set by the banks.
If you would like to know more about how these changes can affect your settlement risk then call us on 1300 889 743 or fill in our free online assessment form today!
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As with vacant residential land, lenders generally want to know whether they can easily sell the land in the event that you default on your vacant commercial land.
That's why they take into consideration the following:
Purpose
Some lenders may require you start developing the commercial land within the next one to two years and will want to see evidence of this prior to approving your loan.
However, some lenders will allow so-called "land banking", which can potentially pay significant dividends when you later decide to sell the land to a property developer.
Location and zoning
Commercial land can either be zoned com for commercial use (either industrial, commercial/retail or for agricultural use) or will allow for residential development.
Depending on the location and local demographics, this can either increase or reduce the potential market for the land.
Banks are risk-averse so they want to know whether there is a market for the property.
However, if your intention is to buy the land as a Greenfield site to sell later at a higher price to developers, some lenders may consider this depending on the size of the land and your overall financial situation.
Land size
This is usually the first thing banks will consider.
Generally, the larger the land size, the less you can borrow but there are exceptions if there is a house on the property. This is usually the case with farmland.
Services
The property must be able to connect to the electricity grid without excessive costs.
The ability to access town water and sewerage are usually also required although, for farmland, which falls under the agribusiness side of lending, this may not be necessary since tank water and septic tanks can be installed instead.
Access
This requirement is even more essential when it comes to commercial loan.
Access means that the land must have direct access using an all weather road.
Dirt roads are acceptable as long as they're well maintained and the property can be accessed by a standard vehicle, not a 4WD.
Why do banks allow land banking?
When it comes to residential land, banks are highly against land banking, which is a form of speculative investing.
This is because you're relying on zoning changes or, in the case of residential buyers, you're buying on the pretence that the land will eventually be subdivided.
In the meantime, land prices can fluctuate dramatically, particularly in rural areas which is a risk lenders aren't willing to take.
When it comes to vacant commercial land, some lenders will allow land banking since you're borrowing at a lower Loan to Value Ratio (LVR).
You also generally need to have a strong income and asset position in order to qualify for this type of lending.
Then again, some other banks may require you to start developing within 1-2 years.
It all depends on the lender and the strength of your application. We can help!
Please give us a call on 1300 889 743 to speak with one of our mortgage brokers about the type of investment you're looking to make.
What about contaminated land?
Soil, land and groundwater contamination is common with commercial land but it's often overlooked by investors.
Contamination can affect all types of commercial land and some typical examples include properties that were previously used by a factory, petrol station or for farming.
Common contaminants include:
Will the bank accept contaminated land?
It really depends on what you intend to do with the land.
For example, you may come across vacant land that was previously used as a landfill or garbage dump and you find out that the land or the water supply is contaminated.
If your intention was to taking advantage of zoning changes and develop a block of units, the bank may not accept your application since your development project would be denied without the all clear from the Environmental Protection Agency (EPA).
As of their valuation of the property, the bank valuer may indicate that a specialised environmental site audit should be undertaken.
It's crucial that you don't down a deposit down until you get pre-approved for the commercial loan.
Otherwise, you could be sued by the vendor (seller) for not having the finances need to proceed with the sale, not to mention the fact that you'll lose your deposit.
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Don’t meet all of the below criteria? Unfortunately we cannot assist you.
The multi unit residential development must:
If you meet the above criteria then you can borrow up to 90% of the property value with select lenders.
Please call us on 1300 889 743 or complete our online enquiry form and we can help you qualify for a split contract construction loan.
) [1022] => stdClass Object ( [post_id] => 3378 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Lenders will calculate your income based on the documents you provide them with.
Most lenders require:Although most lenders require two of these documents, we have some lenders that can consider just a letter or just payslips in some situations.
To discuss your situation with an expert team, please call us on 1300 889 743 or enquire online and we can help apply with the right bank, who will accept your shift allowances.
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Mine surveyors are one of only a few select engineering professionals eligible for significant discounts including:
*This includes your taxable income and rental income. It excludes your spouse’s income.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you qualify for mine surveyor home loan discounts.
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Firstly you should discuss this option with your accountant to confirm that you are eligible and that this is suitable for you.
You can complete the electronic version of the form and submit it online for a quick assessment or you can print the form and mail it to the ATO which will take longer to assess.
Please call us on 1300 889 743 or enquire online if you would like to know further information about PAYG income tax withholding variation.
) [1025] => stdClass Object ( [post_id] => 13591 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Interest rate discounts are normally expressed as a percentage below the Bank Standard Variable Rate (BSV). Generally, with a standard professional package you can get a discount of up to 1.0% below the BSV without any negotiation.
By negotiating with the bank our brokers can often obtain the following interest rates:
Please note that the above rates are a guide only. You can view some of our interest rate specials on our website however negotiated discounts are not published.
The exact discount you can receive will depend on your profession, the amount you are borrowing and the current funding environment. There are many factors to consider when putting in a pricing request and lenders change their special pricing levels every week.
Which one of our lenders will give you the best discount? Speak to our team on 1300 889 743 or enquire online today to find out if you can qualify for a professional discount.
) [1026] => stdClass Object ( [post_id] => 53925 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => For those of you that own real estate, you can combine the debts into a low rate mortgage and reduce your repayments which in turn will increase your cash flow. The increased cash flow will give you some breathing space. For example, if you have:
Whether you're buying an established financial planning practice or you want to start your own, your application should contain details on the financial position of the portfolio you want to buy and a robust business plan.
Lenders view each application on a case by case basis but this will give you some idea of how much you can borrow:
Discover if you qualify for an financial planning practice loan!
We have strong relationships with a number of commercial lenders which means we know exactly what they're looking for in an application and negotiate competitive interest rates on your behalf.
Tip: By using a residential property that you own as security for the purchase you may be able to borrow up to 100% of the purchase price of a freehold commercial property.
Speak with one of our commercial loan specialists by calling 1300 889 743 or by completing our free assessment form today.
) [1028] => stdClass Object ( [post_id] => 32214 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Need an engineering consultancy commercial loan specialist?
Speak to us and find out if we can get you approved for a competitively-priced business loan that will support the growth plans of your quantity surveyors firm.
Call 1300 889 743 or complete our free assessment form to find out if you qualify.
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Some lenders take a conservative approach when it comes to lending for supermarkets because they're often considered as specialised properties.
With our best lenders:
Do you qualify for a supermarket loan?
Call us on 1300 889 743 or complete our online assessment form to speak with one of our specialist mortgage brokers today.
How can we help?
We're experts in specialised commercial properties like independent supermarkets.
Choosing the wrong lender can quickly see your application knocked back!
Each lender has their own risk appetite and it changes all the time. As expert mortgage brokers, we're on top of these lending policy changes.
We can give you a strong chance of getting approved the first time around, negotiate a great commercial interest rate on your behalf, and help you to borrow the maximum amount you need.
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Our experienced brokers specialise in working with clients who face challenges caused by self-employment and foreign income. If your situation is similar to the Wunderlichs', we can help you secure a home loan that fits your needs. We'll assist you in verifying your income, gathering the necessary documentation, and finding a lender with flexible policies.
You can reach us at 1300 889 743 or complete our free online assessment form.
) [1031] => stdClass Object ( [post_id] => 32987 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Your home value depends on a number of things including:
You can quickly get an indication of the value of your property by looking at similar properties that have recently been sold in your area.
When you’re taking out home loan, getting an upfront valuation can significantly speed up your application.
Our solid relationship with many lenders allows us to order a free valuation for you with some banks, even before you submit your application. A number of our other lenders are also able to do upfront valuations, on a case-by-case basis.Contact one of our expert mortgage brokers to see which banks will give the best value for your property. Call us on 1300 889 743 or complete our free assessment form to find out more.
) [1032] => stdClass Object ( [post_id] => 34106 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Landfill sites are a highly-specialised type of commercial property and are very different to standard commercial real estate like office buildings, warehouses or factories. Based on that, you may be eligible for the following:
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Depending on your level of credit impairment and how well we package your SMSF loan application, you may qualify for the following with a specialist lender:
So whether you've lost your job, your business had a bad year, or you or your partner suffered illness and injury that prevented you from working, an SMSF bad credit loan can allow you to continue to invest.
Please call us on 1300 889 743 or fill in our free assessment form to speak with one of our experienced mortgage brokers about your situation.
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Yes, cashbacks are offered for a limited time. The lenders specify that you have to apply by a certain date and have the loan settled by a certain date. For the latest offers this month, please check our page on refinance rebates and cashback. Enquire with Home Loan Experts today, and we will do the hard work of home loan comparison for you. We will help you snap up a better rate and the right home loan package. Please call us on 1300 889 743 or fill in our free assessment form to consult with a Home Loan Expert broker.
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All of the major Australian banks use credit scoring to some extent.
Some lenders, such as ANZ and Westpac, rely heavily on credit scoring to make the decisions on their home loan applications.
Whereas CBA, St George and NAB tend to use a combination of scoring and manual credit assessment. They retain some ability to override a decision made by their system, however, they are still reluctant to use it.
As mortgage brokers, we are in a unique position. We know the systems used by the banks and have learnt a great deal about the way that their credit scoring algorithms work.
If you would like our help with your mortgage then please call us on 1300 889 743 or enquire online.
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Our brokers have the knowledge and experience to communicate with the banks effectively and argue your case for you!
Not only that, but if one bank just can’t accept your situation we are not limited by this. We don’t just have one set of policies to work with, but have a variety to choose from as well as the skill to match your needs with the right lender.
Our brokers are used to dealing with tough scenarios and have the ability to think outside the box.
We know how to present your application to the banks and get it approved! Speak to an expert today by calling us on 1300 889 743 or fill in our free assessment form.
) [1037] => stdClass Object ( [post_id] => 8122 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => With a fast refi, your new lender can certify your documents and electronically send the funds to your current bank, known as the Outgoing Financial Institution (OFI). This means that your refinance will be quick, simple and managed by your new lending institution, minimising the stress and complication involved.
There are many benefits of a fast refinance:
Call us on 1300 889 743 or enquire online to find out which banks can help you with a fast refi loan.
) [1038] => stdClass Object ( [post_id] => 242 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => You can borrow up to 80% of the value of your property up to a maximum of $1,000,000. If you are borrowing 60% of the value of your property then some of our lenders have no maximum loan size. Other lending policy can be quite complex, however as a general rule, these factors will influence your application:How can we help?
) [1039] => stdClass Object ( [post_id] => 32510 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
You have the option to apply for an overdraft facility as soon as your business loan is approved by the lender.
You're essentially spending "over" what you have in your business bank account at any given time so you generally have to meet the following requirements:
There can be many reasons why you need an overdraft facility and as specialist mortgage brokers, we can find you a lender that understands the needs of business owners.
For example, if you're running a glass manufacturing business, you can provide financial evidence of the costs of producing a product and the time lag in actually receiving payment from a client.
Discover if you qualify!
Call us on 1300 889 743 or complete our free assessment form to speak with one of our business loan specialists.
) [1040] => stdClass Object ( [post_id] => 942 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Due to the complexity of trust loans and the fact that many banks will try to give you a more expensive business loan, it is critical that you obtain the help of finance specialist.
If you are looking for an Australian mortgage broker who specialises in discretionary trust loans, speak to us on 1300 889 743 or enquire online to discuss your situation with one of our mortgage brokers.
) [1041] => stdClass Object ( [post_id] => 184 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>How will low doc lenders approve my loan?
Most lenders require that you have a minimum of a 20% deposit and that you have an ABN to prove that you have been self employed for the last two years.
But this isn't the case with all lenders.
Rather than risking a decline, speak to an experienced broker who will help you apply with the right lender.
Don't just look at the interest rate
Even though the interest rate is low, there may be other hidden costs. To find out which loan is the cheapest, take a holistic approach and look at the cost of the loan including fees and other charges.
In particular, for low doc loans, there's often LMI or a risk fee charged if you borrow more than 60% of the property value. These fees can vary significantly between different lenders.
Low doc loans should be treated as temporary loans
It's recommended that you refinance to a full doc loan once you have completed your tax returns. So when choosing your low doc lender, it is much more important to take into consideration the application fee and LMI or risk fee, rather than just the interest rate.
Consider how many years you are likely to keep the loan for and then work out the total cost over that term. This gives you a true comparison between different options.
Can your broker access these lenders?
Unlike most mortgage brokers, our head broker group allows us to form relationships with any lender.
We work with lenders that some of our competitors haven't even heard of! So you can be sure that we can get your home loan approved at a competitive interest rate.
You can view our full panel of lenders for more information.
Speak to a mortgage broker today!
To find out which lender has the right low doc loan for your circumstances, contact one of our expert mortgage brokers.
Enquire online or call us on 1300 889 743 and find out how to get your home loan approved.
) [1042] => stdClass Object ( [post_id] => 68110 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>With expats and international students migrating to Australia and interest rates in homebuyers’ favour, it’s time to dive into the housing market. Whether you’re a first home buyer or seeking another investment, the forecast is looking good for the Australian market. 
Our mortgage brokers know exactly which banks have flexible lending policies and can work with you to get the amount you need. We have 50+ lenders on our panel, so you’re bound to get the best deal based on your situation. Reach out to us on 1300 889 743 or fill in our online assessment form today to find out if you qualify.
) [1043] => stdClass Object ( [post_id] => 17122 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Most banks want to see a clear credit history for their borrowers and will not approve loans for people with any type of bad credit. A few will review and consider applications on a case by case basis. For the banks that can consider your application, you will not be able to borrow more than 80 per cent of the purchase price, so you will need a large deposit. Having a strong financial position and a mortgage broker that can help you to present your case can help. If we can assist you to qualify with a bank, then you will receive the same low interest rates as someone without an adverse credit history or court writ. Please call us on 1300 889 743 or enquire online to find out more.
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If they’re happy to, your parents can actually gift you the money for the deposit to buy a property.
Your parents can gift you the money they have in their savings account, through the sale of assets, such as a car, or an inheritance.
The banks usually require parents to evidence that the money is a gift and not a loan that needs to be repaid. A gift letter that is signed by your parents will suffice as proof of this with most lenders.
Some lenders may also have additional requirements such as requiring the funds from the gift to be in your account before you apply.
It really depends upon which lender you apply with so call us on 1300 889 743 or complete our free assessment form to speak with one of our gifted deposit specialists.
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2018 saw all of Australia's largest banks exit SMSF mortgage approvals, namely:
We're not entirely sure what decision lenders like Macquarie Bank and Bank of Queensland (BoQ) will make but watch this space.
What we do know is that less than a handful of second-tier lenders are now willing to consider SMSF mortgage applications.
Call us on 1300 889 743 or complete our online enquiry form and we can help you qualify for a loan to purchase residential property for your SMSF.
) [1046] => stdClass Object ( [post_id] => 30533 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>There are a number of ways a family can buy a home or investment property together.
For instance, a son or daughter buying a house with the help of their parents, an elderly couple buying a home with the help of their son or daughter and so on.
Each situation has a unique structure and is viewed differently by different lenders.
Parents buying a home for their adult child
Parents often help their adult child buy a property if their child is still a student or is just starting out. They do this by providing their property to the lender as a guarantee for the loan.
This is commonly known as a guarantor home loan.
Ultimately, the parents will be liable if their son or daughter can’t meet their home loan obligations. They will have to either pay off the loan in their child's place or sell their property entirely.
With a guarantor loan, you can borrow 100% of the property price plus an additional 5% to 10% for associated costs such as legal fees and stamp duty.
Adult children buying a home for their parents
Lenders often tend to restrict the borrowing power of mature borrowers.
For example, if you're over the age of 40 then the lender may lower your loan term. This is done to make sure that you'll repay the home loan before you reach the standard retirement age of 65.
If you're over the age of 50 then it may almost be impossible to get a loan approval. You will be required to provide extensive home loan documents and an exit strategy to show that you can repay the loan before you retire.
In this situation, you can ask your adult children to help you buy a home or investment. This works similar to a guarantor loan.
The adult children place their property as a security or guarantee for your mortgage. They will ultimately be liable if you default on your home loan and will have to pay off your mortgage for you.
This gives you a better chance to get approval for a home loan.
A family buying a home together
Some lenders allow families to buy a home or investment property together.
In this situation, the parents often provide equity from their property or provide the deposit and the children provide their income to cover the repayments.
The loan can also be split into multiple accounts and each member can make their own repayments in their respective accounts.
These structures can be used with other members of the family as well. Call us on 1300 889 743 or fill in our free online assessment form for more information on how you can borrow together with your family.
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Some lenders are better than others!
Call us on 1300 889 743 or complete our free assessment form and we can match you with child care centre commercial loans that meet your needs.
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Mortgage insurance conditions often change depending upon which country is involved.
Australia
In Australia almost all loans that are over 80% loan to value ratio (80% LVR) require LMI. For low doc loans, LMI is required when over 60% LVR is borrowed.
This means a borrower paying less than a 20% deposit (down payment), or a 40% deposit respectively, is required to pay LMI.
Follow the link to find out more about Australian lenders mortgage insurance.
UK
The loan to value ratio (known as LTV in the UK) depends upon the lenders. It can vary from approximately 75% LTV, to 90% LTV for lower risk loans. Any loan amount over these values is known as a high loan-to-value advance.
Lenders can choose to cover their risk in ways other than a mortgage indemnity guarantee (MIG). In this situation, the charge may be labelled an ‘additional security fee’, or a ‘high lending fee’, amongst other things.
If you have your deposit, or can prove you have saved money over a period of time (determined by the bank), the lender may waive MIG. However if you do not have a deposit, it is unlikely you will avoid the cost.
USA
Private mortgage insurance is similar to LMI in Australia. If a loan is over 80% of the property value, it will be required.
Once the borrower owns 20% of the equity of their property; that is, the principle is reduced to 80% LTV, PMI is often no longer needed. However, until a loan reaches 78% LTV, a lender has no obligation to cancel PMI payments.
If a borrower has been deemed high risk, they can retain the insurance payments until they are only owed 50% of the original purchase price.
Instead of charging a separate sum, some lenders will increase the interest rate of the mortgage. In this situation they will pay the insurance themselves. In fact, ‘No MI Required’ loans often involve lender-paid PMI and higher corresponding rates.
Canada
For a mortgage where the down payment is under 20% LTV, or where the loan equals at least 80% of the purchase price, Mortgage Default Insurance (MDI), or CMHC insurance, is required on a mortgage with an amortization of 25 years or less.
For loans over $1 million CMHC insurance is not needed. Since July 2012 a minimum 20% down is required on properties at this price and above.
In Canada, the main mortgage insurer is the Canada Mortgage and Housing Corporation (CMHC).
If you have an Australian property in mind and you would like to know more about your LMI payment, you can talk to us. We work with my different banks and lenders and can find the best Australian mortgages, at the most competitive rates.
Call 1300 889 743, or enquire online and one of our brokers will contact you.
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Documents required:
We know which lenders can accept your income! To speak with one of our expert mortgage brokers please enquire online or call us on 1300 889 743 for further assistance.
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For regular home loan customers, borrowing more than 80% of the property value means the lender will charge you a mortgage insurance premium, a hefty fee that protects the bank from risk, not you as the borrower.
How much does it cost?
Well, with some lenders it can work out to be around $24,000 when borrowing 90% of the property value on a $1,000,000 property.
As an eligible optical specialist, you can have this fee waived even when borrowing 95%!
Select lenders will offer you 95% waived LMI, leaving more money in your pocket to buy multiple investment properties or to simply to get your foot into the property market with the home of your dreams.
Call our mortgage brokers on 1300 889 743 or fill in our free assessment form and we can let you know how much you can save with home loans for optometrists.
Discounted interest rates are also available!
The size of your interest rate discount will depend upon:
To be clear, the interest rates available to optometrists are significantly below the rates banks advertise to the public.
We're experts at negotiating huge mortgage discounts for optometrists.
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You may not know this but you can actually get commercial interest rates at a comparable level to standard variable home loan rates.
That’s because there is considerably less risk in buying a freehold commercial property than getting finance to kick-start a business or even buying a freehold as a going concern.
If you’re buying a standard commercial property with a reliable tenant and at least a couple years remaining on the lease, you have a strong chance of getting approved.
Huge rate discounts are available
What banks never tell property investors is that their headline rates (for loans under $1 million) are negotiable. But only if you make the deal look safe for them to finance.
Lenders want to avoid risks as much as possible so if you can show that you’re willing to take on some of the risks yourself, you’re likely to get the maximum discount on your home loan.
This can be as simple as doing the following:
What about commercial investment loans upwards of $5 million?
It’s often better to go with a bank bill loan or a Bank Bill Swap Bid Rate (BBSY) facility.
The bank bill facility is linked to the bank’s cost of funds – which is generally at the Reserve Bank of Australia (RBA) official cash rate – and then a margin added on top of that determined by the amount you’re borrowing, your security and the overall risk of your application.
The bank will apply a risk rating, with ‘A’ being the best and a rating of ‘D’ considered a higher risk.
If you can reduce your LVR and you can provide full financials (full doc) that show that you’re in a good asset position with a good repayment history, this can help you get significantly reduced interest rates for larger commercial investment loans.
Call us on 1300 889 743 or complete our free assessment form and discover how can help you qualify for a great deal on your commercial investment loan.
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We can help you by looking at your entire situation and finding a bank that will lend to a trust.
Simply call 1300 889 743 or compelte our free online assessment form.
) [1054] => stdClass Object ( [post_id] => 1906 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
It can be a difficult process to find the cheapest type of loan best suited for you as there are many lenders to choose from. However, there are several things that you need to consider when choosing the right finance to take.
For small loan amounts the fees are more important than the interest rates, so you should check for any hidden fees, particularly ones associated with settlement such as legal fees and settlement attendance fees. You should also look out for any redraw fees that the lender may include in their product. Lastly, if you are a first home buyer, some lenders will be able to waive the application fee.
Call us on 1300 889 743 or enquire online, as we have softwares that can quickly compare offers from almost 40 lenders on our panel to find you the best deal.
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Discover if you qualify for an accounting practice commercial loan!
Speak with one of our commercial loan specialists by calling 1300 889 743 or by completing our free assessment form today.
) [1056] => stdClass Object ( [post_id] => 32857 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Generally speaking, it’s relatively easy to get a home loan to build a granny flat if you have enough equity in your existing property and you have sufficient income to support the new loan.
However, there are some limitations that you need to be aware of.
The loan amount
If you’re accessing less than $50,000, the banks will generally ask you to declare the purpose of the cash out but, luckily, you may not need to show evidence.
If you’re taking out more than $50,000, most lenders may ask you to provide evidence of purpose of the loan. This is particularly the case if you’re a low doc borrower.
LVR
If you’re borrowing less than 80% LVR, lenders are generally more flexible and may not need to see evidence of the purpose.
However, if you borrow more than 80% LVR, it gets a lot tighter. The banks want to know what you’re going to do with the money. In other words, they want to control the funds.
To qualify, you also need to show:
Banks have different lending criteria so it’s important that you’re aware of what they’re looking for before you apply for a home loan.
The good news is, we know some lenders that only need you to declare the purpose of the loan. You don’t need to show evidence!
Please call us on 1300 889 743 or enquire online and we will work out which lender can assist you with your granny flat investment.
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How much can I borrow?
A bigger mortgage might look hefty but our Experts are specialists at handling them. Our specialist brokers will analyse your financial situation and your current living situation to make sure your every step is ensured. Home Loan Experts can help you reach the best possible financial outcome. Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1059] => stdClass Object ( [post_id] => 33498 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>When it comes to refinancing a commercial property loan, most lenders will only consider refinancing if the loan has been paid down to 60-70% of the property value.
However, at least one of our lenders will consider a commercial loan refinance at 80% LVR (Loan to Value Ratio).
Despite this, it’s important to bear in mind that you may not always get sharpest interest rate if you refinance at such a high LVR.
What else should I keep in mind?
We’re experts in a commercial loan refinance so call us on 1300 889 743 or complete our free assessment form and we can let you know if you qualify.
) [1060] => stdClass Object ( [post_id] => 46847 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in our free assessment form so we can provide you with an indicative funding approval for a funeral parlour loan.
) [1061] => stdClass Object ( [post_id] => 46958 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Generally speaking, you'll need to meet the following criteria:
In the past few years, many lenders have pulled out of the SMSF market completely.
Borrowing limits have been pulled back, and lending criteria have gotten tighter.
We are home loan specialists that understand how to refinance a private loan to an SMSF.
Call us on 1300 889 743 or fill in our online enquiry form, and we can help you applu with a lender that will take a common-sense approach to your situation.
) [1062] => stdClass Object ( [post_id] => 35674 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Places of worship are considered to be specialised commercial properties because they're purpose-built and have a very limited market of buyers.
We can help you put together a strong case with the right lender!
Discover if we can get you approved by calling us on 1300 889 743 or by completing our online enquiry form today.
) [1063] => stdClass Object ( [post_id] => 35486 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Many borrowers often get confused about what is and what isn't genuine savings.
In all other cases (other than a gifted deposit), lump sums aren't considered to genuine savings.
A deposit from a property sale is the exception to this rule.
The fact that you have experience in making regular mortgage repayments over a few years is evidence of genuine savings.
Have you recently sold your home?
Please call us on 1300 889 743 or fill in our online enquiry form and we can help you qualify for home loan.
) [1064] => stdClass Object ( [post_id] => 72314 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
There are specialist lenders that focus on refinancing people with bad credit. Their guidelines are often more flexible than traditional banks, making approval easier. You will still have to meet their minimum requirements and usually pay a higher interest rate.
Refinancing with a specialist lender for the short term could be a good strategy if you have severe problems with your credit file, such as paid defaults, that will remain in place for some years. Then, when you are eligible for standard loan packages, you can refinance with a major lender and get a cheaper interest rate and better deal. This is the best option if you are refinancing for a cash out, flexible policies or debt consolidation.
Becoming Eligible To Refinance With A Major Bank
You are eligible to refinance out of a non-conforming loan once you meet standard bank requirements. This generally means that:
We can help you find a specialist lender and refinance with a major bank once you are eligible.
Call us on 1300 889 743 or enquire online, and we will let you know your options.
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Yes, you can.
You probably already know that most banks will not approve a loan to refinance an outstanding tax bill from the Australian Taxation Office (ATO).
However, we can help you borrow up to 90% of the value of your property (90% LVR) with a specialist lender if you meet the following criteria:
If you have equity in your property, then please call us on 1300 889 743 or enquire online to talk to one of our experienced mortgage brokers.
) [1066] => stdClass Object ( [post_id] => 36219 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Typically it's only private banks that offer this type of so-called take-out finance but we have a couple of non-bank lenders on our panel that can help.
Overall, the more units you want to finance, the lower the Loan to Value Ratio (LVR) you can qualify for.
That's because funding a large number of units means high exposure, a risk that most lenders don't want to take on.
Please call us on 1300 889 743 or complete our free assessment form to discover if you qualify for a residual stock loan.
) [1067] => stdClass Object ( [post_id] => 51467 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>One of the common mistakes we see first home buyers and even property investors make is that they start looking for properties before they’re pre-approved. We'll help you get an indicative approval for the amount that you can borrow so that you can confidently bid at auctions. However, to get started on your pre-approval, please fill in our short no-obligation enquiry form or give us a call on 1300 889 743.
) [1068] => stdClass Object ( [post_id] => 21337 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>What else makes this loan so unique is that there’s no bank guarantee! That means unlike a guarantor loan, which requires the parents or relative to put up part of the equity in their home as security (depending on how much of the property value your child wants to borrow), this loan is secured on a second mortgage on your child’s house.
Think of it as if you are the bank and the mortgage is officially “registered” with the lender. So unlike gifting a deposit, you earn interest on the amount your child is paying back, receive statements from the lender that tell you whether repayments on the loan are being made on time by your child and have a legal right to access the money at all times.
In the event that your child runs into financial difficulty and cannot meet their repayments, your property and credit file are protected!
If you would like to know more about this product or other ways to get approved for a no deposit home loan, please call us on 1300 889 743 or complete our free assessment form today!
) [1069] => stdClass Object ( [post_id] => 208 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Unlike variable rates, fixed rates are changed by lenders almost weekly. So, it is important to keep yourself updated and shop around for the best deal.Different Lenders Offer Different Rates
Banks provide cheaper rates than specialist lenders, so if you can qualify for a home loan with a bank, the above rate is the best you can find. Lenders try to price their rates so that they will make money over the term of your loan. With fixed rates, that means they have to estimate the likely future rate increases or rate cuts. The great news is that every lender has a different opinion. The end result is that one bank may offer reduced fixed rates because they believe rates will fall, while another may have higher rates, because they expect market rates to be higher over the next three years. Shopping around will save you plenty of money.Benefits of A 3-Year Fixed-Rate Period
Below are the major benefits you receive from a three-year fixed-rate period for your home loan:Bank Vs Borrower: Who Does A Fixed Rate Favour?
When you fix your interest rate you are in effect betting against the bank. The bank is estimating rates to take one direction and you are accepting their prediction and locking the rate in, usually to protect yourself from the Reserve Bank increasing the cash rate. So, a fixed rate favours whoever is correct about the future direction of rates. You need to be cautious about fixing your rate for a longer term during times of market hysteria. Banks tend to increase their fixed rates rapidly at the first sign of bad economic news. They are trying to make more money off of the market panic. The best time to fix is when the market is steady, as three-year rates tend to be lower at those times.What Happens After The Fixed Rate Period Ends?
After three years your fixed rate will expire and your loan will revert to the prevailing variable interest rate. Generally, the bank will mail you a letter a month before the expiry of your fixed rate and offer you the chance to re-lock your rate for another three years. This is a good time to contact your mortgage broker to make sure that the rate you are being offered is competitive. If you don’t re-fix the rate, then the bank will usually put you on the Bank Standard Variable rate (BSV) and hope that you don’t notice. Talk to your mortgage broker and they will negotiate with the lender on your behalf to make sure that they give you a discount below the BSV.When To Choose A 3-year Term
Three years is usually the shortest amount of time that we recommend our customers fix a loan. Fixed terms of two years or one year have very little benefit because they’re too short. Most people that have a three-year fixed rate expect short-term volatility in the financial markets.How Do I Apply For A 3-Year Fixed-Rate Loan?
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will contact you to discuss your options.
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Since offices are considered by banks to be non-specialised or standard commercial properties, you're in a strong position to borrow the amount you need.
As a general rule:
If the office is a converted residential property such as a terrace and can easily be converted back for residential use, you may qualify for a residential home loan.
What that means for you is lower interest rates and longer loan terms (up to 30 years!).
Our specialist mortgage brokers can tell you how much you can borrow!
Call 1300 889 743 or fill in our free assessment form today!
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Some lenders have strict eligibility criteria and don’t accept borrowers with defaults. However, some specialist lenders tailored to these circumstances can approve your application with a poor credit score. You can go for non-conforming lenders who are willing to overlook your credit problems and approve the loan. They have flexible requirements compared to traditional banks but tend to be more expensive with stricter repayment conditions. Such loans may also require a larger deposit.
Some lenders in our panel can approve your loan even if you have a bad credit history. Call us on 1300 889 743 or fill in our free online assessment form today!
) [1072] => stdClass Object ( [post_id] => 45223 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>The most common reason for refinancing is to switch to another lender that has a lower interest rate, but there are several other benefits and drawbacks that you need to consider before making this big decision.
People usually consider refinancing their home loan when they are coming to the end of their fixed-rate term. Also, most people consider refinancing their mortgage every 3 to 4 years, even if they’re on a variable rate. Over that time, you will have reduced your loan balance and your property value will hopefully have increased. This puts you in a strong position to shop around with other lenders and look for a better interest rate or a more flexible product.
Another common reason to refinance is if your current lender is reluctant to release equity to you for the purposes of buying an investment property. Finally, another popular reason to refinance is debt consolidation, because it allows a borrower to combine some or all of their existing debts into their home loan, which is usually at a much lower interest rate than other debt.
We know the tips and tricks to get the most from your home loan and when it’s time to say goodbye to your bank. Call us on 1300 889 743 or fill in our free online assessment form to start your home loan refinance journey today.
) [1073] => stdClass Object ( [post_id] => 32938 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Like any other type of business loan facility, the bank guarantee itself is backed by adequate security, whether it's:
With a residential property, you can get a guarantee up to 80% of the property value and with commercial property, this drops down to anywhere between 50-70% of the property value, depending on whether the property is considered standard or specialised.
For example, if you have $250,000 owing on a $650,000 residential property, you can actually get a guarantee up to $400,000.
When applying for a bank guarantee facility, you don't have to apply with the same lender that holds the loan on your residential or commercial property.
However, when it comes to using cash as security, the cash must be deposited with the same lender providing the guarantee.
Is there a limit on what bank guarantee I can get?
As long as you have sufficient security, there is no limit on the guarantee you can qualify for.
Many commercial property developers, for instance, arrange for multi-million dollar bank guarantees to pay their suppliers.
Bear in mind that in most cases the bank won't do a guarantee for less than $1,000.
If you need a bank guarantee, call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers can help you.
) [1074] => stdClass Object ( [post_id] => 60236 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Despite the pandemic and economic uncertainty, data from the Australian Bureau of Statistics (ABA) reveal borrowers seeking owner-occupied loans increased by 38.9% in the 12 months from December 2019 to December 2020. Australia's housing market is still going strong, and house prices are up in January.We're always focused on ways to improve the service and experience that we deliver to our customers.
The way do this is by actually asking our clients to rate our service and provide feedback.
Using this feedback, we're able to hold our mortgage brokers to industry-leading service level standards and Net Promotor Score (NPS) benchmarks.
We're driven by the positive impact that we can have on the lives of everyday Australians trying to buy a home, as well as a society, as a whole.
Our recognition in the social and community engagement program category is testament to our other great focus: educating Australians on how to buy a home.
Lack of knowledge leads to fear about the home loan and home buying process, and fear leads to the type of inaction that can prevent people from achieving their financial goals and long-term lifestyle dreams.
We've long recognised that property ownership is the key to unlocking these opportunities and we're humbled to be recognised for our work in the 2018 ABAs, not to mention our other industry awards.
If you'd like to start the home loan process today, please call us on 1300 889 743 or fill in our online enquiry form. Our mortgage brokers are highly-experienced and ready to help you turn your dreams into a reality.
) [1076] => stdClass Object ( [post_id] => 32111 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>You can borrow between 50-70% of the business value of an existing store or up to 65% for a new store or business such as Mad Mex.
By using an existing residential property as security for the franchise loan, however, you could borrow up to 100% of the purchase price.
We can help you do just that and refinance your home loan to a cheaper interest rate while we're at it.
In order to borrow at the maximum LVR for the value of the business, it really depends on the strength of the franchise system.
Please call us 1300 889 743 or complete our free assessment form to find out if you qualify for a franchise loan.
) [1077] => stdClass Object ( [post_id] => 374 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Enquire online or contact us on 1300 889 743 for more information on which banks will accept your bonus income as part of a serviceability assessment.
We have connections with a considerable number of banks and lenders who can provide you with a home loan at affordable rates.
) [1078] => stdClass Object ( [post_id] => 32430 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Although the process is simple enough, a business loan annual review can be a nerve-wracking experience especially if you had a bad year.
The banks are always risk-averse and don’t see the same goodwill in your business as you do.
They give you an umbrella when it’s sunny but can just as quickly take it away when it’s raining!
Preparing for a review can also be costly and time-consuming too but, depending on your loan amount and the lender, you may be able to skip it altogether.
How does a business loan review work?
As the name suggests, the reviews for business loans are conducted yearly and they’re basically a financial health check of your business to make sure that you can continue servicing your debt.
The bank will usually send an email (although it’s usually a legal requirement to send a letter) telling you that your annual review is coming up and will ask you to send through your latest business financials:
Along with these financials, the lender will take into consideration your current repayment history with the bank including missed payments and arrears and they may also provide general comments about the risks in the sector in which your business is operating.
Generally speaking, the review can take anywhere between 2-3 days.
Here’s how you can avoid a business loan review altogether
Keep your loan under $1 million
As a general rule, business loans for under $1 million typically fall within some lender’s small and medium-sized enterprise (SME) department.
These lenders have essentially decided that there’s too much work and cost involved in reviewing such a small loan facility and will waive the need for an annual review. These small loan amounts are generally set and forget.
This is great news if you just need to buy a motor vehicle, plant and machinery or equipment.
Keep your LVR low
Business loans that are for less than 50% of the value of the property that you’re using as security (Loan to Value Ratio) may also help you to avoid annual reviews.
The reason is that the bank is essentially taking on less risk so they’re happy to waive reviews.
Show a strong cash flow and business case
If you can provide an accountant-certified business plan showing cash flow projections as well as evidence of successfully running a similar-sized venture in the past, you may be in a position to negotiate on the need for a business loan annual review.
Sometimes it may just be a case of successfully running your business, meeting your financial commitments and making your business loan repayments for 2-3 years, after which, you can request to remove the need for a review.
Your mortgage broker can negotiate on your behalf!
They understand that banks would rather keep a strong business client then lose them to another bank and the mortgage broker will even help you negotiate a better interest rate on a regular basis.
Maintain a solid repayment history
This goes hand in hand with putting forward a strong business case.
Commercial loans and business finance are all about building your character as a borrower.
If you can show evidence of a strong repayment history of any current or recent loans in your name, including personal loans and a mortgage, it can work in your favour.
Avoid the annoying paperwork and focus on running your business!
If you want to avoid annual reviews, call us on 1300 889 743 or complete our free assessment form and we can help find a solution.
Will I be charged a higher interest rate?
No and you won’t be charged additional charges like a risk fee either.
By waiving the need for an annual review, the bank is essentially saying that you’re a less risky applicant.
What are the other benefits of no annual reviews?
If you don’t currently have a business loan, you may not fully understand the pain that can come with annual reviews.
With no annual reviews attached to your business loan you can:
How can we help?
We’re business loan experts. with almost 40 lenders to choose from including major banks and non-bank lenders that specialise in business finance.
Call us on 1300 889 743 or fill in our online enquiry form so we can assess your situation and finance needs and negotiate a business loan that works best for you.
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A lease doc loan does not require full evidence of your income, instead the lender relies on the strength of the rent income from the property used to secure your loan.
So they are similar to a low doc commercial loan:
Which lender can offer you the best lease doc loan for your situation? Call us on 1300 889 743 or complete our free assessment form to find out how we can help.
) [1080] => stdClass Object ( [post_id] => 20301 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Generally speaking, the lender will check to make sure the tax returns are signed and certified and backed up by notices of assessment. This is a simple fraud check to make sure that these are the tax returns you lodged with the Australian Taxation Office.
Draft tax returns are only accepted by some of our lenders if your accountant can write a letter confirming they are the final copy that will be lodged with the ATO.
You can find more information on how banks will assess your tax returns on our self-employed home loan page. Alternatively, make an online enquiry or call us on 1300 889 743
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Yes! Construction loans to build a property or standard home loans are available.
Please call us on 1300 889 743 or complete our free assessment form today.
) [1082] => stdClass Object ( [post_id] => 63990 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
High sales activity
Even though new listings are performing 15% above the five-year average, sales activity over the three months to May tracked at 37% higher than the five-year average. There are about 1:1 sales for every new listing. This high rate of absorption is keeping the number of advertised properties low, even with the rise in new listings.
High auction clearance rates
The low stock and high demand are supporting a high auction clearance rate. Auction clearance rates throughout May were at 70%, which is higher than the decade average of 64%. The median time on the market is at 25 days, while vendors are offering a 2.7% discount on property prices.
The higher-end market is driving capital gain
Across combined capitals, the upper-quartile market increased by 9.2% over the three months ending in May, compared with a 4.2% rise for the lower-quartile market. Affordability constraints are becoming more pronounced in Sydney and Melbourne’s property markets. In Sydney, the value of its higher-end market rose by 12% over the past three months, compared with a 5.2% rise for its lower-end market. Similarly, Melbourne’s higher-end market experienced a 6.5% rise over the past three months, while its lower-end market rose by 3.5%. However, in Darwin and Hobart, their lower-quartile market experienced stronger growth than the higher quartile. Darwin had a 12.4% increase in its lower quartile compared with a 4.7% rise in the upper quartile while Hobart had a 9.9% lift in its lower quartile compared with a 6.6% lift in the upper-quartile market.
Rental market underperforming
The average gross rental yield across combined capitals was 3.2%, which is lower than the yield of 3.5% at the same time last year. Almost all capital and non-capital cities (except for Darwin, Perth and regional Western Australia) had a drop in rental yield. Sydney and Melbourne are experiencing weak rental conditions due to closed international borders. The house rents in Sydney rose 2% and unit rents rose 1.8% over the past three months. House rents in Melbourne rose 0.9% and unit rents were up 0.4%. However, Darwin and Perth have tight rental markets. In Darwin, house rents were up 21.9% over the past year, while unit rents were 17% higher. Perth’s house rents rose by 16.6% while unit rents rose 14.2%.
With high sales activity and auction clearance rates, there are many potential buyers in the market right now.
Investors are returning to the market, motivated by competitive interest rates and prospects of capital gain. With property prices expected to rise throughout 2021, it’s best to get pre-approved so you know how much you can afford. Our mortgage brokers are here to help. Call us on 1300 889 743 or enquire online today. ) [1083] => stdClass Object ( [post_id] => 28346 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>FTB payments are government benefits designed to help Australian families who earn a low annual household income to cover basic living costs for them and their children.
There a number of lenders that will accept FTB Part A and B as supplementary, or even your sole source of household income, when assessing your home loan application.
As an extension of FTB, there are even some lenders that will take into account any benefits you receive through Centrelink's Large Family Supplement scheme.
In order for a bank to accept FTB and Large Family Supplement income, you'll have to meet standard lending requirements regarding your income, asset position, credit history and your overall capacity to pay back the home loan.
In addition to this:
To get a free assessment for a Family Tax Benefit home loan, please call us on 1300 889 743 or complete our free assessment form today.
) [1084] => stdClass Object ( [post_id] => 32585 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Australia's foreign investment framework was introduced to protect its national interests.
However, not all non-residents wanting to invest in Australia need FIRB approval.
Only foreign investors and temporary residents may be required to notify FIRB, as set out in the Foreign Acquisitions and Takeovers Act 1975.
Commercial property buyers who definitely won't need approval are:
Yes, that's right, expats, NZ citizens and PRs don't need commercial property FIRB approval!
If you fall into this category and you need a loan to buy a commercial property, give us a call on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers.
For foreign investors and temporary residents, it doesn't necessarily mean you need to notify FIRB of your purchase!
) [1085] => stdClass Object ( [post_id] => 1887 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Many people working in the industry have difficulty proving their full income or can vary their hours to increase their pay. Many employers in red light districts and gentlemen's clubs don't provide payslips to their employees or will only hire staff on a contract basis.
This means that many traditional lenders can't approve your mortgage.
If providing documentation may be an issue for you, please enquire online or contact us on 1300 889 743 so we can assist you in applying for a mortgage.
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Is it the right structure for me?
It's important to speak to a qualified financial professional as to whether a sole trader business structure is the right type of ownership you need for your company.
As a general rule, it's an ownership structure that makes sense if you're turning over around $50,000 or less in a single financial year and have limited liability.
Certainly, turnover of $75,000 or more will see you incur Goods and Services Tax (GST), so it's something you should factor in.
In terms of the unlimited liability surrounding a sole trader business structure, it's the type of ownership that would best suit very small operations like tradesmen, sellers of clothing or trinkets at the local market or entertainment providers, just to name a few.
It wouldn't be advisable to run a medical practice as a sole trader, for instance, purely because of the liability involved i.e. malpractice.
Once you start growing beyond the $100,000 turnover mark, you've likely acquired more assets with the profits you've made and you may need more staff for your day-to-day operations.
It's at this point you may want to consider switching from a sole proprietorship to a company business structure.
What are the advantages of a sole trader?
The tax advantages include:
Other benefits of a sole trader business structure:
What are the disadvantages?
Generally speaking, setting up a sole trader business structure for your business doesn't really make sense if:
Large asset base and unlimited liability
As you earn more from the business, you're likely going to be acquiring more assets like residential property, shares, cars and artwork.
Some of these assets are income-producing while some are more lifestyle-orientated.
Ultimately though, you're essentially putting all of this at risk in a sole trader business structure should you be sued by a customer for goods you've sold or work you've provided.
In addition to this, you have complete responsibility for all debts in the business name.
This is known as 'unlimited liability' and it means your assets can be seized by creditors should you be unable to meet your obligations.
For example, there is the risk of a client or a customer suing you in any type of business but that risk is heightened if you operate from an actual place of business like a retail store or a pub.
Accidents can and often do happen and many times they're outside of your control.
Of course, banks have the same recourse should you default on a business loan.
Hiring staff
Once you start growing beyond the $100,000 turnover mark, you're likely at a point where you need more staff to help you run the business.
This in itself adds to your liability as a business owner because you'll need to be in charge of superannuation contributions and set up workers compensation insurance.
Other drawbacks of a sole trader business structure include:
Tips on sole proprietorships
To protect yourself against the nature of unlimited liability with a sole trader business structure, it's usually recommended that you apply for:
How to get set up
The first step in setting up a sole trader business structure is to register for an ABN with the ATO.
Unless you're operating under your own first name and surname, you'll need to register a business name. This costs about $34 for a year or $79 for three years.
As explained previously, you're not required to set up a separate business account for the business but you may want to consider it.
For example, by placing your business revenue into a high-interest savings account, you can earn extra income through interest.
You can find out more information about managing your business revenue and tax considerations on the 'Self-employed people' page on the MoneySmart website.
Keep in mind that you'll be expected pay quarterly Pay As You Go (PAYG) instalments if you have reported $4,000 or more in gross business income on your last tax return.
Note: It's essential you speak to your accountant and a financial professional when making the decision to set up shop as a sole proprietor or if you believe it's in your best interest to switch to a company business structure.
Do you need help with a commercial loan?
Are you looking to buy a freehold commercial property to expand your business?
As specialist mortgage brokers, we can help you qualify for finance to buy a number different types of commercial properties including retail stores, pubs, warehouses, factories and offices.
Discover how we can get you approved and negotiate competitive commercial interest rates.
Call us on 1300 889 743 or complete our free assessment form to speak with a commercial loan specialist today.
) [1087] => stdClass Object ( [post_id] => 69353 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>What Are The Benefits Of A Private Treaty Sale For A Buyer?
For buyers, a private treaty sale offers the chance to negotiate price and terms. For example, if a buyer hasn’t secured financing for the purchase, they can negotiate for a subject-to-finance clause. Also, buyers can also make offers that appeal in different ways. For example, a buyer could make an offer that’s 10% lower than the asking price but with a subject-to-finance clause.
Alternatively, the same buyer could make an offer that’s 5% less than the asking price but without any clauses. These offers appeal to vendors in different ways. One who’s looking for the best price may be willing to accept a few clauses, whereas a vendor looking for a quick sale might accept a lower offer but with no clauses in the contract of sale. Learn how to make an offer on a house below asking price. Private treaty sales also generally have a cooling-off period, during which the buyer can walk away for any reason. This is ideal for first home buyers as there is no cooling-off period for sales at auctions.
5 Tips When Buying A House By A Private Treaty Sale
No.1 Mistake To Avoid When Buying By A Private Treaty Sale
When enthusiastic prospective homebuyers find a property they like, they tend to put in an offer immediately. Many are in such an unbelievable rush to buy that when they call us, they’re almost breathless. The problem is that a lot of them don’t have a home loan pre-approval and they need it fast. What they forget is that banks receive a lot of applications, especially the major ones, so approvals can take some time, even for the strongest borrowers. On top of that, lender policies can change quickly and without notice, which can make it harder to get a home loan. Or it could just be that the loan amount you qualify for is significantly less than you thought.
When you consider that a pre-approval strengthens your position to negotiate, it’s almost always better to get a pre-approval before you make an offer. To get pre-approved, please speak with one of our specialist mortgage brokers by calling us on 1300 889 743 or by filling in our online enquiry form today.
) [1088] => stdClass Object ( [post_id] => 23472 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can buy a commercial property in your SMSF.
Getting a sharp interest rate
Did you know that the banks have vastly different interest rates for SMSF loans used to buy a commercial property?
That's because this is a relatively new area of finance and most borrowers don't know what interest rates are on offer!
The banks charge higher interest rates, take less risk by limiting the loan amount and will not accept non-standard commercial and residential properties as security.
By using a mortgage broker, you can be sure that you're getting a competitively priced commercial loan.
) [1089] => stdClass Object ( [post_id] => 19347 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Bed and breakfast properties are assessed on a case by case.
To find out if you qualify for a bed and breakfast loan, please call us on 1300 889 743 or complete our free assessment form.
) [1090] => stdClass Object ( [post_id] => 32303 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => When it comes to investing in property, finance is king. You'll have a better chance at qualifying for an investment loan as long as you can meet the following requirements:
Most lenders are conservative when it comes to turf farm loans but we have strong relationships with the key decision makers at banks that can help.
Discover if you qualify for a sod farm loan by calling 1300 889 743 or by completing our online enquiry form today.
) [1092] => stdClass Object ( [post_id] => 35885 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Do you need a fit-out loan?
Please call us on 1300 889 743 or complete our free assessment form to find out if you qualify.
) [1093] => stdClass Object ( [post_id] => 8049 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Certain DHOAS home loan providers that can include the scheme that you receive from the Defence Force.
They can then assess the amount that you qualify to borrow.
Note that not all major banks and lenders will lend to Defence Force members that are on the scheme.
The trick to getting your home loan approved is by applying with the right bank!
We know which banks approve DHOAS scheme borrowers, so speak to us today on 1300 889 743 or enquire online, and one of our mortgage brokers will get back to you.
) [1094] => stdClass Object ( [post_id] => 32892 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
SMSF loan liquidity requirements are calculated as the percentage of the property value, not the loan amount.
Generally speaking, lenders want you to keep between 10% and 20% of the property value in cash within your SMSF account.
For example, if you're buying a property worth $500,000, the bank may require you to keep at least $50,000 cash and other assets in your super.
However, you also have to consider the other costs of purchasing a property, including stamp duty and conveyancers fees. Typically, this amounts to around 3-5% of the property value.
So, in reality, you'd need around 30% of the purchase price to cover the SMSF loan liquidity requirements, in addition to your deposit.
Bear in mind that lending policies for SMSFs vary between lenders, particularly in the way they calculate their liquidity requirement.
Please call us on 1300 889 743 or fill in our free assessment form to speak to a mortgage broker to find out how you can qualify for an SMSF loan.
What do banks look for when assessing your SMSF loan application?
When assessing your loan application, the banks look at the contribution from your job.
They also consider your gearing level, which means how much you're borrowing against the value of the property.
Then they take into account the size of your deposit. As a general rule, you need to come up with at least a 30% deposit. Although, some of the lenders in our panel accept a 20% deposit.
The lenders also look at the rental yield you're getting on the property. The higher the yield, the better.
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We commonly receive enquiries from international students on a temporary visa who wish to buy property in Australia. The difficulty is that most banks have very strict lending criteria when approving a student visa mortgage. Even if you are approved, then the lender may then impose a higher interest rate. It also depends on whether or not you are working, as your employment status can affect your ability to get approval.
Will the banks accept my scholarship income?
Are you currently receiving funds through a scholarship? Unfortunately, most banks will not accept this as part of your income when assessing your ability to repay the debt. However, if your partner is an Australian permanent resident or citizen who is working and you are applying for a loan together, the banks will take your partner’s income into account and you may be eligible to borrow up to 95%! Please see our temporary resident mortgage page for more information.
Call us today on 1300 889 743 or enquire online and we can help find you the right lender who will accept your situation as an international student.
Will I get a good interest rate?
That depends. If you have good credit and can demonstrate your ability to repay the debt, most banks will offer standard interest rates. However, as a general rule of thumb, lenders view students as high-risk borrowers and will charge a higher interest rate for the loan.
Will I need FIRB approval?
You will need Foreign Investment Review Board (FIRB) approval unless you are buying the property with a permanent resident or Australian citizen. The Foreign Investment Review Board (FIRB) is generally concerned with the type of property being purchased. The FIRB has a more flexible policy for those who are purchasing an owner-occupied dwelling. Approval is not overly complicated and is usually granted within two weeks. If you are buying real estate in the name of your parents, then different criteria will apply as they are not living in Australia.
Why is buying land and building a good option?
Buying a vacant land and building a house is an excellent option to reduce the cost of foreign citizen stamp duty as stamp duty is charged on the land value. It essentially halves the stamp duty payable. To qualify, the builder must be a Housing Industry Association (HIA) member or have an acceptable industry membership. Owner-builders are not accepted.
Get fast approval!
Bank policy is continually changing! By speaking to an expert in student visa mortgages, you can get the most accurate and up-to-date information available. Our mortgage brokers can choose from over 40 major banks and specialist lenders. This means we will shop around to find the right lender for you.
Call us now for an obligation free consultation on 1300 889 743 or fill in our enquire online form and one of our mortgage brokers will contact you to discuss the options available to you.
[wbcr_snippet id="74941"] ) [1096] => stdClass Object ( [post_id] => 70384 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>There are a few things to do and consider before you refinance your home loan to buy an investment property.
At Home Loan Experts, we can help you navigate the process and work out whether refinancing to invest is the right option for you. Give us a call on 1300 889 743 or enquire online today.
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A lot of customers have enough to cover the 20% deposit required to avoid the one off LMI fee but they want to hold on to more of their savings for a number of reasons.
It may be because you want to maximise your borrowing power for investment purposes or, if it’s for a home, you can hold on to more money and use it towards improving your property or use those savings towards moving costs.
Did you know that, depending on your profession, you may be able to have LMI waived even if you borrow up to 90% of the property value? That’s a saving of around $22,000 on a $1 million property.
The following professions are eligible for waived LMI and other high net worth benefits subject to membership of an acceptable industry association:
Some banks not only offer waived LMI for these high net worth professionals but a great interest rate as well!
Keep in mind that even if we can’t get you a low interest rate, we can still get you waived LMI and then refinance your loan in a couple of years once it is for less than 80% LVR.
Discover how much you could avoid paying with our LMI calculator.
The following professions may also be eligible for our high net worth offering but there are additional income and employment criteria to meet:
Do you qualify for waived LMI and a reduced interest rate? Call 1300 889 743 or complete our free assessment form and one of our senior mortgage brokers will let you know.
) [1098] => stdClass Object ( [post_id] => 78574 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => If you are proactive, you can take steps to mitigate the impact of the interest rate increases so you stay on track with your repayments. Let's go through seven strategies you can adopt to deal with rising interest rates.1. Review Your Budget
Take a close look at your income, expenses and debts to determine where adjustments can be made to accommodate higher repayments. Start by examining your income sources, including your salary, any investments or rental income, and any other sources. Then, make a list of all your expenses, including rent or mortgage payments, utilities, groceries, transport, insurance and any other regular bills or payments. You may also want to include discretionary spending, such as dining out, entertainment or hobbies. Once you have a clear picture of your income and expenses, identify areas where you can cut back or make adjustments. For example, you could reduce your utility bills by cutting back on energy usage or finding more cost-effective providers. You may also be able to save money on groceries by meal planning or buying in bulk. With every cash rate hike, more of household income will have to be devoted to paying the mortgage. So, it's crucial for homebuyers to review their budget and identify areas where they can reduce expenses and free up additional funds for mortgage repayments.2. Negotiate With Your Lender
You could miss out on a lower interest rate by not talking to your lender. If you are coming off a fixed rate, you could be rolling onto a higher variable interest rate than what your lender is offering new borrowers. If you talk to your lender, they might offer a lower revert rate to retain you as a customer. You can take the help of a mortgage broker in negotiating a lower interest rate from your current lender. At Home Loan Experts, our Post-Settlement Team will inform you about the revert rate that you would transition to and plan the next step.3. Refinance To A Lower Interest Rate
If your lender is not willing to offer you a competitive rate, look at other lenders that will. There are currently many lenders offering cashback rebates when you refinance with them (through the end of May). Keep in mind, however, that lenders offering higher rebates may not give the lowest rate. Decide what your financial goal is and work with a mortgage broker to get refinancing options that suit your needs. It's important to keep in mind that even if you are a homeowner who is unable to refinance at the moment, there may be options available to you in the future as your financial situation improves. Our experienced brokers can provide assistance with refinancing options, helping borrowers get more competitive interest rates and monthly repayments, consolidate debts or access equity in their homes. Contact us today at 1300 889 743 or fill out our free online assessment form and we’ll get back to you.4. Make Extra Repayments If You Can
When interest rates rise, the amount of interest charged on your home loan also increases, which makes your monthly repayments more expensive. By making extra repayments now, you lower your principal more quickly, reducing the amount of interest charged on your home loan and also paying off your loan faster, which means you'll be less affected by future rate hikes. Depending on the terms of your loan, you may be able to make extra repayments without penalty, which can save you even more money in the long run.5. Extend The Loan Term
By spreading the cost of the loan over a longer period, you will decrease your monthly payments. However, this also means paying more interest over the loan's lifespan. Before deciding to extend your loan term, carefully weigh the pros and cons. While it can help with cashflow in the short term, it may result in paying more in interest in the long term. Furthermore, keep in mind that extending your term means paying interest for a longer period. If you are considering extending your loan term, it's important to speak with your lender to understand the implications of doing so and to see if it's the right decision for you. They will provide information on how extending your term will affect your repayment amount and total interest paid.6. Get Home Loan Features Like An Offset Account Or Redraw Facility
An offset account or redraw facility can help borrowers save money by reducing the amount of interest they pay on their home loans. With an offset account, any money in the account is deducted from the outstanding balance of the home loan when calculating your monthly interest payment, reducing the interest charged on the loan. With a redraw facility, borrowers can make extra payments on their home loan and then redraw those funds if needed, which can help to reduce the outstanding balance and, therefore, the interest charged. Borrowers can potentially save thousands of dollars over the life of their home loan, which can be especially helpful in dealing with the impact of rising interest rates.7. Fix Your Home Loan
Fixing your home loan can be a good strategy for managing rising interest rates. By locking in a low fixed rate, borrowers can avoid the risk of further rate hikes and potentially save money on their mortgage repayments. Knowing exactly how much you need to pay each month can help you budget and plan your finances better. Do not hastily make that decision, though. Do your research and make sure you consult with a mortgage broker so that you understand the potential risks and benefits of fixing your loan. ) [1099] => stdClass Object ( [post_id] => 23608 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Every client is different so it all depends on what you need.
If you have a large deposit and a relatively straightforward application then we can help to get you the lowest interest rate possible. We know which banks charge the same interest rates for SMSF loans as they do for standard commercial loans.
If you have a complex situation that's difficult to approve then we'll find a lender that can accept your situation. Lenders accept different property types, income evidence, interest cover ratios, trust structures and maximum loan sizes. Of course, we'll then negotiate to make sure you get a great interest rate as well.
For large loans sizes we'll negotiate on your behalf to get you the lowest interest rate possible. In most cases, we can get you a much better deal than you can get directly with your business banker.
Call us on 1300 889 743 or fill in our free assessment form and we'll help to get your SMSF loan approved. However, we can't help you if you want construction finance since that isn't possible.
) [1100] => stdClass Object ( [post_id] => 78069 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => The present situation of the property market presents a good opportunity for buyers and investors. If you have decided to buy a home, then we are here to help. At Home Loan Experts, our experienced mortgage brokers will assess your situation and help you secure a home loan that suits your needs and financial situation. Feel free to call us on 1300 889 743 or fill in our free online assessment form today! ) [1101] => stdClass Object ( [post_id] => 31387 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
We can help you get approved for rent roll finance to buy a register of 100-200 property under management.
We know the bank’s appetite for rent rolls.
We can provide you with an indicative funding approval along with proposed loan terms and pricing.
Call us today on 1300 889 743 or complete our free assessment form to get the ball rolling on your rent roll finance.
) [1102] => stdClass Object ( [post_id] => 28441 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>You and your co-borrower won’t have to meet exceptionally difficult requirements in order to get approved:
Give us a call on 1300 889 743 or complete our free online enquiry form so one of our mortgage brokers can properly assess your situation and let you know if you qualify for a co-ownership investment loan.
) [1103] => stdClass Object ( [post_id] => 60942 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
If you don't have a pre-approval before you start looking for a home, then you could miss out on a house that you really like while trying to sort out your home loan. Pre-approval is when a lender agrees, in principle, to lend you money towards the purchase of your home.
Many first-home buyers make the mistake of putting down a deposit or worse, signing a contract of sale before getting pre-approved. They put themselves at risk of losing their deposit if they fail to get a loan approved before settlement.
Solution: Make sure you get pre-approved before looking for a property. A pre-approval is valid for between 90 to 110 days which should be enough time to make a calculated decision. You may enquire online or call us on 1300 889 743 and speak with one of our specialist brokers to help you get pre-approved.
) [1104] => stdClass Object ( [post_id] => 7916 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Making the decision to fix your interest rate is something that many borrowers are undecided on. Some decide to stick with a variable interest rate simply because they believe that rates are set to fall.
Others are concerned about the effect of rising interest rates and want to budget more effectively, choosing to fix.
So what should you do? Read on to find out how you can fix for just one year and take advantage of great discounts and low interest rates!
Think about it carefully
Before fixing your interest rate you should consider whether it will be a beneficial option for you.
The media is constantly speculating that the RBA will reduce interest rates, but until that happens, it may be better to fix.
Not even major banks can predict whether the RBA will cut rates, and if they do, not all banks will follow.
Some banks are even increasing their rates!
With the cost of business rising, many major lenders are increasing their standard variable rates independently of the RBA.
Fixing your interest rate means more stability!
Speak to your financial advisor for more information. If you want to fix your loan, please call us on 1300 889 743 or enquire online today.
We can help you take advantage of low market rates, saving you money on your loan.
) [1105] => stdClass Object ( [post_id] => 284 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>This question isn't as simple as it first appears!
Banks constantly adjust their fixed rates to match their wholesale funding costs on the money market. 10 year rates tend to be far more stable than 1 year, 3 year or 5 year fixed rates that tend to move up and down in response to short term movements in the money market.
The number one bank for your fixed rate loan will vary depending on if your loan is a low doc or not, the amount you borrow and if you qualify for a professional package.
Call us on 1300 889 743 or complete our free online assessment form and we will find out which lender is best for your situation.
) [1106] => stdClass Object ( [post_id] => 32537 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Not all Centrelink benefits are accepted by Australian lenders but we know a few that will accept child maintenance support income.
We actually know a few that will accept 100% of these support payments
To be eligible:
In order to prove that the child support income is legitimate, the lender may ask you to provide the following:
Give us a call us on 1300 889 743 or complete our free assessment form to find out if you qualify for a child support home loan.
What if the child support isn't court-ordered?
Sometimes parents may enter into an agreement regarding the payment of child maintenance income to the acting parent.
These can take the form of a:
You may agree to the payment of both cash and non-cash support such as health insurance or school fees.
Although these agreements are "formal" in that they must be CSA-certified, lenders will only accept court-stamped child support.
) [1107] => stdClass Object ( [post_id] => 2595 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Equity loans can be financed through the major banks however this type of mortgage can be processed through the non-conforming and specialist lenders who are not as strict when it comes to releasing equity.
Please call us on 1300 889 743 or enquire online to speak to a mortgage broker who can help you find the best lender who will get your equity loan application approved.
) [1108] => stdClass Object ( [post_id] => 30134 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Call us on 1300 889 743 or fill in our online enquiry form to discover if you're eligible for a home loan to buy a property with solar panels.
Why do lenders have a problem with solar power houses?
Lenders are not adverse to solar panels, specifically.
The issue is that the majority of properties off the electricity grid tend to be in rural or semi-regional locations.
Lenders are always concerned about the market for a unique property in a unique location. That's in the event that they had to sell your property in case of default.
For standard properties in metro locations, many banks will complete what is known as a "kerbside valuation" to determine that there is, in fact, a property on the block.
For unique properties, a more thorough valuation is required so there is a bigger chance for the valuer to flag potential issues with the property that will reduce their final valuation.
On top that, it can be difficult for the valuer to find comparable sales, especially if neighbouring properties are many kilometres away.
Luckily, each lender has different risk appetites and our mortgage brokers can often negotiate approvals with the key decision makers in the credit department.
) [1109] => stdClass Object ( [post_id] => 83986 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Looking for more good guidance to help you find your home? At Home Loan Experts, we’ve helped thousands of first-time buyers get approved. We are passionate and care about increasing your chances of mortgage approval. Call us on 1300 889 743 or complete our free online assessment form today.
) [1110] => stdClass Object ( [post_id] => 71427 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>When you refinance, you essentially pay off one home loan and take on another. This can lead to some unique circumstances that will temporarily change the way rating agencies – and lenders – view your credit. Here are some factors that you’ll notice make a difference. Our expert mortgage brokers can assist you with All of these issues.
Contact us at 1300 889 743 or fill in our online assessment form and we will help you refinance your home loan!
Multiple Enquiries
Any time you apply to refinance, it is processed as a new loan enquiry, even if you’re looking to refinance with your current lender. A new loan enquiry means your credit worthiness will be re-assessed, based on your current financial situation and not your previous status. This registers as a ‘hard enquiry’on your credit report. Multiple hard enquiries over a short period will hurt your credit score in the short term and lessen your appeal to lenders. This is why having a mortgage broker is so helpful. Our brokers will use their extensive knowledge of our lender base to determine which ones are likely to approve you for refinancing before you apply. This saves you from having multiple credit enquiries on your report in a short time period.
Closing Your Current Home Loan
As mentioned above, when you go ahead with refinancing your home loan, you are essentially closing your loan and opening a new one. This means you have closed a credit facility and doing so means your credit rating takes a short-term hit. If your current home loan is a longstanding account with an excellent repayment history, the effect can be even greater.
Not Making Repayments On Time
Late or missed repayments can have a huge negative impact on your credit score. People often miss their repayments while their refinancing is in progress. This often arises because people underestimate the time it takes to get refinancing approved or are not mindful of meeting their current repayments in anticipation of getting approval for the new loan. This is shortsighted and can hurt your credit score. Always remember to make all payments on time until your current account is closed.
) [1111] => stdClass Object ( [post_id] => 31505 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Fringe benefits are typically provided to high-paid employees at large organisations in recognition of the work that the job entails.
This could be for excessive travel or the need for you to live and work interstate or in another country for a period of time.
They may also just be added perks of the job role.
These are the most common types of fringe benefits an employee may receive and will usually be considered by a couple of our lenders:
The above fringe are considered industry awards.
Employers offer fringe benefits to employees because the benefits are either tax-free or attract fringe benefits tax (FBT), which is much lower than the tax for employee salaries.
What fringe benefits aren't included?
It's difficult to say what types of fringe benefits will or will not be accepted by bank because they'll be assessed on a case by case basis.
As a general rule though, the benefits have to be regular, ongoing and substantial enough, such as $5,000 as a car allowance, to be considered and added to your gross income.
Temporary benefits, such as your employer sending off on an overseas holiday, may not be accepted.
However, if you travel on a regular basis for work and are given a living allowance, then this may be considered in your fringe benefits mortgage application.
In some cases, the value of the fringe benefits you receive may be added to your income but you may limited to borrowing up to 80% of the property value.
Call us on 1300 889 743 or complete our online assessment form and we can tell you if you qualify for a fringe benefits mortgage.
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More often than not, borrowers simply accept a General Security Agreement without bothering to ask if it's really needed.
Some lenders are more flexible than others and will often waive the need for a GSA depending on a combination of the following.
You're buying a standard commercial property
Offices, warehouses, factories and retail units are a lot easier to sell compared to pubs, restaurants and commercial farms.
The credit department may only argue for a GSA when it comes to purpose-built properties.
The loan is under $1 million
In this case, a Guarantee and Indemnity Agreement or G&I will be requested instead.
This is basically a "handshake" agreement between the director and the bank.
It stipulate that they will take on fully responsibility of the debt in the event of a shortfall in selling the property and assets to cover outstanding debt.
G&I agreements are common with trade finance and invoice discounting.
You're in a strong financial position
You can show this with your last 2-3 years personal and business financials, a strong asset-to-debt ratio, and a clear credit file.
Basically, as long as you can service the debt or you have sufficient equity in a commercial property to meet the loan repayments, your broker can argue against a G&I and GSA.
You have experience and a strong business plan
Having considerable business experience can make or break a commercial loan application and it can help to determine whether you need to provide a GSA or not.
Every case is assessed on its merits!
Speak with one of our mortgage brokers about avoiding the General Security Agreement requirement.
Call 1300 889 743 or complete our free assessment form today.
) [1113] => stdClass Object ( [post_id] => 77258 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>There has never been a better opportunity to achieve your financial goals. As a result, if you're seeking a means to increase your wealth and safeguard your financial future, think about buying a rental property right away.
If you're looking for an investment loan, our mortgage brokers are the people you need. They're experts at getting loans approved, and many are property investors, so they know exactly how to address your needs. They can help you with everything from choosing the right property to filling out the paperwork. And they'll ensure you get the best possible deal on your loan.
So if you're serious about investing in property, call us today on 1300 889 743 or complete our free online assessment form.
) [1114] => stdClass Object ( [post_id] => 35503 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => For balances over $150,000, one of our lenders is offering 150 reward points for every $1,000 on your mortgage balance per year. This will be credited to you monthly and they also fee waiver to join their partnered airline's frequent flyer program. Another one of our lenders is offering 10,000 flyer points for every $100,000 if you're borrowing over $150,000. This is an introductory offer. On top that you will receive 1,000 reward points per month as long as your mortgage is at least $150,000 and 25,000 points on year 3 and 5 of your mortgage. Do you qualify for a home loan with reward points? One of our mortgage brokers can properly assess your eligibility and let you know. Please call us on 1300 889 743 or complete our free assessment form today.) [1115] => stdClass Object ( [post_id] => 76945 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Cost-of-living pressures can have a significant impact on homebuying decisions, but with the right strategies and planning, it is still possible to achieve the goal of homeownership. Our mortgage brokers are here to help. Call us on 1300 889 743 or enquire for free online today!
) [1116] => stdClass Object ( [post_id] => 8066 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Each lender has their own policies for the way that they assess LAFHA and expenses paid pre-tax from your payslip.
If you have a good income and your LAFHA benefits are permanent and ongoing, you may be entitled to borrow between 90-95% of the purchase price!
We know which banks will take your LAFHA payments into account! Enquire online or call us on 1300 889 743 to talk to a qualified mortgage broker.
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In some cases, your accountant may not be comfortable signing a letter to verify your income.
Firstly, if you don't actually earn the income that you are declaring then of course it is unlikely that any professional accountant would help you. If you are overstating your income then maybe you should consider borrowing a lower amount that is within your budget, rather then trying to convince your accountant to sign a letter to prove your income.
However, if you do earn a good income, then there are some options which may make your accountant more comfortable with confirming your declared income.
Please enquire online or call us on 1300 889 743 to find out which banks have more lenient wording for their accountant's letters.
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In most cases, you can borrow up to 80% Loan to Value Ratio (LVR) to buy unconventional homes.
If a lender can accept the property as any other established dwelling then you may be able to borrow up to 95% LVR. However, this depends mainly on how marketable the property is.
For example, lenders may be able to lend up to 95% for an unconventional home that's very close to a standard house and has a wide appeal to most buyers.
Properties with an unusual design or if it has certain problems or limitation are generally harder to sell. If you're buying or building such a property, most banks will require you to have a large deposit.
We have mortgage brokers with many years of experience in the credit industry. We know which lenders are more flexible with their lending policy and we can help you qualify for a home loan.
You can discuss your situation and loan needs with one of our expert mortgage brokers by calling us on 1300 889 743. You can also fill in our free online assessment form and one of us will contact you instead.
Why are the banks so conservative?
While eco-friendly houses made of mudbrick or straw bale are becoming more popular, from the bank's point of view, these properties are still harder to sell compared to the bread and butter type homes.
The reason is simple: unconventional homes don't appeal to every buyer. Such properties can take longer to sell because the market for eco-friendly homes, while growing, is still very limited at moment.
This is why lenders generally lend only up to 80% LVR.
It's also worth noting that lenders may be more conservative with their lending policy if you're building rather than simply buying a property made of unconventional building materials.
Another reason why the banks are conservative is that most of these properties are considered higher risk compared to a conventional home.
Lenders usually require that properties with a higher risk rating be approved by higher level credit assessors. Unless you have a strong loan application such as having other property to use as security, a strong income and a low LVR, you may not qualify.
Can I still get a no deposit construction loan?
Unfortunately, there are no longer any lenders in Australia that offer no deposit construction loans.
However, if you want to take out a no deposit home loan or construction loan, you can go guarantor instead.
Please note that most lenders will only allow a guarantee from your parents. If your guarantor is someone other than your parents, you may have to meet additional lending criteria.
With a guarantor home loan, you can avoid the requirement for a deposit as well as genuine savings. You'll also avoid having to pay Lenders Mortgage Insurance (LMI). Lenders generally charge LMI when you borrow more than 80% LVR.
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There aren't many lenders that offer no doc business loans because of the level of risk such loans carry.
None of the major banks have them on offer so you'll need to apply with a private or specialist lender.
Since they aren't regulated by the National Consumer Credit Protection (NCCP) Act, you'll need to prove your income in your application.
Lenders usually charge an application fee of 1% to 2% of the total loan value to cover their risk and processing costs.
No doc business loans are also referred to as 'asset lend' loans. This is because lenders will mostly rely on your property value being higher than the loan amount.
However, only private no doc business loans tend to be true asset lends. Although it's a no doc loan, other lenders still do some form of credit assessment when approving your loan.
How much can I borrow?
If you want to buy an investment property, you can borrow up to:
Please note that you may not be allowed to borrow for an investment property for residential purposes.
If you want to invest or buy a commercial property, you may be able to borrow up to 65% LVR.
Most lenders may not let you borrow more than $1 million on a no doc business loan. This is where a mortgage broker can help you.
We have mortgage brokers who are credit specialists with considerable industry experience. We can help you qualify for a no doc business loan at a higher LVR.
You can discuss your situation and loan needs with one of our mortgage brokers by calling us on 1300 889 743. You can also fill in our free online assessment form and one of us will contact you instead.
What does it mean for a loan to be NCCP unregulated?
No doc business loans aren't regulated by the NCCP act. This basically means there's little consumer protection for you as a borrower.
Aside from a lower LVR usually at higher interest rates, you may also have to pay exit fees.
Exit fees are banned for all NCCP regulated loans. However, lenders can charge expensive exit fees for unregulated loans. These fees are usually applicable if you make extra repayments or refinance before a fixed rate term ends.
This is where a good exit strategy comes into play. No doc mortgages usually have a term of 6 to 12 months. If you don't switch to a full doc mortgage by then, you may have to pay a higher interest rate.
It's always a good idea to enquire about the exit fees when seeking a quote for a no doc mortgage.
) [1120] => stdClass Object ( [post_id] => 32582 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Non-recourse lending is very popular among high-end commercial investors (>$10m in lending) because you don't have to provide a Director's Guarantee.
This type of finance isn't available with all lenders. You also need to be in a strong financial position to qualify and the bank will likely charge a higher interest rate.
How does it work?
Like other types of commercial property loans, the lender will take general security agreement (GSA) over the security which covers all fixed and floating assets.
The big difference is that the lender will only have recourse to sell the commercial property in the event that you default on your mortgage.
You won't have to provide a Director's Guarantee!
Instead, your commercial real estate is your sole security.
If the sale of the property isn't enough to cover the remaining debt for whatever reason, they are not allowed to then sell your assets, such as your home or residential investment property, to cover the debt.
How do I get approved?
Commercial loans don't come with "black and white" lending policies as they do with residential mortgages. Almost every deal is assessed on a case by case basis.
However, with non-recourse commercial loans, there are some basic rules that apply.
Large loans only
As a general rule, non-recourse loans are only available for loan amounts of $5 million or higher.
This goes beyond most standard commercial lending policies and would require more input from a credit assessor.
Borrowing upwards of $15 million would then move into institutional lending, and non-recourse loans become standard because most borrowers are companies with multiple directors and shareholders.
Only available for standard properties
In most cases, non-recourse commercial loans are available to borrowers intending to buy a standard commercial property like an office or a warehouse.
The market values on specialised properties like aged care facilities, backpacker accommodation, child care centres and pubs can fluctuate on an irregular basis so the bank would be taking a high risk in offering a non-recourse loan.
Generally speaking, the bank would only be willing to take on the risk for a property they are confident will increase in value or at least remain steady.
In saying that, if you're in a strong financial position and provide evidence that you can comfortably meet your loan repayments, you may be able to negotiate this with the lender.
Low LVRs
If you're after a non-recourse loan then the lender will require a lower LVR to reduce their risk.
As a general rule most non-recourse loans are at 50% LVR however this can vary depending on the strength of your application.
Strong applicants are in a better position to qualify
Generally speaking, the bank would want to see that your debt-service coverage ratio (DSCR) (how many times you can cover the principal debt and interest based on your annual income) is more than 5 times.
Banks would generally want to see a similar coverage ratio for ICR (interest coverage ratio) if you're currently running a business as your sole source of income.
If cash flow is weak, then it can be very difficult to qualify for a non-recourse commercial loan.
Complete our free assessment form, provide some basic details of your current situation and what you're planning to buy and one of our mortgage brokers can discuss commercial property loan solutions with you.
If you can come to the negotiation table with strong financials and a significant commercial property (standard), you'll have a much better chance of getting approved.
The benefits
The cons
Are there alternatives to non-recourse?
Guarantor loan
Have you considered asking your parents or your business partner to act as guarantor on your commercial loan?
You can actually qualify for a much lower commercial interest rate and as specialist mortgage brokers, we can even help you negotiate further discounts.
Bear in mind that commercial loans of $5,000,000 and higher have Loan to Value Ratios (LVRs) capped at 70%.
Because of this, your guarantor would need to cover up to 30-35% of the commercial property value with their own residential property if you're looking to borrow 100% of the property value.
Read the commercial property guarantor loan page to find out how to get approved.
Use your residential property as security
By choosing to use your residential property as security for the commercial loan, there is of course a risk that you could lose your property in the event of default.
However, you also have the opportunity to borrow the full purchase price of the property and qualify for much lower residential interest rates.
Use different banks to finance different assets
Some people choose to reduce their risk by doing business with more than one bank. By spreading out their commercial investment properties and residential properties between different lenders then it reduces the risk of one lender trying to sell everything.
Keep in mind that if a bank has your home and a commercial property as security for the one loan then they may choose to sell your home in the event that you're in financial hardship. This is because a home is easier to sell than an office or factory.
By separating your assets with a multi-bank strategy you can reduce this risk.
Do you want a non-recourse commercial loan?
If you think you may qualify for a non-recourse commercial loan, give us a call on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
We're commercial property loan specialists!
[wbcr_snippet id="75857"] ) [1121] => stdClass Object ( [post_id] => 30426 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>There are generally two ways you can borrow 100% for buying an investment property. They are:
Without a guarantor or equity in another property, you'll be limited to borrow a maximum of 95% of the property value.
Need help getting approval for a 100% investment loan?
Our mortgage brokers specialise in getting tough investment situations approved. They can help you find the right lender from our list of over 50 lenders.
Contact us on 1300 889 743 or complete our free online assessment form to speak with one of them about your situation today!
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If you have the funds available, you can purchase a residential or commercial property outright using the funds in your SMSF.
However, many people start buying property for retirement planning early on in life and haven't accrued the funds necessary, so a home loan is needed.
You can apply for an SMSF loan to purchase an investment property but, under the Superannuation Industry (Supervision) Regulations 1993 (SIS Act), the property and mortgage must be held in the name of a bare trust or custodian trust.
In this way, you meet the requirements of having entered into an arms-length purchase under a Limited Recourse Borrowing Arrangement (LRBA).
Outside of buying real estate for your self managed super fund, bare trusts are often set up as a way of legally hiding your identity as a purchaser of assets and shares.
This may be done for asset protection or estate planning reasons.
It's essential you speak to your accountant if you're looking to purchase an investment property for your SMSF.
If you're looking to start the SMSF loan process, call us on 1300 889 743 or fill in our online enquiry form and we can help you borrow up to the maximum loan amount at a great interest rate.
) [1123] => stdClass Object ( [post_id] => 13212 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>A "non-standard" loan is any loan type that is uncommon, complex and does not get processed by the bank using their normal procedure.
The banks would consider these transactions to be non-standard:
Do you need help with a tricky application? Call us on 1300 889 743 or enquire online and one of our mortgage brokers can help to get your loan approved.
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We can give you an indicative funding proposal!
All you need to provide is tell about your situation, provide some basic financials and we can come to you with some lender recommendations.
Call us on 1300 889 743 or complete our free assessment form to find out why we're commercial loan specialists.
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Don't be intimidated by rising interest rates. There are ways to manage your home loan and fulfil your dream of homeownership or keep the home you have:
At Home Loan Experts, our mortgage brokers can help you navigate the rising rate environment. Contact us at 1300 889 743 or complete a free online assessment to speak to one of our experts today!
) [1126] => stdClass Object ( [post_id] => 30776 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Low doc business loans are available! However, getting loan approval is usually difficult. This is mainly because of their higher risk.
As with other business loans, your application as well as business is graded by the bank.
Typically, banks grade loan applications from A to D, A being low risk and D being high risk. They grade businesses from 1 to 15 based on different factors. The highest grade you can get is 1A.
Business loans are always assessed on a case by case basis. Low doc business loans won't be approved unless you have a strong application and a great business loan proposal.
Different lenders assess low doc business loans differently. You can avoid stricter requirements by applying with the right lender.
How much can I borrow?
Generally, you can borrow up to 80% Loan to Value Ratio (LVR) of the property you're securing the loan against. Most banks don't go over 80% LVR but a select few non-bank lenders may.
If you're borrowing 65% of your security property, you may be able to negotiate reduced interest rates.
However, the loan amount generally depends on who you apply with and how they assess your application. If you're considered high risk, banks may not let you borrow more than $1 million.
We have highly experienced mortgage brokers that specialise in low doc business loans. You can call us on 1300 889 743 or fill in our free online assessment form to find out how much you can borrow on a low doc business loan.
) [1127] => stdClass Object ( [post_id] => 27196 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Although not entirely necessary, this is one option without which you could have a tougher time in buying a home.
Unless you’re buying the property with cash, there are many reasons why organising a mortgage broker is helpful in long-run.
Not only do brokers teach you how to buy, they also have a number of lenders to choose from and tend to have strong lender relationships to get you a great home loan deal.
Not only do brokers teach you how to buy, they also have a number of lenders to choose from and tend to have strong lender relationships to get you a great home loan deal.
You can take advantage of their wealth of knowledge and experience and the best part is that their services are completely free in most cases!
In addition to a good broker, Home Loan Experts senior mortgage brokers recommend that first home buyers look for a qualified conveyancer.
A conveyancer or solicitor is a licensed professional who looks into the legal side of things when it comes to buying a home, including the contract of sale and ensuring that there’s good title on the property.
If you don’t know any good conveyancers, we have a list of recommended conveyancers that can help you buy the residential property you have your eyes on.
Do you want help planning to buy a property?
Not only can we help you plan to buy a residential property, we can also guide you through the entire home loan process up to settlement and even support you beyond this with regular mortgage check ups.
Fill in our free assessment form or call us on 1300 889 743 and discuss your situation with us today.
) [1128] => stdClass Object ( [post_id] => 28375 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>There are a number of risks involved with high LVR investment lending, especially when it comes to 97% investment loans, which is why lenders require you to meet strict requirements.
The lending criteria includes:
Want to know if you’re eligible for 97% LVR investment loan?
Please call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will help you find out.
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Did you know that challenging a valuation has less than a 5% success rate? That’s according to Valuation Exchange (ValEx), one of Australia’s leading property valuers.
In most cases, it’s best to order a valuation from another lender:
Call us on 1300 889 743 or enquire for free online and one of our mortgage brokers can request a valuation from a different lender.
) [1130] => stdClass Object ( [post_id] => 58636 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => The requirements for getting a 95% LVR Loan are pretty strict and standard. Applicants must meet the following requirements:
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Lenders are in the business to make money. Therefore, they want to know if you can repay your mortgage. If you have bad credit records, major banks will view you as an irresponsible borrower. Although you can still get a bad credit home loan, it's going to cost you more in interest.
While not having a credit history isn't the same as having a bad credit record, it's still a risk in the lender's eyes. That's because you're unable to show any experience in managing your debt and finances.
Despite this, some lenders can consider your loan application if you have a strong income and stable employment.
Our mortgage brokers specialise in tough home loans and can help you create a strong loan application. We also have relationships with almost 40 lenders all over Australia and know which ones can offer no credit history home loans.
You can discuss your situation and loan needs with one of our mortgage brokers by calling us on 1300 889 743. You can also complete our free online assessment form and one of our mortgage brokers will call you instead.
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These vary from lender to lender, however as a general rule, the following postcodes are considered to be a high risk and are assessed by lenders under their inner city policy:
NSW Postcodes: 2000, 2001, 2004, 2008, 2010, 2011, 2017, 2019, 2077, 2112, 2113, 2114, 2138, 2140, 2141, 2142, 2144, 2148, 2150, 2154, 2170, 2193, 2200, 2205 & 2216.
NSW Suburbs: Darling Harbour, Dawes Point, Haymarket, Millers Point, Parliament House, Sydney, Sydney South, The Rocks, Eastern Suburbs Mc, Chippendale, Darlington, Golden Grove, Darlinghurst, Surry Hills, Taylor Square, Elizabeth Bay, Hmas Kuttabul, Kings Cross, Potts Point, Rushcutters Bay, Woolloomooloo, Waterloo, Zetland, Banksmeadow, Botany, Asquith, Hornsby, Hornsby Heights, Waitara, Denistone East, Putney, Ryde, Denistone, Denistone West, Meadowbank, Melrose Park, West Ryde, Concord West, Liberty Grove, Rhodes, Homebush, Homebush South, Homebush West, Berala, Lidcombe, Lidcombe North, Rookwood, Blaxcell, Camellia, Granville, Holroyd, Rosehill, Auburn, Auburn South, Arndell Park, Blacktown, Blacktown Westpoint, Huntingwood, Kings Park, Marayong, Prospect, Harris Park, Parramatta, Parramatta Westfield, Castle Hill, Casula, Chipping Norton, Hammondville, Liverpool, Liverpool South, Lurnea, Moorebank, Mount Pritchard, Prestons, Warwick Farm, Ashbury, Canterbury, Hurlstone Park, Bankstown, Bankstown Airport, Bankstown North, Bankstown Square, Condell Park, Manahan, Arncliffe, Turrella, Wolli Creek, Banksia, Brighton-le-sands, Kyeemagh, and Rockdale.
VIC Postcodes: 3000, 3001, 3004, 3005, 3006, 3007, 3008, 3009, 3030, 3067, 3141, 3181 & 3205.
VIC Suburbs: Melbourne, World Trade Centre, Moorabbin, Docklands, Chartwell, Cocoroc, Derrimut, Point Cook, Quandong, Werribee, Werribee South, Abbotsford, South Yarra, Prahran, Windsor, South Melbourne, and South Melbourne Dc.
QLD Postcodes: 4000, 4001, 4002, 4003, 4004, 4005, 4006, 4009, 4010, 4101, 4169, 4215, 4216, 4217, 4218, 4870 & 4879.
QLD Suburbs: Brisbane, Brisbane Adelaide Street, Brisbane Gpo, Brisbane-city, Parliament House, Petrie Terrace, Spring Hill, City East, Wintergarden, New Farm, Bowen Bridge, Bowen Hills, Brisbane Exhibition, Fortitude Valley, Fortitude Valley Bc, Herston, Mayne, Newstead, Eagle Farm, Eagle Farm Bc, Albion, Albion Bc, Albion Dc, Breakfast Creek, Highgate Hill, Mater Hill, Mater Hospital, South Bank, South Brisbane, South Brisbane Bc, West End, East Brisbane, Kangaroo Point, Stanley Bridge, Australia Fair, Chirn Park, Keebra Park, Labrador, Southport, Southport Bc, Southport Park, Sundale, Anglers Paradise, Biggera Waters, Coombabah, Currigee, Hollywell, Paradise Point, Paradise Point Keys, Runaway Bay, South Stradbroke, Sovereign Islands, Benowa, Bundall, Bundall Bc, Bundall Dc, Chevron Island, Gold Coast Mc, Isle Of Capri, Main Beach, Paradise Island, Paradise Waters, Sorrento, Surfers Paradise, The Spit, Broadbeach, Broadbeach Waters, Cypress Gardens, Florida Gardens, Mermaid Beach, Mermaid Keys, Mermaid Waters, Miami Keys, Moana Park, Nobby Beach, Pacific Fair, Q Supercentre, Rialto, Rio Vista, Aeroglen, Brinsmead, Bungalow, Cairns, Cairns Central, Cairns City, Cairns Dc, Cairns Mc, Cairns North, Cairns Orchid Plaza, Earlville, Earlville Bc, Edge Hill, Freshwater, Kamerunga, Kanimbla, Lake Morris, Mackinnon, Manoora, Manunda, Martynvale, Mooroobool, North Cairns, Parramatta Park, Portsmith, Redlynch, Stratford, Westcourt, Whitfield, Buchan Point, Clifton Beach, Ellis Beach, Kewarra Beach, Palm Cove, Trinity Beach, and Trinity Park. (Note that many Gold Coast Apartments are considered high density by lenders even though they are technically not in the inner city of a capital city).
SA Postcodes: 5000, 5001 & 5005.
SA Suburbs: Adelaide, Adelaide Bc, City West Campus, Halifax Street, Hutt Street, Parliament House, Rundle Mall, Station Arcade, Sturt Street, Adelaide University, The University Of Adelaide, and University Of Adelaide.
WA Postcodes: 6000, 6001, 6002, 6003, 6004, 6005, 6018, 6107, 6210, 6721 & 6722.
WA Suburbs: City Delivery Centre, Perth, Perth Gpo, Highgate, Northbridge, East Perth, Kings Park, West Perth, Churchlands, Doubleview, Gwelup, Gwelup Dc, Innaloo, Karrinyup, Woodlands, Beckenham, Cannington, East Cannington, Kenwick, Queens Park, Wattle Grove, Wilson, Barragup, Bouvard, Clifton, Coodanup, Dawesville, Dudley Park, Erskine, Falcon, Furnissdale, Greenfields, Halls Head, Herron, Lakelands, Madora Bay, Mandurah, Mandurah Dc, Meadow Springs, Parklands, San Remo, Silver Sands, Stake Hill, Wannanup, Indee, Mundabullangana, Pardoo, Port Hedland, Redbank, Strelley, Wallareenya, Wedgefield, Boodarie, De Grey, Finucane, Pippingarra, and South Hedland.
TAS Postcodes: 7000.
TAS Suburbs: Glebe, Hobart, Mount Stuart, North Hobart, Queens Domain, and West Hobart.
NT Postcodes: 800.
NT Suburbs: Darwin.
There are no locations considered to be high density in the ACT.
Note that there are variations on these postcodes between different banks.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers can let you know what restrictions apply for your unit.
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By having your parents, a friend or a business partner use a property they own as security for the business loan, you won't need to provide a deposit or any further security to get approved.
Your guarantor can borrow up to 80% of the property value of a residential property they own in equity to guarantee your business finance.
The benefits:
Call us on 1300 889 743 or complete our free assessment form to find out if you qualify for a business loan with a guarantor.
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High-end investors
Professional property investors or those wanting to buy multiple properties at once often use the services of buyer’s agents.
That’s because they often already have a portfolio to manage or they just don’t have the geographical reach to handle all of the transactions.
Luxury Or High-End Property Buyers
These people are typically looking for a luxury home for themselves and their families.
They tend to be high-income earners who work long and strange hours that prevent them from getting out there and finding a property themselves.
Also, because buyer's agents have access to unlisted sales from private vendors, big spenders can often snap up a home that the general public doesn’t even know about.
Interstate buyers
People looking to take advantage of an interstate property play sometimes don’t have the ability to travel to check out the property.
A buyer’s agent located in the area can source the property for you, negotiate with the seller and come back to you with a price without you having to leave your home.
Overseas investors
Many overseas investors prefer to purchase properties, sight unseen, in another country.
Commercial property investors
Some buyer’s agents have their own commercial specialists that can help mum and dad commercial investors buy their first shop, pub or cafe.
They understand how to analyse the financials of the business you want to buy and negotiate on price.
In that way, you can make an informed decision on whether to go ahead with the transaction.
Check out our commercial property loan page to discover how we can help you get finance for a number of different commercial property types.
Call us on 1300 889 743"> +1300 889 743 or complete our free online enquiry form if you’re looking to buy an investment property.
Is It Really Worth It?
Sure, you’re saving time and effort but bear in mind that in a seller’s market, vendors and real-estate agents are unlikely to move much on price if they have 10 other potential buyers lined up.
This is particularly true in “hot” locations where there are more buyers than houses for sale.
A buyer’s agent is generally only for people who have some knowledge of the potential market value of similar properties in the location.Otherwise, you could potentially be paying a fee for little savings on the purchase price.
You have to really be questioning what the buyer’s agent is proposing to do in terms of the sale or when sourcing a property in the first place.
Remember: They’re acting your behalf and helping you through the process but you ultimately have to run the show.
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No deposit land loans are available on the condition that you're building on the vacant land within one or two years.
In some cases, we can negotiate with the lender to waive the requirement to build.
Land loans are very location dependent.
If you're not buying in a capital city or regional centre please call us on 1300 889 743 or complete our free assessment form to find out if your location is accepted to the bank.
) [1136] => stdClass Object ( [post_id] => 50184 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>To improve your chances of a home loan approval with Afterpay:
Get a free credit report to check if your Afterpay will affect your home loan application.
Get in touch with us if you are confused about the credit requirements for banks and lenders.
Call us on 1300 889 743 or enquire online.
Our brokers will assist you with your home loan application and weed out unnecessary debts to make you an attractive borrower.
) [1137] => stdClass Object ( [post_id] => 127 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>To qualify for a low-doc home loan, borrowers still usually need to demonstrate a steady income, albeit with less documentation than traditional loans require. The typical requirements for low-doc home loans are:
Different lenders have varying policies. The maximum LVR without LMI is determined case by case, depending on the strength of the application.
What Documents Do I Need To Provide?
You must provide supporting documents to verify your declared income. Each lender has specific requirements and will accept different document types to prove your income.
The main documents that can be used to verify your income are:
Under the National Consumer Credit Protection Act (NCCP) Act, lenders require you to provide income verification before approving your home loan.
Before applying, it’s advisable to let an experienced mortgage broker review your case and documents to ensure a smooth application process.
Please call us on 1300 889 743 or enquire online, for free, for more information.
) [1138] => stdClass Object ( [post_id] => 73994 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Tips For Applying For A Westpac Mortgage
Eligibility Requirements
To apply for a Westpac home loan, the following criteria must be met:You can submit your application online or over the phone.
Documents Needed
Compare Westpac Expat Mortgages To Other Lenders
Are you an expat looking to get a home loan in Australia? Not sure which lender is right for you? Home Loan Experts’ specialist mortgage brokers can help you find the perfect lender. With our extensive experience working with lenders, we can help you narrow down options and find the best deals available for you. Talk to one of our award-winning mortgage brokers by calling us on 1300 889 743 or enquire online today. ) [1139] => stdClass Object ( [post_id] => 5814 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>As of July 2024, there have been no direct changes to negative gearing in Australia; however, the issue is a hot topic, as there are calls for reform.
Here's what's happening:
So, while there are no immediate changes, the debate on negative gearing reform is ongoing in Australia.
Are you looking for an investment loan? Our expert mortgage brokers are here to help you navigate the complexities of the lending process and find the perfect loan solutions tailored to your needs. Call us at 1300 889 743 or fill out our free online assessment form, and we’ll call you to discuss your results. Make your property investment count with expert guidance from Home Loan Experts.
) [1140] => stdClass Object ( [post_id] => 34993 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
If your proposed development is ‘permitted with consent’ then you will have to lodge a DA application with your council.
A DA is generally required for the following types of developments.
For residential building works
Developments that include a block of units, apartments or villas require a ‘multiple dwelling’ to be submitted.
For commercial building works
Do you qualify for residential or commercial development loan?
Call 1300 889 743 or fill in our online enquiry form to speak to a commercial specialist about your building project.
) [1141] => stdClass Object ( [post_id] => 33347 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
How much can I borrow
We can give you an indicative funding approval!
Call us on 1300 889 743 or fill in our free assessment form to find out if you qualify for dental practice loan.
) [1142] => stdClass Object ( [post_id] => 30490 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Banks and lenders have a strong appetite for nursing homes but not all aged care facility commercial loans are the same.
There can be massive differences in how each lender values a care home and the interest rate discounts and borrowing limits available to you.
Call us on 1300 889 743 or complete our online enquiry form to discover if you qualify.
) [1143] => stdClass Object ( [post_id] => 75315 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Saving for a deposit is a big challenge amidst rising interest rates and a higher cost of living. Different government schemes and alternative methods are there to help first home buyers purchase a dream home. But which one will best suit your situation? Get in touch with our experienced mortgage brokers to find out if you qualify for the available grants or schemes. Our specialist mortgage brokers will help you to:As a first home buyer, competing with experienced investors is a challenge, but following the steps mentioned above can help make sellers accept your offer over other investors’.
If you want help securing your dream property in this highly competitive market, contact us at 1300 889 743 or fill in our online assessment form and our specialist mortgage brokers will get back to you. ) [1145] => stdClass Object ( [post_id] => 35637 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
There can be huge differences between lenders and the interest rate they're willing to offer.
We can compare from a range of major and second-tier lenders and negotiate strongly on your behalf.
Do you want an indicative funding proposal?
Simply call us on 1300 889 743 or complete out our free assessment form, provide a few details and we can let you know if you qualify for a smash repairs commercial loan.
Why speak to a mortgage broker?
Commercial and business loans aren't regulated under the National Consumer Credit Protection Act 2001 (NCCP Act).
Because of that, lending policy isn't as black and white as it is in residential lending - in fact, it's not really there at all!
That means getting approved for a smash repairs commercial loan comes down to building a thorough application that highlights your strengths as a borrower.
For example, showing that you have business experience and strong capital to run a panel beating business.
After that, lender choice is critical.
As commercial mortgage brokers, we know what bank appetite is like for smash repairers and have strong relationships with the key decision-makers in the credit department.
We know how to make the bank want your business!
) [1146] => stdClass Object ( [post_id] => 33156 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
We can negotiate a competitive interest rate on your behalf!
Call us on 1300 889 743 or fill in our free assessment form to find out if you qualify for physiotherapy practice loan.
) [1147] => stdClass Object ( [post_id] => 1475 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Banks are generally reluctant to lend to people who’ve been working less than 6 months.
Please fill in our free assessment form or contact us on 1300 889 743 to speak to a specialist mortgage broker who can help you get approved.
) [1148] => stdClass Object ( [post_id] => 27429 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Typically only offered to particular professionals, we may be able to help you avoid LMI, a premium normally charged by the bank when borrowing more than 80% of the property value.
LMI can be quite a significant cost and, worst of all, it’s designed to protect the bank, not you, in case you default on your mortgage.
To give you an accurate estimate of the cost, for a $561,000 loan on a property valued at $660,000 (85% LVR), your LMI premium could be almost $8,000, which you’ll have to pay upfront when you settle your home loan.
To qualify for waived LMI:
Our mortgage brokers are specialists at 15% deposit mortgages with no LMI so please call us on 1300 889 743 to discuss your situation with us today.
If you don’t qualify for waived LMI, don’t worry!
Your LMI premium will be significantly cheaper anyway because the LMI premium rate drops significantly once you have more than 10% as a deposit.
) [1149] => stdClass Object ( [post_id] => 33639 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
The lenders that we deal don't provide unsecured cafe finance.
As a general rule:
We can give you provide an indicative funding approval!
Call 1300 889 743 or fill in this free assessment form to speak with one of our cafe finance specialists.
) [1150] => stdClass Object ( [post_id] => 43799 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
It goes without saying that paperwork is not a dollar-productive activity.
Neither is waiting on hold with a bank or sorting out an issue with the lender, the vendor, the real estate agent, or the conveyancer leading up to settlement.
With outsourced mortgage broker support, you can:
What Are The Benefits?
Our sister company Alaya (formally called HLE Nepal) is Nepal's largest BPO company, and we have over 5 years of outsourcing experience.
Call us on 1300 889 743 and ask for our outsourcing BDM so we can discuss your needs as a mortgage broker.
) [1151] => stdClass Object ( [post_id] => 7850 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
With most lenders, you can simply give them a call and they can fix your interest rate over the phone.
Give us a call on 1300 889 743 before you fix just to make sure you are making the right decision.
We may be able to get you a better interest rate with another lender!
) [1152] => stdClass Object ( [post_id] => 71384 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>1. Build up credit
A solid credit score is the only way to be approved for a loan with a competitive interest rate. To qualify for an average mortgage, you will need a score between 500 and 700. The best way to build your credit score is to pay all of your credit-card bills and other bills on time and have multiple lines of credit open. If you can’t meet these requirements, you can still get a home loan. Make sure you give your mortgage broker all the information they request so they can determine the best way to help you. Our specialist brokers at Home Loan Experts can help you find lenders that will approve you for a home loan if you have less than perfect credit – or even bad credit! Give us a call on 1300 889 743 or fill out our online enquiry form.
2. Find a guarantor
Parents or legal guardians are the best people to turn to for a guarantor home loan. They can help either by contributing towards the deposit or acting as guarantors on the loan – using their property as security – to satisfy the bank’s requirements. Remember that guarantors don’t have to remain involved with your property loan permanently. If you make your repayments on time, then once your Loan-to-Value Ratio is below a certain level, you can refinance to a loan without a guarantor.
3. Make a habit of saving
Lenders look for proof of consistent saving over time when determining whether to approve you for a home loan. Build good saving habits from an early age. One way to do that is to put aside at least a small amount of money each month from any kind of income. Take note of how much you can afford to save without compromising your bills and everyday expenses. Eventually, you’ll have enough saved for your deposit. To meet most lenders’ guidelines, you’ll need to show savings of át least 3% of your purchase price over at least a six-month period.
4. Build a network
One of the best ways to build an investment foundation in your 20s is to start connections with people who know property investment. Reach out to investors, contractors, agents, property managers, inspectors and mortgage brokers.
Speak to others who have a successful history of investing young and learn from their mistakes and wins.
) [1153] => stdClass Object ( [post_id] => 287 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>To find a cheap long term fixed rate, call us on 1300 889 743 or complete our free online assessment form and let our mortgage brokers shop around for you. We specialise in finding our customers the best interest rates from our panel of lenders and we can let you know which banks are willing to discount their rates below those advertised on their websites.
Lenders tend to update their fixed rates & comparison rates on a regular basis so there are no single websites that have up to date information that covers all the bank and non-bank lenders.
Due to the way our banks are funded and the regulations imposed on our banks it is a very high risk for them to offer longer term fixed rates. Their exposure to financial meltdowns and economic downturns is multiplied by offering longer term fixed rates.
As a result, few banks will offer anything longer than 5 years. Some of them have 10 years fixed rate term but none will offer longer than this.
) [1154] => stdClass Object ( [post_id] => 27508 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Our mortgage brokers are factory loan specialists who can give you an indicative funding approval based on an initial assessment.
Call us on 1300 889 743 or fill in our free assessment form today.
Our mortgage brokers can help you qualify
Commercial loans are a little different to a typical residential home loan.
Although you’ll still need to meet standard serviceability criteria regarding your income and asset position, getting approved comes down to presenting an application that highlights your strengths as a borrower.
If you can provide plenty of evidence to support your financial situation and your investment and business plans, it will open up a world of choice in terms of lenders that can offer you a significantly reduced interest rate and even allow you to borrow at a higher Loan to Value Ratio (LVR) than normal.
Being able to save money with a competitive interest rate is really helpful no matter whether you’re setting up your business in the factory (freehold going concern) or buying the property as an investment (freehold). That extra bit of cash flow can give you more peace of mind in case things go wrong.
Discover more about how the commercial loan process works and the other types of commercial properties we can help you finance by completing our free assessment form.
) [1155] => stdClass Object ( [post_id] => 30595 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
A guarantor is the only loan type that allows you to borrow 100% of the property price even if you haven't saved a deposit.
In a guarantor loan, the lenders use both the property you're buying and the guarantor's property as security for the loan.
The guarantor can also choose to limit the guarantee, which means they can only secure a part of the loan.
The banks assume that the value of the guarantee reduces your loan to under 80% of the property value. This is why the requirement to pay Lenders Mortgage Insurance (LMI) is waived by the lenders.
Our mortgage brokers specialise in guarantor loans. Call one of them on 1300 889 743 or fill in our free online assessment form and find out how you can be a guarantor yourself.
) [1156] => stdClass Object ( [post_id] => 53768 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Get in contact with your lender immediately and talk about your options. Before you contact your bank make sure you:
A repayment holiday is the last option that banks will opt for, especially if you have funds that you have linked to your redraw account.
There are other mortgage relief options available besides deferring payments:
These options will not lower your credit score if you can make timely repayments on them.
How will refinancing and debt consolidation help secure my credit score?
If you’re struggling to keep up with repayments on your mortgage, car loans, personal loans, credit card, etc. due to the coronavirus, then consolidating these debts by refinancing will help you organise your finances.
Your debts will be consolidated into your home loan, with one repayment each month. This might help you be disciplined with a repayment schedule and improve your credit in the long run.
If you choose to refinance to a lower interest rate, banks will still assess your application as a new loan, and verify information like your income, expenses, liabilities, etc.
Banks are tightening their lending policies due to COVID-19, so if you have missed payments or lost your job, then you might not be eligible for a refinance.
If you’re declined for a refinance, the enquiry will appear on your credit file.
Therefore, it is always better to do an initial assessment with our broker.
Our mortgage brokers are credit experts. Call us at 1300 889 743 or fill in our free assessment form.
) [1157] => stdClass Object ( [post_id] => 77092 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>If you have decided to step into the property market, then we at Home Loan Experts are here to help you. Our expert mortgage brokers specialise in investment loans and will assist you in finding a home loan that best suits your requirements. They will guide you throughout the process, whether you are just getting started investing in property or looking to refinance for a more competitive rate, we’ll be there with you. Call us on 1300 889 743 or enquire for free online today.
) [1158] => stdClass Object ( [post_id] => 77308 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>While there may be opportunities to purchase properties at lower prices, there are also potential concerns, such as the possibility of prices falling further and leaving the buyer with negative equity – owing more on the mortgage than the property is worth. Here are some other concerns to consider before buying a home in a declining market.
1. Concerns About Market Uncertainty
When the market is declining, it can be difficult to predict whether prices will continue to fall or when recovery may occur. Interest rates may continue to rise and there is the possibility of property prices falling further. Borrowers may end up making monthly repayments at higher interest rates for a property whose value is depreciating. These possibilities can create uncertainty for buyers, leading to hesitation before making a purchase. If the value of their property keeps decreasing, the equity in their house will fall and may even result in negative equity. In this case, they may struggle to sell the property or refinance their mortgage, leaving them in a mortgage trap. It’s important to carefully consider the concerns about market uncertainty when buying a house in a falling market. Our brokers can help you make an informed decision and minimise your risk. Call us on 1300 889 743 or fill in our free online assessment form today.
2. Limits On Your Borrowing Power
High interest rates reduce your borrowing power because your monthly repayment increases and, at some point, the bank will say that it’s too much for you to afford, especially since lenders add 3 percentage points to the interest rate you’re getting when assessing your borrowing power. For example, if you are borrowing at 4.5%, the bank will assess your ability to service the loan based on your ability to make the monthly repayments if the rate increases to 7.5%. If the lender determines that you would not be able to make such payments, you will not be approved for the loan. In this case, you should either reduce the loan amount you’re requesting or look for a cheaper property.
) [1159] => stdClass Object ( [post_id] => 21831 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Check out our sexy Home Buyer Resource Centre:
Don’t you want to supercharge your sex life? Our mortgage brokers are experts in home loans and love so call us on 1300 889 743 or fill in our FREE assessment form today!
) [1160] => stdClass Object ( [post_id] => 35373 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Firstly, banks don't advertise their business loan interest rates or how much they're willing to lend you, and they certainly won't tell if you can get a better deal somewhere else.
Secondly, you're dealing with a completely different department. Business bank managers are measured on their budget and their return on equity.
In other words, they are focused on the bank's profits whereas most other bank employees don’t really care.
As a result, many borrowers lose out when they deal with the bank directly.
Finally, and probably most importantly, business loans aren't governed by the National Consumer Credit Protection Act 2001 (NCCP Act) which means that banks don't have strict lending policies.
Isn't that a good thing?
Potentially, yes!
In fact, there are bad credit and low doc solutions available.
However, commercial lenders look at business loan applications like a return on investment. They want to know what they're getting out of lending you this money.
A business mortgage broker can help you to make the application process simple and negotiate strongly on your behalf.
Speak with one of our business mortgage brokers by calling 1300 889 743 or by filling in our online enquiry form today.
) [1161] => stdClass Object ( [post_id] => 36956 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Each lender is different!
There are only a few specialist lenders that offer common debt reducer home loans.
Getting a great interest rate let alone getting approved comes down to presenting a strong case backed up with good evidence.
We can help you get approved!
Call us on 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers.
) [1162] => stdClass Object ( [post_id] => 17870 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Find out if you qualify for a home loan by contacting our specialist mortgage brokers on 1300 889 743 or enquire online.
) [1163] => stdClass Object ( [post_id] => 54067 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => The Australian Property Institute (API) has outlined alternative valuation techniques like kerbside valuation, desktop valuation, etc. that can be used in place of full valuation, especially when:Kerbside valuation
The valuer will not enter the property, and will get an external cursory look at the property and the neighbourhood. Kerbside valuations were only accepted if the LVR was less than 80%. However, banks have revised their valuation policy and a LVR of up to 95% can be considered on a case by case basis. This valuation is used in tandem with desktop valuationDesktop and AVM valuations
Again, the valuer does not need access to the property and will provide a valuation report based on property data, recent comparable sales and property listings. Desktop and AVM valuation will use the latest and accurate information to minimize the risk of valuation uncertainty. There are some lenders who are accepting desktop valuations for LVR up to 90%. Before the pandemic, the LVR was restricted to only 80%. The biggest downfall for these valuations is that if significant renovations were done, it is completely ignored in the valuation report. Furthermore, as these are non-invasive and non-physical valuation methods, the application could be referred to credit for final assessment as lenders do not want to take the risk of valuation uncertainty. A full valuation must be done in circumstances where the property is located in high density area and the LVR is more than 70%, property floor area is less than 50 square meters and there are postcode restrictions. For more details, please talk to our mortgage brokers by calling us at 1300 889 743 at or fill in our online enquiry form. ) [1164] => stdClass Object ( [post_id] => 32473 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>As there isn't any bricks and mortar in the business, the bank will base their valuation on the financials that you provide.
You can help yourself in this process by making sure all of your financials are up-to-date and ready to present to the valuers.
Can you avoid a business valuation?
Banks tend not to do valuations on small businesses like cafes or retail store fronts. As a general rule, this applies to businesses turning over less than $1 million a year.
If you're buying an existing franchise business or a specialised business like a pub, child care centre or an aged care facility, then the lender will almost always do a business valuation.
Specialised businesses like the ones mentioned above can be easily affected by market forces and the economy so values can fluctuate on a regular basis.
In fact, because the valuer will also be taking into account the state of the industry in which the business is operating and the location, the worst case scenario is that the bank may reduce your Loan to Value Ratio (LVR) and require you to come up with more security to purchase the business.
The bank's risk appetite can change on a regular basis and even more so once a business valuation is done.
Are you just buying a commercial property to lease out?
We know how to build a strong case with the right lender so you can avoid being subject to a valuation.
Generally speaking, if you're buying a standard commercial property, you won't have to go through this process with the lender.
Call us on 1300 889 743 or fill in our free assessment form to find out if you qualify for a business loan and how we can get you a great deal.
When is the valuation done?
Once you've provided your most recent business financials, the bank will determine whether they will undertake a valuation of the business.
If so, they will contact a valuer that specialises in commercial property and businesses, the most common agencies being Manenti Quinlan and Herron Todd White.
You won't have control over the valuation at this stage and, in fact, if it's a specialised business, there would only be a handful of valuers in Australia that would have the expertise to complete such a valuation.
What methods do the banks use to valuate?
There are typically four main methods used by the banks when doing a business valuation.
Each of these methods aren't used isolation. In fact, all four methods are used to arrive at a fairly accurate valuation.
As part of this process, the valuer will want to see to the latest profit and loss statements and balance sheets for the business as well as the latest company tax return (or personal income tax return if the business is being run as a sole proprietary).
You should consider using the exact same valuation techniques when looking for a business to buy!
It can help you in negotiating a fair price with the vendor.
Asset valuation
This is the fairly straightforward process of subtracting the businesses existing liabilities (debts) from the value of its assets, such as cash, stock, equipment and machinery, and receivables.
For example, if the business has $400,000 in assets and $200,000 in liabilities, the net asset value of the business would be $200,000.
Cap rate
Working out the future return on investment (ROI) using the capitalisation rate (cap rate) is the most common way to value small businesses (SMEs).
The bank will start by calculating the average net profit of the business over the past 3 years using its yearly profit and loss (P&L) statements, subtracting the profit for one-off expenses or other irregular items during each financial year.
To work out the cap rate for a restaurant business, for instance, the bank would compare the average net profit of similar-sized restaurants.
After that, it's just a matter of dividing the net operating income by the rate of return (the cap rate) and then multiplying that by 100.
For example, the cap rate for a cafe might be 10% so for a cafe turning over $50,000 a year, the valuer might put a price tag of $500,000 on the business, not including the assets if you're also planning to the buy the property.
Earnings multiple
This involves the bank multiplying the business' earnings before interest and (EBIT) by the same ROI or cap rate (10% in the cafe example).
Comparable sales
This is usually done hand in hand with the cap rate valuation, particularly if it's if the location of the business has a significant impact on profitability.
For instance, buying a transport business in a location where mining has slowed and the majority of your clients are steel manufacturers could see the business come in way under value.
Of course, sometimes it's difficult to find comparable sales, particularly if you're buying a purpose-built property along with the business.
Sometimes valuers will have to look at businesses in the next town just to find a comparable sale, which is where the use of the cap rate comes in handy.
Will goodwill be considered?
Generally speaking, the valuer won't take into account goodwill in the business unless it's a service-based business that relies on a "key man" or specific professionals to generate profit.
For example, a client is actually dealing with or being serviced by an accountant, a lawyer or a medical practitioner rather than the business manufacturing and sell a product.
There is value in the goodwill of these specialised businesses so the bank will be willing to lend against the value of the client book or trail book in these circumstances.
It just makes sense since an asset valuation alone would understate the true value in the business.
What else will the bank take into account?
All of this contributes to the final value that the bank will place on the business, how much they're willing to lend you and the interest rate and fees they will offer you.
Ultimately, the business valuation is based on if the business were to be sold today, not in the future.
What if I'm buying the freehold property as well?
If you're buying the freehold along with the business as a going concern, the valuer will still undertake the valuation but the valuation report will be split between the freehold value and the going concern value of the business.
When valuing a commercial property, the valuer will be looking to see that the building and structure is fit for purpose and that plant, equipment, fixtures and fittings are all in good working order.
For a car yard or a petrol station, they may also run a soil test so that the land meets environmental legislation requirements.
How much does a valuation cost?
Like valuation for a residential property, you as the borrower must foot the bill for the business valuation.
The costs can vary anywhere between $2,000-$3,000 or up to $10,000 to even $20,000 if you want to buy a specialised property like a mechanical workshop or a pub as a freehold going concern.
Keep in mind though that this cost will be added to the top of your business loan (capitalised) once you're approved.
Speak with a mortgage broker today
Do you need a business loan?
Please call us on 1300 889 743 or complete our free assessment form today.
We can help you prepare for your application and go with a lender that will offer you the most competitive interest rate and terms based on your financials.
Depending on how much you're borrowing and the type of property that you're buying, we may even be able to find a lender that can waive the need for a business valuation.
) [1165] => stdClass Object ( [post_id] => 23487 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Loan term
Did you know that the term of your commercial loan is typically determined by the security that you offer to the bank?Interest only
It’s possible to negotiate interest only repayments with some commercial lenders. As a general rule they will only allow this if you have a large deposit and a strong enough cashflow to make the larger repayments when the interest only period expires.Capitalising interest
Did you know that with some types of commercial property loans you don’t need to make repayments? The interest can add onto the loan as long as your loan remains below a particular size or below a certain percentage of the property value. This is most commonly used by property developers who are land banking for the future or who are deferring repayments until the sale of their development. This option is only available if you have a sound exit strategy and significant equity in the property.Other business needs
Most banks prefer to take over all of your commercial facilities when you take out a commercial property loan. These additional facilities may be secured by either your property, a fixed and floating charge over your company or by other assets owned by the business.) [1166] => stdClass Object ( [post_id] => 32705 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1167] => stdClass Object ( [post_id] => 33019 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Yes, your mortgage broker can put in a pricing request to get the bank to match an offer from another bank. Unfortunately the system that calculates the offer that you'll get is pretty smart and tends to give loyal customers a smaller discount!
It's actually people who don't bank with CBA, and in particular who don't have a home loan with CBA, who may be able to get larger discounts.
If CBA refuses to give one of our customers a good discount then we usually get our relationship manager involved or choose to go with another lender.
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1168] => stdClass Object ( [post_id] => 57835 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Our mortgage brokers will first discuss your situation, complete a pre-assessment and then recommend a couple of suitable lender options for you.
Give us a call on 1300 889 743 or complete our free assessment form.
) [1169] => stdClass Object ( [post_id] => 59369 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Not sure which lender is right for you?
Our mortgage brokers at Home Loan Experts can help!
Give us a call on 1300 889 743 or fill in our assessment form to discuss which other lenders may be suitable for your situation.
) [1170] => stdClass Object ( [post_id] => 35739 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Do you qualify for a vineyard loan?
Call us on 1300 889 743 or complete our free assessment form for speak with one of our specialist mortgage brokers today.
How can a broker help?
Rural properties, commercial farms and agribusiness finance require particular credit expertise since every application is assessed on a case by case basis.
Vineyards and wineries are particularly specialised so getting approved for a loan comes down to a number of factors, not least of which is the location of the property.
Getting approved for a vineyard loan in New South Wales is a lot different to buying a vineyard in South Australia, for instance.
That's because the very few lenders that do specialise in agriculture refer these applications to local business managers who are in the area you want to purchase in.
Banks are very particular with the farmland they will accept so they want to see the property first-hand, usually with the valuer.
We have strong relationships with major banks and lenders which means we have a good chance of finding a relationship manager that will consider your application.
In addition, we can maximise your borrowing power and negotiate a sharp commercial interest rate by highlighting your strengths as a borrower.
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Marianne and Ben Simmons are a married couple with two dependents (5 and 8 years) - looking to purchase their first home. They both have very strong income and good credit scores (Equifax: Marianne - 940, Ben - 939). Marianne also has a single credit card with a $12,000 limit on it from CBA.
Marianne already had a pre-approval for a home loan for $1.3 million with CBA. But, they found a property worth $1.765 million and wanted to increase their loan amount. Why?
Because of the limited savings, they had to increase their loan to 90% LVR (Loan To Value Ratio). This would cost them an LMI of around $40,000 on the premium payment.
Much like Marianne and Ben, you may also like to adjust your borrowings accordingly. To get a general idea about the size of mortgage you can easily borrow, talk to one of our brokers by calling 1300 889 743 or by filling in our online-assessment form today.
) [1172] => stdClass Object ( [post_id] => 65143 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => The big four banks in Australia have mortgage relief options for individuals and business owners ranging from:
At Home Loan Experts, we can help you:
-
Call us on 1300 889 743 or enquire online today.
)
[1173] => stdClass Object
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Yes, the larger your land is the more difficult it is to finance.
Please call us on 1300 889 743 or enquire online to find out if we can finance your land.
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Lenders see vets as strong borrowers and are willing to help them finance their:
Call us on 1300 889 743 or fill in our free assessment form to find out if you qualify for veterinary practice loan.
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If you need further assistance in deciding if Freedom Lend is an ideal fit for your situation, our Experts can help! Give us a call on 1300 889 743 or fill the enquiry form.
) [1176] => stdClass Object ( [post_id] => 32824 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Large corporates, medium-sized businesses, and ultra-high-net-worth individuals tend to seek out the services of a debt advisory to provide advice on key funding decisions for the business such as raising and managing capital and debt restructuring.
The main aim is to decrease your financial risk while protecting business profitability. However, debt advisors have also been known to take advantage of desperate business owners, particularly those facing liquidation or bankruptcy.
Debt advisory vs commercial mortgage broker
Hiring a debt advisory really only makes sense if you're a high-end business turning over $10-20 million a year.
Debt advisory fees can be quite significant and there's also the fact that they tend not to bother with businesses turning over less than $10 million a year.
If you're in this boat and you're going to be using a residential property as security for the finance you're after, a commercial broker is a much cheaper option.
They also offer much of the same services although a broker would not be able to provide as much of a comprehensive review of your company's long-term financial needs as a debt advisory would.
For this, it's best to seek independent advice from a business accountant and financial planner.
So if you're in need of a commercial property loan or a business loan under $10 million, give us a call on 1300 889 743 or complete our free assessment form to speak with one of our commercial mortgage brokers.
A number of our senior brokers have extensive experience in commercial credit and know exactly how to present your loan application so you can get approved the first time around.
They can also perform a health check of the debt facilities that your business currently has to ensure that you're still on a good interest rate with fair loan terms.
What does a debt advisory do?
Like a commercial broker, a debt advisory will assess the financial needs of the company and source and negotiate this finance on your behalf.
Instead of one professional, you would have a team of advisers working with you and your company.
Essentially, they would undertake a health check of the business to identify where you need more funding and whether your current debt facilities may need to be restructured or refinanced with another lender so you're in a more financially stable position.
They generally offer the following:
What does "restructuring" mean?
) [1177] => stdClass Object ( [post_id] => 382 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>The vast majority of lenders will require a 12-month employment history in your current job before they can consider you for a home loan.
This can be problematic if you've just started a job but we can help!
We know of lenders that will accept a shorter employment duration.
Please fill in our free assessment form or call us on 1300 889 743 to speak with a mortgage broker that specialises in arranging loans for temporary employees and agency workers.
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Our best lenders can accept your home loan application if you can meet the following requirements:
Which lenders can help?
Typically banks tend to be better in understanding overtime income when compared to other lending institutions. However, each bank will still have a different set of guidelines and requirements when they assess your loan.
We have access to several lenders willing to take your overtime income into consideration when assessing your home loan for approval.
If you have received overtime income for a minimum of three months and want to make your overtime income count in a borrowing power assessment, please fill in our free online assessment form or contact us on 1300 889 743.
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The first step when buying a house in Australia is to get the right information. At Home Loan Experts, we have a free Home Buyers Course to help you get started. Our mortgage brokers are also here to help. Call us on 1300 889 743 or complete our free assessment form today.
) [1180] => stdClass Object ( [post_id] => 33126 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Will your bank tell you if there is a better offer available? Our Commercial Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1181] => stdClass Object ( [post_id] => 69422 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>If you need more assistance determining whether this lender is right for you, our specialist brokers can help. Give us a call on 1300 889 743 or fill the enquiry form.
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Still not sure which is the right lender for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
We’ll first discuss your situation, complete a pre-assessment and find a couple of suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1183] => stdClass Object ( [post_id] => 60844 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Not sure which lender is right for you?
It's best to use a mortgage broker to help streamline the process and decide which product is the best one for you.
Give us a call on 1300 889 743 or fill in our assessment form to discuss which other lenders may be suitable for your situation.
) [1184] => stdClass Object ( [post_id] => 24330 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Financing a hotel/motel (accommodation)
Financing a pub
Call us on 1300 889 743 or fill in our free assessment form so we can provide you with an indicative funding approval for a hotel loan.
How can we help?
Thanks to the relationships we have with the commercial arms of the major banks and lenders, we may be able to negotiate the following, depending on your situation:
By choosing the right lender, you can get even more out of the loan than just low fees and a strong interest rate and take advantage of the commercial loan features that work best for you.
Our commercial property loans can provide more information about how the commercial loan process works and the other types of commercial properties that the lenders on our panel can finance.
) [1185] => stdClass Object ( [post_id] => 5022 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Most lenders will require your previous four quarters’ BAS, which equates to twelve months of statements. However, some of our lenders require only two BAS!
Each quarter’s turnover will be calculated to produce a gross annual turnover. Most lenders will then use 40% of your turnover as your income.
For example, if your gross annual turnover is $300,000 per annum then lenders will consider using a maximum of 40% of this figure, which means your declared income would be $120,000.
However, some of our lenders will use 50% of your turnover, which will vastly increase your borrowing power.
Some lenders also calculate annualized income, which means they will accept the latest 2 quarters, if you had 2 bad first quarters, and annualize it mitigating the loss or lesser sales for the bad quarters.
One of our lenders uses a different percentage of your turnover depending on the industry that you work in. You can use our BAS income calculator which will work out your income using the same method as three of our lenders.
Note: Not all lenders use similar methods for the BAS income calculation, which might lead to different incomes being used.
Do you need help applying for a low doc loan with your BAS? Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will call you to discuss your situation.
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Have You Saved A Deposit?
A large enough deposit should be your priority when buying your first home. The size of the deposit required will depend on the value of the property and the amount you are borrowing, otherwise known as the loan to value ratio (LVR).
As a general rule, this is how much you will need to buy a house:
For an existing property: 9% to 10% of the purchase price
For a new property: 2% to 5% of the purchase price
Please use our FHOG Calculator to find out what grants and stamp duty exemptions you may be eligible for.
You may also be eligible for the federal government's new Scheme called the First Home Loan Deposit Scheme.
Ultimately though, the more you can save for a deposit, the better!
This helps reduce the amount you have to pay in Lenders Mortgage Insurance (LMI), a one-off fee charged when you borrow more than 80% LVR.
You can find out how LVR affects your LMI premium by using our LMI Calculator.
Most lenders have also introduced a mandatory genuine savings policy for everyone who applies for a home loan. Policies are changed regularly so please check our genuine savings page to find out if you can qualify for a loan.
Most banks would like potential borrowers to have a separate savings account with at least 5 per cent of the purchase price.
Our specialist mortgage brokers know the banks’ policies so enquire online or call us on 1300 889 743 to find out what else qualifies as genuine savings.
What Might Stop You From Getting A Loan?
The banks want a low-risk borrower, that is, someone who will pay back their loan in full and on time! The purpose of the loan and, in particular, having a good or bad credit history can have a significant impact on which lenders you can qualify with. Recently, banks have developed and implemented their credit scoring systems. This takes into account:All lenders view risk very differently, but our credit score calculator can give you a great guide of what they’re looking for.
Having a ‘black mark’ on your credit file doesn’t necessarily mean you will be declined, but you may hit a wall when a bank’s credit department handles your application. Applying with the right lender for your situation is the key to getting approved.
Not many lenders approve home loans when you have multiple or combined credit issues, whether you’re dealing with a bank or a specialist lender.
For instance, if you’re currently on a probationary period at work, earning part of your wage as a bonus and applying for a guarantor loan, a lender may accept one, but they won’t accept all three! Even with a clean credit file, your income, family situation and having unsecured or outstanding debt are just some of the factors that determine the amount you are eligible to borrow.Consolidating debt and cancelling credit cards are two ways that you can improve your borrowing power.
One of our specialist brokers can provide you with an assessment of which home loans you can qualify for. Enquire online or call 1300 889 743!
Organise Your Team
Putting together a team of experts should be done prior to negotiating on the price of the property.
To get the best advice, it’s ideal to have:
Conveyancing costs can range from around $400 all the way to $2000 but it’s important not to choose a conveyancer just because they’re the cheapest.
Most people know friends or family who have bought a house so they can recommend a solicitor for you.
Better still, have a look at our list of recommended conveyancers for each state.
Get Pre-approved
With the help of one of our mortgage brokers, you can work out which lenders you qualify with and which home loan is most suitable.
We will collect your supporting documents, such as payslips and bank statements, before submitting your application to the bank that you have chosen.
Some banks issue a pre-approval within a few hours, others can take up to a week. On the spot pre-approvals aren't always reliable, so be careful! Ask your mortgage broker for an estimate of how long it will take your lender.
If your situation is complex then you may need to provide further information or documents to the bank. This can delay the process by a few days, so it is important that you apply for pre-approval before you begin looking for a property.
A pre-approval means that your home loan is basically approved subject to the bank accepting the property that you plan to buy. Not every property is accepted by the banks, so take a look at our property types page before you make any offers.
You should aim to get pre-approval six months prior to buying a house!
Please check out the "How long does it take to get a home loan approved?" page if you'd like to know about the steps and the time-frame to getting final approval.
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A stipend mortgage is the same as any other type of mortgage, so you could potentially borrow up to 95% of the property value if:
There are other requirements for borrowing at a 95% Loan to Value Ratio (LVR), but the trick to getting approved and borrowing at a higher LVR with a stipend mortgage comes down to how the bank assesses your income.
Find out if you qualify for a stipend mortgage!
Call 1300 889 743 or complete our free assessment form to speak to one of our mortgage brokers today.
We're specialists in helping Australians who have unusual income arrangements.
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Did you know that not all lenders check the credit file of your companies?
If you have defaults, court judgements or other adverse listings on the credit file of your company then some lenders will assess you, as the director, as having clear credit.
However, if a company that you were a director of has been placed into liquidation then this will remain on your personal credit file. While this is not seen favourably, it is seen in a better light than if you had been bankrupt.
If we can provide evidence of what happened to cause your company to go into liquidation, and that this was a one off event, then we can usually help you to get approved with one of our major lenders at a competitive interest rate.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will call you back.
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Not sure if your school fits this criteria?
Call us on 1300 889 743 or complete our free assessment form and we can let you know if you qualify for a private school commercial loan.
How can we help?
Because of the relationships that we have within the commercial departments of major lenders and banks, we know which of them will allow you to borrow up to the maximum Loan to Value Ratio (LVR) for your private school purchase.
On top of that, we know which lenders can offer you a competitive price for your loan including a great interest rate.
By properly assessing what you want out of the private school commercial loan, we can choose a lender that is willing to fight for your business.
Did you know there’s more to getting a good deal than low fees and a cheap interest rate?
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Qualifying for a car yard commercial loan comes down to the strength of your financial situation and your industry experience if you're planning to run the dealership.
Secondly, it depends on the nature of the freehold you're looking to buy and whether the land and property are purpose-built.
This can have a major impact on your borrowing power.
How much can I borrow?
All car yard commercial loan applications are assessed on a case by case but, as a general rule:
Speak with a car yard commercial loan specialist today to discover if you qualify.
Call us on 1300 889 743 or fill in our free assessment form.
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Being the beneficiary of real estate is one thing, but you also inherit the outstanding mortgage.
With funeral arrangements a priority, settling the debts of the deceased is often an afterthought.
Many people in this situation have no option but to sell the property to pay out the existing mortgage, specifically when the lender calls in the loan and assesses your ability to repay the mortgage.
As often happens, your sole income alone is often not enough to pay the home loan.
Many people want to stay on their property at all costs, especially if it’s the family home.
This can cause many to fall into arrears, making it difficult to then refinance your home loan and get access to cheaper interest rates so you can continue paying your mortgage.
We have lenders that can help you if you're in this situation so please call us on 1300 889 743 or complete our free assessment form today.
) [1192] => stdClass Object ( [post_id] => 25755 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>For an indicative funding approval, call us on 1300 889 743 or fill in our free assessment form to speak with one of our commercial business loan specialists.
How can we help?
The first thing we can do is help you to build a strong case with the right lender. By doing that, we may be able to negotiate a reduced interest rate and you may be able to borrow up to the maximum Loan to Value Ratio (LVR).
Getting the right commercial loan for your situation is more than just getting a low interest rate though. Having the right features to manage your loan over the long term is just as critical so have a look at the commercial loan features page to get a better idea.
Discover more about how the commercial loan process works and the other types of commercial properties we can help you finance.
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Regardless of their situation, we're here to help if any of your clients need advice on what to do.
Our mortgage brokers are working from home and are available to assist you in any way possible.
Call us on 1300 889 743 or fill in our short assessment form to discuss your situation.
) [1194] => stdClass Object ( [post_id] => 61459 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Job figures are on an increasing trend in Australia, suggesting that the economy is moving in the right direction.
With consumer confidence improving and house prices going up, this could all be reflected in interest rates rising down the track.
If you’re looking to buy a property, now might be the best time to get pre-approval. Talk to one of our mortgage brokers by calling us on 1300 889 743 or enquire online to have a better chance at capitalising on the current market situation.
) [1195] => stdClass Object ( [post_id] => 59019 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Not sure which lender is right for you? We can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or by completing our free online assessment form.
) [1196] => stdClass Object ( [post_id] => 32936 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Are you considering Bank of Melbourne? One of our mortgage brokers can help you to compare your options!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1197] => stdClass Object ( [post_id] => 72784 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Still not sure which lender is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
We will first discuss your situation and complete an assessment, then we’ll find the best lender options for you. Give us a call on 1300 889 743 or fill in our free online enquiry form.
Not sure which lender is right for your specific needs?
It's best to use a mortgage broker to help narrow the choices and to decide what fits your financial goals.
Give us a call on 1300 889 743 or fill in our assessment form to discuss which other lenders may be suitable for your situation.
) [1199] => stdClass Object ( [post_id] => 69302 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Still not sure if a Yard home loan is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts. We will discuss your situation and complete a pre-assessment and suitable lender options.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
Call us on 1300 889 743 or fill in our free assessment form to get an indicative funding approval for a backpacker accommodation commercial loan.
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By choosing the right lender:
Please call us on 1300 889 743 or fill in our free assessment form to speak to a mortgage broker that specialises in SMSF loans.
) [1202] => stdClass Object ( [post_id] => 33013 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Qualifying for a business line of credit is similar to applying for a home loan because it is essentially another debt.
The amount you can borrow will depend on the following:
Do you qualify for a business line of credit?
Call us on 1300 889 743 or complete our free assessment form to speak with one of our business loan specialists.
) [1203] => stdClass Object ( [post_id] => 31231 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>A commercial development loan is very similar to a residential construction loan except banks are a little tighter with the Loan to Value Ratio (LVR).
Generally speaking, the following is available to you:
Speak to a commercial development loan specialist today!
Call us on 1300 889 743 or complete our online assessment form and discover if you qualify.
Why speak to a specialist mortgage broker?
A mortgage broker that specialises in getting a commercial development loan approved is a lot different to a relationship manager with a major bank and here's why.
A commercial broker is an expert at commercial credit policy and has product knowledge of a wide range of finance solutions from a number of different lenders including the major banks.
We can properly assess your situation and needs and help you put together a commercial development loan application that clearly shows your strengths as a borrower.
Once we know exactly what you're planning to do, we can not only line you up with the lender and product that's right for you, but we can deal directly with the decision makers in the credit department to ensure a faster and more seamless approval.
Because of the relationships we have, we can help you borrow up to maximum LVR based on your financial situation and even negotiate significantly reduced commercial interest rates.
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Lenders offer a number of business loan facilities including equipment finance, trade finance, overdrafts and lines of credit.
However, banks are very particular about the types of business owners they lend money to.
They want to know that they are lending money to someone who can run a profitable operation and pay their loan back with interest.
Because of this, the bank would like to see a business plan and a cash flow projection.
This shows that you've estimated your potential income and expenses over a period of time.
The forecast can be based on your historical financials or, if you're just starting out, the profit forecasts for a similar-sized business in your industry.
The main question the bank will be asking is whether your application and situation makes sense.
Good cash flow management means you can run your business smoothly so you need to explain in your application why getting finance will help you continue to do this.
Of course, it may not be a matter of needing finance for the next few pay cycles - you may be looking to expand the business.
The bank will be comparing your cash flow forecasts with industry benchmarks so be realistic with how your business stacks up.
Your accountant can help you do this but we actually know the benchmarks that some banks use when considering your cash flow forecast.
Even if your projection doesn't meet these benchmarks, we may be able to find a lender that can help.
Please call us on 1300 889 743 or complete our online enquiry form to speak with one of our business loan specialists about your finance needs.
) [1205] => stdClass Object ( [post_id] => 45334 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>A specialist or non-conforming lender may still approve your interest only loan where a major bank declines your application.
You'll pay a slightly higher interest rate, but it may be a cost worth bearing depending on your overall investment strategy.
Many of our customers who have decided to pay a higher rate with a non-conforming lender are typically at the early stages of building their portfolio with a 10-20 year plan.
For cash flow purposes, paying the higher interest rate may still be advantageous.
Conversely, it may not always be in your best interest to pay a high specialist rate for an interest only loan if you're planning to sell the property in 3-5 years’ time.
Speak with your accountant and then give us a call on 1300 889 743 or fill in our online enquiry form. We can help you make the right decision when your interest only term is coming to an end.
) [1206] => stdClass Object ( [post_id] => 63633 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Non-majors and non-traditional lenders are leading the data in terms of reduced approval times. There’s a pretty big chance this is due to lower numbers and the ability to be more agile in their processes.
The average turnaround time is sitting at 11.5 days, the second-highest since September 2019 (after December 2020 where turnaround times hit 11.6 days).
Although banks have been focused on decreasing their approval times, it doesn’t look like changes have happened yet.
To take full advantage of the current market scenario, talk to an experienced mortgage broker before finding a house you love.
Call us on 1300 889 743 or complete our free assessment form to discover how we can help to get your mortgage application approved faster.
) [1207] => stdClass Object ( [post_id] => 34929 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Do you need an agribusiness line of credit?
Call 1300 889 743 or complete this free assessment form to speak with one of our experienced mortgage brokers about your farm finance needs.
) [1208] => stdClass Object ( [post_id] => 91496 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>With the rising CPI and inflation affecting housing costs, an expert mortgage broker can help you secure finance for your dream home. Call us on 1300 889 743 or enquire online today.
) [1209] => stdClass Object ( [post_id] => 3889 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>By getting a home loan pre-approval, you get to know how much you can borrow so you save time and effort to house hunt for properties that fit your budget. Besides this, there are other benefits to getting pre-approved:
However, a pre-approval does not guarantee that you will get final or unconditional approval for a home loan. You still need to go through the lending process to get approved.
Get the help of Home Loan Experts in obtaining a pre-approval for a home loan. We care about helping you take the right step toward getting the property you want. Call us on 1300 889 743 or complete our free online assessment form today.
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Knowing the sale prices for comparable properties in the same area as the home you wish to purchase will give you an upper hand. Compare the current price of your chosen house or apartment with that of previously sold properties with similar features and conditions in the area. It will give you a tentative idea of the possibilities in terms of negotiation. This strategy is better than making an offer 10% less than the asking price. If there is less activity in your desired property market, you will have more room for negotiation. Remember this, and it will encourage you to bargain on the quoted property price. It is wise to have an appraisal contingency on your offer. If the seller refuses to sell a home for the price it is appraised for, then you can walk out without financial loss. A mortgage broker can get you a property valuation report in most states free of cost. Call us on 1300 889 743 or fill out our free online enquiry form now to get in touch with our mortgage brokers!
) [1211] => stdClass Object ( [post_id] => 45170 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Our mission has always been to get tough loans approved and that will never change.
Want to more about us?
If you want to start your home buying journey, call us today on 1300 889 743 to get a free assessment for a home loan.
Alternatively, tell us a little about your situation and we'll call you back.
) [1212] => stdClass Object ( [post_id] => 70352 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Call us on 1300 889 743 or enquire online. We can help you formulate a strategy to make the most of the changing environment for interest rates.
) [1213] => stdClass Object ( [post_id] => 33224 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Business Banking can consider applications that are more complex. Some examples are:
Examples of specialised security include Taxi Licenses, Franchises, Management and Letting Rights, News Agencies, Hotels, Motels and Caravan Parks, Real Estate Rent Rolls, Child Care, Pharmacies and Commercial Insurance Agents
Our Commercial Loan Experts can assist to choose the right lender. Call us on 1300 889 743 or complete our free assessment form online.
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In your application, the bank will be weighing up the strengths and weaknesses of the property security (the holiday park) and your situation (both financial and the experience you have under your belt).
How much can I borrow?
Caravan and holiday parks are seen as specialised security meaning they are purpose-built and will attract a specific type of buyer.
This is a high risk should the bank ever need to sell the property in the event you default on the caravan park commercial loan.
Lenders are even more conservative if you're just buying business: LVRs will be reduced and you'll require adequate equity in a residential property or cash to complete the purchase.
Do you need a caravan park commercial loan?
Call us on 1300 889 743 or complete our free assessment form and discover how we can help you get approved!
Not all lenders are the same and we'll help you choose a lender that takes a common sense approach.
How will the banks assess my situation?
Apart from some basic financial evidence like payslips and your latest group certificate, you'll also need to provide evidence of at least 3 years in a managerial position of a similar-sized holiday park or hospitality business and how you managed a viable enterprise.
For the new business you plan to run though, the bank will ask for a business plan drafted with help of your accountant showing revenue, cash flow forecast and capital requirements.
It should include any repairs that need to be undertaken to the buildings, plant and equipment on site for the next 5 years. You'll also need to provide a market analysis and competitor report for the location of holiday park.
The cash flow budget itself should clearly estimate occupancy rates during peak and off-peak periods and how much revenue you expect to generate through the 12 months.
Ultimately though, a caravan park commercial loan application is assessed on a case by case basis so get in touch with us and we can do a proper assessment.
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The following changes are effective from 1 July 2023.
New South Wales
Victoria
Queensland
South Australia
ACT
As we step into the new fiscal year, it's crucial for both individuals and businesses to stay informed about these changes and understand how they may affect their specific situations. Whether you're a prospective homeowner hoping to take advantage of the expanded schemes or an investor navigating the implications of rezoning and windfall gains tax, being aware and ready can make a meaningful difference. Our mortgage brokers are here to help. Call us on 1300 889 743 or complete our free assessment form today.
) [1216] => stdClass Object ( [post_id] => 70598 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>The First Home Guarantee (formerly known as the First Home Loan Deposit Scheme), helps first home buyers with a deposit as low as 5% buy a home without paying Lenders Mortgage Insurance (LMI). Under this scheme, the government does not own a stake in the home, rather, it acts as guarantor for up to 15% of the value of the property.
The First Home Guarantee is one of the plans under the Coalition’s Home Guarantee Scheme. The other schemes are the family home guarantee for single parents with dependants and the Regional Home Guarantee buying in regional areas.
Note that not all lenders will be participating in all schemes. Home Loan Experts brokers can connect you with a participating lender with whom you can qualify for a place. Call us on 1300 889 743 or complete our free assessment form today!
) [1217] => stdClass Object ( [post_id] => 31017 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Commercial lenders often provide more favourable terms and interest rates for “standard” retail properties that can easily be converted and refurbished for many different business purposes.
Many retail properties are zoned mixed use, which is an advantage when banks are considering whether to approve your retail commercial loan.
Which bank will approve your retail commercial loan?
Call us on 1300 889 743 or complete our online assessment form to speak with one of our specialist mortgage brokers today.
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There are legitimate reasons for setting up a trust in order to distribute funds to your family. The bottom line is, do not simply set up a trust just for the tax benefits because it may have a big impact when you need to apply for a mortgage.
For example, if you distribute $30,000 to your wife every year, a bank may consider this as a living expense if she isn't working.
In addition, a beneficiary who is 18 or over is a legal entity which means you cannot simply say to the lender that you're no longer going to be making trust distributions to them, especially if there is already a two to three year history of you making consistent payments from your income.
Mortgage insurance providers don't like trust distributions at all and most lenders tend to take the same black and white approach.
We know lenders that can "add" this distribution back into your assessable income because they understand that it is not a real expense and has been done for tax purposes.
In most situations, if the spouse is on the loan or the distributions are going to a dependent (child under 18), some lenders can use that distribution income as part of their serviceability calculation.
There will need to be valid reason for trust distributions and you will usually be required to provide a letter from your accountant to confirm that the beneficiaries are not financially dependent on this income.
Call us today on 1300 889 743 or fill in our free assessment form to discover how we can help you.
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Yes! There are a few ways that you can avoid business loan covenants, although it largely depends on your application and the lender you choose.
Keep your loan under $1 million
As a general rule, business loans for under $1 million fall within some lender's small and medium-sized enterprise (SME) department.
Because of this, there are some lenders that are willing to "wear the risk" of the business loan without requiring the borrower to meet undertakings.
Maintain a low Loan to Value Ratio (LVR)
Business loans that are for less than 50% of the value of the property that you're using as security (Loan to Value Ratio) may also help you to avoid covenant reporting.
Run a strong business
If you can provide an accountant-certified business plan showing cash flow projections as well as evidence of successfully running a similar-sized venture in the past, you may be in a position to negotiate on the need for a business loan covenants.
Sometimes it may just be a case of successfully running your business, meeting your financial commitments and making your business loan repayments for 2-3 years, after which, you can request to remove the need for covenants.
Good clients have the power to tell the banks that they will take their business elsewhere if covenants aren't removed.
With the help of a mortgage broker, they'll usually listen to you!
Banks would rather keep a strong business client then lose them to another bank and the mortgage broker will even help you negotiate a better interest rate on a regular basis.
Are you in a position to negotiate on business loan covenants?
Call us on 1300 889 743 or complete our free assessment form so we can assess your situation and tell you how we can help.
) [1220] => stdClass Object ( [post_id] => 23639 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Which bank is best for your situation? Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out how much you can borrow.
How can we help?
Because of the relationships that we have within the commercial departments of major lenders and banks, we know which of them will allow you to borrow up to the maximum Loan to Value Ratio (LVR) for your commercial purchase.
On top of that, we know which lenders can offer you a competitive price for your loan including a great interest rate. By properly assessing what you want out of the commercial loan, we can choose the right lender for you so it’s not about shopping you around.
Did you know there’s more to getting a good deal than low fees and a strong interest rate?
Call us on 1300 889 743 or fill in our free assessment form to get an indicative funding proposal for your property.
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Inner city apartments
Low Doc: You can borrow up to 80% of the value of an inner city apartment.
High density units are usually defined by their postcode along with other criteria such as being over three stories tall or having more than 30 units in the complex.
Many lenders fear that there is less demand for inner city units, in particular when a complex has just been completed and there are remaining unsold units in the same building as your unit.
The majority of lenders will not lend more than 60% of the value of the property as a low doc loan however some of our lenders can consider up to 80%.
Island properties
Low Doc: You can borrow up to 80% of the value of a property on an island.
Lenders restrict low doc loans that are secured by properties located on an island that is not connected to the mainland by a bridge.
This is because there is less demand for this type of property, which can prolong the resale of the property.
Land and houses in Tasmania or on Russell Island, Lamb Island and Macleay Island, which are all located in Redland Bay QLD, can be financed up to 80% of the property value with a low doc loan.
Properties on other islands are assessed on a case by case basis.
Landslip prone areas
Low Doc: You can borrow up to 80% of the value of a landslip prone area.
If your property is in a landslip area then please call us on 1300 889 743 or enquire online to discuss your options. Each application is assessed on its own merits so we will usually discuss your loan with several lenders so you can get the best possible outcome.
Some properties are completely unacceptable with no lender willing to accept them as security.
Mine subsidence districts
Low Doc: You can borrow up to 80% of the value of a property that is in a mine subsidence district.
Land that is above an area that was mined may be at risk of collapsing. These districts may have restricted zoning and are considered to be a higher risk by most lenders.
By providing evidence from the mine subsidence board we may be able to assist you in using your property as security for a low doc loan.
Multiple units on one title
Low Doc: You can borrow up to 60% of the value of up to four units on one title.
It is quite common for medium sized investors to consider the higher returns offered by multiple houses, townhouses or units on one title. The rental returns tend to be significantly higher, particularly in regional areas.
Other investors build granny flats in their backyard to turn their home into an investment property.
Lenders do not like this type of security for low doc loans as there are fewer people willing to buy dual occupancies / multiple buildings on one title. Normally 2, 3 or 4 units on one title are acceptable.
Some lenders can consider 5 or 6 units as a residential loan or 7+ units as a commercial low doc loan. However, one of our lenders can consider 10 units with a 60% LVR (Loan to Value Ratio) or under.
Enquire online or call us on 1300 889 743 to find out the full details about financing more than 4 units on one title.
Off the plan units
Low Doc: You can borrow up to 80% of the value of Off the Plan Units.
Banks tend to be more conservative with off the plan sales because in some cases properties are sold for more than they are worth and the bank valuers have failed to notice the discrepancy.
Many lenders do not give the final approval for off the plan purchases until they are complete, or within 6 to 12 months of completion. In many cases they will ask for a certificate of occupancy prior to approval or settlement.
Many lenders do not consider Off the Plan Units with low documentation loans, however we do have a select few lenders that can consider up to 80% of the property value.
Postcode restrictions
Low Doc: You can borrow up to 80% of the value of a restricted location property.
Almost all banks and major lenders in Australia have a location guide or postcode restriction list that governs their maximum low doc loan amount and lending policy for each location in Australia.
Locations are put into categories based on their population, real estate values, local economy and likely future of the area. Some of our lenders can consider lending up to 80% in remote areas
Properties in bad condition
Low Doc: You can borrow up to 80% of the value of a property in bad condition.
Ask yourself if you could rent the property out in its current condition. If the answer is no then chances are most lenders will not approve a low doc loan using that property as security.
Renovator's dreams can turn into nightmares when a contract of sale has been signed and then the bank turns around and declines the loan because of the condition that the property is in! It is critical that you do not commit to buy until we have an approval from your bank.
Lenders often ask their valuers to assess how easily a property could be sold. If the property is in a high demand location then even a condemned property that would have to be knocked down may be acceptable to some lenders.
The property must have a working kitchen and bathroom or you may be required to provide a building contract as evidence that you are repairing the property.
In rural locations with limited demand, dilapidated properties are usually unacceptable.
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Generally, buying a property as a leasehold is a cheaper option than buying a similar freehold property.
However, it's important to understand that you don't own the land. The land is owned by another person or company.
The homeowner signs a contract and pays regular rent to the landowner.
The amount you can borrow usually depends on the block you're buying in and the area of the unit you're looking to buy.
With the right lender, not only can you get a great home loan deal but you can also qualify for certain interest rate discounts.
How much can I borrow?
Generally, you can borrow up to 80% LVR (Loan to Value Ratio) for a minimum living area of 40m2. You'll also require a full valuation of the property before you can get approval for a mortgage.
The amount you can borrow can vary depending on the block the property is located in.
Please contact the agent directly to get more information on the property before you decide to apply for a home loan.
Alternatively, our experienced mortgage brokers can take care of all the hassle for you.
It may actually be possible to borrow up to 100% of the property value with a guarantor loan.
Call us on 1300 889 743 or complete our free online assessment form to speak with one of them today.
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You calculate the LVR by dividing the loan amount by the actual purchase price or valuation of the property, then multiplying it by 100.
For example, let’s say that you’d like to borrow $240,000 and the property you're using as security is valued at $300,000.
The LVR of the home loan would be calculated like this:
($240,000 loan ÷ $300,000 property value) x 100 = 80% LVR
Have you used any of the other mortgage calculators?
Some may apply to your situation.
Call us on 1300 889 743 or complete our free online assessment form to find out what your LVR means for your ability to borrow.
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Would you like help to apply for a mortgage in Australia?
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to get assistance from one of our specialist mortgage brokers.
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Stability
Australia’s property market has a proven record of stable prices.
What’s the big difference between Australia and other property markets?
Overseas property markets such as Hong Kong or the United States have suffered significant crashes that are completely unheard of in Australia.
Housing prices in volatile economies have seen drops of up to 70%, leaving investors with huge losses.
This is often because of significant speculation from foreign investors or asset price bubbles fueled by debt.
Investors have a smaller impact in Australia as the majority of the housing market is owner-occupied.
In fact, during the 2007/09 Global Financial Crisis which saw property prices in the UK and USA fall significantly, Australian property prices actually increased in value.
Want to get started on your home buying journey?
We can help you qualify for a non-resident mortgage in Australia so please call us on 1300 889 743 ( +61 2 9194 1700 if you're overseas) or fill in our free assessment form to speak with one of our home loan specialists.
) [1226] => stdClass Object ( [post_id] => 30720 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>If you need help applying for an expat loan, call us on 1300 889 743 (+61 2 9194 1700 if you're overseas) or fill in our free online assessment form and we can help you find the right solution for your home loan needs.
) [1227] => stdClass Object ( [post_id] => 58026 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Disclaimer: Please note that we’ve assumed that you’ve met standard first home buyer criteria.
If you’re eligible for the FHOG VIC, Home Loan Experts can help you apply for the FHOG and throughout your buying process. Call us on 1300 889 743 or enquire online to talk to one of our specialist mortgage brokers.
However, if you’re still deciding, continue reading.
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Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to speak with one of our mortgage brokers who can help you get approved with the right lender.
) [1229] => stdClass Object ( [post_id] => 10090 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => In Australia, the loan application process can be fairly simple. A good first step is to contact a mortgage broker that specialises in expat home loans and can match you with the right loan and lender for your situation. As part of the preliminary assessment, the broker will ask you to provide specific documents to verify your identity, income and your eligibility for a housing loan. They will then apply with the bank they believe is most likely to approve your loan. The best part is that all of the leg work undertaken by the broker is absolutely free for most loan types. The reason is that the broker is paid by the banks for introducing new loans. You can also apply directly to a bank or lender although this can severely limit your options and chance of approval since a bank will only offer you its own products and services. A mortgage broker can compare through many different lending institutions to find the best loan and the most competitive interest rate. Get in touch with one of our specialist mortgage brokers to learn more about Australian mortgages. Call 1300 889 743 (when outside Australia call +61 2 9194 1700) or complete our free assessment form today. ) [1230] => stdClass Object ( [post_id] => 93305 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
The key is to find a strategy that allows you to support your children while protecting your own long-term security. Before making any decisions, it’s important to consult with a mortgage broker or financial adviser who can guide you through the process and help you make the most informed choice.
Ready to take the next step? Call us today at 1300 889 743 or fill out our free online assessment form to explore the best options for you and your family.
) [1231] => stdClass Object ( [post_id] => 4877 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Ready to apply for a home loan?
Call us on 1300 889 743 or complete our online enquiry form and we can let you know your borrowing power.
) [1232] => stdClass Object ( [post_id] => 77635 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => After your fixed term has ended, here are some actions you can take:) [1233] => stdClass Object ( [post_id] => 951 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Most banks will not approve normal home loans for real estate investor trusts that take the form of a hybrid trust. Typically, your loan will be processed as a business loan, which means you will pay higher fees, a higher rate and will not be allowed to borrow as much! The secret to getting a low interest rate is to apply with a lender that considers PITs via their residential department. Please call us on 1300 889 743 or enquire online to discuss your situation with one of our mortgage brokers.
) [1234] => stdClass Object ( [post_id] => 62006 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Call us at 1300 889 743 or fill in our free online assessment form, and we will assign a specialist mortgage broker according to your situation. They will then answer all your questions in the process of identifying the best options available for you.
) [1235] => stdClass Object ( [post_id] => 77032 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => Every customer’s situation is unique. Refinancing can have various motivations, including obtaining better rates, accessing equity, consolidating debt, removing a guarantor and others. There is no one best time to refinance and the decision to do it should be based on what you want to achieve. For example, refinancing may be a good choice if you want lower interest rates, but it's not the ideal option if you're seeking to access the equity in your home. Considering this, is it a good time to refinance? Let’s look at some pros and cons.Pros
Lower Interest Rates
You can probably get a cheaper interest rate. Eight consecutive cash-rate rises have caused interest rates to soar. It has left people with higher repayments and mortgage stress. Refinancing to lower rates can help you lower your monthly repayments and deal with the rising interest rate environment.Pay Off Your Home Loan Faster
You can reduce the life of your loan by refinancing, if you can afford higher repayments. Refinancing to lenders that allow you to reduce the total term of your loan can help you pay off your home loan faster. This can also save you money on interest. Be aware that you will have to make higher repayments if you choose this option. Also, keep in mind that many lenders will allow you to make extra repayments or pay extra on repayments if you refinance to a lower, variable rate.You Can Switch To A Fixed Interest Rate
You can refinance and switch your variable rates to a fixed interest rate. This can save you from possible rate rises in the future. A fixed-rate home loan makes your monthly repayments predictable for the locked-in period. Your property value may be dropping but you can at least save yourself from the potential risks.Cons
Less Equity
Homeowners are concerned because the decline in their house values has caused their equity to fall. When your equity falls, it can affect the rates you are offered and even your chances of loan approval. For example, you bought a home two years back for $800,000 and took out a home loan of $640,000. In the beginning, you had $160,000 equity in your property. However, after two years, your home’s value has fallen by 10%, to $720,000, and your outstanding loan is $600,000. This means your equity in the property is now only $120,000. Had the value of your home not fallen, you would have $200,000 equity in your property. If your property’s value falls enough, you can even be left with negative equity.Risk Of Falling Into Negative Equity
Negative equity is a situation where your home’s value drops below the outstanding loan amount. For example, let’s say you bought a home last year for $800,000 with a home loan of $750,000. Now, your outstanding loan balance is $740,000 but your home’s value drops to $720,000. This leaves you with negative equity.
You will not be able to refinance your loan in this situation, as lenders will not approve you until you increase your equity to an acceptable amount. You may not have any option except to stay with the current lender, increase your monthly repayments and wait until the property price increases.
Less Borrowing Power Makes Approval Harder
Lenders assess your borrowing power for refinancing by looking at the value of your property. If your property’s value has dropped, it can decrease the loan amount that the lender will agree to provide you when refinancing. Additionally, rates have risen now, and that also lowers borrowing power. You may be making all of your repayments and borrowing the same amount but some lenders may say you cannot afford the loan. This is because banks are adding 3 percentage points to the interest rate when assessing your borrowing power. If rates have gone up since you borrowed, then this may mean some lenders will not approve you.Potential For Additional Costs
Your desired Loan-to-Value Ratio (LVR) affects your financing costs. When your property’s value drops, the percentage of it that you need to borrow to refinance goes up, and that can be costly. You may still be able to refinance your home loan but lenders typically require you to have 20% equity to avoid paying Lenders Mortgage Insurance (LMI), which can cost $10,000 or more. That means having an LVR or 80% or less. If you want to refinance at a LVR of more than 80%, the rate you get won’t be as good and you will probably need to pay a heavy LMI fee. Some lenders do 85% LVR with waived LMI but there are big differences in rates on offer from lenders if you have less equity. So, it’s important to use a mortgage broker to get the most competitive rates. Call us on 1300 889 743 or fill in our free online assessment form.Access To Less Equity For Cash-Out Refinance
If you want to do a cash-out refinance to access the equity in your property, you may end up accessing less because of the drop in your property’s value. For example, suppose you bought a home three years ago for $800,000 with a home loan of $640,000. And you have reduced your loan balance to $600,000. In the past, your home’s value had increased to $1,000,000, but due to nationwide declines, it has fallen to $900,000. Considering that banks typically lend up to 80% of the property’s value, you can refinance your $600,000 loan into a $720,000 loan and access $120,000 equity. If you had refinanced when the property value was $1,000,000, you could have unlocked $200,000 in equity by refinancing the same amount. You cannot do cash-out refinancing if you are in negative equity.) [1236] => stdClass Object ( [post_id] => 35368 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Unlike a home loan to buy a residential property, commercial loans aren't governed by the National Consumer Credit Protection Act 2001 (NCCP Act).
That's actually a good thing for you in that lenders can be more flexible with lending policy.
The trick is trying to figure out what the bank wants to see in an application and trying to get a fair deal.
By going to a bank directly, many borrowers lose out:
An experienced commercial mortgage broker can help!
Please call us on 1300 889 743 or complete our free assessment form to discover why we're specialists in commercial property loans.
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At Home Loan Experts, we’re a team of experienced and qualified mortgage brokers who are experts in the Australian property market.
We also have a strong track record of success, having helped hundreds of Chinese investors secure mortgages for their Australian property purchases.
Call us on 1300 889 743 or complete our free online assessment form today to learn more about our services and how we can help you.
) [1238] => stdClass Object ( [post_id] => 3144 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Each lender and Lenders Mortgage Insurance (LMI) provider has a guide that assigns a category for each postcode in Australia. There are typically five categories:
A particular area or postcode may have different classifications for different lenders depending on their interpretation of the property market in that area.
Some lenders will also take historical data into account.
For example, Helia (formally Genworth Financial) considers Western Sydney to be high risk because they've had a lot of losses in that area.
On the other hand, QBE LMI has more restrictions on some areas that have an unstable economy.
Is your location considered to be high risk?
Please call us on 1300 889 743 or fill in our online enquiry form because we may still be able to help.
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Have you found a recreation centre?
We can give you an indicative funding proposal if you call us on 1300 889 743 or fill in our free assessment form.
Tell us a little bit about your situation and the property you had in mind.
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If you’re not quite eligible for waived LMI, you may still be able to cushion the premium blow.
Are you a first home buyer?
Did you know that select mortgage insurance companies offer a 15% discount on their LMI premium if you’re a first home buyer?
Available only:
Capitalise the cost of LMI
Although you'll still have to pay the premium, most lenders now allow you to add the cost of LMI onto the principal of the loan rather than you having to put up anything upfront.
Buy a cheaper property!
The larger your loan, the higher the percentage of the loan amount the mortgage insurer will charge you:
Even if you’re borrowing $300,001 you could reduce your mortgage by just $1 and immediately save as much as $800!
Save a bigger deposit!
The higher your LVR, the higher your LMI premium.
For example, if you’re borrowing $900,000 secured on a $1,000,000 property then your LVR is 90% and your loan will carry with it a big LMI price tag.
Choose the right lender
The premium you are liable to pay will vary drastically depending on the lender you go with. That's because different lenders are backed by different mortgage insurers and both the lender and the insurer will assess the risk of a home loan application in different ways.
Lenders do not publish their LMI rates to the general public and do not disclose which LMI company insures their loans.
Use our LMI calculator to discover how much you could save on your insurance just by choosing the right lender.
Talk to a broker
One of the main jobs of a broker is to find out what you want to achieve with the home loan. Do you want to get a cheap mortgage or are you just looking to actually get approved?
If you’re looking to get a good deal, our brokers will look at every single cost associated with the loan including the interest rate, monthly repayments, loan set-up costs andthe cost of LMI.
By doing so they can tell which mortgage insurer will approve your loan, save you the most money and still suit your needs.
Call us on 1300 889 743 today or fill in our free assessment form.
How not to get declined by the mortgage insurer
Don’t let an insurer see your application
Mortgage insurers are much tougher than banks when it comes to assessing your income, employment and your credit file, as well as things like the type of property you’re planning to purchase and its location. Just because your application will get approved with the bank doesn’t mean it will pass the insurer’s policy.
Did you know that not all lenders send your application off to a mortgage insurer to be assessed?
Some of them have their own DUA, which means that the bank can sign off on behalf of the insurer. Generally speaking, it also means that the lending policy is a bit more lenient and the turnaround time in getting your application approved is faster.
There are only a few banks that have DUA. In fact, out of the over 40 lenders on our panel, there are only 10 that have this authority.
Will you pay more?
Actually, at least one of our lenders with DUA has one of the best interest rates on the market and the LMI premium is low compared to some other lenders.
We do have control over whether it goes to an insurer or not by carefully assessing your situation and matching you with a lender that can approve your application without going to an insurer.
Don’t shop around by applying with different lenders
If you’re looking to find the cheapest LMI premium or just trying to get your application approved with an insurer, applying with a whole heap of different lenders will put unnecessary enquiries on your credit file.
Keep in mind that there are only two main mortgage insurers in Australia - Genworth and QBE - so if you’re getting declined for those applications, chances are they are being recorded by the same insurer.
If you can only get yourself approved with that one insurer, you’ve shot yourself in the foot and eliminated your chance with a number of lenders right off the bat.
Apart from the increased chance of having your home loan application declined, shopping around for LMI takes up a lot of time and it’s hard to know if you’re getting a good deal or not.
Home Loan Experts senior mortgage brokers say it's their job is to present your case in a way so that you’ll win over the mortgage insurer.
“I see myself as a lawyer, so if someone has been declined by an insurer, to me that’s like they’ve lost a court case,” he said.
“Now they’re coming to me, an expert, and they’re trying to get an appeal and, like a lawyer, not every broker has the expertise to do that, but we do.”
We’re LMI experts, so call us on 1300 889 743 or complete our free assessment form.
One of our mortgage brokers will tell you whether you’re in a position to have the cost of LMI reduced or waived altogether!
) [1241] => stdClass Object ( [post_id] => 78414 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => We can help you secure your dream home in a stabilising market. Contact Home Loan Experts’ mortgage brokers now for a clear idea of what's happening and how we can help you secure a home. Call us on 1300 889 743 or fill in our free online assessment form before it's too late.) [1242] => stdClass Object ( [post_id] => 24144 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Although we can’t help you qualify for a mortgage if you’re currently bankrupt, we can help to borrow up to 90% of the purchase price of a property if you’re discharged bankrupt.
Similarly, if you’ve paid any outstanding defaults on your credit file, we may be able to get you qualified for a loan.
The amount you can borrow will depend on the age and the total number and dollar value of the defaults, including whether they’ve been paid or not.
Please speak to our specialist in bad credit home loans by calling 1300 889 743 or by completing our free assessment form. They can assess your situation in full and recommend any home finance options available to you.
) [1243] => stdClass Object ( [post_id] => 70795 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>At Home Loan Experts, we are professionals at assisting borrowers through the maze of paperwork and lenders so they can make good decisions and get the home loan they want.
Call us on 1300 889 743 at any moment for help through the refinancing process, or enquire online.
) [1244] => stdClass Object ( [post_id] => 45016 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>At Home Loan Experts, we understand that you have busy lives and you’re not always able to call our 1300 889 743 number during business hours.
Part of our mission is to educate Australians about the home buying process so our team of specialist mortgage brokers are available online after work hours and during weekends to answer your burning questions.
All you need to do to start speaking with one of our expert mortgage brokers is by hitting the 'Chat with us' tab in the bottom right-hand corner on any of our webpages.
The online messenger will expand so you can start typing away.
) [1245] => stdClass Object ( [post_id] => 34253 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Do you just need finance to buy business premises?
You can borrow at a higher Loan to Value Ratio (LVR) if you use a residential property as security!
Discover if you qualify for an insurance broker business loan by calling one of our mortgage specialists on 1300 889 743 or filling our easy online enquiry form today.
) [1246] => stdClass Object ( [post_id] => 23064 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Some lenders offer no LMI home loans to:
To qualify for waived LMI, you must meet the following criteria:
Doctors
Accountants, lawyers, professional athletes, and entertainment professionals
105% loan with no LMI
This isn't suitable for everyone, but it's a great way for first home buyers to get into the market, avoid LMI and get a great interest rate.
90% loan with no LMI
Call us on 1300 889 743 or enquire online for a full assessment.
85% loan with no LMI and no guarantor
Call us on 1300 889 743 or complete our free assessment form to find out the full criteria.
) [1247] => stdClass Object ( [post_id] => 20785 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
The costs to own a home calculator will work out government expenses but there are a few other costs that aren't included.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can qualify to buy a home now.
) [1248] => stdClass Object ( [post_id] => 20787 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Our stamp duty calculator, above, will work out whether you’re eligible for an exemption or reduced stamp duty.
Ready to apply for a home loan?
Give us a call on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [1249] => stdClass Object ( [post_id] => 20658 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Simply enter the details of the investment property you want to purchase and your income, and our calculator will work out the rest for you.
Please speak to one of our expert mortgage brokers today by calling 1300 889 743 or by filling in our free online assessment form to find out how we can help you with an investment loan.
) [1250] => stdClass Object ( [post_id] => 30987 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Agribusiness loans are also called farm loans, farmer loans or agricultural loans. They can be taken out for various purposes. This includes updating equipment, buying agricultural property or kickstarting your agribusiness.
Banks carefully assess applications for agribusiness loans. They only lend to applicants that are Australian primary producers.
Your loan application and business must be strong in order to qualify. This means you'll generally need a high income and a good credit rating.
Banks will also take other factors into account. For example, if you're buying a farmland, you may not be approved if the farmland is in a remote location.
However, banks can be flexible with their policy. You will need to show that you're a low risk business with high profitability.
Since there are no set guidelines, each loan is assessed case by case.
How much can I borrow?
If you're buying a commercial farm, most banks lend a maximum of 60% of the land value.
If you're not buying a farm, the Loan to Value Ratio (LVR) varies from lender to lender. Your borrowing power generally depends on the particular lender, loan product and the strength of your application.
Banks will have stricter lending criteria if you want high LVR agribusiness loans.
However, if you have livestock, particularly cattle, they can be lent against. For example, a $500,000 loan may be secured by 1,000 cows assessed at $500 each.
Please note that these assessments vary from lender to lender.
What do I need to prove my income?
Banks allow the use of existing as well as projected income. This means you can generally prove your business income using:
Please note that your statements and tax returns must be for the last two years. Lenders don't accept older documents.
If you can't prove sufficient income evidence, there are low doc business loans available. However, most banks will want to see significant equity before they can consider lending.
We have mortgage brokers that specialise in agribusiness loans. We can help you find a lender that can accept your application even if you can't prove your income.
You can call us on 1300 889 743 or complete our free online assessment form to find out if you qualify.
) [1251] => stdClass Object ( [post_id] => 30589 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
If you're close to retirement age, lenders typically require you to provide an exit strategy for how you plan to pay off your home loan.
The bank may knock back your home loan exit strategy if your plan is deemed high risk or unrealistic, or doesn't otherwise meet te lender's policy.
The solution:
Your exit strategy will depend on your asset position, income and retirement plans.
We can help you choose a lender that will take a common sense approach to your situation and future plans.
Speak with one of our mortgage brokers by calling us on 1300 889 743 or by completing our free online application form.
) [1252] => stdClass Object ( [post_id] => 21577 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Banks don't always advertise their lowest interest rates so we've done it for you on our interest rates page. You'll find that if your loan is over two years old then there is a very good chance that you are no longer on a competitive interest rate. If you went to a bank directly, you may well get a good deal at the start of your loan but you could be charged fees and a higher interest rate as the term of the home loan progresses.
We do annual reviews on our clients loans and make sure they are still getting the best deal possible from the bank.
Why not call us on 1300 889 743 or fill in our free assessment form. Our brokers may be able to negotiate special interest rate discounts depending on the size of your loan and asset position.
) [1253] => stdClass Object ( [post_id] => 33300 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Our mortgage brokers have experience working for various banks as well as non-bank lenders. We know exactly which banks will accept your security property especially if it's unique or specialised.
We can also order free upfront property valuations with several of our lenders before you even apply!
You can speak with one of our mortgage brokers by calling us on 1300 889 743 or you can complete our free assessment form and we will contact you within 24 hours.
) [1254] => stdClass Object ( [post_id] => 31248 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => A split mortgage, or a split rate home loan, is a loan feature that allows you to split your home loan into multiple loan accounts that attract different interest rates. A popular example for this is to split the home loan into a variable interest rate component and have the rest of the loan amount fixed. The fixed component effectively allows you to manage the risk of interest rate fluctuations. At the same time, you can take advantage of rate cuts with the variable portion. You can allocate as much as you want to each account as long as it's allowed by the lender.
Example of splitting your home loan
Let’s say that you borrowed $500,000 over a 30-year term and fixed $300,000 at 3.90% a year, for three years, and kept the remaining $200,000 variable at 3.59%. Your fixed monthly repayments would be around $1415 and your variable repayments would be $908, bringing your total repayments to $2323 a month. After six months, your lender increases its variable rate to 3.79%, bringing your total mortgage repayments $2345, or an increase of $22 a month. If you had, instead, kept your home loan entirely variable, your repayments would have increased from $2270 to $2327 – an extra $57 a month. Similarly, if the variable rate were to decrease to 3.40% on your split loan, your total repayments would decrease to $2301, saving you $22 a month. Is loan splitting suitable for me? Call us on 1300 889 743 or fill in our free online assessment form to speak with one of our brokers and find out if a split home loan is suitable for you. ) [1255] => stdClass Object ( [post_id] => 8503 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>We can help you obtain an 80% mortgage as long as you meet all other standard bank criteria including having a clear credit history.
Even though you may be a successful business person and the Australian government has issued you a business development visa, you will still be required to provide supporting documents to prove your income before receiving your home loan approval.
If you believe that you may be unable to provide certain documents, please call us on
1300 889 743 or enquire online and our expert mortgage brokers will assist you in applying for a business visa mortgage.
) [1256] => stdClass Object ( [post_id] => 29349 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our easy free online assessment form to speak with one of our mortgage brokers who can help you get approved with the right lender.
) [1257] => stdClass Object ( [post_id] => 94381 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Market conditions are dynamic, and today’s favourable environment may not last. Potential interest rate hikes, policy shifts, and economic changes could affect Australia’s housing market, limiting homeowners' opportunities to benefit.
Acting now allows you to lock in advantages, whether through refinancing, leveraging equity, or making strategic investments while conditions remain favourable.
Need guidance? Our expert mortgage brokers are here to help you make the most of rising property values. Call us at 1300 889 743 or enquire online, free, today.
) [1258] => stdClass Object ( [post_id] => 26280 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Do you need an indicative funding approval?
Call us on 1300 889 743 or fill in our free assessment form to speak with one of our commercial loan specialists.
) [1259] => stdClass Object ( [post_id] => 22615 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
So how much can you borrow without proving your income?
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you qualify for a no doc commercial loan.
) [1260] => stdClass Object ( [post_id] => 1620 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Most lenders are reluctant to include the income you earn from your second job when assessing your ability to afford a loan.
As a result, you may be told that you "don't earn enough", "can't be working part time" or that you "don't meet bank policy" and your loan may be declined.
However, this bank policy makes no sense at all. People with multiple income sources and career options have a stable and diverse source of income, so they are actually a lower risk to a bank!
If you have a second job and want to make sure that all your income sources are included, please contact us on 1300 889 743 or enquire online and our specialist mortgage brokers can help you apply with the right bank who will consider the income you earn from a second job.
Why are the lenders so conservative?
Australian banks are conservative when assessing home loans for people with multiple jobs because they believe that their income is more likely to fluctuate and that their employment prospects are far less stable.
In our experience, people with several jobs are hard workers, are motivated to save a deposit for their home and are far less likely to run into financial hardship when repaying a mortgage.
We know which lenders will approve your mortgage, so don't waste time applying with banks that may not treat your second job income as stable.
Contact us today on 1300 889 743 or enquire online, and our expert team will help you get approval.
) [1261] => stdClass Object ( [post_id] => 94448 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Disclaimer: This calculator has several assumptions and simplifications and so should be used as a guide only. Please seek independent financial advice and your own circumstances before making any decisions about your home loan repayments. Making interest only repayments can significantly increase the cost of your mortgage over the term and expose you to higher repayments at the end of the interest only term
Juggling family life and work has never been more difficult in today's busy world.
The last thing you need to worry about is your home loan and how you'll manage your family's budget while on maternity leave.
Can I get a mortgage?
Did you know that some banks and other lenders can still approve a home loan or loan increase for you even though you're not receiving an income?
Give us a call on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will give you a call to discuss your situation.
) [1262] => stdClass Object ( [post_id] => 1485 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Did you know that some banks and other lenders can still approve a home loan or loan increase for you even though you're not receiving an income?
Give us a call on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will give you a call to discuss your situation.
) [1263] => stdClass Object ( [post_id] => 65763 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Refinancing your home loan in 2021 can help you get a better interest rate and reduce your monthly repayments. Changing to a lower monthly repayment will aid your cash flow, which will help you manage your other expenses. Some of our lenders are even offering cashback of up to $3,000 for refinancing your home loan.
Act early to refinance in 2021
If lockdown 2021 is affecting you, act early on refinancing to stay ahead of the curve. With lockdown in place, there may be delays in processing your application. Lenders could be changing policies and prioritising loan applications for buying property rather than refinancing. In addition to potential delays, policy changes could be unfavourable for your situation. For example, in 2020, some lenders stopped accepting casual, overtime, commission and bonus income. This could happen again in 2021, making you unable to qualify. Act now. Get in touch with us by calling us at 1300 889 743 or filling in our free assessment form. ) [1264] => stdClass Object ( [post_id] => 94823 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>As of July 2024, there have been no direct changes to negative gearing in Australia; however, the issue is a hot topic, as there are calls for reform.
Here's what's happening:
So, while there are no immediate changes, the debate on negative gearing reform is ongoing in Australia.
Are you looking for an investment loan? Our expert mortgage brokers are here to help you navigate the complexities of the lending process and find the perfect loan solutions tailored to your needs. Call us at 1300 889 743 or fill out our free online assessment form, and we’ll call you to discuss your results. Make your property investment count with expert guidance from Home Loan Experts.
) [1265] => stdClass Object ( [post_id] => 21031 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
A deposit bond is a guarantee from an insurance company made to the seller of a property that you will complete the purchase. You can use it instead of paying a cash deposit when you buy a property.
In the unlikely event that you do not complete the purchase, the seller can claim on the deposit bond policy and be paid the amount of the guarantee.
Would you like to apply for a deposit bond? Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to see what is available.
) [1266] => stdClass Object ( [post_id] => 47146 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
If you are running your finances to the wire just to keep up with mortgage repayments, it may be that you need a home loan health check from a mortgage broker.
They can:
Give us a call on 1300 889 743 or fill in our free assessment form, and one of our mortgage brokers will help you plan to prepare for an interest rate rise.
) [1267] => stdClass Object ( [post_id] => 34925 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify for an LRBA loan for your SMSF.
) [1268] => stdClass Object ( [post_id] => 34103 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Just like an overdraft facility, trade finance is a revolving line of credit with a set limit based on your security and overall financial situation.
For an importer, you can access this facility to fund the gap between paying a supplier for goods and then actually generating a profit from selling the goods to customers or using the products for manufacturing purposes (whatever the nature of your business may be).
For an exporter, you can fund the gap between selling goods and actually receiving payment from the buyer.
Although everything in business finance is based on the strength of your situation, as a general rule:
If your annual turnover is less than $5 million, we can work with a lender that can offer you a great interest rate and competitive terms.
Get in touch with one our specialist business mortgage brokers by calling 1300 889 743 or by filling in our online enquiry form and find out if you qualify for trade finance.
) [1269] => stdClass Object ( [post_id] => 54016 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] => In most cases, the answer is no. Lenders typically impose break fees if you refinance out of a fixed-rate home loan or sell your house before the term ends. One of the lenders on our panel is currently making an exception, offering 2-year, fixed-rate loans that allow borrowers who qualify to refinance to a variable rate during the term without paying break fees. Interest rates start at 5.59% (5.77% comparison rate), the same as the rate on the corresponding variable-rate product. The package also allows homebuyers to make additional repayments with no cap or penalty. Apply by 12 May 2023 to take advantage of the offer.
Don’t Miss Out On A Flexible Home Loan Solution!
Getting a two-year fixed rate while keeping the option to switch to a variable rate if interest rates go down can offer some certainty to homeowners who have been dealing with rising interest rates for a year. Our experts can help you find out if you’re eligible and guide you through the application process. Call us on 1300 889 743 or complete our free online assessment form to get started!) [1270] => stdClass Object ( [post_id] => 348 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
The secret to getting a lender to accept your income as true and correct is to apply with a lender that views your situation in a favourable light.
Providing the best possible combination of documents will also help to ensure that they assess you as earning a strong income.
For example, if your payslips show a low income because you've done no overtime in the last few weeks, provide your group certificate and a letter from your employer instead!
We're experts in getting loans approved for people with unusual employment!
With our expertise, we can help you compare the loans offered by those lenders and get back to you with two or three loans with the most competitive interest rates and fees!
Call us on 1300 889 743 or complete our free assessment form today!
) [1271] => stdClass Object ( [post_id] => 45371 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Lenders use a few methods to calculate your living expenses. They will:
If the lender assesses that you cannot afford the loan amount, they will decline your mortgage application.
Want to know how much you can borrow?
Try our borrowing power calculator and then get in touch with one of our mortgage brokers by calling 1300 889 743 or by completing our free assessment form today.
) [1272] => stdClass Object ( [post_id] => 1340 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Each lender will require some form of income evidence to support the income that you have declared, as this is now required under Australian law.
However they can choose any number of methods to verify your income. Most lenders prefer to obtain BAS statements, however some will accept an accounant's letter or business bank account statements instead.
Please call us on 1300 889 743 or enquire online to discuss which methods of verification will work for your situation.
) [1273] => stdClass Object ( [post_id] => 43632 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
The interest only calculator will work out how much more in interest you'll pay over a 30-year home loan term.
You can adjust the loan amount, interest rate, interest only period and even repayment frequency in order to compare and contrast.
In this way, you can make a better decision on your budget when purchasing an investment property and how much in interest costs you're willing to wear if it allows you to more rapidly grow your investment portfolio.
You can even enter '0' for the interest only period to find out how much you can save by making principal and interest (P&I) rather than a 5-year interest only (IO) term.
Please call us on 1300 889 743 or complete our free assessment form today.
We can assess your entire situation and long-term goals and make interest only recommendations that match your needs.
) [1274] => stdClass Object ( [post_id] => 20781 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>You may be surprised by the range of ways there are to buy a home right now!
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can afford to buy a home now.
) [1275] => stdClass Object ( [post_id] => 85648 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Don’t miss out on the incredible opportunities from the Queensland 2024-25 budget. First-time buyers can now benefit from expanded concessions, including an increased price cap for full exemption from stamp duty of $700,000.
Contact our expert mortgage brokers for personalised advice at 1300 889 743 or fill out our free online enquiry form, and we’ll get back to you. Your dream home in Queensland could be just a step away!
) [1276] => stdClass Object ( [post_id] => 71764 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Home Loan Experts CEO Alan Hemmings noted that understanding how your interest rate compares is important. A difference of just 15 basis points in interest rates could mean $60 a month in home loan repayments.
He further remarked, “Properties are staying on the market longer because buyers are worried about where interest rates may finish and do not want to overextend themselves. If this trend continues, it may be an opportunity for buyers, whether first-home buyers, upgraders or investors, to find a suitable property."
While it's difficult to pinpoint how much interest rates will rise in the coming months, it is important to lessen your financial burden when it does.
We've outlined some tips to prepare for a rate rise. We can guide you through the right steps to prepare you for an interest-rate rise, whether through refinancing or simply managing your home loan more effectively.
Our mortgage brokers know how to get you the best deal as interest rates rise. We can help you refinance to keep your home loan’s interest rate competitive. Call 1300 889 743 or enquire online to speak to one of our expert brokers today!
) [1277] => stdClass Object ( [post_id] => 3694 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>The main problem banks have with financing a hobby farm is to do with the improvements that typically need to be undertaken and what the farm is used for. Please read below for more information.
Please call us on 1300 889 743 or enquire online, and one of our mortgage brokers will let you know which lenders will accept your hobby farm.
) [1278] => stdClass Object ( [post_id] => 367 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Most lenders require a casual employee to be in their job for at least 12 months. We have access to banks that understand the modern workforce and will accept other situations:
Do you need help to get approved? Please call our expert mortgage brokers on 1300 889 743 or enquire online and we'll call you to discuss your options.
) [1279] => stdClass Object ( [post_id] => 54939 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>We update this page on a monthly basis as lenders announce extensions, changes or expiry of these purchase offers.
$6,000, $4,000 and $3,000 cashback for purchases
One of our major lenders is currently offering a:
The purchase cashback offer is valid on applications submitted by 31 October 2021 and settled by 31 January 2022.
To qualify:
The offer may be withdrawn at any time without notice. So, please call us on 1300 889 743 or fill in our online assessment form to find out if you qualify.
$4,000 cashback for purchases
The purchase cashback is valid on application submitted by 30 November 2022 and settled by 31 January 2023.
$3,000 cashback for purchases
The purchase cashback is valid on application submitted by 30 November 2022 and settled by 31 January 2023.
The offer may be withdrawn at any time without notice. So, please call us on 1300 889 743 or fill in our online assessment form to find out if you qualify.
$2,000 cashback on purchases
One of our lenders is offering a $2,000 cashback on purchases with a minimum loan size of $500,000 for applications received by 30 September 2022 and settled by 31 December 2022. The offer is not available for bridging, construction and business loans.
Offer may be varied or withdrawn at any time. So, please call us on 1300 889 743 or fill in our online assessment form to find out if you qualify.
$1,000 cashback on purchases
One of our lenders is offering a $1,000 cashback on purchases with minimum loan size of $250,000 for applications received by 28 February 2022 and settled by 30 April 2022.
To be eligible for the cashback:
Offer may be varied or withdrawn at any time. So, please call us on 1300 889 743 or fill in our online assessment form to find out if you qualify.
) [1280] => stdClass Object ( [post_id] => 98031 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Some lenders offer no LMI home loans to:
To qualify for waived LMI, you must meet the following criteria:
Doctors
Accountants, lawyers, professional athletes, and entertainment professionals
105% loan with no LMI
This isn't suitable for everyone, but it's a great way for first home buyers to get into the market, avoid LMI and get a great interest rate.
90% loan with no LMI
Call us on 1300 889 743 or enquire online for a full assessment.
85% loan with no LMI and no guarantor
Call us on 1300 889 743 or complete our free assessment form to find out the full criteria.
) [1281] => stdClass Object ( [post_id] => 98036 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
Simply enter the details of the investment property you want to purchase and your income, and our calculator will work out the rest for you.
Please speak to one of our expert mortgage brokers today by calling 1300 889 743 or by filling in our free online assessment form to find out how we can help you with an investment loan.
) [1282] => stdClass Object ( [post_id] => 1368 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
As mentioned above, we know lenders that can offer discounts of up to 1.80%. You can qualify if you meet these requirements:
Please call us on 1300 889 743 or enquire online to talk to one of our mortgage brokers and find out if you’re eligible for this offer.
) [1283] => stdClass Object ( [post_id] => 98037 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>As mentioned above, we know lenders that can offer discounts of up to 1.80%. You can qualify if you meet these requirements:
Please call us on 1300 889 743 or enquire online to talk to one of our mortgage brokers and find out if you’re eligible for this offer.
) [1284] => stdClass Object ( [post_id] => 98038 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>As mentioned above, we know lenders that can offer discounts of up to 1.80%. You can qualify if you meet these requirements:
Please call us on 1300 889 743 or enquire online to talk to one of our mortgage brokers and find out if you’re eligible for this offer.
) [1285] => stdClass Object ( [post_id] => 98039 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>As mentioned above, we know lenders that can offer discounts of up to 1.80%. You can qualify if you meet these requirements:
Please call us on 1300 889 743 or enquire online to talk to one of our mortgage brokers and find out if you’re eligible for this offer.
) [1286] => stdClass Object ( [post_id] => 98040 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>As mentioned above, we know lenders that can offer discounts of up to 1.80%. You can qualify if you meet these requirements:
Please call us on 1300 889 743 or enquire online to talk to one of our mortgage brokers and find out if you’re eligible for this offer.
) [1287] => stdClass Object ( [post_id] => 98072 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Some lenders have strict eligibility criteria and don’t accept borrowers with defaults. However, some specialist lenders tailored to these circumstances can approve your application with a poor credit score. You can go for non-conforming lenders who are willing to overlook your credit problems and approve the loan. They have flexible requirements compared to traditional banks but tend to be more expensive with stricter repayment conditions. Such loans may also require a larger deposit.
Some lenders in our panel can approve your loan even if you have a bad credit history. Call us on 1300 889 743 or fill in our free online assessment form today!
) [1288] => stdClass Object ( [post_id] => 98103 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>A bigger mortgage might look hefty but our Experts are specialists at handling them. Our specialist brokers will analyse your financial situation and your current living situation to make sure your every step is ensured. Home Loan Experts can help you reach the best possible financial outcome. Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1289] => stdClass Object ( [post_id] => 98144 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Did you know that challenging a valuation has less than a 5% success rate? That’s according to Valuation Exchange (ValEx), one of Australia’s leading property valuers.
In most cases, it’s best to order a valuation from another lender:
Call us on 1300 889 743 or enquire for free online and one of our mortgage brokers can request a valuation from a different lender.
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In most cases, you can borrow up to 80% Loan to Value Ratio (LVR) to buy unconventional homes.
If a lender can accept the property as any other established dwelling then you may be able to borrow up to 95% LVR. However, this depends mainly on how marketable the property is.
For example, lenders may be able to lend up to 95% for an unconventional home that's very close to a standard house and has a wide appeal to most buyers.
Properties with an unusual design or if it has certain problems or limitation are generally harder to sell. If you're buying or building such a property, most banks will require you to have a large deposit.
We have mortgage brokers with many years of experience in the credit industry. We know which lenders are more flexible with their lending policy and we can help you qualify for a home loan.
You can discuss your situation and loan needs with one of our expert mortgage brokers by calling us on 1300 889 743. You can also fill in our free online assessment form and one of us will contact you instead.
Why are the banks so conservative?
While eco-friendly houses made of mudbrick or straw bale are becoming more popular, from the bank's point of view, these properties are still harder to sell compared to the bread and butter type homes.
The reason is simple: unconventional homes don't appeal to every buyer. Such properties can take longer to sell because the market for eco-friendly homes, while growing, is still very limited at moment.
This is why lenders generally lend only up to 80% LVR.
It's also worth noting that lenders may be more conservative with their lending policy if you're building rather than simply buying a property made of unconventional building materials.
Another reason why the banks are conservative is that most of these properties are considered higher risk compared to a conventional home.
Lenders usually require that properties with a higher risk rating be approved by higher level credit assessors. Unless you have a strong loan application such as having other property to use as security, a strong income and a low LVR, you may not qualify.
Can I still get a no deposit construction loan?
Unfortunately, there are no longer any lenders in Australia that offer no deposit construction loans.
However, if you want to take out a no deposit home loan or construction loan, you can go guarantor instead.
Please note that most lenders will only allow a guarantee from your parents. If your guarantor is someone other than your parents, you may have to meet additional lending criteria.
With a guarantor home loan, you can avoid the requirement for a deposit as well as genuine savings. You'll also avoid having to pay Lenders Mortgage Insurance (LMI). Lenders generally charge LMI when you borrow more than 80% LVR.
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Being the beneficiary of real estate is one thing, but you also inherit the outstanding mortgage.
With funeral arrangements a priority, settling the debts of the deceased is often an afterthought.
Many people in this situation have no option but to sell the property to pay out the existing mortgage, specifically when the lender calls in the loan and assesses your ability to repay the mortgage.
As often happens, your sole income alone is often not enough to pay the home loan.
Many people want to stay on their property at all costs, especially if it’s the family home.
This can cause many to fall into arrears, making it difficult to then refinance your home loan and get access to cheaper interest rates so you can continue paying your mortgage.
We have lenders that can help you if you're in this situation so please call us on 1300 889 743 or complete our free assessment form today.
) [1294] => stdClass Object ( [post_id] => 98176 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>High-end investors
Professional property investors or those wanting to buy multiple properties at once often use the services of buyer’s agents.
That’s because they often already have a portfolio to manage or they just don’t have the geographical reach to handle all of the transactions.
Luxury Or High-End Property Buyers
These people are typically looking for a luxury home for themselves and their families.
They tend to be high-income earners who work long and strange hours that prevent them from getting out there and finding a property themselves.
Also, because buyer's agents have access to unlisted sales from private vendors, big spenders can often snap up a home that the general public doesn’t even know about.
Interstate buyers
People looking to take advantage of an interstate property play sometimes don’t have the ability to travel to check out the property.
A buyer’s agent located in the area can source the property for you, negotiate with the seller and come back to you with a price without you having to leave your home.
Overseas investors
Many overseas investors prefer to purchase properties, sight unseen, in another country.
Commercial property investors
Some buyer’s agents have their own commercial specialists that can help mum and dad commercial investors buy their first shop, pub or cafe.
They understand how to analyse the financials of the business you want to buy and negotiate on price.
In that way, you can make an informed decision on whether to go ahead with the transaction.
Check out our commercial property loan page to discover how we can help you get finance for a number of different commercial property types.
Call us on 1300 889 743"> +1300 889 743 or complete our free online enquiry form if you’re looking to buy an investment property.
Is It Really Worth It?
Sure, you’re saving time and effort but bear in mind that in a seller’s market, vendors and real-estate agents are unlikely to move much on price if they have 10 other potential buyers lined up.
This is particularly true in “hot” locations where there are more buyers than houses for sale.
A buyer’s agent is generally only for people who have some knowledge of the potential market value of similar properties in the location.Otherwise, you could potentially be paying a fee for little savings on the purchase price.
You have to really be questioning what the buyer’s agent is proposing to do in terms of the sale or when sourcing a property in the first place.
Remember: They’re acting your behalf and helping you through the process but you ultimately have to run the show.
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If you're close to retirement age, lenders typically require you to provide an exit strategy for how you plan to pay off your home loan.
The bank may knock back your home loan exit strategy if your plan is deemed high risk or unrealistic, or doesn't otherwise meet te lender's policy.
The solution:
Your exit strategy will depend on your asset position, income and retirement plans.
We can help you choose a lender that will take a common sense approach to your situation and future plans.
Speak with one of our mortgage brokers by calling us on 1300 889 743 or by completing our free online application form.
) [1296] => stdClass Object ( [post_id] => 98177 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>Predicting defaults isn't any easy process.
Typically, they can only be identified after you miss settlement.
It's then followed by a lengthy process to nullify contracts and resell the asset.
Off the plan buyers
When the property market slows down with a lot of people buying off-the-plan, then during the time of settlement, there's the risk that property values will drop compared to the contract price of the property.
This means that when you settle the property, it's valued at a much lower price than what it was contracted for. You may then be required to top up your deposit to make their LVR (Loan to Value Ratio) stack up to what they agreed on.
They can also work out another arrangement with their lender but this can be a difficult if you consider the recent situation of the housing market.
How can regulatory changes increase my settlement risk?
Regulatory changes made by government authorities more or less add to your settlement risk.
For instance, around the end of 2015, the Australian Taxation Office (ATO) launched a new program to ensure that property owners were meeting their tax obligations. This program affected property investors, significantly lowering their investment property borrowing power.
As a result, the settlement risk also increased because of the more restricted lending criteria set by the banks.
If you would like to know more about how these changes can affect your settlement risk then call us on 1300 889 743 or fill in our free online assessment form today!
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Have You Saved A Deposit?
A large enough deposit should be your priority when buying your first home. The size of the deposit required will depend on the value of the property and the amount you are borrowing, otherwise known as the loan to value ratio (LVR).
As a general rule, this is how much you will need to buy a house:
For an existing property: 9% to 10% of the purchase price
For a new property: 2% to 5% of the purchase price
Please use our FHOG Calculator to find out what grants and stamp duty exemptions you may be eligible for.
You may also be eligible for the federal government's new Scheme called the First Home Loan Deposit Scheme.
Ultimately though, the more you can save for a deposit, the better!
This helps reduce the amount you have to pay in Lenders Mortgage Insurance (LMI), a one-off fee charged when you borrow more than 80% LVR.
You can find out how LVR affects your LMI premium by using our LMI Calculator.
Most lenders have also introduced a mandatory genuine savings policy for everyone who applies for a home loan. Policies are changed regularly so please check our genuine savings page to find out if you can qualify for a loan.
Most banks would like potential borrowers to have a separate savings account with at least 5 per cent of the purchase price.
Our specialist mortgage brokers know the banks’ policies so enquire online or call us on 1300 889 743 to find out what else qualifies as genuine savings.
What Might Stop You From Getting A Loan?
The banks want a low-risk borrower, that is, someone who will pay back their loan in full and on time! The purpose of the loan and, in particular, having a good or bad credit history can have a significant impact on which lenders you can qualify with. Recently, banks have developed and implemented their credit scoring systems. This takes into account:All lenders view risk very differently, but our credit score calculator can give you a great guide of what they’re looking for.
Having a ‘black mark’ on your credit file doesn’t necessarily mean you will be declined, but you may hit a wall when a bank’s credit department handles your application. Applying with the right lender for your situation is the key to getting approved.
Not many lenders approve home loans when you have multiple or combined credit issues, whether you’re dealing with a bank or a specialist lender.
For instance, if you’re currently on a probationary period at work, earning part of your wage as a bonus and applying for a guarantor loan, a lender may accept one, but they won’t accept all three! Even with a clean credit file, your income, family situation and having unsecured or outstanding debt are just some of the factors that determine the amount you are eligible to borrow.Consolidating debt and cancelling credit cards are two ways that you can improve your borrowing power.
One of our specialist brokers can provide you with an assessment of which home loans you can qualify for. Enquire online or call 1300 889 743!
Organise Your Team
Putting together a team of experts should be done prior to negotiating on the price of the property.
To get the best advice, it’s ideal to have:
Conveyancing costs can range from around $400 all the way to $2000 but it’s important not to choose a conveyancer just because they’re the cheapest.
Most people know friends or family who have bought a house so they can recommend a solicitor for you.
Better still, have a look at our list of recommended conveyancers for each state.
Get Pre-approved
With the help of one of our mortgage brokers, you can work out which lenders you qualify with and which home loan is most suitable.
We will collect your supporting documents, such as payslips and bank statements, before submitting your application to the bank that you have chosen.
Some banks issue a pre-approval within a few hours, others can take up to a week. On the spot pre-approvals aren't always reliable, so be careful! Ask your mortgage broker for an estimate of how long it will take your lender.
If your situation is complex then you may need to provide further information or documents to the bank. This can delay the process by a few days, so it is important that you apply for pre-approval before you begin looking for a property.
A pre-approval means that your home loan is basically approved subject to the bank accepting the property that you plan to buy. Not every property is accepted by the banks, so take a look at our property types page before you make any offers.
You should aim to get pre-approval six months prior to buying a house!
Please check out the "How long does it take to get a home loan approved?" page if you'd like to know about the steps and the time-frame to getting final approval.
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A "non-standard" loan is any loan type that is uncommon, complex and does not get processed by the bank using their normal procedure.
The banks would consider these transactions to be non-standard:
Do you need help with a tricky application? Call us on 1300 889 743 or enquire online and one of our mortgage brokers can help to get your loan approved.
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You calculate the LVR by dividing the loan amount by the actual purchase price or valuation of the property, then multiplying it by 100.
For example, let’s say that you’d like to borrow $240,000 and the property you're using as security is valued at $300,000.
The LVR of the home loan would be calculated like this:
($240,000 loan ÷ $300,000 property value) x 100 = 80% LVR
Have you used any of the other mortgage calculators?
Some may apply to your situation.
Call us on 1300 889 743 or complete our free online assessment form to find out what your LVR means for your ability to borrow.
) [1300] => stdClass Object ( [post_id] => 98204 [meta_key] => add_site_layouts_2_post_editor_option [meta_value] =>
By getting a home loan pre-approval, you get to know how much you can borrow so you save time and effort to house hunt for properties that fit your budget. Besides this, there are other benefits to getting pre-approved:
However, a pre-approval does not guarantee that you will get final or unconditional approval for a home loan. You still need to go through the lending process to get approved.
Get the help of Home Loan Experts in obtaining a pre-approval for a home loan. We care about helping you take the right step toward getting the property you want. Call us on 1300 889 743 or complete our free online assessment form today.
) [1301] => stdClass Object ( [post_id] => 65102 [meta_key] => add_site_layouts_30_post_editor_option [meta_value] =>
Investing in property can be a powerful wealth-building strategy, offering opportunities for rental income, capital growth, and tax benefits. By understanding the market, choosing the right investment strategy, and selecting suitable property types, you can make informed decisions that align with your financial goals.
If you want to know more about investing in property or are ready to take an investment loan for your next property, Home Loan Experts can help you. Call us on 1300 889 743 or enquire online today.
) [1302] => stdClass Object ( [post_id] => 68952 [meta_key] => add_site_layouts_34_post_editor_option [meta_value] => Getting the keys to your dream home might seem like a pipe dream as property prices keep rising every month. But following the tips below can help you buy your dream home sooner.If you’re not sure about how to add your partner to your property title or you’re having trouble dealing with your bank, we can help you.
We have mortgage brokers with many years of industry experience and we know how to get things done and what to look out for in this situation.
You can discuss your situation with one of our credit specialists by calling us on 1300 889 743 or by enquiring online
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While you’re living in the home there is no real difference between the ordinary loan and the loan with an offset. But if you decide to move out of your home and rent it out there’s a huge difference for tax.
Imagine again that you had been paying off your $500,000 loan for years, but this time all extra repayments were put to the offset account. So the loan is now $300,000 with an offset account balance of $200,000 which means that the net debt is $100,000.
You redraw $200,000 for your new place and rent out your old place. Your loan would now stay at $300,000 and the deductible loan interest will be based on the net debt in your loan account of $300,000.
This is a much better tax result. It takes into account the possibility of future changes in your life and still gives you a good tax outcome.
Please call us on 1300 889 743 or enquire online if you’d like further information.
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Ask a question on our comments section below, call 1300 889 743 or fill in our free assessment form.
One of our mortgage brokers can let you know if there are other lenders that don't require a stat dec.
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There are a number of factors that banks and lenders look at to determine your eligibility for a commercial loan:
Do you qualify for a mortgage to buy a mixed use property?
Please call us on 1300 889 743 or complete our free assessment form to find out how we can help you.
) [1307] => stdClass Object ( [post_id] => 71729 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => You can use these tips to prove to the lender that you are not a risky borrower:If you want to negotiate a lower repayment with your current lender and do not want to refinance, we can help you through the process. Sometimes, your lender might refuse to reach an agreement. In that case, we can explore viable refinancing options. Call us on 1300 889 743 or enquire online today.
) [1308] => stdClass Object ( [post_id] => 83787 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Getting a home loan to pay out a divorce settlement, property settlement or separation agreement is assessed by the banks as both a purchase and a refinance. For this reason, lenders will assess your loan application in a different manner, applying different lending criteria:) [1309] => stdClass Object ( [post_id] => 76346 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => If you’re not sure about how to add your partner to your property title or you’re having trouble dealing with your bank, we can help you. We have mortgage brokers with many years of industry experience and we know how to get things done and what to look out for in this situation. You can discuss your situation with one of our credit specialists by calling us on 1300 889 743 or by enquiring online
) [1310] => stdClass Object ( [post_id] => 35791 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Getting a home loan to pay out a divorce settlement, property settlement or separation agreement is assessed by the banks as both a purchase and a refinance. For this reason, lenders will assess your loan application in a different manner, applying different lending criteria:
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Mutual banks offer an additional discount for essential workers. You have to be a member to get the benefits.
Can Casual/Part-Time Teachers Also Qualify?
Yes, if you’re a casual or part-time teacher you can indeed qualify for home loan benefits for teachers. Here are some points on how lenders assess your income:
With our expertise, we can help you further optimise the loan application process by making sure we follow all the bank's rules, so you can borrow as much as possible for your situation. Just give us a call at 1300 889 743 or fill out our free online assessment form, and we'll be in touch to help you.
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The ideal time to remove the guarantee is when you owe less than 80% of the value of your property.
There are several reasons for this:
We usually only recommend that you remove the guarantee earlier if there’s a need to do so.
How Much You Owe Matters
What matters most to the banks is your Loan to Value Ratio (LVR), which is the percentage of your remaining loan amount against the value of your property.
For example, if you originally borrowed $525,000 (which includes the associated costs of completing the purchase including stamp duty and conveyancer fees) on a $500,000 property then your LVR was 105%.
If you have since paid the loan down to $400,000 then your LVR is 80%.
Your LVR may, in fact, be even lower than this if your property has grown in value.
Nevertheless, once your LVR is at 80%, you can remove the guarantee and avoid Lenders Mortgage Insurance (LMI).
Some people are under the impression that the guarantee is automatically removed when you owe less than 80% of the property value. Unfortunately, this isn’t the case!
You need to apply for a loan guarantor release, otherwise it will stay in place for the life of the loan.
If you or your parents really want to, some lenders will actually allow you to remove the guarantee once your LVR is at 90%. However, you’ll have to pay an LMI premium.
Removing The Guarantee At 90% LVR
You’ll need to internally refinance your mortgage.
If your bank isn’t offering you a competitive rate, it may be worthwhile to speak to us, and we’ll let you know which other lenders are available.
Keep in mind that different banks will value your home at different amounts. We can order an upfront valuation with more than one lender, which allows you to choose the lender with the highest valuation.
Removing The Guarantee At 80% LVR
With most lenders, we can complete a valuation request, and they will remove the guarantee without changing the loan.
One lender that works in this way is St George Bank.
With other lenders like CBA, their guarantor loans are set up as two loan accounts. One at 80% LVR and the other for anything above that.
Because of this, you just need to pay off the loan account for the additional amount and you can leave the other remaining.
If your property has increased in value, you’ll need to increase your loan amount on the loan account in which you owe 80%.
If it’s all too complicated, don’t worry!
Just call us on 1300 889 743 or enquire online to discover how we can help.
) [1313] => stdClass Object ( [post_id] => 43830 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Call 1300 889 743 or fill in our free assessment form today to speak with one of our mortgage specialists.
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Are you a self employed contractor?
Self employed contractors are usually sole traders with a registered ABN who invoice their employer and then pay for any expenses such as their own wages from their business' income.
In other cases they set up a company or trust which enters into the contract, which then employs them on a PAYG basis.
Management consultants in most cases come under the category of self-employed contractors.
Most self-employed borrowers need to be in their current role for two years before they can get a mortgage. However, one of our lenders looks favourably upon contractors and those working on commissioned jobs if they just contract to one main employer and if they work for an hourly or daily rate.
In these situations, you'll need to prove your current income with your invoices as well as your prior income in past roles.
If you're in a white collar profession and have no expenses of your own then we can help you even if you've been in your job for just one day!
If your pay fluctuates significantly then you may need to prove more than a 12 month employment history to enable the lender to accurately determine your income.
Generally the lender will calculate your average income less any GST component and taking into account 2 - 4 weeks in unpaid holidays each year.
We can help self employed contractors in most situations, even if they have set up their own company which invoices the company they contract to.
In particular, if you have no staff other than yourself and no major expenses, one of our lenders can approve a loan for you!
We deal with self-employed contractors on a regular basis so we know how to get your home loan approved!
Speak to a member of our team today on 1300 889 743 or complete our free assessment form and find out how we can help you obtain a mortgage!
to discover how we can assist you in securing a home loan
Are you a mining contractor?
Mining contractors are a special case because they earn some of the best salaries in Australia. However, they may have fixed term employment contracts or may move between mines depending on the availability of work.
One of our lenders can approve mine worker home loans by taking a common sense approach and acknowledging that most workers can easily find alternative employment in the event that their contract is not renewed.
Are you an IT contractor or IT consultant?
IT consultants are the most common type of contractor that we work with. Specialist IT advisers are some of the highest paid workers in Australia yet many lenders don't understand their industry and decline their loan applications!
Due to the low number of skilled IT consultants in Australia and the high demand from employers we believe IT industry contract workers are actually a very low risk and so we are happy to assist you.
Are you a construction contractor?
A construction contractor may work on a construction project until its completion or the contract may be rolling so that they continue to take on projects for the company. If the contractor provides his own materials he may be considered by the banks as being self-employed.
This means that he will be assessed in the same way as a self-employed contractor and may be required to provide the bank with two years' recent tax returns. However, if they just provide the labour, they may be assessed like any other contractor.
Are you a freelancer or journalist?
Freelancers are typically paid on a per article basis or are employed for several projects.
As a freelance worker your income can be assessed using several different methods depending on the frequency, reliability and ongoing nature of your income.
Are 100% LVR home loans available for contractors?
) [1315] => stdClass Object ( [post_id] => 86860 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Our passionate team of specialist mortgage brokers is dedicated to helping you every step of the way. Start by using our investment property calculator to get a clear picture of your potential cash flow. Then, let us guide you to the best investment loan personalised for your needs.
Call us on 1300 889 743 or fill in our free online assessment form.
) [1316] => stdClass Object ( [post_id] => 29159 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Looking for a farm loan on good terms and a low interest rate? So is everyone else!
Our mortgage brokers are specialists in loans for buying a farm.
They understand that apart from getting a great interest rate, getting your loan approved at the highest Loan to Value Ratio (LVR) is just as important to your business over the long term.
It’s often much better to put your money to work in the business rather than trying to save up a large deposit.
We can help you find a product and set up your farm loan in a way that best suits your needs and support you in achieving your agribusiness goals.
Getting a mortgage that works for you rather than against you is the key when trying to run a strong farming enterprise and we understand this.
Best of all, we can do all of the loan shopping for you with almost 40 lenders to choose from!
Call us on 1300 889 743 or fill in our free assessment form to get an indicative funding approval for your farm loan.
) [1317] => stdClass Object ( [post_id] => 330 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Some lenders prefer to use a third party insurer such as PMI or Genworth to insure their loans. Other lenders have their own in house insurance companies and so, are insuring themselves. A few select lenders simply charge you a "risk fee" and approve your loan without LMI, but in effect have achieved the same goal under a different name. One prominent example of this is St. George with their "LEF" risk fee as well as their own insurer St. George Insurance (SGI).
) [1318] => stdClass Object ( [post_id] => 80063 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Are you looking to cash out or release equity for your future investments or renovations? Our team of experts is here to help you get approved for the loan you need. We specialise in finding solutions for people in even the toughest financial situations. With over 50 lenders on our panel, we have a wide range of options to choose from to meet your unique needs. Call us on 1300 889 743 or fill in our free online assessment form. ) [1319] => stdClass Object ( [post_id] => 36057 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
When it comes to a borrowed deposit home loan, you'll need to provide the bank with a loan agreement that you've made between you and your family.
This can be drafted up by a solicitor at a cost, which can vary depending on the practice and where you're located.
You and your parents should seek separate legal advice to discuss what would happen if you're unable to repay your borrowed deposit or in the event you can't make your mortgage repayments.
To safeguard against this, your parents may decide to secure their loan with a second mortgage, otherwise known as a caveat.
In this case, the first mortgage will continue to be held by the original lender and each mortgage paid off in order of priority.
That means if the property needed to be sold, the first mortgage would be paid out with the remaining used to pay out the second mortgage and, hopefully, your parents' loan.
Please call us on 1300 889 743 or fill in our online enquiry form to discuss your situation with one of our mortgage brokers.
We cannot provide legal or financial advice but we can explain how a borrowed deposit home loan works so you can make an informed decision.
Is there a cheaper option than using a solicitor?
Although we still advise getting legal advice, you can set up an agreement using credi.com and other online platforms.
Platforms like credi.com also ensure that you're on top of your repayments because you're sent notifications when your repayments have cleared, have failed to go through and they're overdue.
Credi.com charges a one off $10 account-keeping fee and a monthly $3.99 management fee which you start paying once you and your parents e-sign the agreement.
It's charged for the life of the loan but you can stop and start the service at any time.
) [1320] => stdClass Object ( [post_id] => 446 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
The secret to finding the best possible loan is to find a lender to assess your loan as a residential loan and not as a business or commercial facility.
Banks often refer loans for multiple units on one title to their commercial divisions so that they can charge a commercial rate and make more money!
If your loan is assessed as a commercial loan, the amount you can borrow, known as the Loan to Value Ratio (LVR), reduces significantly.
We can’t always get your loan assessed as a residential loan but we’ll always try to find you the cheapest lender for your property type.
Speak with one of our mortgage brokers today by calling 1300 889 743 or complete our free assessment form so we can find you the best deal available from our panel of lenders.
) [1321] => stdClass Object ( [post_id] => 13591 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Banks monitor their existing customers' performances and keep track of which professions make their payments on time, every time, and which tend to have higher rates of default on their home loans.
The lowest risk professions are:
If you work in these professions you may not be eligible for a special interest rate discount unless you borrow a tremendous amount.
Despite this, lenders are more flexible with their lending policies for people in the above professions. In other words, they want your business because they know that the likelihood of you making your repayments on time is very high.
Some professions, such as builders, are considered to be a higher risk than other borrowers and their loans will be scrutinised by the lenders, particularly if they are applying for a low doc loan.
If you think you fall into this category of borrower, enquire online or call us on 1300 889 743 to discuss your situation with one of our expert mortgage brokers. Depending on your circumstances we may still be able to secure you a great discount!
) [1322] => stdClass Object ( [post_id] => 30524 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => In a guarantor home loan, you require a potential guarantor to guarantee your loan. A guarantor provides a guarantee, or security, for your home loan, which is usually secured on the guarantor's property. The aim of this strategy is for home buyers to enter the property market. The guarantee can be removed once you've paid off part of the loan or if the value of your property increases.
Who can be a guarantor?
Unlike 106% home loans, a guarantor is required to provide a guarantee on your home loan. As a general rule, only parents or immediate family members are accepted as the guarantor by most lenders. However, there are some lenders who will accept anyone, even your friends and workmates.Why should I consider a guarantor loan?
In recent years, guarantor loans have become more popular among Australians. This is because:We know some lenders that don’t always require a full valuation. You can discuss this with one of our mortgage brokers by calling us on 1300 889 743 or by filling in our free online assessment form.
) [1324] => stdClass Object ( [post_id] => 46535 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => As mortgage brokers, we increasingly see some borrowers try to hide their debts from banks in an attempt to borrow more. It's irresponsible to do this and, at worst, it is fraud. Ultimately though, all of your debts appear on your credit file, and lenders will check your bank accounts anyway. If you don't declare your debts to the lender, then they'll decline your application on the spot and may put you in a database of known dishonest borrowers. Solutions:
A number of our other lenders are able to do upfront valuations on a case-by-case basis.
Contact one of our expert mortgage brokers to see which banks will give the best value for your property.
Call us on 1300 889 743 or complete our free assessment form to find out more.
) [1326] => stdClass Object ( [post_id] => 45324 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Lenders charge Lenders Mortgage Insurance (LMI) if you borrow more than 80% of the property value.
This is charged because borrowing at such a high Loan to Value Ratio (LVR) represents a greater risk that you will default on your home loan.
The premium protects the bank in case of default, not you as a borrower and it can cost you many thousands of dollars.
Physicians are seen as low-risk borrowers so some of our lenders allow you to borrow 100% of the property value and won't charge a mortgage insurance premium.
To qualify:
Call 1300 889 743 or complete our free assessment form to find out if you can get approved for a physician home loan.
) [1327] => stdClass Object ( [post_id] => 59758 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => A lender on our panel is offering waived LMI on a 95% home loan for medical interns and residents. There is no minimum income requirement. To qualify for no LMI on a 95% home loan:
Are you a medical intern?
There are a few lenders in our panel that can accept medical interns under their LMI waiver policy. To qualify, you would require:Are you a medical resident?
As far as eligibility criteria for ‘Medico’ loans go, a few lenders include hospital-employed doctors as preferred medical professionals. These include interns, residents, registrars, and staff specialists. If you’re a medical resident, you will have to confirm your qualifications and employment through the same documents as a medical intern. However, policies vary from lender to lender and some may require additional documents. Please call us on 1300 889 743 or fill in our free assessment form to confirm the policies with one of our specialist mortgage brokers.) [1328] => stdClass Object ( [post_id] => 68227 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
If you have made up your mind to purchase your first apartment, we can help you find your ideal lender, with the best mortgage rates. And if you’re still not sure, our Experts are here to analyse your situation and help you make the right decision. Browse through 50+ lenders on our panel and find the one to suit your home loan needs the best. Reach out to us on 1300 889 743 or fill in our online assessment form today to find out if you qualify.
) [1329] => stdClass Object ( [post_id] => 79469 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Our mortgage brokers are experts at helping you get approved for any of the schemes and grants or home loan options. We’ve helped thousands of first-home buyers realise their dreams of home ownership. You could be next. Call us on 1300 889 743 or complete our free online assessment form today. ) [1330] => stdClass Object ( [post_id] => 17122 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => More often than not, banks are not concerned with the circumstances that resulted in a court writ on your credit history. They just care that it’s there! If it was your fault or not, the banks still see you as a high risk borrower that may default on their loan. Sometimes your best option is to provide good evidence with strong supporting documents as to why you are not a high risk. For instance, if the court writ was due to a business failure and you managed to find new work, or you have been on time with other credit payments. Even then, getting a lender to listen to your situation isn’t easy! There are borrowing options out there if you can provide sufficient evidence to make a case. Please call us on 1300 889 743 or enquire online to see how we can help you.) [1331] => stdClass Object ( [post_id] => 35153 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Some lenders restrict the amount you can borrow or the Loan to Value Ratio (LVR) when it comes to SMSF lending.
Most lenders will limit your borrowing to 75% of the property value but, with others, you may be able to borrow up to 80% of the property value.
It may not sound like a lot, but an extra 5% can mean the difference between getting a great investment property with strong rental returns and missing out.
For commercial property, you’re normally limited to borrowing up to 70% of the property value.
Need help to compare SMSF loans?
Not many mortgage brokers understand SMSF and trust loans, but we do! We’re credit experts and understand the complexities, even when the banks don’t!
Call us on 1300 889 743 or complete our free assessment form and discover how we can help you borrow for your SMSF.
) [1332] => stdClass Object ( [post_id] => 314 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
We’re no deposit lending specialists and we have a passion for property investment. We’d love to help you with your next investment so why not complete our free online assessment form or call us on 1300 889 743 and find out what we can do for you.
) [1333] => stdClass Object ( [post_id] => 21184 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>For construction loans, the loan offer will need to be signed and returned as it would be for a purchase or refinance.
However, the bank will also ask for further evidence which will need to be provided by the builder. This includes council approved plans, his builders insurance and drawdown schedule.
Banks can be unreliable and can sometimes lose your documents. To avoid this and possibly delaying your settlement, ensure your signed loan agreement and any supporting documents are returned to the bank in one go.
Do you want to apply for a construction loan? Call us on 1300 889 743 or complete our free assessment form and we can explain the entire process.
) [1334] => stdClass Object ( [post_id] => 34960 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Instead of building a property, we can help you get approved for an SMSF loan to buy a residential or commercial property.
By choosing the right lender, we can help you to borrow up to 80% of the property value.
For a commercial property such as an office building, retail shop front, warehouse or factory, you may be able to borrow up to 70% of the property value.
No matter the type of property you want to buy, we can often negotiate sharp interest rates by packaging the deal with the bank's residential lending department, rather than the commercial and business arm.
Discover how we can help you with an SMSF loan!
Call 1300 889 743 or complete our free assessment form to speak with one of our experienced mortgage brokers.
This should not be taken as financial advice. You should speak to your financial adviser and accountant to ensure that you're acting in your best financial interests and within the rules set out under SMSF legislation. These regulations change regularly, so don't get caught out!
) [1335] => stdClass Object ( [post_id] => 46874 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
There is no hard-and-fast rule.
Some argue that continuing to make extra repayments at the 10-year mark is not as effective as it would have been previously.
Should you wait 10 years to invest?
Not necessarily and you have to consider time in the market as opposed to timing the market.
Paying an extra $200 into your mortgage can save you almost $160,000 in interest and shave more than 8 years off a $500,000 mortgage (5.50% p.a.).
Sounds great but wait!
You could instead borrow $400,000 to purchase a $500,000 investment property and find that in 5 years, the price increases to $800,000.
If you were to sell the property making minimum repayments on the investment loan, your return on investment may be upwards of $460,000.
Try the mortgage calculator and the extra repayment calculator and then call us on 1300 889 743 to find out if you're in a position to use equity in your home to buy an investment property.
) [1336] => stdClass Object ( [post_id] => 46288 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>A fast approval
After pre-approval, Sam and Jane paid their 10% deposit and expected to wait close to four weeks to reach home loan settlement because it was close to Christmas.
Thanks to her relationships with the key decision-makers at the lender, Azita was able to reach settlement in just two weeks.
She also negotiated a sharp interest rate on their behalf.
Sam and Jane move in
The couple is enjoying their new home in Ku-ring-gai, and the many trails peppered close-by.
All things being equal, they also stand to make a solid return on investment when they decide to sell and upsize their home to start a family.
Do you need help getting approved for a new job home loan?
Call us on 1300 889 743 or fill in our free assessment form today.
Azita and the rest of our mortgage brokers are credit experts who understand how to get tough loans approved.
) [1337] => stdClass Object ( [post_id] => 21672 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>One of our mortgage brokers will complete a preliminary assessment of your situation. If there is another option available such as a guarantor loan or 95% home loan then we’ll normally recommend those instead.
If we determine that you are suitable for this type of finance and can afford the repayments then we’ll organise a personal loan to fund your deposit.
Once the personal loan is approved we can then can submit your home loan to be pre-approved. The personal loan may be advanced before the home loan to allow you to put down a deposit when you sign the contract of sale.
You can buy at auction or via a private purchase as long as you have a valid pre-approval. Because you do not have the additional funds required if a valuation comes in low, we recommend that you avoid an auction if possible. It is often better to buy a property with a cooling off period.
Call us on 1300 889 743 or fill in our free assessment form to find out if this is suitable for you.
) [1338] => stdClass Object ( [post_id] => 23425 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
You may be able to use the following documents as alternative forms of income verification but it's not always straightforward.
Profit forecasts based on projecting past business growth or increased turnover from moving your business to a new premises are often accepted by some of our banks as a full doc loan rather than a low doc loan. That means you can borrow more and get an interest rate that's a little bit sharper.
Interim financial statements for your business that cover at least half of the financial year give a lot of strength to your application if your previous years incomes weren't strong enough to prove that you could afford the loan. The more evidence that you can provide, the easier it will be for our brokers to build a strong case to one of our banks.
In some cases, one of our lenders will allow you to pre-pay interest which can add strength to a full doc application. This is on a case by case basis and only works if you have a large enough deposit to pay the interest a year in advance.
Did you know our mortgage brokers are credit specialists, not salesmen? Give us a call on 1300 889 743 or fill in our free assessment form and we'll let you know how we can help.
) [1339] => stdClass Object ( [post_id] => 944 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Property investors often see their accountant, setup their trust, then go to their bank to get a pre-approval for a loan.
A problem then arises as most banks want all of adult beneficiaries to be guarantors for the loan!
This means that in order to get a loan, they must put their son, daughter, spouse, a friend, parents & any other beneficiaries on the loan. Without doing so, their loan application will not be approved.
They would all need to provide income, asset & liability details as well have meet other borrowing criteria.
This becomes incredibly cumbersome, and of course many beneficiaries do not want to be personally responsible for the family trust's loan.
The solution?
Not every lender requires beneficiaries to be guarantors!
The secret is to apply with a flexible lender that has competitive pricing and a reasonable policy regarding guarantees from beneficiaries.
To find a lender that will approve your loan and offer you the best interest rates around, please enquire online or call us on 1300 889 743 and one of our mortgage brokers will help you to find the best solution for your situation.
) [1340] => stdClass Object ( [post_id] => 490 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Borrowing money for a stratum title or group title unit is not as straight forward as for a normal apartment. By using a specialist mortgage broker you can find out who will lend you the most money and still give you a competitive home loan.
Call us on 1300 889 743 or fill in our free assessment form to find out which lenders can help.
[wbcr_snippet id="73535"] ) [1341] => stdClass Object ( [post_id] => 34954 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Our mortgage brokers are specialists in business finance and franchise loans. Firstly, we're credit experts that know how to "package" an application so you have the best chance of getting approved. Secondly, we've developed strong relationships with the key decision-makers in the commercial lending arms of major banks and lenders. That means we can often negotiate heavily discounted interest rates and higher borrowing limits for strong applicants. It all comes down to the strength of your case and the business proposition we can build. Call us on 1300 889 743 or fill in our online enquiry form and discover how we can help you achieve your business owning dreams.) [1342] => stdClass Object ( [post_id] => 65317 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => You must prepare your finances and obtain pre-approval before you bid at an auction. By doing so, you enter knowing what you can afford (and what you can’t). There is no cooling-off period at an auction, so you need to make sure you don’t overbid. If you do overbid, you might be compelled to break the contract of sale, for which you could incur financial or legal penalties. On the other hand, if you underestimate the property’s value and underbid, you might risk dropping out of the competition early.That is why you need to understand two crucial things from the beginning:your budget and the market.
Know Your Budget And Set Your Maximum
The primary purpose of an auction is to secure the highest price possible for the vendor. That is why you need to figure out your maximum and stick to it. By doing so, you can bid confidently and avoid falling into the trap of overbidding.If you need help to determine your full borrowing power, our expert brokers can help. Call Home Loan Experts on 1300 889 743 or fill in our free online assessment form today.Know The Market Where You’re Bidding
The other crucial thing you need to understand is the market you’re targeting, so you have a good idea of what the property is worth relative to others in the same market. You can evaluate the market using various resources on the web to search for how much properties in the area have sold for in the past. You can also do your due diligence by ordering a building and pest inspection of the property. We can help by offering property or suburb reports, which provide crucial information. ) [1343] => stdClass Object ( [post_id] => 31690 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Banks have many types of commercial property loans on offer. The pricing of these loans usually depends on the application itself.
There are other specialised commercial loans as well, including:
You can also take out a commercial loan using your super fund. However, you'll need to watch out for higher interest rates.
Our mortgage brokers specialise in commercial property loans. We can help you apply for the right commercial loan with the right lender at a competitive rate.
You can speak with one of our brokers by calling us on 1300 889 743. If you want one of us to contact you instead, you can simply complete our free online assessment form.
) [1344] => stdClass Object ( [post_id] => 34783 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>The second thing banks generally consider is what you intend to use the property for.
If you're intending to use the land for farming or any other commercial use, you'll need to apply for an agribusiness loan instead which can come with much higher interest rates.
Even if you're simply using it as a lifestyle block or a home away from home, it's not necessarily that simple to qualify for the cheaper pricing of a rural home loan.
Firstly, the bank wants to know you're not relying on income generated from farming activies in order to afford the loan.
Secondly, banks will look at the property on face value and if they see signs that it has the capability of operating as an income-producing enterprise, they may prevent you from going down the residential loan path.
Specifically, they'll be looking to identify any of, but not limited to, the following:
That's not to say that you can't necessarily earn a bit of extra cheddar on the side to supplement your income.
Generally speaking, lenders will allow you to earn up to $20,000 in gross income from any farming activities you undertake on your property.
If you want to buy an agribusiness we can help you finance it!
Call us on 1300 889 743 or complete our free online assessment form and we can help you put together a strong case with the right lender to get you the commercial loan your need.
) [1345] => stdClass Object ( [post_id] => 35490 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Many of our mortgage brokers have actually worked in some of Australia's largest banks as the person actually approving and declining commercial loans.
Because of this, they know how to present an application to get it over the line.
Commercial loans aren't regulated under the National Consumer Credit Protection Act 2001 (NCCP Act) so you have to present your application like a business proposition.
We also have strong relationships with the key decision-makers which means we're in a position to negotiate on commercial interest rates.
We can also help you to borrow up to the maximum Loan to Value Ratio (LVR) based on your financial situation.
Sound confused?
Call us on 1300 889 743 or fill in our online enquiry form today and we'll take care of the rest!
) [1346] => stdClass Object ( [post_id] => 80205 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Amidst the uncertainty, there’s a silver lining. Preston explains, “Similar to the buying opportunities we saw last year, there could be another opportunity to pick up properties at discounts. We just have to ensure people feel confident enough to act. In 2022, people were holding off for lower rates and lower prices – and neither of those has happened.” At Home Loan Experts, we are here to help you through rate rises. Call us on 1300 889 743 or enquire online.
) [1347] => stdClass Object ( [post_id] => 32684 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>We aim to delight our clients and operate ethically for the benefit of society.
The path we follow to achieve our mission is by helping customers who are being let down by the Australian banking system.
We want to help people in tough situations and believe that our customers aren't short-term payoffs but lifelong clients!
Our mortgage brokers are always ready to help. Simply call us on 1300 889 743 or complete our free online assessment form and find out for yourself how we can help you manage your home loan.
) [1348] => stdClass Object ( [post_id] => 1595 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Most banks assess the gross income only without taking any salary sacrifice tax benefits into consideration.
Our best lender for salary packaging can assess part of your income as tax-free, which means they can lend you significantly more than other lenders.
They'll accept 100% of your packaged income as long as it's consistent and can be verified with an employment letter.
Please contact us on 1300 889 743 or fill in our free online assessment form to discuss your situation.
We can help ensure that your packaged income counts!
) [1349] => stdClass Object ( [post_id] => 54290 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
To reflect the impact of the restrictions due to the COVID-19 pandemic has had on self-employed Australians, many lenders are restricting the maximum amount they can borrow to 80% of the property value. This policy change affects both self-employed owner-occupier and investment home loans.
However, please note that there are plenty of other lenders who can still consider higher LVR (loan to value ratio) loans.
In addition, a few lenders now require you to prepare a COVID-19 impact statement where you’re required to outline:
Our mortgage brokers can help you prepare a COVID-19 impact statement which is the key to getting approved as a self-employed borrower.
Call us on 1300 889 743 or fill in our online assessment form to speak with one of our specialist mortgage brokers who specialise in self-employed home loans.
) [1350] => stdClass Object ( [post_id] => 8399 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Whilst there are a number of lenders willing to lend up to $1 million at 95% LVR, most will only approve up to $700,000 or $800,000.
Although the lenders mortgage insurer restrictions prevent most borrowers having more than $1,000,000, there is one lender that has a special deal with its insurer. For people in an extremely good financial position, they can consider loans up to $1.5 million at 95% LVR.
The major difference when borrowing these sums with a 95 percent home loan is that you cannot borrow the cost of LMI. You must pay for it from the loan itself. Therefore the borrower will receive approximately 91.5% LVR.
Do you have a property in mind? We can help you apply for a $1 million loan at 90% or 95% LVR. Contact us today on 1300 889 743 or enquire online today.
) [1351] => stdClass Object ( [post_id] => 44225 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Psychiatrists are medical doctors because they are the only type of mental health practitioner permitted to prescribe medication as part of their overall treatment.
You actually need a referral from your GP and a mental health plan to see a psychiatrist, and the sessions are covered by a Medicare rebate.
Psychologists are not medical doctors and cannot prescribe medication.
Despite the fact that they are still highly trained professionals, it's this distinction that stops psychologists from qualifying for medico discount packages.
However, that won't necessarily stop you from getting a great interest rate, specifically if you earn a good income and are in an otherwise strong financial position.
Give us a call on 1300 889 743 or complete our online enquiry form to discover what negotiated rates we may help you qualify for.
) [1352] => stdClass Object ( [post_id] => 31185 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
The business loan refinancing process is fairly simple. If all goes well, you can refinance a business loan in five steps:
We have mortgage brokers who specialise in business loan refinancing. We can help you find and choose the right lender. We can also help you get approved.
You can speak with one of our specialists by calling us on 1300 889 743. You can also fill in our free online assessment form to find out if you qualify.
) [1353] => stdClass Object ( [post_id] => 49539 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Generally speaking, if you haven't checked your mortgage interest rate in the last two years, you're paying too much!
It’s best to simply compare the rates among lenders to see which one is offering the most competitive interest rates at the moment and refinance to a lower rate.
Whether there will be rate cuts in the future or not, our specialist mortgage brokers know exactly which banks and lenders are offering the most competitive interest rates on the market at any given time.
Get in touch with our award-winning mortgage brokers to get the best rate on your mortgage.
Give us a call on 1300 889 743 or fill in our online assessment form to discuss your needs.
) [1354] => stdClass Object ( [post_id] => 32531 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>As a basic rule, certain non-resident investors will need to notify FIRB when buying, or acquiring an interest of 20% or more, in a business valued at over $252 million.
This requirement is only for foreign investors and temporary residents and doesn't apply to:
What if I want to start a business in Australia?
You won't need FIRB unless you're a foreign government investor, that is a person or entity that will hold a substantial or controlling interest in the business.
So as long as you have the right business visa, you can start your business right away, avoid the $10,000 FIRB application fee and we can help you finance it!
We have a number of business loan solutions available from a wide variety of major banks and lenders, whether you need start-up capital or working capital such as invoice lending or equipment finance.
Call us on 1300 889 743 or simply fill in this enquiry form and we can provide a free assessment of your situation and business needs.
What if I want to buy a commercial property as well?
Different thresholds apply depending on the type of land and property that you want to buy:
For example, for developed commercial land such as buying retail shop front, a warehouse or an office building to run your business from, there's a threshold of $252 million.
However, for mining and production land, you must notify FIRB no matter the value of the tenement.
Check out the Commercial Property FIRB Approval page for more information on thresholds.
Can I avoid FIRB approval?
Australia regularly signs Free Trade Agreements (FTAs) with select countries and, because of this, certain FTA partner countries can actually buy or invest in a business valued up to $1,094 million without the need to notify FIRB.
Australia currently has agreements with the 10 member countries of the Association of Southeast Asian Nations (ASEAN):
This higher threshold doesn't apply to all of these countries nor does it apply to any foreign government investors such as a corporation or trustee of a trust in which a foreign government holds a significant interest.
In addition, depending on the sector, the sensitivity of the business and the FTA partner country that you're from, a lower reporting threshold may apply.
) [1355] => stdClass Object ( [post_id] => 51783 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Now that you know some of the common credit score misconceptions that can lead to bad decisions, it’s time to avoid these mistakes and manage your credit responsibly.
Get in touch with our brokers who are credit experts and know the credit requirements of different banks and lenders.
Call us at 1300 889 743 or fill in our free enquiry form.
) [1356] => stdClass Object ( [post_id] => 29438 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Higher LVRs
Our mortgage brokers can properly assess your situation and needs so you can borrow at the maximum Loan to Value Ratio (LVR) for your office.
That's because we have strong relationships with the commercial arms of almost 40 lenders including the major four banks.
Lower pricing
Our brokers are in a position to get you a great commercial interest rate!
With a commercial office loan, borrowers deemed risky will typically be charged a higher interest rate.
Put simply, the higher the LVR, the higher the rate you will be charged. As a general rule, interest rates on commercial loans tend to be 1-2% higher than home loans.
What makes Home Loan Experts different is that we're office mortgage specialists. We can build a strong case and find out which lenders will approve your loan so you can pick the commercial finance that's right for you.
On top of that, we can often negotiate a competitive interest rate and flexible loan terms on your behalf!
Call us on 1300 889 743 or fill in our free assessment form to get an indicative funding proposal for your office property.
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Even if you're using an investment property as security, banks will not allow negative gearing (i.e. a tax deduction of the loan interest) if you're using a home loan to buy company shares.
This is despite the fact that the Australian Taxation Office (ATO) focuses on the loan purpose, not the security used for the mortgage.
Can I avoid investment loans and business loan rates?
You will be stung with higher investment loan rates if you use an investment property as security.
The other problem is that the beneficial owner of shares may not always be you as the employee.
It may be a self managed superannuation fund (SMSF) or your partner or spouse.
This not only means that you will be charged with higher business loan rates but also confuses lenders and may change the way that they assess the loan.
You can avoid these higher fees by using your own home as security for the home loan.
We have lenders that can take a flexible approach.
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for an employee share scheme home loan.
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Give us a call on 1300 889 743 or fill in our online assessment form if you would like your rate reviewed by one of our specialist mortgage brokers.
) [1359] => stdClass Object ( [post_id] => 68937 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>With the right real-estate agent and mortgage broker by your side, buying a home online is not just a dream. Speak to our mortgage brokers, who can help you get approval for the most suitable loan from our diverse panel of lenders, all in a specialised online process.
Call us at 1300 889 743 or fill out this free enquiry form to get started!
) [1360] => stdClass Object ( [post_id] => 60666 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>If you’ve made up your mind to buy your first home at an auction, it would be best if you secured a reliable pre-approval from one of the major lenders.
Without a pre-approval, buying a property at an auction is usually a major financial misstep that may ruin your future. For more information, read through our comprehensive guide on purchasing a property at auctions.
Speak to our specialist mortgage brokers who can connect you to the lender best suit your situation and mortgage requirements. Give us a call on 1300 889 743 or simply fill in our free online assessment form today.
) [1361] => stdClass Object ( [post_id] => 70254 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Consumer confidence fell to its lowest level in about 18 months, due to the slowing property market conditions, rising fixed mortgage rates and affordability constraints. However, there are some emerging factors that may help boost confidence:
Our mortgage brokers will help you find the right home loan for your property goals. Whether you’re a first-home buyer or looking for your next investment opportunity, call us on 1300 889 743 or enquire online today.
) [1362] => stdClass Object ( [post_id] => 33677 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Get a good mortgage broker on your team!
Look for a mortgage broker that not only understand lending policy but one that has experience in property investing.
They will able to assess your overall situation and tell you what you can afford right now but also stress-test several scenarios to make sure you can continue to making repayments.
This is something a bank won't do!
If you're using a negative gearing strategy to invest and need an investment loan, call us on 1300 889 743 or complete our freeassessment form today.
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Simply, a debt consolidation guarantee loan allows a borrower to combine their debts into one loan.
This can include your credit cards, personal loans and any other debts that you may have. However, the debts shouldn’t exceed more than 5% of the property value.
How do banks assess my debts?
There are cases where the borrower has debts even if they're responsible with their finances or haven't overspent their credit.
When assessing your debts, banks usually try to determine whether your living circumstances is the reason for your debts.
Before you decide to be a guarantor for another person's loan, ask yourself:
Find out if you qualify for a debt consolidation guarantee loan by giving us a call on 1300 889 743.
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Although banks take annual business loan reviews pretty seriously, the policies and processes around commercial loans can be quite grey. Almost everything is negotiable!
In saying that, it’s important to understand what exactly happens when a bank downgrades the risk rating of your business.
What happens if I 'pass' the review?
If the bank is happy with your business health check, the best case scenario is that you don’t hear back from them for another year.
Of course, reviews and repricing can take place at any time the lender sees fit, particularly if you work in a fluctuating sector like agriculture or manufacturing.
What happens if I 'fail?'
If you’re financials aren’t quite up to scratch, some lenders aren’t quite exactly forgiving when it comes to the reasons why.
Sometimes you just have a bad year due to ill health or other personal issues.
Fortunately, the bank generally wants to work with its business customers to stop them from refinancing to another lender. As such, you may expect to go through the following:
What if I have a fixed rate business loan?
It’s possible to fix your interest rate for up to 10 years with a business loan or up to 30 years with a residential property as security.
What this means is that the bank won’t be able to increase your interest rate if they see that your situation has become a higher risk.
Despite this, they can still revalue your business in relation to the risks they see in the industry and may require you to pay down your loan to a lower LVR or put up more security for the business loan.
This happens all of the time and it usually means it’s time to contact your broker and refinance.
What if I have a fixed rate business loan?
It’s possible to fix your interest rate for up to 10 years with a business loan or up to 30 years with a residential property as security.
What this means is that the bank won’t be able to increase your interest rate if they see that your situation has become a higher risk.
Despite this, they can still revalue your business in relation to the risks they see in the industry and may require you to pay down your loan to a lower LVR or put up more security for the business loan.
This happens all of the time and it usually means it’s time to contact your broker and refinance.
Can I use equity to help my business?
Often business owners who have fallen on hard times just need a small business loan to cover their suppliers or unpaid client invoices.
Even if you just need $30,000-$50,000 to get your business moving again, your bank may not be willing to lend against the equity in an existing residential property that you own.
You’re already considered a risky client and they won’t generally be willing to take on any more risk.
We know many business owners that are asset-rich and we can help you borrow up to 85% of the equity in an existing property for business purposes.
If you need an equity loan for your business, complete our free assessment form and we can let you know if you qualify.
How does the bank look at the industry?
Although it forms a small part of the annual review, a macro look at the wider sector or industry in which the business operates is still important to the bank.
This is particularly true if the business is in anyway reliant on the manufacturing, resources or agribusiness sector.
For instance, if you’re a steel manufacturer or even a distributor in a regional town where steel plants are closing, your business loan may well be downgraded and the LVR lowered.
When the bank completes a risk-grading, they rely heavily on Moody’s and other credit rating data.
For each ANSIC (Australian National Security, Investigation and Collections) code, Moody’s will have a grading of the industry as either strong, medium or below average.
The banks are smart because they have the data to back it up. Pretty quickly they can see that a business is in trouble even if the owner doesn’t want to accept it.
What if I own the premises as well?
If, for instance, you’re running pub and you also own the freehold premises (the building and the land), there would still be annual review of your pub business loan (which will most likely include covenants) but there won’t necessarily be a review of the commercial property loan.
In fact, loans under $5 million for standard commercial properties come with no annual reviews at all with one of our lenders. The same goes for commercial loans with a LVR of less than 50%.
If there is an annual review, the only typical requirement is an Interest Coverage Ratio (ICR) of 1.5% along with a copy of the current lease in place.
In saying, specialised commercial properties like pubs, hotels, child care centres and medical practices may need to be revalued every 2-3 years compared to 5-10 years for standard commercial properties like warehouses, factories and offices.
If you own a specialised property, you can even be forced to do a valuation of property at your own expense. This can be anywhere between $10,000-$20,000 depending on the property.
Not all lenders have the same risk appetite for commercial properties!
You may not need to do a valuation on such a frequent basis if you choose the right lender.
Call us today
Some lenders take a more common sense approach to business loan reviews and we know who they are!
In need of a business loan to buy an existing business or to grow your own?
We have a number of business loan solutions available including equipment finance and invoice discounting.
Whatever your business loan needs are, call us 1300 889 743 today or complete our free assessment form to speak with one of our highly experienced mortgage brokers.
) [1365] => stdClass Object ( [post_id] => 20881 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>The lender will look at:
The interest cover ratio is the number of times over that the lease income will cover the interest on your loan. For example, if you applied for a $1,000,000 loan at an interest rate of 5% and the lender assessed your loan using a buffer rate of 7% then the lender would need to see $70,000 in net rent income for you to qualify for a lease doc loan.
If you were receiving $140,000 in rent income from the property then you would have 2x interest cover because you could pay the interest twice over.
Most lenders require 1.3x to 1.5x interest cover to approve a loan. However, some of our lenders can consider a 1x interest cover if you have a strong tenant and your property is in a good location.
What if I am just signing a lease now?
Although our banks prefer an existing lease agreement, they can consider a proposed lease agreement based on its merits.
Most lenders will require the lease to be fully executed and a bond paid before they will advance the loan.
Which lenders offer lease doc loans?
Major banks do not normally offer lease doc loans. Second tier banks, non-bank and specialist lenders are the main providers of lease doc loans.
We find that if you have a larger deposit and can reduce your loan to 70% or less of the property value then we can normally get your loan approved with a bank at a competitive interest rate.
Call us on 1300 889 743 or complete our free assessment form to find out which of our lenders is best for you.
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It's very common for banks and lenders to offer an offset account on their business loan facilities.
It really depends if you want a basic package or pay the costs of having the extra bells and whistles of a professional package.
As a general rule:
This is just a general guide only!
Please speak to one of our mortgage brokers on 1300 889 743 or complete our free assessment form and we can let you know if you qualify for an offset account
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This is where the banks really show a large difference in the way they read your tax returns! By March or April each year most lenders begin to ask for tax returns for the most recently completed financial year. Up until that point you can provide the tax returns from the year before!
So, for example, if you applied in January 2014 most lenders would require your tax returns for 2011 and 2012 but in March 2014 most lenders would require 2012 and 2013 returns.
One of our lenders will only require you to provide one year’s tax returns (no older than 18 months) which is helpful for people who may have had a bad year the year before or who only recently started their business.
In this circumstance, the lender will also require:
We have special arrangements with some of our lenders that allow borrowers to provide this alternative documentation for 90% loans and, for one lender, loans up to 95% of the property purchase price.
Call us on 1300 889 743 to find out if you are eligible for a low doc loan.
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Australia has many successful commission income salesmen who have trouble applying for a home loan because their bank won't consider their income when assessing serviceability or their ability to make the repayments without hardship.
Banks are cautious of relying on commission income because commission income is not guaranteed and can fluctuate.
Some months, your income can skyrocket, but your turnaround may reduce significantly for seasonal reasons in other months.
Other times, it could simply be because you took a holiday!
Lenders are more comfortable with those who earn a regular monthly salary.
However, some lenders may still allow you to borrow.
Call us on 1300 889 743 or fill in our free assessment form to speak to one of our expert mortgage brokers who can assist you in getting a mortgage.
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There aren’t specific borrowing limitations if you receive Family Tax Benefits. The amount you are eligible to borrow will be determined by your overall income (plus the benefits you receive from Centrelink) and current interest rates.
For banks, it all comes down to the risk of your application and it applies to all types of mortgages, not just Family Tax Benefit home loans.
To get a pretty good idea of how much you can borrow, here’s what you can do:
Call one of our mortgage brokers on 1300 889 743 or complete our free assessment form to find out how much you can borrow with a Family Tax Benefit home loan.
) [1370] => stdClass Object ( [post_id] => 1887 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Depending on whether you are PAYG or self-employed, there will be different requirements.
If you believe that you may not be able to provide this documentation please speak to us on
1300 889 743 or enquire online. Our expert mortgage brokers know lenders that may still allow you to borrow. Contact us today!
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Now that you know the common reasons why refinancing can be denied, let's explore some effective solutions to address them.
1. Keep Your Debt-to-Income Ratio In Check
Lenders want to see that you can afford to repay your new loan. So, they will look at your debt-to-income ratio (DTI).
You can calculate your DTI by totalling all your debts and dividing that figure by your annual salary. You can also use Home Loan Experts’ DTI calculator. Aim to reduce existing debts or find ways to boost your income before applying.
Here are some ways you might do that:
2. Mind Your Credit Score
Your credit score is a measure of your creditworthiness. Lenders use your credit score to assess your risk as a borrower.
While a lower credit score might raise concerns among lenders, there are ways to address this challenge directly. Check your credit report and work on improving it. Check for any errors that are hurting your credit rating and get them fixed. Timely bill payments and reduced credit-card balances can work wonders. You can read our page on credit repair here.
Something to note is the number of credit inquiries you make. Hard inquiries can stay on your credit report for up to five years and hurt your credit score. Use free credit reports offered by Credit Reporting Bureaus. Equifax and Experian offer one free report every three months.
Don't let a low credit score hold you back. Let's work together to improve your credit rating and achieve your goals! Contact us now at 1300 889 743 or complete our free online assessment form to get started.
3. Building Equity Matters
Equity is the difference between your home's value and what you owe on the mortgage. Lenders want to see that you have some equity in your home before they will approve refinancing.
Make sure your equity is adequate, or consider making extra mortgage payments. You could also pump up your home's value through smart renovations like kitchen and bathroom renovations, energy-efficiency upgrades and adding new rooms.
4. A Stable Employment History Helps
Lenders prefer people with steady jobs and consistent incomes. This is because they want to make sure that you will be able to afford the new loan payments.
Frequent job-hopping or employment gaps may make them think twice. Try to maintain a stable work history before making that refinance move.
If you have to change jobs, be sure to have a good reason for the change. This will help lenders understand why you left your previous job.
5. Be On Top Of Your Payment Game
Paying bills on time shows you're a reliable borrower. To improve your chances, ensure you have a strong payment history by paying bills on time and addressing any past delinquencies.
Some things you can do include:
6. Lower The Loan-to-Value Ratio
The loan-to-value ratio compares your loan amount to your home's appraised value.
To improve your chance of refinancing, stay ahead of the game by
7. Don't Rush Into Refinancing After Bankruptcy Or Foreclosure
Lenders will look at your recent financial history to assess your risk as a borrower.
Recovering from financial setbacks takes time, and the impact of bankruptcy can remain on your credit report for up to five years. Give yourself some time to rebuild your financial foundation before attempting to refinance.
8. Get Your Documentation In Order
Lenders will need to see a number of documents before they can approve a refinance. Gather all the necessary documents like income verification, tax returns, and bank statements. If you are missing any of these documents, it can delay or even derail your refinance application.
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If you’re looking to finance an investment loan or secure pre-approval, Home Loan Experts is here to help.
Call us on 1300 889 743 or enquire online to speak to one of our mortgage brokers, who can compare the loans available from several lenders.
We recommend that you seek independent financial advice before borrowing money to invest.
) [1373] => stdClass Object ( [post_id] => 23472 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Every client is different, so it all depends on what you need.
If you have a large deposit and a relatively straightforward application, then we can help to get you the lowest interest rate possible. We know which banks charge the same interest rates for SMSF loans as they do for standard commercial loans.
If you have a complex situation that's difficult to approve, then we'll find a lender that can accept your situation. Lenders accept different property types, income evidence, interest cover ratios, trust structures and maximum loan sizes. Of course, we'll then negotiate to make sure you get a great interest rate as well.
For large loans sizes, we'll negotiate on your behalf to get you the lowest interest rate possible. In most cases, we can get you a much better deal than you can get directly with your business banker.
Call us on 1300 889 743 or fill in our free assessment form and we'll help to get your SMSF loan approved. However, we can't help you if you want construction finance since that isn't possible.
) [1374] => stdClass Object ( [post_id] => 44698 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Depending on the nature of your bad credit, you may be able to refinance to a major lender in as little as six months after your home loan settles.
If you have any form of a bad credit on your Equifax report, you’ll generally need to wait until this is clear before refinancing (5-7 years for most listings).
We work with many specialist lenders and know the complete, inside picture of bad credit hme loans.
We pride ourselves on being able to get your bad credit home loan approved at a competitive interest rate based on your circumstances.
Speak to us on 1300 889 743 or fill in our free online assessment form and discover if you can qualify for a home loan despite a poor credit file.
We will work with you, every step of the way after settlement to plan your move back to a major bank when the time is right.
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At Home Loan Experts, our brokers are available to assist you with your day-to-day needs. Throughout the life of your loan, we're committed to providing exceptional customer service.
With years of experience in the mortgage industry, we're passionate about delivering high-quality service and support to doctors. Please call us on 1300 889 743 or complete our free assessment form.
) [1376] => stdClass Object ( [post_id] => 27216 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Most lenders require self employed borrowers to be in their current role for a minimum of two years. You’ll be seen as a self employed subcontractor if:
In this case, you can provide some invoices and bank statements as evidence of your income.
Lenders may also ask you for two years’ tax returns to prove your income.
Can’t provide two years’ tax returns?
A low doc loan may be more suitable if you can’t provide your tax returns. Please complete our free assessment form or call us on 1300 889 743 to speak with one of our subcontractor home loan specialists before proceeding with this option.
) [1377] => stdClass Object ( [post_id] => 35965 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Turf farm loan applications are typically assessed at the business banker level meaning that you'll deal with the relationship manager that lives in the location you're looking to buy.
These business bankers know the local economy, the demand for turf farms, and they have a good handle on the local climate and weather patterns.
They don't like taking on unnecessary risk and like to see that they're dealing with a farmer that has the skills and capital to stay profitable.
We can help present a strong case to the right business banker!
By negotiating on your behalf, we can put you in a position where:
Please call 1300 889 743 or fill in our free assessment form today.
) [1378] => stdClass Object ( [post_id] => 48079 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Do you have less than 2 years ABN or need assistance to obtain income documents from your accountant?
Please speak to us today on 1300 889 743 or complete our free assessment form today.
) [1379] => stdClass Object ( [post_id] => 23440 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>How can we help?
Speak to us, and we can compare several different options from a range of lenders for you and do it without adding another unnecessary enquiry to your credit file.
Did you know that not all banks give the same weighting to your Equifax Score?
Some will score you more favourably depending on your situation. Some that do not use credit scoring at all!
This may be your only option when trying to get a bad credit home loan.
Call us today on 1300 889 743 or complete our free assessment form to find out how we can help.
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Talk To An Expert!
Make sure you thoroughly research the neighbourhood before buying real estate. As you’ve learned, location is the most important factor! If you’re confused about the property location or home loan requirements, our home loan experts can guide you through.
Please fill in our free assessment form or contact us on 1300 889 743 to speak to a mortgage broker.
) [1381] => stdClass Object ( [post_id] => 48221 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>With some markets around Australia experiencing a ‘correction’ at present, it could be a good idea to keep your current property as an investment and sell it on when the market recovers.
Call us on 1300 889 743 or complete our online enquiry form to discover which option is right for you.
This article originally appeared in Connective eNews and has been reprinted with permission. To know more about Connective, visit the website at www.connective.com.au.
) [1382] => stdClass Object ( [post_id] => 32892 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Our brokers can help you borrow:
Lending policies for SMSFs vary between lenders, particularly in the way they assess your ability to repay the loan.
Please call us on 1300 889 743 or fill in our free assessment form to speak to a mortgage broker who specialises in SMSF loans.
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Whether it’s your first time buying a home, or you’re adding to your property portfolio, discuss your property goals with our mortgage broker.
We can help you achieve your property goals by discussing the right strategy and getting the mortgage that suits your situation. Call us on 1300 889 743 or fill in our free assessment form today.
) [1384] => stdClass Object ( [post_id] => 23608 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not every commercial property is accepted
The banks prefer SMSF loans to have a standard commercial property as security.
It's relatively easy to finance:
It's harder to finance specialised properties such as:
Don't assume we can't help!
Give us a call on 1300 889 743 or fill in our free assessment form and we'll let you know if your property will be accepted.
Are you buying your business premises?
If you're a business owner and you have an SMSF then there may be a tax, capital or investment benefit for you to sell your commercial premises to your SMSF.
It's against the law to sell a residential property to your own SMSF, however, there are no such restrictions with commercial properties.
Some lenders will favour this type of transaction as opposed to the simple purchase of a commercial investment property within your SMSF.
You should seek financial advice from your accountant before you decide to sell your business premises to your SMSF as there are complex Capital Gains Tax (CGT) and SMSF legislation that needs to be considered as well as your own personal financial circumstances.
) [1385] => stdClass Object ( [post_id] => 54318 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
It's really important that if you are struggling now and just paying the minimum that you set a reminder in your diary to increase your repayments a year from now. Extra repayments are essential if you want to cut the cost of your home loan.
By making higher repayments, you reduce the principal on your loan much faster.
Our extra repayments calculator will work out how much you will save.
If you wish to speak to our mortgage brokers, call us on 1300 889 743 or fill in our free assessment form.
) [1386] => stdClass Object ( [post_id] => 7916 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>If you are thinking of fixing your interest rate it is best to do so when market rates are falling and lenders are offering competitive pricing.
Speaking to the right people or taking note of RBA and financial commentary, may assist you in deciding when the ideal time to fix is.
Call us on 1300 889 743 or enquire online today and we can help you fix your interest rate.
) [1387] => stdClass Object ( [post_id] => 43574 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Confused?
Try the IO or P&I calculator to work out the costs of just paying interest only and whether it makes sense for your long term financial goals.
Bear in mind that the calculator only provides dollar figure savings when comparing interest only loans to P&I repayments over a 30-year term.
How you use the savings is the key to making the right decision so speak to your mortgage broker and get financial advice.
Case study of the long-term cost of interest only
Let’s say Jim borrowed $500,000 making standard P&I repayments at an interest rate of 4.78% p.a.
At a Loan to Value Ratio (LVR) of 80% over 25 years, the total cost of interest on the loan would be $357,766.
If Jim were to instead to make IO payments on the same loan amount and LVR, the total cost of interest on the loan would be $440,443 over 25 years.
At the end of the loan term, Jim would pay an extra $82,676 in interest.
Is an interest only loan right for you?
Call us on 1300 889 743 or complete our free assessment form and we can let you know if you qualify for an interest only loan and discuss your long-term plans.
) [1388] => stdClass Object ( [post_id] => 31414 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Let's say your assessable income is now $85,600 and your spouse's net income is $60,000.
If you currently have $300,000 owing on your mortgage on a 4.65% variable rate over 30 years and no existing debt, you could potentially borrow up to $542,452 for a home loan.
Without taking the boarding income into account, you could potentially only borrow up to around $421,245, a difference of around $121,207!
Bear in mind, this doesn't take into account whether you're using the new mortgage to pay out your existing mortgage.
As you can see though, a home loan using child's rent can mean a huge difference for your borrowing power.
Use the 'How Much Can I Borrow Calculator?' to get an idea of how much more you could borrow with a home loan using child's rent.
Alternatively, call us on 1300 889 743 or complete our free assessment form we can let you know if you qualify for this amazing exception to standard mortgage policy!
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If you're thinking about getting into the property market down under, please call us on 1300 889 743 or make a free, no obligation online enquiry.
Our expert mortgage brokers are credit experts who can answer all of your questions and find a home loan that best meets your financial needs and saves you thousands of dollars in the process.
Learn more about non-resident mortgages.
) [1390] => stdClass Object ( [post_id] => 71073 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Lawless notes that with the RBA set to raise the cash rate throughout 2022 and into 2023, he expects falls in housing values as mortgage rates trend higher.With interest rates set to rise, you might want to refinance your home loan to a better deal. Our expert mortgage brokers can help you get the best deal. Give us a call on 1300 889 743 or fill in our online assessment form. ) [1391] => stdClass Object ( [post_id] => 44403 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Call us on 1300 889 743 or complete our online enquiry form to discover if you qualify for an Airbnb income home loan.
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Knowing where properties are sold the fastest or slowest can help you bid the right price for your dream home. However, there are other factors to consider, too. Most importantly, think about your long-term plans and determine if you can afford repayments while shopping for a home. The best location varies depending on your situation and long-term goals.Home Loan Experts' mortgage brokers will guide you to where market conditions like average time to sell best fit your goals. Call us on 1300 889 743 or fill in our free online assessment form today to get in touch with our brokers for their extensive knowledge and expertise.
) [1393] => stdClass Object ( [post_id] => 21120 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Started in 2011, the ABAs are an initiative of leading finance and industry magazine The Adviser and recognise excellence across the mortgage and finance broking industry.
“The Australian Broking Awards highlights what it means to be successful within the industry and recognises those brokers and brokerages that have gone above and beyond over the past year," The Adviser publisher Jim Hall said.
“As the industry continues to evolve, the finalists of the Australian Broking Awards are at the forefront, providing a benchmark for others to strive towards."
In the past month, another five expert brokers have joined the Home Loan Experts team and we have also grown our administration staff from 26 to 33 over the same period.
What this means for you as a client is that as our business continues to grow, our high level of customer service will remain at the forefront of our business acumen.
Get your home loan approved with one of Australia's top brokerages of 2013 and 2014! Call us on 1300 889 743 or fill in our free assessment form today!
) [1394] => stdClass Object ( [post_id] => 24749 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>If you already have bad credit, don’t worry, you may still be able to get a home loan.
The key is to have good reasons and evidence for your debt problems to present to the lender in your application. A specialist mortgage broker can help you do this as well as highlight the positive aspects of your situation.
It should be noted that with lenders slowly moving to Comprehensive Credit Reporting, they're sharing a lot more information about you, such as your repayment history. If your credit file isn't up to scratch, some of these changes will actually help you.
For example, you may have been late with your car finance payments but if you've been making your loan repayments and paying your other bills on time, it shows you made a mistake in the past but, overall, you’re now managing your finances well.
If you want help qualifying for a home loan, call us on 1300 889 743 or enquire online.
We have strong relationships with the major banks and some of Australia’s largest lenders. This means that we can get loans through that would normally be declined.
If we can’t qualify you with a major lender, we can talk to a specialist lender that will take a common sense approach to your situation.
) [1395] => stdClass Object ( [post_id] => 44745 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>TAC is considered as non genuine savings because it isn't funds that you've saved yourself with regular deposits into a savings account.
Because of this, you'll generally need to provide the following when applying for your home loan:
Please provide our mortgage brokers with as many documents as you can, we can then work out the most suitable lender and only provide the documents that add strength to your application.
Enquire online or contact us on 1300 889 743 to speak to one of our experts in TAC compensation home loans.
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The Better Business Awards recognise excellence in the mortgage broking industry and is comprised of 10 individual categories and 6 group categories.
The best customer service category recognises the brokerage that has delivered the best customer service over the 2014 year, with the judging panel focusing specifically on the growth of new, repeat and referred clients.
This is the first year that Home Loan Experts has won a Better Business Award after being nominated in both the best customer service and best independent office categories last year.
The awards were first launched in 2014 by mortgage and finance broker industry magazine The Adviser, in partnership with NAB Broker.
Give us a call on 1300 889 743 or fill in our free assessment form to talk with one of our award winning brokers today!
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Most freelancers are self employed. They work on a contractual basis and aren't often committed to long term employment.
Lenders will need you to provide at least:
Your tax returns will help prove that your income is consistent and ongoing. This is why most lenders require freelancers to have been self employed for at least two to three years.
Complete our free online assessment form or call us on 1300 889 743 and speak with one of our credit specialists. We can help you understand and prepare all the documents you'll need to get approval on a freelancer mortgage.
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Luckily, we're SMSF loan specialists.
Please call us on 1300 889 743 or fill in our free assessment form to discover if you qualify.
Am I eligible for an SMSF loan?
Like a standard SMSF loan, there will be a few areas that lenders will assess carefully, including:
Unlike variable rates, fixed rates are changed by lenders almost weekly. So, it is important to keep yourself updated and shop around for the best deal.
Many major lenders offer discount packages on their fixed-rate loans that can only be negotiated. For this reason, most people use a mortgage broker to help them find the lowest rate on their five-year fixed home loan.
Please call our mortgage brokers on 1300 889 743 or enquire online to find out which interest rate discounts you are eligible for.
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Bank bill loans are perfect for large commercial property investors or medium to large businesses. If you are borrowing $5 million or above then this may be the best type of facility for you.
However, it is possible to get a bank bill loan for loans as small as $2 million.
Which lender is the cheapest? Our commercial brokers can normally get you a better deal than you can get going direct to a major bank. Give us a call on 1300 889 743 or fill in our free assessment form.
) [1401] => stdClass Object ( [post_id] => 32080 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>It's actually a 7-Eleven franchise requirement that the owner is involved in the day-to-day running of the business.
However, you may be able to hire someone to manage additional stores if you intend to be a multi-site operator.
If you need finance to buy multiple sites, we can help you but the person you choose to manage the store will also need to have experience.
Buying a franchise isn't a passive investment and will require you to be hands-on.
If you'd like to investment in a freehold commercial property instead, call us on 1300 889 743 or complete our free assessment form today.
Why speak to us?
Although 7-Eleven is an accredited franchise, it doesn't mean that you'll automatically get approved for 7-Eleven franchise loan.
The bank's appetite for franchise businesses changes on a very infrequent basis: a store that was accredited 6 months ago may not on the list today.
At the very least, the amount you can borrow or the Loan to Value Ratios (LVRs) offered by lenders can change and much of this has to do with the amount of funds they allocate for particular franchises in any given year.
If they reach that target, you won't be able to get a franchise business loan with that bank, however, there may be another lender that can help.
As a specialist mortgage broker, we know lender appetite for 7-Eleven franchises and can help you qualify for a loan with a lender that will offer you the most favourable terms.
So call us on 1300 889 743 or fill in our online enquiry form to speak to a franchise loan specialist today.
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Our mortgage brokers are experts in financing properties with titles that may not tick all of the boxes for every lender.
We can quickly work out if you can get approval and find you the lowest interest rate for your home loan.
If your borrowing power is restricted due to the nature of the property, you may actually be able to borrow 100% of the purchase costs by using a guarantor.
Please call us on 1300 889 743 or enquire online to find out how we can help you.
) [1403] => stdClass Object ( [post_id] => 23534 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Most people are able to remove the guarantee around 3 to 5 years after they initially set up the loan.
If you’re struggling to save up enough for a deposit in a rising property market, now’s the time to be that extra little bit nicer to your mum and dad. A guarantor loan could just be the ticket to an amazing home.
Our mortgage brokers are experts in guarantor loans and we know which lenders can help!
Please call us today on 1300 889 743 or complete our free online assessment form and we can tell you if you qualify for a guarantor home loan.
) [1404] => stdClass Object ( [post_id] => 43779 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>You can flip real estate in two ways:
Do you need an investment loan or a renovation loan?
Call us on 1300 889 743 or complete our free assessment form to speak with one of our experienced mortgage brokers.
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No lenders will accept a loan that is not backed up by some kind of evidence.
You can verify your income with at least one of the following:
All of the above can be used in lieu of payslips but these are only accepted by a few lenders.
If you're unsure about which documents to provide for a no payslips home loan, call us on 1300 889 743 or complete our free assessment form and one of our expert brokers will contact you.
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The total amount that you can borrow usually depends on how much evidence you can provide. Basically, the better the supporting documents that you can provide, the higher the percentage of the property value (LVR) that you can borrow.
If you can provide the required documents as evidence of your income, then you can apply for a 90% home loan or even a 95% home loan in some cases.
Effectively, if you can't provide enough evidence of your income then our banks may limit your loan to 80% of the property value to reduce their risk.
Do you think that you don't have enough documents to support your application? Call us on 1300 889 743 or send us a free online enquiry today and one of our expert brokers will let you know how much you can borrow.
) [1407] => stdClass Object ( [post_id] => 1794 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Please do not hesitate to call us on 1300 889 743 if you have a question about our fee structure or to understand what is a mortgage broker and how we can help you. As you can see for most loans there are no brokerage fees.
) [1408] => stdClass Object ( [post_id] => 31823 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Call us today!
Speak to the Gloria Jean’s franchise loan specialists!
Let one of our mortgage brokers properly assess your situation and business plan and put you in touch with a lender that can help you finance your dream coffee store.
Call us on 1300 889 743 or complete our free assessment form today!
) [1409] => stdClass Object ( [post_id] => 58636 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => There are a lot of lenders to choose from, including non-banks like Bank Australia, to second-tier lenders and major banks. Where do you start? Every day, more and more Australians are turning to a mortgage broker to compare lenders and help them to choose the right home loan product for their situation. Speak with one of our specialist brokers today by calling us on 1300 889 743 or complete our free assessment form and we'll get back to you to discuss your options. ) [1410] => stdClass Object ( [post_id] => 69916 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>You can get up to 100% waived with Macquarie, if your application is strong enough.
A 100% waived LMI home loan is structured as such:
Contact the mortgage brokers at Home Loan Experts to see if you qualify for 100% waived LMI with Macquarie Bank. Call us on 1300 889 743 or enquire online today.
[wbcr_snippet id="74143"] ) [1411] => stdClass Object ( [post_id] => 44901 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => In many cases, the bank may require you to lodge a plan of survey, also known as a plan of delimitation or plan of redefinition, with your state's land and title registry office. Your solicitor can organise this on your behalf:How much does it cost?
There are generally a few costs involved in ordering a plan of survey report, including:How long will it take to survey the land?
You generally need to allow about 4-6 weeks for registration so you should factor this in when negotiating the settlement date with the vendor and your moving schedule.) [1412] => stdClass Object ( [post_id] => 79249 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Home loans with low income are possible! Our mortgage brokers will assist you in
Discover your low-income home loan options now! Call us at 1300 889 743 or complete our free online assessment form, and we’ll get back to you!
) [1413] => stdClass Object ( [post_id] => 36006 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>We're FIFO worker home loan specialists that are experts in the lending policies of nearly 40 Australian lenders.
There are some solutions to these common roadblocks that you'll find when you apply with a bank directly.
It's common for FIFO workers to be on a fixed term contract or move between mines depending on the availability of work.
One of our lenders takes a common sense approach and acknowledges that most FIFO workers can find alternative employment in the event that their contract is not renewed.
Speak to a mortgage broker by calling us on 1300 889 743 or by completing our free assessment form.
) [1414] => stdClass Object ( [post_id] => 61337 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Buying your first home at an auction is a thrilling experience. Still, it’s challenging not to get swept away at the moment and bid above your budget.
Check our comprehensive guide on the auction and property market to maximise your opportunity of securing the property at the right price.
To speak with one of our senior mortgage brokers, give us a call on 1300 889 743 or simply fill in our free online assessment form today.
) [1415] => stdClass Object ( [post_id] => 30753 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>You can borrow against the value of your practice!
A specialist mortgage broker can help you set up a loan facility with a sharp interest rate that works for you.
Call 1300 889 743 or complete our online enquiry form today.
) [1416] => stdClass Object ( [post_id] => 1987 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Capped rate loans are, generally, cheaper than fixed rate loans, as it is possible to benefit from low interest rates while at the same time being protected from interest rate spikes. With a capped rate home loan the variable rate that you pay is usually 0.3% to 0.4% more than the professional package discounts offered by the major lenders.
As with a fixed rate loan, there is usually a rate lock fee or equivalent. This fee is usually 0.15% of the loan amount at the time the loan is advanced to you. For more details on rates and fees which can vary depending on the lenders, please enquire online or call us on 1300 889 743 for up to date information.
) [1417] => stdClass Object ( [post_id] => 23243 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => We're not sure for how long! Luckily, the lenders who don’t offer 90% waived LMI loans to physiotherapists apply discounts depending on your net worth and professional employment status. Specifically:) [1418] => stdClass Object ( [post_id] => 3417 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
We can help you with a secured business loan using either residential property or a commercial property as security. You can borrow:
If you have a home, investment property, commercial property or other real estate that you can use as security then please enquire online or call us on 1300 889 743 to find out how we can help.
) [1419] => stdClass Object ( [post_id] => 2868 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Judgments are worse than defaults because they are court orders.
These are directives to pay a debt of which you have breached the terms, and they stay on your credit file for five years whether or not the default has been paid.
It is still better if you pay out the debt so that the judgment can appear as “paid” on your credit file rather than remaining as “unpaid”.
Please discuss this with one of our mortgage brokers before you pay an outstanding judgment. You can call us at 1300 889 743 or fill in our free assessment form.
) [1420] => stdClass Object ( [post_id] => 70367 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => All of the schemes allow you to buy a property with a deposit of as little as 2% or 5%, without paying Lenders Mortgage Insurance (LMI). Usually, LMI is applicable when you borrow more than 80% of the property value.
As a part-time worker, you may be able to ask your employer for additional hours or convert to full-time employment to help you cope with the additional commitments of buying a home.
Unfortunately, even then, many lenders will require at least a 6-month track record of this new income before approving your application!
One of our lenders can accept your new income as long as you can provide one payslip showing your higher salary and an employment letter confirming your new hours.
If you have recently experienced a pay rise, please call us on 1300 889 743 or enquire online to increase your chances of getting approval for a mortgage.
) [1422] => stdClass Object ( [post_id] => 48572 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
The first thing you want to do is to find out exactly what caused your partner’s bad credit by looking into their credit file.
You can do this by requesting a free annual copy of both your credit report from Equifax or Experian or Dun and Bradstreet.
This will give you an overview of both your credit history and help you identify any potential credit issues. You can also use our credit score calculator to help you work out potential red flags.
Incorrect information on your credit file can be fixed by contacting the credit reporting body, while defaults even if paid will stay on your credit file for up to 5 years.
Alternatively, you can contact our specialist mortgage brokers who can look up your credit file, identify all the credit issues the banks may object on and carry out a full assessment to figure out which lenders will accept your situation.
This way you avoid adding any more credit enquries on your credit file further decreasing your credit score.
Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our online assessment form to find out if you qualify.
) [1423] => stdClass Object ( [post_id] => 71612 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Are you thinking of refinancing your mortgage and need assistance? We have experienced and qualified mortgage brokers who have assisted thousands of customers with refinancing their home loans. Call us right away on 1300 889 743 or enquire online. ) [1424] => stdClass Object ( [post_id] => 41730 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Although this survey found guarantor loans to be unpopular among first home buyers, banks actually see it as the least risky no deposit option. The most common questions we receive revolve around when the guarantor can be removed and whether your parents risk losing their home should you default on your home loan. The latter rarely happens at all. You may even be better suited to the sister to the guarantor loan, the parent assist home loan. The beauty of parent assist is that your Mum and Dad can actually get a return on investment from helping you buy your first home! Check out the guarantor home loan section for a comprehensive guide. Alternatively, give us a call on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers. We're experts at helping first home buyers get into the property market. ) [1425] => stdClass Object ( [post_id] => 32405 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
How much can I borrow?
The stronger the application, the more you can borrow!
Like any business loan, the trick to borrowing the amount you need comes down to choosing the right lender and presenting a strong business case.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our franchise loan specialists.
) [1426] => stdClass Object ( [post_id] => 69697 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => With regional Australia in hot demand, prices could surge too high and price out home buyers. Do not hesitate to buy or invest in property if you’re ready. Don’t quite know if you’re buying in a good location? Use our postcode calculator to find out if lenders are available in areas where you’re looking. Home Loan Experts’ mortgage brokers are here for you. We’ll help you get pre-approved for a mortgage so you can buy the right property. Call us on 1300 889 743 or enquire online today. ) [1427] => stdClass Object ( [post_id] => 33319 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Firstly, different banks have different appetites for working with investors. Some have lent too much money to investors in the past which has caused Australian Prudential Regulation Authority (APRA) to ask them to pull back on their investment lending.
However, let’s assume you’re working with a bank that wants to do business with investors. What will affect their assessment of your income?
Keep in mind all lenders assess your situation in different ways, applying with the right lender is the key to success.
Call us on 1300 889 743 or fill in our free assessment form and we’ll work out which lender will assess your full income.
) [1428] => stdClass Object ( [post_id] => 55653 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Even ING’s research noted that 68% of Australians would require more space to be fully comfortable at home. 38% are looking at the following changes to accommodate their needs like redecorating, renovating or setting up a permanent home office. Our mortgage brokers can help you with your renovation plans. They are experts in home loans to renovate an existing property. Call us on 1300 889 743 or fill in our free assessment form. ) [1429] => stdClass Object ( [post_id] => 9506 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Income earned through Google AdSense is often paid to an Australian bank account. Whilst the money is paid to an Australian bank account, the money is coming from Google in Ireland.
This is classed as a foreign income, often GST free and may or may not be used by the banks when they calculate how much you can borrow.
We can use your Australian bank statements to prove your income, allowing you to borrow up to 80% of the property value. If you can provide two years of Australian tax returns you may be eligible to borrow up to 95% of the property value.
To find out which lender will approve your mortgage, contact us on 1300 889 743 or enquire online and speak to one of our mortgage brokers who will help you get approval.
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Common sense prevails
Michelle and her family have been happily living in their home since January 2016 and they were able to get their children enrolled in school on time.
What Kishore was able to achieve by asking the right questions to his clients, collecting the right evidence and presenting to the key decision makers in the banks is something our mortgage brokers do on a daily basis.
We get tough loans approved and we stand by that motto!
We're often able to get the best results for foreign citizens because we understand credit policy and we have the experience to know when policy can bent by using a lender that uses common sense.
Are you thinking about buying property in Australia?
Discover how relationships with a number of major banks and lenders can help you qualify for a mortgage in Australia.
Call 1300 889 743 or +61 2 9194 1700 (if you're calling from outside of Australia) today. Alternatively, complete our free assessment form to explain your situation in full.
) [1431] => stdClass Object ( [post_id] => 47931 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Approval for vehicle and equipment finance, like other business loans, will be considered on a case by case basis.
A mortgage broker that specialises in asset finance can assess your needs and find a lender that can offer you favourable terms.
However, the following factors will increase your eligibility for business vehicle finance.
Business experience
Small to medium businesses have a high rate of failure, particularly in their first 2 years of operation.
Lenders will consider business owners with at least 3-5 years experience in the same industry more favourably than an applicant who has just started their business.
There are exceptions to this rule depending on your previous industry experience.
For example, if you only recently started an electrical business and you need to purchase a work van, some lenders will still consider your situation if you have a few years experience as a leading hand or team leader.
That's because there is a market need for electricians.
Work references will help strengthen your case. In many ways, it's good to think about applying for vehicle or fleet finance as if you were going for a job interview.
Evidence of profitability
Banks generally want to see your last two years business financials including:
In some cases, business turnover needs to be 1.5 to 2 times the proposed interest expenses on the vehicle finance. This is known as the ‘serviceability ratio’.
However, there are low doc business vehicle finance options available, which can be helpful for businesses with less than 2 years ABN.
Lenders will instead rely on alternative or alt docs like your interim financials for the most recent financial year supported by an accountant's letter.
A 30% deposit deposit is typically required if your business is less than a year old.
Business plan and SWOT analysis
If you're a relatively new business, and depending on how many vehicles or assets you want to purchase, the lender may ask you to provide a detailed business plan.
The business plan should detail the expected return on investment from purchasing the vehicles.
The bank will then run a SWOT analysis, an acronym standing for strengths, weaknesses, opportunities and threats.
We recommend that our clients sit down with their accountant to discuss their business plans to determine the commercial and tax benefits of buying a vehicle.
Will the lender accept your commercial vehicle?
Most lenders will only accept brand new vehicles, although demo or demonstrator vehicles can be considered.
To prove this you will need to provide the lender with a sales contract from the dealer or wholesaler. Don't sign the sales contract until you have received an indicative approval from the lender subject to a valuation.
We can help you qualify for finance for a business car. Simply call us on 1300 889 743 or complete our online assessment form and tell us about the asset you want to purchase.
) [1432] => stdClass Object ( [post_id] => 25803 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>If you need a bridging loan, please call us on 1300 889 743 or complete our free assessment form and we can tell if you qualify.
) [1433] => stdClass Object ( [post_id] => 30595 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
A guarantor is the only loan type that allows you to borrow 100% of the property price even if you haven't saved a deposit.
In a guarantor loan, the lenders use both the property you're buying and the guarantor's property as security for the loan.
The guarantor can also choose to limit the guarantee, which means they can only secure a part of the loan.
The banks assume that the value of the guarantee reduces your loan to under 80% of the property value. This is why the requirement to pay Lenders Mortgage Insurance (LMI) is waived by the lenders.
Our mortgage brokers specialise in guarantor loans. Call one of them on 1300 889 743 or fill in our free online assessment form and find out how you can be a guarantor yourself.
) [1434] => stdClass Object ( [post_id] => 5084 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => If you would like assistance with your home loan then please contact our mortgage brokers on 1300 889 743 or enquire online and one of them will give you a call back to discuss your purchase. ) [1435] => stdClass Object ( [post_id] => 22499 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Apart from injury and the tragic loss of life, the economic costs of bushfires are significant.
In fact, according to estimates from the Australian Institute of Criminology, an average year will see insurable losses of $80-$100 million.
Despite these sobering statistics, the likelihood of your home loan application getting approved comes down to the bank’s valuation.
Valuers themselves may take into account the BAL level of the property when they assess it but what they actually return to the bank in their report is a risk rating on a sliding scale from 1 to 5.
Some of the factors they consider are location, land and environmental issues.
If the property rates either 4 or 5 on this scale, the valuer will provide specific comments in their report that the property falls within a high risk bushfire zone.
If the property is risk rated higher, such as countryside homes or large rural properties, it has a detrimental impact on the saleability of the property.
Lenders themselves don't have location restrictions for bushfire prone property.
That said, most lenders do apply postcode restrictions that relate to the property's proximity for metro and major regional centres.
As with any security being assessed, the bank's risk team will carefully consider their existing exposure to a particular area.
For example, if they've financed 17 bushfire prone properties in a particular location, they’ll be very conservative in their assessment of future home loan applications for that location.
If there isn’t much existing exposure, the lender may be more flexible in accepting the property.
Do I need bushfire insurance?
You’ll be required to take out building insurance no matter what type of property you purchase (other than strata property) but the coverage required will need to be specific to bushfires.
The property will need to meet all relevant safety and preventative requirements in order to get sufficient cover.
If it’s an existing property within a known bushfire affected area, it is likely that it has had at least some kind of damage to it in the past which means it’ll likely have the required preventative features to be covered for insurance.
This includes:
If it’s missing basic measures, such as roof sprinklers or a water tank, we may still be able to get you approved as long as you can provide an assurance that you’ll be making the required changes within a 3-month period.
Please call us on 1300 889 743 or fill in our free assessment form to find out if we can get you approved for a home loan.
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If you are interested in buying or refinancing a property that is a warehouse conversion then please call us on 1300 889 743 or enquire online and we can help you work out how much you can borrow. Our mortgage brokers have financed all sorts of properties that have been converted for residential use and so they can quickly find you a suitable lender with a competitive home loan.
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If you're wondering what all the fuss is about and you're looking to buy a home, call us on 1300 889 743 or complete our free assessment form today.
Discuss your situation with one of our experienced mortgage brokers and discover what home loan options are available. You'll soon understand why we're called Home Loan Experts.
) [1438] => stdClass Object ( [post_id] => 65025 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Still not sure which is the right lender for you? Talk to one of our specialist mortgage brokers at Home Loan Experts .
We’ll generally be able to help find many suitable lender options for you depending on your situation.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1439] => stdClass Object ( [post_id] => 62173 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Are you still not sure about which lender would be the best for you?
Count on our specialist mortgage brokers at Home Loan Experts for help with that.
We make sure we understand your situation and complete a pre-assessment before suggesting the best suitable lenders for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1440] => stdClass Object ( [post_id] => 58701 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Whether you’re looking to buy new or an existing property, you need a reliable home loan pre-approval, so you can confidently put in an offer. Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form to get pre-approved.
) [1441] => stdClass Object ( [post_id] => 55286 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1442] => stdClass Object ( [post_id] => 67847 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>We can help you purchase your first investment property and begin your portfolio journey by matching you with the right lenders for your circumstances. Call us at 1300 889 743 or fill out our free enquiry form for more information.
[wbcr_snippet id="72178"] ) [1443] => stdClass Object ( [post_id] => 3526 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>There are several lenders with specific new immigrant mortgage products, known as "non-residents loans," which allow you to borrow up to 80% of the property value and in some cases even up to 95%.
Our mortgage brokers specialise in helping new immigrants to apply for a home loan to buy a property in Australia.
Please call us on 1300 889 743 or enquire online to find out how we can help.
) [1444] => stdClass Object ( [post_id] => 50980 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>While investing in either a new unit or buying an established property have their benefits, investors are known to prefer established properties to new ones.
By buying an established property, investors benefit from:
However, investing in a new property is not without its benefits:
Apartment Or House - Which Should I Choose?
While apartments are often perceived as a good option for first time investors, due to its lower investment costs, there are hidden costs involved that might reduce the return on your investment.
Apartments usually come with strata title or community title, meaning you'll have to pay body corporate fees.
Another thing to note is that since you’re the landlord, you are responsible for managing and renovating the apartment.
You can hire a property manager for this, who will look into the maintenance of your apartment, and also help you find tenants if the apartment is vacant.
It's best to find a property manager that is from a location you're looking to invest in, and choose one that is not bogged down by too many properties to look after.
However, as the apartments are small, and can only accommodate a few people, it is expensive for one person to afford.
You'll also need to compete for tenants if there are many apartments located in a close radius, meaning the vacancy rates might be too high.
What about investment homes?
Buying an investment home might seem like a good idea, especially if you want more freedom to manage the property and avoid the corporate fees.
However, if you're buying a home in a metropolitan city, due to space limits, the housing developments might be located farther away, and the amenities that tenants are looking for are not close by.
Whether you choose to buy an apartment or a house for your investment, it all comes down to the demand for the property in the location.
The underlying fact is that you should choose either investing in an apartment or house according to the ideal tenant you want to rent to.
What are the costs involved in buying an investment property?
There are various costs associated with buying an investment property.
You can use our property purchase costs calculator to work out an accurate estimate.
How Do I Qualify For An Investment Loan?
Here's how we can help
Selecting where to buy your investment property is a paramount decision, and we can provide you with the tools and information to help make the decision.
Speak to our award-winning mortgage brokers by calling 1300 889 743 or fill in our free online assessment form and we can help you with your investment loan options.
) [1445] => stdClass Object ( [post_id] => 64721 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>The question now for Australia’s property market is how long the lockdowns will continue and what measures the government will take.
"The question is not what impact short lockdowns have on the housing market; there seems to be relatively little impact. Instead, outcomes for the housing market and the industry will depend on how long lockdown conditions last across parts of the country, and whether some of the institutional responses offered through 2020 are reinstated if an extended lockdown occurs," Owen explains.
Affordability constraints remain an issue for first home buyers. Fortunately, there are options available for this cohort, from government grants and schemes to no deposit and low deposit home loan options.
Investors are making a comeback to the market and Home Loan Experts has a panel of lenders that can provide competitive interest rates on investment loans.
Are you buying your first home or expanding your property portfolio? Our mortgage brokers are here to help. Call us on 1300 889 743 or enquire online today.
) [1446] => stdClass Object ( [post_id] => 35026 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>There are certain requirements and restrictions that apply depending on your lender.
As a general rule:
We usually recommend to our clients to only refinance or use loan portability feature when moving houses when you owe less than 80% on your mortgage. That way you have sufficient equity and can avoid LMI.
Please call us on 1300 889 743 or complete our free assessment form to find out if using your loan portability feature is the right option for you.
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What do you actually want?
The best place to start with your negotiations with a lender is to decide on what you actually want. Many borrowers focus on low fees and a competitive interest rate because they don’t know what they can ask for! What you should ask for depends on your needs as a commercial property investor or business owner.How much will they lend?
One of the most important aspects when deciding on a commercial lender is the amount that they will lend you. The amount that you can borrow will be limited either by the LVR of the loan (percentage of the property value) or your serviceability (ability to make repayments). The LVR of your loan is typically determined by the security that you offer. However, different lenders will lend different amounts, so a good mortgage broker can help you to borrow more. Your serviceability is determined by your interest cover ratio. This is effectively how many times you could afford to pay the interest on your debts. For example, if you had an income of $100,000 and interest on your new loan would be $50,000 then you would have a 2x interest cover ratio. Most lenders require a minimum of 1.5x to approve your loan but since each has a different minimum ratio and a different method of calculating your ratio you may find the amount that you can borrow varies between lenders.Annual reviews
Commercial property loans are typically ‘set and forget’ meaning that as long as you make your repayments the bank will leave you alone. However, business loans, large loans and specialised property loans normally have annual reviews. This is so that the bank can monitor the value of their security and your ability to make repayments. From the banks point of view this allows them to work with customers that are experiencing financial difficulties. In reality, it means that they can pull the rug out from under you when you need them most by asking for additional security or for you to pay down the loan. If you can, try to negotiate a loan without annual reviews to protect yourself.Personal guarantees
Does your lender really need a personal guarantee? For some loans it’s unavoidable but for others you can negotiate the loan to be non-recourse so that the lender cannot claim other assets or try to sue you personally.Ongoing funding
What are your future plans? Your ideal lender is one that’s going to be your business partner and grow your business by providing additional funding when you need it. It’s a good idea to discuss your future plans with your mortgage broker so that they can plan out a finance strategy to either build a relationship with one main lender or to split up your facilities between suitable lenders.) [1448] => stdClass Object ( [post_id] => 65707 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Property buyers are embracing technologies like online auctions, virtual tours and online mortgage brokers to get approved for a home loan, even during a lockdown. The best time to buy a house is what makes sense for your situation. If your job and income are stable and you’ve got a handle on your expenses, it might be better to buy now than wait. Home Loan Experts’ mortgage brokers have helped thousands of first-time home buyers and seasoned investors with their property goals. Call us on 1300 889 743 or complete our free assessment form. ) [1449] => stdClass Object ( [post_id] => 77634 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Talk To An Expert
Whether you're a novice or an experienced investor, our team of knowledgeable mortgage brokers is here to provide expert guidance with every step of the way. Some of our brokers have first-hand experience in property investment, so we understand the challenges and rewards of building a successful investment portfolio. Call us on 1300 889 743 or submit a free online enquiry to explore your investment options confidently. ) [1450] => stdClass Object ( [post_id] => 70164 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>The budget is focused on helping home buyers with a small deposit buy their first home in this challenging market. Our mortgage brokers are here to help. Whether you're looking for your first home or expanding your property portfolio, call us on 1300 889 743 or enquire online today.
) [1451] => stdClass Object ( [post_id] => 68746 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Rent-to-own schemes have two components: a standard rental agreement and an agreement to buy (which can be optional). Homeowners who want to buy a house through a rent-to-own scheme sign a contract with a seller that allows them to buy the house after the renting period. Most of these plans will demand a deposit, which many homeowners obtain part of by applying for the First Home Owners Grant or the First Home Loan Deposit Scheme. Participants pay rent (typically higher than the market average) and a monthly charge for the right to buy the property at the end of the contract. Some rent-to-buy contracts also include other costs for the buyer, such as building maintenance, stamp duty and insurance. The amount of money paid for the right to buy – which often goes into the tens of thousands – is then usually subtracted from the final sale price. Sometimes, a buyer can arrange to have a portion of the total rent payments deducted from the sale price as well. Example: Let's say you sign a three-year rent-to-own deal with a $600,000 agreed future price and a deposit of $30,000 from your savings plus $20,000 from a First Home Owners Grant. In this case, the landlord may decide to charge you $450 a week in rent (above the average for the area), plus $100 per week for the option to buy the property at the end of the three-year lease. With a year lasting 52 weeks, this means you'll shell out $85,800 during the first three years, including $70,200 in rent and $15,600 in option payments. $450*52*3 = $70,200 $100*52*3 = $15,600 $70,200+$15,600 = $85,800 If the contract indicates that the option payments go toward equity in the house (which is not a given) but none of the rent, you'll need a $534,400 home loan to buy the house at the end of the three-year lease ($600,000 less the $50,000 deposit and $15,600 equity). $600,000 - ($50,000+$15,600) = $600,000 - ($65,600) = $534,400 Once you reach the end of the lease part of the contract, getting a home loan to buy the property works the same as with any other home loan. Before deciding whether or not to approve your application, the bank will check your eligibility against its lending requirements. If you receive approval, the property's title should be transferred to your name as the legal owner once the settlement is finalised. You will then need to make regular repayments until the loan is paid off. Use our mortgage calculators to get a good sense of what to expect from your bank or lender when you rent to buy. If you want to clear up any doubts, call us on 1300 889 743 and we will connect you to our expert brokers.
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Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free online assessment form.
) [1453] => stdClass Object ( [post_id] => 69288 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Still not sure which is the right lender for you? Talk to one of our specialist mortgage brokers at Home Loan Experts. We’ll first discuss your situation, complete a pre-assessment and find the best lender option for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1454] => stdClass Object ( [post_id] => 32727 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1455] => stdClass Object ( [post_id] => 7982 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>When will the rate lock begin?
This depends on the lender that you apply with. Some lenders will lock the rate:
If you do not choose the right lender you may end up paying a high interest rate! Not all lenders work the same way.
For this reason, you will need the help of an expert mortgage broker who can help you find a lender that will not increase your rate after you apply.
Call us on 1300 889 743 or enquire online today to find out what we can do for you.
) [1456] => stdClass Object ( [post_id] => 32880 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Not sure which ANZ home loan you should choose? Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1457] => stdClass Object ( [post_id] => 35281 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Financially unsustainable
The majority of these business models have gone bust because they aren’t financially viable.
With the cost of compliance and processing margins in our industry, profits are actually quite slim as it is.
Less choice of lenders
Independent mortgage brokers have access to major banks and lenders but they tend to have limited access to second-tier non-banks and customer-owned lenders like credit unions and building societies.
Longer to process your application
Because of the slim profit margins they work on, independent mortgage brokerages tend to take longer to process your application.
They tend to be one or two men teams so they don’t have the extra staff to escalate your application with the bank.
Home Loan Experts operates on a commission-based model so you can reap the benefits of having a team of highly-trained support staff supporting your broker in managing your file.
You’ll get access to almost 40 lenders across Australia and enjoy a smooth home loan application process.
Please call us on 1300 889 743 or complete our free assessment form to find out how we can help you!
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With the government committed to bringing Australia out of the COVID-19 recession, there are incentives available to property investors and home buyers.
The low-interest rate environment and fewer competition from buyers could get you a bargain when you buy your home. Sellers are also willing to negotiate since there are fewer buyers in the market.
Getting pre-approved for a home loan to know how much you can afford should be your first port of call.
Our mortgage brokers are here to help!Call us on 1300 889 743 or fill in our free assessment form, and we’ll help to achieve your property goals.
) [1459] => stdClass Object ( [post_id] => 19858 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Disclaimer: Over the next few days, you’ll receive additional guides to help you on your homebuying journey. Occasionally, you’ll receive carefully curated home-buying tips, offers & schemes, and news articles. You can unsubscribe any time you want. View our Privacy PolicyRefinances
While the exact requirements vary significantly between different banks, you'll typically need to provide evidence of all of your current debts:PAYG applicants
Your broker will require:Self-employed applicants
Your broker will require:) [1460] => stdClass Object ( [post_id] => 33207 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1461] => stdClass Object ( [post_id] => 32913 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Not sure which ANZ commercial loan you should choose? Our Commercial Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free online assessment form.
) [1462] => stdClass Object ( [post_id] => 33341 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Vets tend to earn higher than average incomes, which is the reason why banks are willing to offer deals that are not available to the general public.
To provide this, you can simply provide your most recent tax return or business activity statement (BAS) if you're currently contracting.
Your ability to pay off the commercial loan, or your "serviceability" aside, you'll generally need to show is that you're a qualified veterinarian who is a registered member of the Australian Health Practitioner Regulation Agency (AHPRA).
Do I need experience?
Generally, the bank would like to see you have at least 2-3 years experience in an operation that matches the size and patient capacity of the commercial property you intend to buy.
If you're simply buying an existing practice rather than starting a new practice, you won't need as much business and management experience but, either way, you'll need to provide the lender with a business plan that's been approved by your accountant.
What should be in the business plan?
The business should basically be a summation of your cash flow forecast and what your strategy is for running the business going forward.
It will also include your own SWOT (strengths, weakness, opportunities and threats) analysis of the location including a competitor study and your unique selling point, such as specialising in a certain field of veterinary medicine such as canine, reptile and amphibian, bovine, equine etc.
Insurance may be required
If you're quitting your job to run the practice full time, you may require income protection and life cover although this requirement will vary between lenders.
What can I use for security?
Firstly, you will need to provide a property as security for the purchase of the real estate as well as any business finance you need.
With a residential property, such as your home as security, you can borrow up to 80% of the property value.
The bank will also take a fixed and floating charge over the commercial property or business assets, depending on whether you want to buy the business itself or you want to buy the freehold property as well (freehold going concern).
A director's guarantee will also need to be provided as security.
Why speak to us?
Many of our senior mortgage brokers have a number of years of experience in commercial and business loans.
As credit experts, they:
Discover if you can borrow up to 100% of the commercial property value and 100% of the fit-out and equipment costs for your veterinary clinic.
Call 1300 889 743 to speak with one of our specialist mortgage brokers today.
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Still not sure if a Service One Alliance Bank is right for you? Talk to one of Home Loan Experts’ specialist mortgage brokers.
We'll discuss your situation and perform a pre-assessment to determine the best lenders for you. Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1464] => stdClass Object ( [post_id] => 35236 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1465] => stdClass Object ( [post_id] => 382 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Although you've just started a new job, you believe you're in a strong financial position and you think you'll be able to support a home loan.
One of our lenders only requires a 3-month employment history as long as you have a track record of study or employment in the same field.
Please call us on 1300 889 743 to discuss your situation or complete our free assessment form today!
) [1466] => stdClass Object ( [post_id] => 61336 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Still not sure which is the right lender for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
We’ll first discuss your situation, complete a pre-assessment and find a few suitable lender options for you according to your needs and interests.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1467] => stdClass Object ( [post_id] => 34547 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>They will collect your income evidence and the other documents you need to provide as part of your application and take care of the whole process from application to settlement.
This includes:
Where great performing bank staff work together with mortgage brokers is when you as a borrower get the best of both worlds.
The funny thing is that these staff members tend to be promoted to management roles away from clients or they become incredible mortgage brokers themselves!
Discover the broker difference by calling 1300 889 743 or by completing our online enquiry form today.
) [1468] => stdClass Object ( [post_id] => 67522 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
At Home Loan Experts, we have our finger on the pulse on what’s happening in the property market and the changing lending landscape. Call us on 1300 889 743 or enquire online and our mortgage brokers will help you buy a property.
) [1469] => stdClass Object ( [post_id] => 73580 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our award-winning mortgage brokers by calling us on 1300 889 743 or complete our free online assessment form.
) [1470] => stdClass Object ( [post_id] => 35171 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form today.
) [1471] => stdClass Object ( [post_id] => 33135 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1472] => stdClass Object ( [post_id] => 69317 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Still not sure which lender is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts. We will discuss your situation, complete a pre-assessment and find the best lender for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1473] => stdClass Object ( [post_id] => 33170 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1474] => stdClass Object ( [post_id] => 32713 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free online assessment form.
) [1475] => stdClass Object ( [post_id] => 33178 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1476] => stdClass Object ( [post_id] => 69152 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Still not sure which lender is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts. We will discuss your situation, complete a pre-assessment and suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1477] => stdClass Object ( [post_id] => 70069 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Still unsure about which lender is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
We will first discuss your situation, complete a pre-assessment and find suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1478] => stdClass Object ( [post_id] => 61867 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Finding a lender is difficult; finding the right lender is harder.
If you're having a hard time finding the perfect lender for you, Home Loan Experts is ready to help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free online assessment form.
) [1479] => stdClass Object ( [post_id] => 72169 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our specialist mortgage brokers at Home Loan Experts can help! Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1480] => stdClass Object ( [post_id] => 63704 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Still not sure which is the right lender for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
Alternatively, you can give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1481] => stdClass Object ( [post_id] => 31632 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>A business proposal helps provide direction, keep track of your goals and is required to secure finance. You can start working on it after you’ve researched your business and the market.
Generally, lenders will want a business loan proposal to include:
After you’ve done this and prepared your business loan proposal, you can apply for a business loan. However, applying for the right loan with the right lender is key.
Our mortgage brokers have many years of experience in the business loan sector. We also have relationships with a panel of almost 40 lenders. We can help you prepare a strong business loan proposal and apply with the right lender.
You can speak with our credit specialists by calling us on 1300 889 743. If you want one of our brokers to contact you instead, you can complete our free online assessment form.
What to do before you prepare a business loan proposal
Lenders will likely question a hastily made business loan proposal. This is why you have to conduct proper research and analysis before you prepare it.
Before you start working on your business proposal, make sure you analyse your business and the market. Determine how you’ll use the loan and whether or not it will be profitable.
Seek business advice and support from professionals or through seminars and business events. Lenders will want to lend to confident and knowledgeable borrowers.
You’ll need supporting documents in your proposal so you can start collecting them. This can include cash flow statements, projections, BAS statements and other reports.
You can essentially apply for a business loan after you complete the proposal. So, it may be a good idea to get a security property ready. Lenders prefer property types that aren’t specialised and can be easily sold.
Also, make sure that your credit file is clear and you have an above average credit score. If you have bad credit, you can wait for your credit to clear. You can consider applying for a bad credit business loan if you don’t want to wait.
Tips when preparing a business loan proposal
You can consider the following tips when preparing a business proposal:
After you’ve prepared your business plan, make sure you review it regularly. This way, it can stay up to date and can help keep your business on track. You can also use it the next time you want a business loan.
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What do the banks assess?
Hotels and motels are considered to be a ‘specialised’ commercial property and, as such, the amount you may be eligible to borrow is significantly reduced when compared to other types of commercial properties.
The reason is that hospitality businesses operate within a small market and are faster to be affected by poor management than other commercial enterprises, making them riskier ventures.
In most cases, a borrower must have at least 1.5 to 2 times the amount of income to proposed interest expenses, otherwise known as the ‘serviceability ratio’.
Banks take into consideration experience in the industry although many people who have dived into purchasing a hotel have come from a completely different career.
Your income type, credit history, asset position and experience are all used by the lender when assessing your loan application.
Allow us to properly prepare your application and highlight your strength as a borrower so you can avoid getting declined. Call 1300 889 743 or complete our free assessment form today.
How do banks value hotels?
There are two going concern valuation types:
Valuations are dependent upon who owns the freehold and who runs the business but, generally speaking, banks will take into consideration:
They’ll also consider the asset quality position, financial performance of each of the above aspects and how they impact overall, as well as the industry and business environment and competition in the area.
What security can I use for the loan?
For this reason, there is no one "best" LMI provider. Please enquire online or to contact one of our mortgage brokers on 1300 889 743 and we can help you find a lender with a competitive interest rate and a low LMI premium.
) [1484] => stdClass Object ( [post_id] => 32070 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>You can borrow up to 100% of the market value of the property plus any costs associated with completing the purchase including stamp duty and solicitor's fees.
You won't need a deposit and you can minimise the risk of losing your own residential property in the event of default.
You won't even need to provide that you have any savings!
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for a commercial property guarantor loan.
Will I pay a higher interest rate?
You won't pay a higher interest rate just because the commercial loan is being secured by a guarantor's property.
However, higher rates may apply depending on the loan amount: the bigger the loan, the bigger the discount you may be eligible for.
Bear in mind though that the bigger the loan amount, the larger the guarantee required.
For example, banks usually restrict the Loan to Value Ratio (LVR) of commercial loans up to $1,000,000 to 80% of the property.
Loans up to $5,000,000 typically have LVRs capped at 70%. In this case, your guarantor would need to put up 30-35% of the property value unless you were able to put in some of your own funds.
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One of the factors that determines the monthly DHOAS subsidy amount you receive is the length of your service in the military, which is broken up into three tiers.
The progression from one tier to the next varies depending on whether you are a Permanent or Reserve Member of the ADF.
For more information regarding how much subsidy you’ll receive and how it is calculated, please visit https://www.dhoas.gov.au/
We’re experts in defence force home loans and can provide essential tips on applying for the DHOAS scheme so please fill in our free assessment form or call one of our brokers on 1300 889 743.
DSH Subsidised Home Loan Scheme
The Defence Service Home (DSH) scheme is available for former ADF members who completed their qualifying period of service before 15 May 1985 OR served in Namibia between 18 February 1989 and 10 April 1990.
The DSH Subsidised Home Loan is a monthly subsidy paid in reduced interest rates on your home loan.
The subsidy is available for a maximum loan of $25,000 over 25 years. The interest rate on the loan is based on the average monthly interest rate than less 1.5%.
For more information on DSH Subsidised Home Loan, please visit the DVA website.
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Are you looking for a home loan and want to know why we're continually named one of the best mortgage brokerages in Australia? Call us on 1300 889 743 or complete our free assessment form and discover why we're committed to finding the right home loan solution for you.
You can read the 'Top 10 Independent Brokerages' article and interview with Otto on the MPA website.
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Does The Property Meet Your Needs?
Congratulations, you’ve been pre-approved! Now is the time to start shopping.
There are many things to consider when buying a house, the most important of which is figuring out what your expectations are.
Are you a couple? Do you have children or are you planning to? Is it convenient to get to work? Is there public transport nearby?
Although you’ll want a house to suit your lifestyle, it’s important to be open-minded as well. Consider homes that aren’t exactly what you’re looking for.
There may be a slight renovation involved but ask yourself, is it worth the money you’ll save on the purchase price?
Real estate agents can give you some great tips but the final decision in your hands. That means you’ll need to get out into the real world to get a proper feel for the property and its location.
Researching The Property Market
Firstly, you should know that Australia has one of the most stable property markets in the world.
Websites like CoreLogic (formerly RP Data), Residex and Australian Property Monitors are all reputable sources that provide up-to-date data on property sales nation-wide. Our mortgage brokers have a paid subscription to some of these websites and can provide you with free property reports and other data.
Most real estate sites give you the option to set-up alerts for new properties on the market, not only in your area but houses in surrounding suburbs.
These websites can be very useful:
The trick here is to set the alert criteria to a fairly wide field in order to capture houses that may still suit your needs.
For example, if you want to a buy a property with two garages, search for houses with one or more in the description. The house with one garage may very well be large enough to accommodate another car!
Above all, you need to actually go to open houses and follow these tips:
If you’ve found a house, you can even order a valuation before you submit a loan application. As a top tier specialist mortgage broker, we can order a valuation for free! Call us on 1300 889 743.
Different Types Of Property
There are various types of property, each with their own unique characteristics. As a general rule, properties fall into four umbrellas:
If you own a house or vacant land then you own the entire property. Whereas a unit or townhouse is strata title which means that you own your property and have a share in the common land.
Buying Off The Plan
Buying off the plan is when you commit to buying a property before it has been built. As the name suggests, you can only really see what the house will look like based on building plans.
Developers often invest heavily in marketing so you need to be cautious and avoid paying more than a property is actually worth. Compare the property that you are buying to sales outside of the development to ensure you don’t pay a premium.
While marketers often say that you are buying a property below market value, this is rarely the case except in a stagnant property market.
Since there is a long time between when you sign the contract of sale and when you become the owner, many banks will not issue your loan approval upfront. The value of the property or your personal situation may change before you become the owner so the bank cannot commit to approving a loan for you until close to the settlement date.
If the bank valuation of your property comes in lower than expected or you do not meet the bank’s lending criteria at the time you apply for a loan, then you may be unable to complete the purchase. You may lose your deposit and you could even be sued by the developer.
Some of our lenders can consider approving your loan up to 18 months before settlement which will reduce the risk of you being unable to complete the purchase. Most banks can only assess your loan up to 3 months before settlement.
Please enquire online or call us on 1300 889 743 to speak with one of our brokers.
Because you’re buying off the plan, it is imperative that the contract of sale be checked carefully by your solicitor or conveyancer.
Things to watch out for:
Our off the plan home loan page can provide you with more information.
Construction Loans
If you’re a first home buyer, you may be considering building a home. After all, it is a major milestone in your life so you want it to be unique.
Whether you decide to buy land then build, or purchase a house and land package, you’ll need to apply for a construction loan.
These types of loans can often be complex, with the property valued at each stage of the build and builders paid in instalments as construction progresses.
Luckily, our specialist mortgage brokers are experts in construction loans.
Please enquire online or call 1300 889 743 to find out if you qualify for a loan.
Check out our full list of property types for more information.
Will The Bank Accept My Property?
Although your loan has been pre-approved, that doesn’t mean that the bank will definitely issue you a formal loan approval. The bank must accept the property that you are buying as security for your loan.
Not all properties are accepted by the banks. The most common property types that are rejected are:
Not sure if your property will be accepted? Ask your mortgage broker before you proceed with making an offer.
Making An Offer
Agreeing to a price on a property can be a daunting challenge for some people but the key is to ask yourself some basic questions before you get to the negotiation stage.
Find out why the seller (vendor) is selling the property in the first place. They may be under pressure to sell and, therefore, may be more willing to go lower on price.
If a property has been on the market for around six to ten weeks then it is a good idea to make a low offer. Owners that have had their property on the market for more than six months usually have unrealistic price expectations and so will not accept a low offer.
Compare the selling price with that of comparable properties that have sold in the area in the last six months. Does the asking price match up? You can read our guide on how to value a property for more information.
If possible, don’t make an offer first! Let the vendor make the first move because at least then you know where their expectations lie.
For instance, if a house is advertised for $500,000 but the seller is actually willing to sell for $450,000 you may not be aware of this if you offer $480,000 right away.
Negotiations can be quite difficult because usually you’ll be dealing with the real estate agent and not the vendor directly.
The best strategy is to not appear to be too keen and to hint that you are in negotiations to buy another property. This is the same strategy that agents use on you when they say there is another interested buyer!
Pick out the faults and anything else wrong with the property even if it really is your dream home.
How Long Is The Cooling-off Period?
When you have had your offer accepted and your conveyancer and mortgage broker have given you the go-ahead, you can then sign the contract of sale and pay a holding deposit. You then have a cooling-off period in which you can still back out of the sale. Sales by auction do not have a cooling-off period. In some states, a cooling-off period can also be in the form of a clause that allows you to cancel the contract if you cannot obtain formal approval for your loan. This is normally called a finance clause however it can go by other names.The cooling-off period for property sales varies across Australia but the legal standard for each is as follows:
Bear in mind though that these are the minimum rights and obligations you have as a consumer. Each state usually has its own industry standard.
For example, NSW has a cooling-off period of five days but it’s best to negotiate 10 business days to allow for approval of your loan and/or giving the valuer time to access the property.
The industry standard for WA and QLD is anywhere between 14 and 28 days.
Regardless of a state’s cooling-off period, it is negotiable! You can always ask for a longer cooling-off period and in some states you can also waive this right completely.
Extending The Cooling-off Period
What if the cooling-off period is about to expire and you still don’t have your loan approval? You can simply ask for an extension.
At the end of the day, real estate agents don’t get paid unless the property is sold. If you’re close to having your loan approved, they know they’ll have to give you sufficient time to get your finances in order.
However, if there are a large number of potential buyers then the agent may decide not to extend your cooling-off period. In these cases, vendors may only grant you the minimum cooling-off period or no cooling-off at all depending on state consumer laws.
Please be aware that agents will almost always put you under pressure not to extend the cooling-off period and to commit to the purchase instead. They usually say that there is another interested buyer.
In the majority of these situations this is just hot air. Take your time and never commit to a property until you are certain that you have your loan approved.
Pest, Building And Strata Inspections
You should complete your due diligence on a property during the cooling-off period. For an auction this should be completed the week before the auction.
The main purpose of inspections is to ensure the house you are purchasing is sound. Your conveyancer can normally recommend a good building and pest inspector to check the property for you.
We strongly recommend that you put on some old clothes and go with them to inspect the property. By talking to them about potential problems first hand you can better understand how serious they are and what you need to do to rectify them when you are the owner.
If you are buying a strata title property (a unit or townhouse) then you will also need to arrange a strata inspection. This is where a company investigates the management of the strata corporation including the management of their finances and any future repairs and issues with the property.
Should I Go To An Auction?
Auctions can be a prime opportunity to land a great deal on a property. However they also have a risk to you as the buyer.
The reason for this risk is that there is no cooling-off period. You are required to pay your deposit right away and cannot back out!
We recommend that first home buyers and people with small deposits avoid auctions if possible.
Most properties in Melbourne are sold by auction so often you can't avoid them.
Preparing For An Auction
If you haven’t prepared for the auction then you can’t bid! Organise the below points well in advance to avoid missing out:
How Does An Auction Work?
In most states you are required to register and prove your identity prior to the auction. Talk to the real estate agent and your conveyancer to find out if this is required in your area.
While there are various articles on different bidding strategies, in our experience most of them make little difference. The person who is willing to pay the most wins!
The seller sets a reserve price and if it isn’t reached, the highest bidder usually has the first opportunity to negotiate with the seller.
The winner of the auction will need to sign the contract of sale and pay their deposit immediately.
Contract of Sale
After you and the vendor agree on a price (or you win an auction), then you will need to sign the contract to purchase the property.
This goes by different names in different states, for example:
The contract of sale includes such information as:
The process varies from state to state so check with your conveyancer or solicitor for specific information. Of course it goes without saying, don’t sign the contract until you have the go ahead from both your mortgage broker and conveyancer.
Get Formal Approval First
The contract of sale only becomes binding once it is signed by both the seller and the purchaser. Do not sign the contract until you know that you are approved for finance!
You need formal approval, which means the bank has accepted the property that you are buying as security for their loan and has confirmed that they are willing to advance you the loan funds.
Until you have formal approval you don’t have any guarantees that the bank will give you a loan.
Remember that in most cases it isn’t possible to get your loan formally approved prior to an auction. For this reason auctions always carry an element of risk, if the bank doesn’t accept your property as security then you may lose your deposit.
In most cases the bank will need to send a valuer to inspect your property before they convert your pre-approval into a formal approval. If you have a large deposit and are a very low risk borrower then they may decide that a valuation is not required.
Congratulations! You’re on the home straight now.
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Speak with one of our pharmacy specialists on 1300 889 743 or fill in our free assessment form to find out!
) [1489] => stdClass Object ( [post_id] => 20502 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>The size of the discount that we can get you will depend on if you are a member of the Australian Dental Association (ADA), your salary, rent income and the amount that you are borrowing.
Larger home loans will attract a sharper interest rate.
You can view our interest rates page to see which discounts are available for larger home loan sizes and fixed rate loans.
Larger discounts than those published on our website may be available by negotiation with our lenders.
95% no LMI home loans
Buying your first home can be a challenge.
Most first home buyers have a small deposit and are just starting out in their careers.
Unfortunately, if you don't have a 20% deposit then the banks see you as a higher risk and insure your loan using Lenders Mortgage Insurance (LMI).
It can cost you literally thousands of dollars!
Luckily for dentists, they're seen as low risk borrowers so some of our lenders allow you to borrow 95% of the property with waived LMI.
How do you qualify for a 95% no LMI?
Dental hygienists and other staff that work in a dental clinic are not eligible for waived LMI but they may be eligible for a reduced interest rate.
Talk to our mortgage brokers by calling 1300 889 743 or complete our free assessment form to find out which bank is the best for you.
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Restaurants, cafes, function centres and catering services operate within a small market so lenders tend to assess them differently than large commercial purchases like office buildings and warehouses.
Businesses operating within the hospitality industry operate within a small market and are quicker to be affected by poor management making them riskier ventures. This is especially true if you’re planning on getting a business loan to buy the leasehold.
Commercial lenders will generally require you to have at least 1.5 to 2 times the amount of income to proposed interest expenses. This is known as the ‘serviceability ratio’.
You don’t necessarily need a clean credit history. If you can provide detailed explanations of how you resolved such credit issues as defaults, there are lenders who will consider your case.
Your ability to pay back the loan is key so if you’re quitting your job to run a restaurant, cafe or catering service you’ll need to prove to the banks that you can run a successful venture.
The best way to highlight this is if you can show to them that you have significant experience in an operation equivalent to the business you’re planning to purchase, preferably from a managerial position.
The requirements for this will vary from lender to lender but it helps to submit a resume along with your loan application that shows:
Our brokers are specialists in restaurant loans and we can help you prepare your application to highlight your strengths as a borrower so you have a better chance of getting approved the first time around.
Call 1300 889 743 or complete our free assessment form today.
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One of the problems with a 3% deposit home loan is that although you don't need a big deposit, you still need to have 5% in genuine savings.
What does that mean?
Well, it all comes back to demonstrating character and capacity.
You'll typically need to show this with a 3 months savings history showing regular deposits into a bank account amounting to 5% of the purchase price.
There are other things that can count towards genuine savings such as a term deposit and a rental ledger, however, there are non-genuine savings options out there.
By far, the best no deposit option is a guarantor loan.
You can borrow 100% of the purchase plus costs and you don't need genuine savings. Call us on 1300 889 743 to find out more.
If a guarantor doesn't quite work for you, there are still more options:
) [1492] => stdClass Object ( [post_id] => 68211 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Australia’s housing market is still experiencing growth, but there are clear signs the market is cooling. Housing demand might not be able to keep pace with increased listings, due to tighter lending conditions and worsening affordability. This rapidly evolving market is why you need the help of mortgage experts to help finance your property goals. Before stringent credit policies are enforced and house prices rise too high, get approved for a home loan right now. Call us on 1300 889 743 or enquire online. ) [1493] => stdClass Object ( [post_id] => 31512 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
There are no set guidelines to qualify for this loan type. This is why all applications for bad credit business loans are assessed case by case. Lenders take different factors into consideration before granting loan approval.
Generally, you must meet certain requirements such as:
If you have substantial equity in property, you're more likely to qualify. Note that lenders consider a non-specialised residential or commercial property as an ideal security. E.g. offices, factories, restaurants and retail premises.
Lenders particularly consider the size, age and number of credit issues. You can get approved with smaller defaults in the past year rather than larger ones in recent months. Multiple bad credit records spread out over a few years indicates long term hardship.
Another key point is proving that the issue was in the past. You'll have to justify the bad credit record and prove that it was a one off event.
Lenders also prefer experienced and knowledgeable borrowers. A great business loan proposal can help you significantly.
Our mortgage brokers specialise in bad credit business loans. With many years of experience in the mortgage industry, we know what lenders are looking for in borrowers.
Call us on 1300 889 743 or complete our free online assessment form to speak with one of our mortgage brokers today.
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Still not sure which lender is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
We’re experts in getting home loan discounts for ADF members.
We’ll first discuss your situation, complete a pre-assessment and find a couple of suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1495] => stdClass Object ( [post_id] => 32928 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free online assessment form.
) [1496] => stdClass Object ( [post_id] => 69472 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>If you need assistance determining whether this lender is right for you, our specialist brokers can help. Give us a call on 1300 889 743 or fill out the enquiry form.
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Most of our mortgage brokers have worked for a bank in their credit department. This means that it was their job to make the decision to approve or decline loan applications.
They know how the banks will view your application and what will be a problem!
We will complete the following assessment:
In some cases, we will recommend that you switch banks long before you actually apply for a loan.
This is normally because your current bank cannot consider your loan application so it is better to build a relationship with another bank. As an existing customer with good account conduct, you will have a more favourable credit score.
Please call us on 1300 889 743 or fill in our free assessment form if you would like us to complete an assessment of your situation.
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An interest-in-advance home loan involves locking in the interest rate on an investment loan at a discounted rate for a set period, typically 12 months, and paying the entire year's interest upfront in one payment. With this arrangement, you can claim the entire following year’s interest as a tax deduction in the current tax year.
This setup can result in eligible investors receiving some of the interest back, putting more money in their pockets.
Who is this mortgage suitable for?
Interest in advance home loans are only available to people that have:
Note: You cannot pre-pay interest with a variable rate or a principal and interest loan as the bank cannot calculate your interest in advance.
When should I apply?
This type of mortgage is popular from April to June, with settlement of the loan in June.
By pre-paying the loan in June, borrowers are able to maximize the deductible interest in that financial year.
Don’t delay your loan application! The end of the financial year is a very busy time for mortgage lenders and as a result the banks with the lowest interest rates are often inundated with applications!
We recommend that you apply for your loan at the beginning of May with a settlement in June.
Apply for your mortgage now! Speak to us on 1300 889 743 or enquire online for free.
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After assessing Khanh’s case, Mike knew immediately that the trick was going to be to either build a strong case to get his home loan application over the line or, instead, go with a lender that takes a more common sense approach.
Among his other specialties, Mike is an expert in employment types that don’t quite fit standard bank lending criteria.
“I am convinced that without Mike's help, I wouldn't have had the opportunity to buy my future home,” Khanh said.
Are you in a difficult situation and can’t seem to convince the lenders to hear you out?
Discuss your situation with one of our mortgage brokers by calling 1300 889 743 or by completing our free assessment form today!
If you are living outside of Australia and are having trouble with buying or refinancing, check out our non-resident page for essential information.
) [1500] => stdClass Object ( [post_id] => 45507 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in free enquiry form if you've been knocked back for a home loan because of your living expenses.
) [1501] => stdClass Object ( [post_id] => 26072 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Rebecca and Elton were not only able to refinance to a better home loan, they also removed the judgment from their credit file and are now saving $300-$400 a month thanks to consolidating Rebecca's other debt.
“If it hadn't been for HLE’s initial advice and support then I dare say we would still be stuck with the judgment on my credit profile with no hope of refinance,” Rebecca said.
Do you want to refinance but you're not sure if your credit file will stop you from borrowing?
Speak with one of our expert mortgage brokers by calling 1300 889 743 or by filling in our free assessment form today!
Our specialist mortgage brokers know how to find the right solutions for people with bad credit.
) [1502] => stdClass Object ( [post_id] => 13983 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Our lenders are able to finance island and water access properties throughout Australia. These areas include:
Find out if the property you're after will be accepted by a lender by calling one of our brokers on 1300 889 743 or enquiring online.
) [1503] => stdClass Object ( [post_id] => 20316 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Can a major bank finance my loan?
No, major banks aren't interested in low doc loans or people with a bad credit history. With the two combined they'll just show you the door!
However, our goal is to get your loan refinanced with a major bank in a few years time. Most people can prove their income within a few years and if their credit history has improved and their repayments have been on time then we can usually get a major lender to give you a second chance.
Which lenders can help?
We use specialist lenders or non-conforming lenders that take a common-sense approach to lending.
These lenders don't have branches and rarely market themselves to the general public. When they do, they rarely inform the public of their policies or pricing.
Specialist lenders have different loan features to the major banks, in particular, they almost never offer construction loans, offset accounts or line of credit loans so it is more difficult to get the type of loan that best suits your needs.
It's for these reasons that most people with a bad credit history use a mortgage broker to help them to choose the right lender and negotiate the best interest rate.
Apply for a low doc loan
Do you need a low doc loan from a lender that will accept the defaults on your credit file? Don't have up-to-date tax returns or the paperwork that you need?
Give us a call on 1300 889 743 or enquire online and one of our mortgage brokers will call you to discuss your situation.
[wbcr_snippet id="74103"] ) [1504] => stdClass Object ( [post_id] => 79158 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Consider the following proactive measures to prevent foreclosure or a mortgagee taking possession.
1. Communicate Effectively with Your Lender
Open lines of communication with your lender are paramount when facing financial difficulties. The moment you realise that you may struggle to make mortgage repayments, reach out to your lender. Discuss your situation honestly and transparently. Many lenders in Australia have hardship programs to assist homeowners during challenging times, such as loan modifications, repayment plans, or repayment holidays. Keeping the lines of communication open increases your chances of finding a mutually beneficial solution and avoiding foreclosure.
2. Explore Refinancing Opportunities
Refinancing your mortgage can be a powerful tool in preventing home loss. You can renegotiate your current loan terms to secure a lower interest rate or extend the repayment period, resulting in reduced monthly repayments. This approach can make your mortgage more manageable and provide financial relief. Consider consulting with a mortgage broker specialising in refinancing. They can guide you through the process, help you explore the best options, and negotiate on your behalf.
Contact our expert mortgage brokers specialising in refinancing to explore the best options tailored to you. Call us at 1300 889 743 or complete our free online assessment form.
3. Increase Your Income And Reduce Your Expenses
Supplementing your income and cutting expenses can help you maintain your mortgage payments and avoid foreclosure. Look for opportunities to increase your income through part-time work, freelancing, seeking a raise or starting a side business.
Additionally, take a closer look at your expenses and identify areas where you can make adjustments. Create a realistic budget that prioritises essential expenses and trims unnecessary ones. Every dollar saved contributes to the stability of your mortgage repayments and protects your home from potential loss.
4. Investigate Loan Options
In certain situations, alternative loan options may be available to help you navigate financial difficulties. One such option is an interest-only (IO) loan, where you pay only interest for a specific period, temporarily reducing your monthly financial burden.
Another avenue to explore is government loan programs, such as the Mortgage Relief Loan in Queensland and the ACT, which can be used to resolve any outstanding arrears on your home loan, and grant support in the form of subsidised home loan repayments for up to six months. These programs are designed to support homeowners in times of financial hardship and can provide much-needed breathing space, but you will have to meet the eligibility requirements.
5. Downsize Your home
Consider selling your home and downsizing. Opting to sell your home before reaching the point of default may allow you to pay off the remaining loan balance, steer clear of the risk of repossession and avoid extensive damage to your credit score. By taking this proactive step, you can regain control of your financial situation and prevent the lender from taking possession of your property. Downsizing also presents an opportunity to transition to a more manageable and affordable living situation.
Selling your home and downsizing can be a beneficial strategy, but it's important to consider potential drawbacks:
Consider these factors before making a big decision.
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There are a number of reasons why lenders are very conservative when using an exhibition home as security:
If you are considering buying a display home then please discuss the terms of the lease with your solicitor. In particular discuss the possibility of the builder defaulting on the lease and the options that you would have in this event.
For help with applying for a loan please call us on 1300 889 743 or enquire online and our expert mortgage brokers will get back to you.
) [1506] => stdClass Object ( [post_id] => 30362 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
The factors that influence your borrowing power usually depends on the lender that you apply with. Generally, when assessing your loan application, lenders will take into account:
Lenders will generally ask you to provide certain document to prove your income.
Don’t have acceptable documents to prove your income?
Call us on 1300 889 743 or fill in our free online assessment form.
You may qualify for a low-doc solution instead!
) [1507] => stdClass Object ( [post_id] => 22881 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
It’s a little unnerving to think that the minimum 5% deposit required for a house in Sydney in 10 years’ time will amount to almost $180,000. Keep in mind, that’s on the basis that the costs associated with a home loan including stamp duty and conveyancing remain stable.**
To put that into perspective, you could have bought two houses in Sydney in 1984 for that price, based on historical median house price figures from Dr. Nigel Stapledon’s 2007 research report titled ‘Long Term Housing Prices in Australia and Some Economic Perspectives’.
On top of that, you’ll save more than $30,000 on your deposit if you buy a house in Darwin ($145,715) instead.
For the other capital cities, the minimum deposit required for the predicted median house price in 2024 will be :
Did you know that most banks require you to show proof that you have 5% deposit saved before they’ll approve your loan?
We have three lenders on our panel that will approve loans for up to 90% of the property value (90% LVR) no matter the source of your deposit, and one that will approve a loan for 95% LVR even if you don’t have genuine savings.
Call 1300 889 743 and discover if you qualify.
) [1508] => stdClass Object ( [post_id] => 48816 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Not sure which lender is right for you?
Our mortgage brokers at Home Loan Experts can help!
Give us a call on 1300 889 743 or complete our free assessment form to discuss which other lenders may be suitable for your situation.
) [1509] => stdClass Object ( [post_id] => 22712 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>From the state of the economy, the job market and overseas investment, there is no one root cause for Australia’s booming housing market. What is even less clear is when, if at all, prices will head south.
Although QBE has suggested slowing growth for some Australian regions, most notably Melbourne, Canberra and Perth, Sydney is still predicted to grow by 9 per cent over the next three years.
If you’ve been considering buying a home before increasing property prices lock you out of the market indefinitely, call us today on 1300 889 743 or fill in our free assessment form.
You may be able to borrow more than you think and we can find you a home loan at a competitive price that best suits your needs.
) [1510] => stdClass Object ( [post_id] => 61687 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Still not sure which lender is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
We will first discuss your situation, complete a pre-assessment and find a couple of suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1511] => stdClass Object ( [post_id] => 33219 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>The standard business model used by lenders in Australia is pretty simple to understand. They offer a low interest rate that's unsustainable, lots of people apply and then a year later they put the rate up, grandfather the product and come out with a new loan that only new customers can apply for.
UBank offered term deposit and home loan rates that were almost on top of each other. Clearly if you lend money out at the same price that you borrow it at then it's unsustainable. Now they're on par with the other banks negotiated discounts and the customers that joined them aren't actually better off as they don't even have an offset account.
Watch your interest rate!
If you do have a UBank Home Loan then put a reminder in your calendar to review your rate once a year. If your rate is no longer competitive, then challenge UBank to match other lenders' offer. If they don't then refinance to get a better deal.
Our mortgage brokers monitor the interest rates for our clients home loans, free of charge. If you'd like us to help with your home loan then call us on 1300 889 743 or complete our free assessment form.
) [1512] => stdClass Object ( [post_id] => 7020 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
We can order a valuation up front before you submit a full application to any banks! We can then discuss the valuation and the details of the property with a variety of banks, in order to confirm which lenders will accept it.
Speak to us by calling 1300 889 743 or enquire online and we can help you to finance the purchase of your unique home.
) [1513] => stdClass Object ( [post_id] => 31064 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Not generally.
Lending against the value of a franchise is the same as lending against any other type of business: it's generally seen as a high risk.
Funding to buy multiple Domino's franchises is seen as an even riskier strategy and will likely be declined by the bank if you don't have security (either cash or a residential property) to put towards the finance and working capital to get the franchises off the ground.
Another thing to keep in mind is that banks have an exposure limit to the franchises they will lend money to at any given time.
A lender's appetite for Domino's franchises change on regular basis so it's best you speak to a mortgage broker about your franchise plan.
Call 1300 889 743 or complete our free assessment form today.
) [1514] => stdClass Object ( [post_id] => 22052 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Discretionary trusts allow for nominated beneficiaries in the trust deed, meaning income can be distributed to family and friends.
Although income is distributed at the discretion of the trustee, it is usually to beneficiaries who pay tax at lower marginal rates.
If you are a beneficiary of trust distributions and looking to apply for a home loan, some lenders won’t count these distributions as a source of income when assessing your borrowing power.
In most cases, legitimate beneficiaries are only considered to be a spouse or a child over 18 because it shows that there is a clear benefit from the trust. The lender may ask for:
If you’re a spouse and you have legitimate reasons for receiving a trust distribution, we can use 100% of the distribution in our income assessment.
For children over 18 relying on trust distribution income, lenders will generally take a conservative approach and consider the distributions as a secondary source of income.
For beneficiaries relying on both a full time income and trust distributions in order to apply for a home loan, this is a red flag for most lenders.
Fill in our free assessment form or call 1300 889 743 to speak with one of our specialist mortgage brokers today.
) [1515] => stdClass Object ( [post_id] => 50452 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Generally, lenders require the clients to call them directly or visit the nearest branch and request their repayments to be re-calculated based on the lower interest rate.
If you're a Home Loan Experts' customer, you can give our customer care team a call on 1300 889 743 or email us at customercare@homeloanexperts.com.au to do just that.
) [1516] => stdClass Object ( [post_id] => 1498 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Most mortgage brokers just compare the interest rates of different loans.
Your current bank can only offer its set LMI premiums, interest rates and loan products.
Is there a better way to compare loans?
Home Loan Experts takes a very different, 3-step approach to help you find the cheapest loan:
We're here to give you the information you need to make an informed decision, not to push particular lenders or loans.
If you'd like to know the cheapest LMI premium from our lenders, please enquire online or call us on 1300 889 743.
A Home Loan Experts mortgage broker will provide you with an obligation-free quote.
Once we have provided you with a quote, call us to discuss the available options and let us know which mortgage you'd prefer.
Our experts are aware of LMI approval criteria and pricing of different lenders, so we can provide you with an accurate and competitive assessment.
You can also leverage the power of the 360° Home Loan Assessor, which is a comprehensive tool that helps you assess how much you can borrow by considering your income, expenses and other financial factors.
) [1517] => stdClass Object ( [post_id] => 92707 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
At Home Loan Experts, our brokers are dedicated to guiding you through every step of the home loan process with care and expertise. Whether you're buying your first home, refinancing, or just exploring your options, we’re one team, committed to helping you find the best loan for your situation.
Call us on 1300 889 743 or enquire online for free.
) [1518] => stdClass Object ( [post_id] => 3156 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>What are the LMI premium rates on an 85% LVR home loan?
Here are the LMI rates for different home loan sizes from one of our banks:
If you're borrowing up to $500,000 it's usually better to get a negotiated interest rate!
The cost of LMI is relatively low and an interest rate discount can easily beat the saving in your mortgage insurance premium.
If you're borrowing over $500,000 or can pay off the loan quickly then it's best to apply for a lender with no LMI!
Once you've paid the loan off to 80% of your property's value or your property has grown in value then you can refinance to a low rate home loan.
Please call us on 1300 889 743 or enquire online and we'll work out the best option for you.
) [1519] => stdClass Object ( [post_id] => 93331 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
With the right guidance, you can make a confident, well-informed decision that positions your business for long-term success. If you’re ready to explore your options and find the solution that’s right for you, we’re here to help.
Call us today at 1300 889 743 or fill out our free online assessment form to explore the best options for you.
) [1520] => stdClass Object ( [post_id] => 3780 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>While most bank managers and mortgage brokers have only approved a few guarantor loans in their entire career, we deal with them everyday! We know exactly which lender can help, how to get your loan approved and most importantly, how to set up the loan to maximise the protection for the person who is guaranteeing your loan.
If you'd like to speak to a mortgage broker who can help, please call 1300 889 743 or enquire online and one of our specialist brokers will contact you to discuss your situation.
[wbcr_snippet id="71873"] ) [1521] => stdClass Object ( [post_id] => 67531 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>From November onwards, banks will calculate whether you could afford to repay your home loan if interest rates rose by 3 percentage points above the current rate. For example, if you are applying for a home loan at a 2% interest rate, the bank will calculate whether you can make repayments with a 5% interest rate. If you can't make the repayments, your application will be denied.
The change is most likely to affect investors, who are known to borrow at higher levels of leverage and also have more existing debts than home buyers. First home buyers looking at the cheaper end of the market may also be affected.
Get into the property market before the changes take place. Our mortgage brokers can help you purchase a home using present buffer rates. We also have non-bank lenders on our panel that will approve you with lower interest rate buffers.
Call us on 1300 889 743 or enquire online today.
) [1522] => stdClass Object ( [post_id] => 951 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Many property investors see an accountant, pay $2,000 or $3,000 for a new trust and then start looking for property to invest in. Unfortunately for most, they soon find out that there are few banks that will lend money to a trust! Accountants are rarely expert mortgage brokers and simply do not know the lender guidelines for hybrid trusts used for property investment. In particular, there are few lenders that offer property investor trust low doc loans. Please call us on 1300 889 743 or enquire online to discuss your situation with one of our mortgage brokers, before you setup your trust.) [1523] => stdClass Object ( [post_id] => 31045 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Make an enquiry with Subway
If you're interested in owning a Subway franchise, contact their franchise department and request a Uniform Franchise Offering Circular (UFOC).
This is essentially the franchise kit which covers such information as:
There are restrictions and responsibility such as trademarks and patents so you should read the UFOC carefully and even seek out the advice of your solicitor before signing up to anything.
In particularly, don't lay down any funds unless you know you've been pre-approved for a Subway franchise loan.
Request a franchise kit at subway.com.au.
Ask as many questions as possible including what's included in the purchase and even speak to franchisees about their experience work with Subway.
As part of the process you'll also generally need to have a face to face interview with the area manager for your location.
They will assess your past business and work experience and work out if you're a good fit to run your own store.
Just bear in mind, this has nothing to do with your eligibility to a Subway franchise loan with a bank or lender.
Speak to a mortgage broker who can properly assess your situation and tell you whether you qualify for a franchise loan.
Call 1300 889 743 or complete our ) [1524] => stdClass Object ( [post_id] => 77032 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Home Loan Experts has specialist mortgage brokers who are experts in refinancing. They can offer you the best options based on your individual circumstances. Delaying the decision can result in higher costs if property prices continue to decline. Call us on 1300 889 743 or fill in our free online assessment form today.
) [1525] => stdClass Object ( [post_id] => 26591 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Unlike specialised properties like service stations and restaurants, warehouses are little bit more straightforward when it comes to getting approved because they're considered standard commercial properties.
With longer leases, usually 3, 5 or even 10 years, commercial lenders will generally require you to have at least 1.1 to 1.4 times the amount of income to proposed interest expenses. This is known as the ‘serviceability ratio’.
You don’t necessarily need a clean credit history. If you can provide detailed explanations of how you resolved such credit issues as defaults, there are lenders who will consider your case and approve your warehouse loan.
If you’re simply purchasing the freehold (the property and land itself), then banks will simply want to see that you can afford to pay back the loan which means having a good asset position, stable income and/or a residential property to secure the debt.
For business owners looking to purchase a warehouse as a means of expanding their business, that is, moving your business into the warehouse, the bank will be looking at:
Our brokers are specialists in warehouse loans and we can help you prepare your application to highlight your strengths as a borrower so you have a better chance of getting approved the first time around.
Does the location of the warehouse matter?
Location is important no matter whether you’re buying the property as an investment or using the premises to operate your business.
Banks will be looking at vacancy rates and other aspects of the warehouse market for the area that the premises are located.
Ideally, you’ll want to go for warehouses that are located near central business districts (CBDs) and have easy access to good infrastructure like main highways and motorways, both of which are essential for distribution businesses.
Location has a positive effect not only on the value of the property but the viability of the warehouse to attract tenants.
Ideally, the bank will want you to pay back your loan in full plus interest but if you’re unable to make your loan repayments, they’ll want to know that the property can be sold at a price at which they can get their money back.
Can direct competition stop you from getting a warehouse loan?
This is essential if you’re running a logistics business. If another logistics company is located closer to the retailers or businesses that you want to attract as clients, those businesses are likely to choose that warehouse to do business with because their proximity is beneficial.
Where direct competition can be a real problem is when it comes to retail, specifically, when businesses set up in a warehouse as a means of storage but also as a means of selling stock directly to customers.
Having direct competition can have a detrimental affect on your business but also on your ability to qualify for a warehouse loan.
The bank wants to see that you can stay profitable.
Call 1300 889 743 or complete our free assessment form today and we can help you to highlight the positives of your application.
) [1526] => stdClass Object ( [post_id] => 80589 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Are you buying your first home in Queensland? Our mortgage experts are eager to help you apply for the grants and schemes applicable in Queensland. Call us on 1300 889 743 or enquire online today.
) [1527] => stdClass Object ( [post_id] => 93645 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Whether you're looking to hold or sell your investment property, our expert mortgage brokers are ready to guide you through the process. Call us now at 1300 889 743 or complete our free online enquiry form to get started today! ) [1528] => stdClass Object ( [post_id] => 30618 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in our free assessment form.
One of our specialist mortgage brokers will get back to you to discuss your situation.
How do I get approved?
Firstly, the bank will want to know who you are as a borrower.
You may not need to provide full financial statements for a function centre commercial loan.
In fact, there are no doc and bad credit commercial loan solutions available.
You can learn more about these options on the commercial property loan page, bearing in mind that banks won’t simply approve a high risk loan.
As a general rule, you’ll need around 1.5 to 2 times the amount of income to proposed income expenses. This is known as the Debt Service Coverage Ratio (DSCR) and it’s a requirement for most commercial investments.
If you’re running the reception centre yourself, you generally need 5 years plus experience in a managerial role in a similar industry.
You’ll also need to provide a business plan and forecasting with the help of a qualified accountant.
The bank will run what it calls a SWOT analysis of the business, whether you’re running it or not.
SWOT stands for strengths, opportunities, weaknesses and threats and the analysis allows banks to weigh up the positives and negatives of the business.
You can think of applying for a function centre commercial loan like applying for a job: you’re building a picture of yourself as a sophisticated investor who can pay their mortgage!
Luckily, a specialist mortgage broker can help you do just that by liaising with your accountant to make it happen.
) [1529] => stdClass Object ( [post_id] => 35649 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Banks are very conservative when it comes to purpose-built or specialised commercial real estate.
The reason is that they tend to have a limited market of buyers since the property has limited alternate use.
This makes it really difficult for the bank to quickly sell the property at a reasonable price in the event that you default on your loan.
For example, a building with an in-built swimming pool and spa represents a higher risk than a rec centre with a lot of open areas (play courts) that can be easily altered for different recreational uses.
However, not all banks are as equally risk-averse. Sometimes the risks associated with the property can be mitigated or addressed if you have a strong, long-term tenant in place.
As part of the application, you should provide a copy of the lease agreement that's in place.
If rental payments have been on time for the past 2 years and the lease comes with a couple of 5-year options, you'll have a better chance of getting approved.
We can help!
We're experts in recreation centre loans and we know how to build a strong case so you can get approved the first time around.
Loans for commercial real estate and business finance aren't regulated under the National Consumer Credit Protection Act 2001 (NCCP Act) which means that lending policies can be more flexible than residential loans.
However, without strict lending policies, it means your recreation centre loan application will have to "wow" the credit officer to get over the line.
Your application needs to be presented like a business deal and we can help you do this!
With a specialist broker:
Call us on 1300 889 743 or complete our online enquiry form to find out how we can help you!
Proving your income
You'll typically need to provide the following:
There are low doc options available!
That means some lenders will accept an accountant's letter as an alternate form of income evidence.
This only applies if the recreation centre is considered a standard commercial purchase by a specialist lender.
) [1530] => stdClass Object ( [post_id] => 51449 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
We have lenders on our panel that offer bad credit home loans.
We will work with you to find a lender that best suits your needs, according to your situation.
Call us on 1300 889 743 or fill in our free assessment form.
) [1531] => stdClass Object ( [post_id] => 48691 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>If you’d like to enquire with our award winning mortgage brokers, please give us a call on 1300 889 743 or fill in our online assessment form.
) [1532] => stdClass Object ( [post_id] => 31750 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>A number of our senior mortgage brokers have many years of experience in commercial loans and know exactly what the decision makers in the commercial credit departments want to see in a Hog's Breath franchise loan application.
The last thing you want to do is get declined for a loan!
This can affect your credit score and any ongoing finance requirements you need for your business going forward.
We can help you get approved for a franchise loan that's set up in a way that supports your business needs, including the possibly of discounted interest rates.
Call us on 1300 889 743 or one of our Hog's Breath franchise loan specialists will get in touch with you just by completing our free assessment form.
) [1533] => stdClass Object ( [post_id] => 33671 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
In the end, Stuart was able to move into apartment unit with his family and is currently earning another source of income by renting out his old home as an investment property.
Since the mortgage on his old home is above 80% LVR, refinancing was not cost-effective for Stuart at the time.
However, Mike will be in contact with Stuart in the future once he has paid down the loan or the property has increased in value.
This type of added service is unique to Home Loan Experts and why Mike regularly receives shining testimonials from his happy clients.
Speak with one of our expert mortgage brokers by calling 1300 889 743 or by filling in our free assessment form today!
) [1534] => stdClass Object ( [post_id] => 30323 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Settlement is when you officially become the owner of the property.
Your conveyancer can help you with everything you need to know about it but what about your home loan?
We can help you through to settlement and well beyond it.
After settlement, we’ll call you several times to ensure you understand your home loan.
You’ll get ongoing help where we will review your interest rate and help you switch loan products if needed. We’ll also perform an annual review of your home loan to check if you’ve had any problems.
You can check out the loan application process page to find out what to expect when applying for a home loan and how we can help.
Refinancing A Home Loan
Most people refinance a home loan to get a better interest rate. However, you can also refinance to access equity, renovate your property, switch mortgage packages and to get access to extra features or add-ons.
Even if you're on a variable rate, you can consider refinancing once you hit the 3 or 4 year mark. By shopping around, you can find a better interest rate or a more flexible product.
Since refinancing is basically applying for a new mortgage, you'll need to provide standard home loan documents such as payslips, bank statements and identification.
Your property will be revalued and your new mortgage will be used to pay off the old mortgage.
However, you'll need to consider the upfront and ongoing costs of your existing mortgage before switching. For example, if you're on a fixed rate, you'll have to pay break fees to switch.
Call us on 1300 889 743 or complete our free online application form to find out the current offers and whether or not you should refinance.
) [1535] => stdClass Object ( [post_id] => 35156 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => No, there isn't. However, existing funds in your managed super account can be used as a deposit. You can move these funds to your SMSF so, effectively, you don't need a deposit! There can be huge differences in lending policy and interest rates depending on whether we can get you approved with the lender's residential or commercial banking arm! Read these tips about comparing SMSF loans. Call us on 1300 889 743 or complete our free assessment form and speak to one of our mortgage brokers about borrowing for SMSF.
) [1536] => stdClass Object ( [post_id] => 23648 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Our expert brokers have special relationships with a number of banks so, depending on your financial situation, we may even be able to get you a discounted interested rate that's way below the bank's Standard Variable Rate
Call us today on 1300 889 743 or complete our free assessment form to find out how we can help you get a great deal in a low interest rate environment.
) [1537] => stdClass Object ( [post_id] => 27034 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>As long as you can provide the right income evidence and you meet all other standard lending criteria, IT consultants may be able to:
Speak to a member of our team today on 1300 889 743 or complete our free assessment form and find out how we can help you obtain an IT consultant home loan!
) [1538] => stdClass Object ( [post_id] => 34387 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Talk to one of our expert mortgage brokers to find out if QBE is right for you.
Call us on 1300 889 743 or complete our free assessment form.
) [1539] => stdClass Object ( [post_id] => 43660 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1540] => stdClass Object ( [post_id] => 31725 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>The trick to getting the bank to assess your application is to get approval from the Foreign Investment Review Board (FIRB).
Once you get that, you're in a position to get approved for loan to purchase anything from farmland to vacant land for commercial development.
FIRB approval fees may apply depending on the value of the property you're looking to buy.
Call us today on 1300 889 743 (+61 2 9194 1700 if you're calling from outside of Australia) or +61 2 9194 1700 (if you're calling from outside of Australia). Otherwise, you can complete our free assessment form to discover if you qualify for a non-resident commercial loan.
) [1541] => stdClass Object ( [post_id] => 31667 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Generally, your borrowing power depends on the lender you're applying with, the loan product and how they assess your application.
Typically, with a business loan, you can borrow from $250,000 to anywhere up to $50,000,000. Please note that loans over $5 million are assessed more strictly. A fixed-rate business loan provides you with the security of fixed repayments and protects you from the risk of an interest rate rise.Call us on 1300 889 743 or complete our free online assessment form to speak with our mortgage brokers who are credit specialists. They can help you find the right mortgage that meets your financial needs and a competitive interest rate.
) [1542] => stdClass Object ( [post_id] => 26280 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
With exceptional knowledge of medical centre business loans, our mortgage brokers know exactly how to present a strong case to the right commercial lender so you don’t have to waste your time shopping around.
Choosing the right lender is not only the key to getting approved but, by showing your strength as a borrower, you may be able to borrow up to the maximum of the market value of the practice premises (the freehold) and the business (the leasehold). This is known as the Loan to Value Ratio (LVR).
For start-ups, we’re able to assess the application based on income forecasting and future business plans.
The strong relationships that Home Loan Experts has with the commercial lending arms of major Australian lenders means our brokers can also negotiate for competitive interest rates on your behalf.
Once we know that we can get you approved, we can provide you with a few loan options to choose from and help you set up a loan that best fits your needs.
Take a look at the commercial loan features page to get a better idea of what features may work for you.
Discover more about how the commercial loan process works and the other types of commercial properties we can help you finance. Alternatively, call us on 1300 889 743.
) [1543] => stdClass Object ( [post_id] => 24217 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Home loan approved on Christmas Eve
T’was the day before Christmas, with no house of their own
That James and Julie awaited news of their home loan
With broking expertise and a smile on his face,
Grant got their application approved and James and Julie are enjoying their new place.
Julie and James scooped up the property in the nick of time (no pun intended) and were able to enjoy the Christmas break in their very own home!
If they had tried to get their loan approved with another lender, it would not only have been difficult for them to find a lender that would accept James’ employment situation, but they would have also added unnecessary enquiries to their credit file, further diminishing their chances of getting approved for a loan.
Other brokers wouldn't have been able to get the deal over the line in the timeframe required. Most lenders also wouldn’t have worked hard enough or fast enough to get Julie and James’ loan unconditionally approved.
Grant and the other senior mortgage brokers at Home Loan Experts have the experience and the relationships with the decision makers at the major banks and Australia’s top lenders to work wonders.
Are you ready to start looking for a property and need a pre-approval?
Get in touch with one of our brokers by calling 1300 889 743 or by filling in our free assessment form today!
) [1544] => stdClass Object ( [post_id] => 1620 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>A second job serves as an additional form of income, on top of regular hours of work.
You may be working in a full-time or part-time job, but need extra funds to cover all your expenses.
Why do people get a second job?
With the price of living escalating, many people are getting a second job to cover household expenses. Often the income derived from one job is insufficient to do so.
The second job maybe in the same industry or may be alternative work in another sector.
Alternatively, some people may want to learn new skills, try out a new career or work in a new field.
A second job can provide individuals with the opportunity to fulfil life-long goals or a job that could potentially turn into a full-time career.
Some people take up a second job to pay for their lifestyle, finance trips overseas or large purchases or pay off existing or future debt.
Working a second job? To ensure that 100% of this income is included in a serviceability assessment, please call us on 1300 889 743 or enquire online today!
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For most loans, you would need a deposit that covers 5% of the purchase price. That's not including LMI, conveyancing fees, stamp duty and other government fees associated with a mortgage. With property prices on the rise, it's harder than ever for first home buyers to take their first step into the property market. A no deposit home loan is a great opportunity to get into the property market sooner, rather than waiting to save for a deposit as you see prices go up. We're a specialist mortgage broker that understands the lending policies of over 50 lenders so we can match you with the right loan for your needs. If you would like to speak with a no deposit home loan expert, please call us on 1300 889 743 or complete our free assessment form today.
) [1546] => stdClass Object ( [post_id] => 351 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>We can help you borrow up to 95% of the property value as long as you meet all other standard bank criteria including having a clear credit history.
If you're borrowing over 90% of the property value, the lender may ask more questions or ask for additional supporting documents before issuing your approval.
If you believe that you may be unable to provide certain documents, call us on 1300 889 743 or fill in our free assessment form and our expert mortgage brokers will assist you in applying for a loan.
How can we help?
Our mortgage brokers are credit experts who understand that employees on probation won't be perceived favourably by some lenders.
We work closely with lenders that can consider your mortgage application even if you have been in your job for just one day!
Call us on 1300 889 743 or complete our free assessment form for an assessment of your situation!
Apply for a home loan during probation period!
We only recommend that you apply for a home or investment loan while on probation if you believe that your employment is stable.
If you believe that your employer may terminate your employment during your trial period, then obviously it isn't in your best interest to risk applying for a home loan.
Please complete our free assessment form or call us on 1300 889 743 to discuss your application.
) [1547] => stdClass Object ( [post_id] => 61627 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Millennials in Australia have a great chance of buying their first home soon. If you're looking to start your home buying journey, our mortgage brokers are here to help. Call us on 1300 889 743 or fill in our free no-obligation assessment form. ) [1548] => stdClass Object ( [post_id] => 4535 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Please call us on 1300 889 743 or enquire online and one of our brokers who specialises in low doc lending can help you with a more detailed assessment. Alternatively you can even read more on the low doc home loans section of our website.
) [1549] => stdClass Object ( [post_id] => 65763 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Before you fall into financial hardship due to lockdown in 2021, you can get an equity release to help you manage your debts. How much equity you can release from your home depends on the lender. Your mortgage needs to be at least six months old, and your loan balance ideally less than 80% of the value of your property. With these requirements in place, you can release up to $10,000 in equity without providing evidence for the purpose of the release. To get more, you need to be buying another property, renovating, investing in shares, making luxury purchases such as a car or consolidating your debt. Please be aware that if your total home loan is above 80% of the property value, you have to pay a one-off fee called Lenders Mortgage Insurance (LMI). This fee can be added on top of your mortgage. To find out how much in funding you can obtain from releasing your equity, give us a call on 1300 889 743 or fill in this free assessment form.
) [1550] => stdClass Object ( [post_id] => 13816 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => The banks will assess your:) [1551] => stdClass Object ( [post_id] => 348 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
We can also help in a variety of other situations and with a variety of other income types.
Please give us a call on 1300 889 743 or complete our free assessment form for more information.
) [1552] => stdClass Object ( [post_id] => 236 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>The cash out policy that many lenders apply to low doc investment loans is one of the main reasons that loans get declined.
A cash out policy is a lenders limit to the amount of the loan funds that can be given directly to the borrower.
From the lenders point of view, the problem is that the funds may be misused. Of course this can cause a problem if you are investing in shares! Most lenders will now want to have control of the cashed out funds to ensure that you use the cash out for the purpose you stated.
Luckily some lenders do not have a cash out policy, allowing you to turn your bricks and mortar equity into investment gold! Call us on 1300 889 743 or enquire online to find out which lenders can help.
) [1553] => stdClass Object ( [post_id] => 4421 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
If you aren’t sure, don’t worry. Our mortgage brokers are experts in genuine savings and can quickly assess your situation. You can read more about how to download your savings statements, send them to us and then we can complete a full assessment for you.
Our expert mortgage brokers understand the genuine savings policies the banks use. Please enquire for free online or give us a call on 1300 889 743 to speak to one of our brokers today!
) [1554] => stdClass Object ( [post_id] => 54939 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>$6,000, $4,000 and $3,000 cashback for purchases
One of our major lenders is currently offering a:
The purchase cashback offer is valid on applications submitted by 31 October 2021 and settled by 31 January 2022.
To qualify:
The offer may be withdrawn at any time without notice. So, please call us on 1300 889 743 or fill in our online assessment form to find out if you qualify.
$4,000 cashback for purchases
The purchase cashback is valid on application submitted by 30 November 2022 and settled by 31 January 2023.
$3,000 cashback for purchases
The purchase cashback is valid on application submitted by 30 November 2022 and settled by 31 January 2023.
The offer may be withdrawn at any time without notice. So, please call us on 1300 889 743 or fill in our online assessment form to find out if you qualify.
$2,000 cashback on purchases
One of our lenders is offering a $2,000 cashback on purchases with a minimum loan size of $500,000 for applications received by 30 September 2022 and settled by 31 December 2022. The offer is not available for bridging, construction and business loans.
Offer may be varied or withdrawn at any time. So, please call us on 1300 889 743 or fill in our online assessment form to find out if you qualify.
$1,000 cashback on purchases
One of our lenders is offering a $1,000 cashback on purchases with minimum loan size of $250,000 for applications received by 28 February 2022 and settled by 30 April 2022.
To be eligible for the cashback:
Offer may be varied or withdrawn at any time. So, please call us on 1300 889 743 or fill in our online assessment form to find out if you qualify.
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It’s worth pointing out that having a bigger deposit (low LVR home loan) will give you the best deal on your home loan. But waiting to save up that extra cash may not always be feasible.
In most cases, you'll find that it makes more sense to buy now rather than to save a larger deposit. It is because the cost of LMI is typically much less than the growth rate of a property.
However, if your local area isn't increasing in value, there's no harm in waiting. You can delay your purchase until you are sure about your financial position. Just make sure you have a savings plan and stick to it!
If the market is falling, then, of course, don't buy!
Waiting will obviously leave you in a better position but try not to listen to the media. Instead, you can determine the market direction by looking at reliable sources such as RP Data, Residex and Australian Property Monitors (APM).
Our mortgage brokers have a paid subscription to APM, and if you're one of our clients, we can provide you with free property reports and data. Please call us on 1300 889 743 or enquire online to find out more.
) [1556] => stdClass Object ( [post_id] => 202 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => What is the catch? Many lenders give you a cheaper rate in the first year as a carrot to get you to go with their bank. Of course, you need to consider the ongoing interest rate, not just the rate during the intro period, otherwise, you could get caught out. Some lenders will revert your rate to the Bank Standard Variable Rate (BSV Rate) and then refuse to give you a discount. This is the major problem with introductory rates, don’t get caught out—ask your lender about discounts after the introductory rate has expired! Call us on 1300 889 743 or enquire online, and one of our mortgage brokers will help you choose a lender that won't leave you high and dry. ) [1557] => stdClass Object ( [post_id] => 78089 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Looking to secure the best possible interest rate for your next home purchase or to refinance? Don't miss out on the opportunity to lock in a great rate with the help of our mortgage brokers. Our team of experts has the knowledge and experience necessary to help you find the perfect mortgage solution that fits your unique financial needs.
Call us on 1300 889 743 or compur free online assessment form today to speak to a broker.
Our mortgage brokers are experts in low doc mortgages and can quickly work out which lenders you may qualify with. They can then give you a range of loan products to choose from.
Please call us on 1300 889 743 or enquire online if you would like to get in touch with a mortgage broker.
) [1559] => stdClass Object ( [post_id] => 924 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>The amount that you can borrow depends on the type of temporary visa that you hold:
Did you know that the services of a mortgage broker in Australia are usually free?
Please call us on 1300 889 743 or complete our free assessment form to have an obligation-free discussion with one of our mortgage brokers who specialize in lending to temporary residents living in Australia.
) [1560] => stdClass Object ( [post_id] => 79885 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Are you a first-home buyer in New South Wales eager to benefit from the expanded First Home Buyers Assistance Scheme? We care about securing the best deals and making your home loan journey effortless. Contact us today at 1300 889 743 or fill in our free online assessment form, and let's make your home loan process smooth and stress-free.
) [1561] => stdClass Object ( [post_id] => 71764 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Home Loan Experts CEO Alan Hemmings noted that understanding how your interest rate compares is important. A difference of just 15 basis points in interest rates could mean $60 a month in home loan repayments.
He further remarked, “Properties are staying on the market longer because buyers are worried about where interest rates may finish and do not want to overextend themselves. If this trend continues, it may be an opportunity for buyers, whether first-home buyers, upgraders or investors, to find a suitable property."
While it's difficult to pinpoint how much interest rates will rise in the coming months, it is important to lessen your financial burden when it does.
We've outlined some tips to prepare for a rate rise. We can guide you through the right steps to prepare you for an interest-rate rise, whether through refinancing or simply managing your home loan more effectively.
Our mortgage brokers know how to get you the best deal as interest rates rise. We can help you refinance to keep your home loan’s interest rate competitive. Call 1300 889 743 or enquire online to speak to one of our expert brokers today!
) [1562] => stdClass Object ( [post_id] => 1827 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Small Developments
One of our lenders specialises in helping developers complete small projects, ideal for builders who are making the first step from building to developing but who may not yet have the track record of successful projects to easily get approval.Low Doc Owner Builder Loans
Licensed builders completing a small development of their own We can help you finance a project of up to four dwellings, with a maximum loan amount of $1,500,000. You won't need to provide any evidence of your income. You can borrow up to the lesser of 70% of the Gross Realisation Value (GRV) or 80% of the hard costs (value of land plus cost of construction only). Do I need to be a licensed builder to get a low doc loan? We can't assist you with construction finance if you need a low doc owner builder loan unless you are a builder. However, we can arrange a low doc loan for up to 80% of the land value (not the on completion value) as well as 80% of the value of any other properties that you own. Once your property is complete, we can then increase your low doc loan to 80% of the value of your property. For more information or to speak to one of our expert mortgage brokers, please complete our free assessment form or call 1300 889 743 and we can helpPartially Complete Homes
Have you run out of money half way through your owner builder project? Has your bank refused to lend you additional funds to complete your home? Unfortunately, almost every lender in Australia won't accept a partially built home as security for a mortgage. You must apply for the loan either before you start construction or when the construction is completed. However, if you need additional funds during construction we can help you in the following situations:Using A Guarantor With A Construction Loan
If you have a friend or family member that can guarantee your loan then you may be able to borrow more than 80% of the project cost and up to a maximum of 100% on a case by case basis. For more information, please refer to our no deposit guarantor loan page. Standard guarantor loans aren't available so you'll need to apply for an 80/20 guarantor loan. This is where the guarantor takes out a mortgage on their property and then lends this to you to make up the difference between your 80% mortgage secured by your property and the amount that you require to complete the project. For more information on how a guarantor can help you get a construction loan, please call us on 1300 889 743 or fill in our free assessment form. We can make the application process less stressful for you!) [1563] => stdClass Object ( [post_id] => 3694 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
The main problem banks have with financing a hobby farm is to do with the improvements that typically need to be undertaken and what the farm is used for. Please read below for more information.
Please call us on 1300 889 743 or enquire online, and one of our mortgage brokers will let you know which lenders will accept your hobby farm.
) [1564] => stdClass Object ( [post_id] => 54605 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Here’s how we can recommend the best home loan based on your situation.
We’ll first conduct a Preliminary Credit Assessment wherein; we look at your financial situation; and your objectives and product requirements for seeking credit.
Finally, based on our discussions and the lenders you qualify with, we’ll make our recommendations that best match your needs and requirements. Please be aware that it is not always possible to recommend a product that satisfies all of your objectives; the product selected will be the closest match to your requirements.
As a mortgage broker, we act in your best interests when recommending a home loan, whereas a lender has no legal obligation to do so.
Please enquire with us today by calling us on 1300 889 743 or by filling out our free online assessment form to speak with one of our specialist mortgage brokers.
) [1565] => stdClass Object ( [post_id] => 367 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>If you're a casual worker, it may be difficult for you to obtain a mortgage based on your current employment situation.
To the banks, a casual employee is someone with a fluctuating income. If your income fluctuates, how can the bank be sure that you'll make your next mortgage repayment?
Lenders also tend to think that if your employer was to lay off staff, that as a casual employee, you'd be the first to go!
Of course, that isn't always the case. This is just how a credit assessor sees it. It's our job to make them see the truth, not the guidelines, and get your loan approved.
We work with lenders who understand that many Australians are now casually employed. Consequently we're often able to get your loan approved when other brokers and lenders have failed.
Fill in our free assessment form or call us on 1300 889 743 to speak with a specialist mortgage broker.
) [1566] => stdClass Object ( [post_id] => 4537 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Please note that there are some hidden catches in bank policies that are not taken into account by this calculator. For example, Australian banks will not lend to residents of some specific countries due to potential tax issues.
The banks also assess different types of temporary residents (457 visa / 820 visa etc) in different ways or people who are applying as a couple with someone who is an Australian citizen.
) [1567] => stdClass Object ( [post_id] => 98030 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>As long as you can provide the right income evidence and you meet all other standard lending criteria, IT consultants may be able to:
Speak to a member of our team today on 1300 889 743 or complete our free assessment form and find out how we can help you obtain an IT consultant home loan!
) [1568] => stdClass Object ( [post_id] => 98055 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Getting a home loan to pay out a divorce settlement, property settlement or separation agreement is assessed by the banks as both a purchase and a refinance. For this reason, lenders will assess your loan application in a different manner, applying different lending criteria:) [1569] => stdClass Object ( [post_id] => 98093 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => You can use these tips to prove to the lender that you are not a risky borrower:
If you want to negotiate a lower repayment with your current lender and do not want to refinance, we can help you through the process. Sometimes, your lender might refuse to reach an agreement. In that case, we can explore viable refinancing options. Call us on 1300 889 743 or enquire online today.
) [1570] => stdClass Object ( [post_id] => 98101 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>With the right real-estate agent and mortgage broker by your side, buying a home online is not just a dream. Speak to our mortgage brokers, who can help you get approval for the most suitable loan from our diverse panel of lenders, all in a specialised online process.
Call us at 1300 889 743 or fill out this free enquiry form to get started!
) [1571] => stdClass Object ( [post_id] => 98106 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>Rent-to-own schemes have two components: a standard rental agreement and an agreement to buy (which can be optional). Homeowners who want to buy a house through a rent-to-own scheme sign a contract with a seller that allows them to buy the house after the renting period. Most of these plans will demand a deposit, which many homeowners obtain part of by applying for the First Home Owners Grant or the First Home Loan Deposit Scheme. Participants pay rent (typically higher than the market average) and a monthly charge for the right to buy the property at the end of the contract. Some rent-to-buy contracts also include other costs for the buyer, such as building maintenance, stamp duty and insurance. The amount of money paid for the right to buy – which often goes into the tens of thousands – is then usually subtracted from the final sale price. Sometimes, a buyer can arrange to have a portion of the total rent payments deducted from the sale price as well. Example: Let's say you sign a three-year rent-to-own deal with a $600,000 agreed future price and a deposit of $30,000 from your savings plus $20,000 from a First Home Owners Grant. In this case, the landlord may decide to charge you $450 a week in rent (above the average for the area), plus $100 per week for the option to buy the property at the end of the three-year lease. With a year lasting 52 weeks, this means you'll shell out $85,800 during the first three years, including $70,200 in rent and $15,600 in option payments. $450*52*3 = $70,200 $100*52*3 = $15,600 $70,200+$15,600 = $85,800 If the contract indicates that the option payments go toward equity in the house (which is not a given) but none of the rent, you'll need a $534,400 home loan to buy the house at the end of the three-year lease ($600,000 less the $50,000 deposit and $15,600 equity). $600,000 - ($50,000+$15,600) = $600,000 - ($65,600) = $534,400 Once you reach the end of the lease part of the contract, getting a home loan to buy the property works the same as with any other home loan. Before deciding whether or not to approve your application, the bank will check your eligibility against its lending requirements. If you receive approval, the property's title should be transferred to your name as the legal owner once the settlement is finalised. You will then need to make regular repayments until the loan is paid off. Use our mortgage calculators to get a good sense of what to expect from your bank or lender when you rent to buy. If you want to clear up any doubts, call us on 1300 889 743 and we will connect you to our expert brokers.
) [1572] => stdClass Object ( [post_id] => 98116 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Talk To An Expert!
Make sure you thoroughly research the neighbourhood before buying real estate. As you’ve learned, location is the most important factor! If you’re confused about the property location or home loan requirements, our home loan experts can guide you through.
Please fill in our free assessment form or contact us on 1300 889 743 to speak to a mortgage broker.
) [1573] => stdClass Object ( [post_id] => 98141 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>There is no hard-and-fast rule.
Some argue that continuing to make extra repayments at the 10-year mark is not as effective as it would have been previously.
Should you wait 10 years to invest?
Not necessarily and you have to consider time in the market as opposed to timing the market.
Paying an extra $200 into your mortgage can save you almost $160,000 in interest and shave more than 8 years off a $500,000 mortgage (5.50% p.a.).
Sounds great but wait!
You could instead borrow $400,000 to purchase a $500,000 investment property and find that in 5 years, the price increases to $800,000.
If you were to sell the property making minimum repayments on the investment loan, your return on investment may be upwards of $460,000.
Try the mortgage calculator and the extra repayment calculator and then call us on 1300 889 743 to find out if you're in a position to use equity in your home to buy an investment property.
) [1574] => stdClass Object ( [post_id] => 98149 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] => Call 1300 889 743 or fill in our free assessment form today to speak with one of our mortgage specialists.) [1575] => stdClass Object ( [post_id] => 98164 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
There are certain requirements and restrictions that apply depending on your lender.
As a general rule:
We usually recommend to our clients to only refinance or use loan portability feature when moving houses when you owe less than 80% on your mortgage. That way you have sufficient equity and can avoid LMI.
Please call us on 1300 889 743 or complete our free assessment form to find out if using your loan portability feature is the right option for you.
) [1576] => stdClass Object ( [post_id] => 98179 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Settlement is when you officially become the owner of the property.
Your conveyancer can help you with everything you need to know about it but what about your home loan?
We can help you through to settlement and well beyond it.
After settlement, we’ll call you several times to ensure you understand your home loan.
You’ll get ongoing help where we will review your interest rate and help you switch loan products if needed. We’ll also perform an annual review of your home loan to check if you’ve had any problems.
You can check out the loan application process page to find out what to expect when applying for a home loan and how we can help.
Refinancing A Home Loan
Most people refinance a home loan to get a better interest rate. However, you can also refinance to access equity, renovate your property, switch mortgage packages and to get access to extra features or add-ons.
Even if you're on a variable rate, you can consider refinancing once you hit the 3 or 4 year mark. By shopping around, you can find a better interest rate or a more flexible product.
Since refinancing is basically applying for a new mortgage, you'll need to provide standard home loan documents such as payslips, bank statements and identification.
Your property will be revalued and your new mortgage will be used to pay off the old mortgage.
However, you'll need to consider the upfront and ongoing costs of your existing mortgage before switching. For example, if you're on a fixed rate, you'll have to pay break fees to switch.
Call us on 1300 889 743 or complete our free online application form to find out the current offers and whether or not you should refinance.
) [1577] => stdClass Object ( [post_id] => 98184 [meta_key] => add_site_layouts_3_post_editor_option [meta_value] =>
Does The Property Meet Your Needs?
Congratulations, you’ve been pre-approved! Now is the time to start shopping.
There are many things to consider when buying a house, the most important of which is figuring out what your expectations are.
Are you a couple? Do you have children or are you planning to? Is it convenient to get to work? Is there public transport nearby?
Although you’ll want a house to suit your lifestyle, it’s important to be open-minded as well. Consider homes that aren’t exactly what you’re looking for.
There may be a slight renovation involved but ask yourself, is it worth the money you’ll save on the purchase price?
Real estate agents can give you some great tips but the final decision in your hands. That means you’ll need to get out into the real world to get a proper feel for the property and its location.
Researching The Property Market
Firstly, you should know that Australia has one of the most stable property markets in the world.
Websites like CoreLogic (formerly RP Data), Residex and Australian Property Monitors are all reputable sources that provide up-to-date data on property sales nation-wide. Our mortgage brokers have a paid subscription to some of these websites and can provide you with free property reports and other data.
Most real estate sites give you the option to set-up alerts for new properties on the market, not only in your area but houses in surrounding suburbs.
These websites can be very useful:
The trick here is to set the alert criteria to a fairly wide field in order to capture houses that may still suit your needs.
For example, if you want to a buy a property with two garages, search for houses with one or more in the description. The house with one garage may very well be large enough to accommodate another car!
Above all, you need to actually go to open houses and follow these tips:
If you’ve found a house, you can even order a valuation before you submit a loan application. As a top tier specialist mortgage broker, we can order a valuation for free! Call us on 1300 889 743.
Different Types Of Property
There are various types of property, each with their own unique characteristics. As a general rule, properties fall into four umbrellas:
If you own a house or vacant land then you own the entire property. Whereas a unit or townhouse is strata title which means that you own your property and have a share in the common land.
Buying Off The Plan
Buying off the plan is when you commit to buying a property before it has been built. As the name suggests, you can only really see what the house will look like based on building plans.
Developers often invest heavily in marketing so you need to be cautious and avoid paying more than a property is actually worth. Compare the property that you are buying to sales outside of the development to ensure you don’t pay a premium.
While marketers often say that you are buying a property below market value, this is rarely the case except in a stagnant property market.
Since there is a long time between when you sign the contract of sale and when you become the owner, many banks will not issue your loan approval upfront. The value of the property or your personal situation may change before you become the owner so the bank cannot commit to approving a loan for you until close to the settlement date.
If the bank valuation of your property comes in lower than expected or you do not meet the bank’s lending criteria at the time you apply for a loan, then you may be unable to complete the purchase. You may lose your deposit and you could even be sued by the developer.
Some of our lenders can consider approving your loan up to 18 months before settlement which will reduce the risk of you being unable to complete the purchase. Most banks can only assess your loan up to 3 months before settlement.
Please enquire online or call us on 1300 889 743 to speak with one of our brokers.
Because you’re buying off the plan, it is imperative that the contract of sale be checked carefully by your solicitor or conveyancer.
Things to watch out for:
Our off the plan home loan page can provide you with more information.
Construction Loans
If you’re a first home buyer, you may be considering building a home. After all, it is a major milestone in your life so you want it to be unique.
Whether you decide to buy land then build, or purchase a house and land package, you’ll need to apply for a construction loan.
These types of loans can often be complex, with the property valued at each stage of the build and builders paid in instalments as construction progresses.
Luckily, our specialist mortgage brokers are experts in construction loans.
Please enquire online or call 1300 889 743 to find out if you qualify for a loan.
Check out our full list of property types for more information.
Will The Bank Accept My Property?
Although your loan has been pre-approved, that doesn’t mean that the bank will definitely issue you a formal loan approval. The bank must accept the property that you are buying as security for your loan.
Not all properties are accepted by the banks. The most common property types that are rejected are:
Not sure if your property will be accepted? Ask your mortgage broker before you proceed with making an offer.
Making An Offer
Agreeing to a price on a property can be a daunting challenge for some people but the key is to ask yourself some basic questions before you get to the negotiation stage.
Find out why the seller (vendor) is selling the property in the first place. They may be under pressure to sell and, therefore, may be more willing to go lower on price.
If a property has been on the market for around six to ten weeks then it is a good idea to make a low offer. Owners that have had their property on the market for more than six months usually have unrealistic price expectations and so will not accept a low offer.
Compare the selling price with that of comparable properties that have sold in the area in the last six months. Does the asking price match up? You can read our guide on how to value a property for more information.
If possible, don’t make an offer first! Let the vendor make the first move because at least then you know where their expectations lie.
For instance, if a house is advertised for $500,000 but the seller is actually willing to sell for $450,000 you may not be aware of this if you offer $480,000 right away.
Negotiations can be quite difficult because usually you’ll be dealing with the real estate agent and not the vendor directly.
The best strategy is to not appear to be too keen and to hint that you are in negotiations to buy another property. This is the same strategy that agents use on you when they say there is another interested buyer!
Pick out the faults and anything else wrong with the property even if it really is your dream home.
How Long Is The Cooling-off Period?
When you have had your offer accepted and your conveyancer and mortgage broker have given you the go-ahead, you can then sign the contract of sale and pay a holding deposit. You then have a cooling-off period in which you can still back out of the sale. Sales by auction do not have a cooling-off period. In some states, a cooling-off period can also be in the form of a clause that allows you to cancel the contract if you cannot obtain formal approval for your loan. This is normally called a finance clause however it can go by other names.The cooling-off period for property sales varies across Australia but the legal standard for each is as follows:
Bear in mind though that these are the minimum rights and obligations you have as a consumer. Each state usually has its own industry standard.
For example, NSW has a cooling-off period of five days but it’s best to negotiate 10 business days to allow for approval of your loan and/or giving the valuer time to access the property.
The industry standard for WA and QLD is anywhere between 14 and 28 days.
Regardless of a state’s cooling-off period, it is negotiable! You can always ask for a longer cooling-off period and in some states you can also waive this right completely.
Extending The Cooling-off Period
What if the cooling-off period is about to expire and you still don’t have your loan approval? You can simply ask for an extension.
At the end of the day, real estate agents don’t get paid unless the property is sold. If you’re close to having your loan approved, they know they’ll have to give you sufficient time to get your finances in order.
However, if there are a large number of potential buyers then the agent may decide not to extend your cooling-off period. In these cases, vendors may only grant you the minimum cooling-off period or no cooling-off at all depending on state consumer laws.
Please be aware that agents will almost always put you under pressure not to extend the cooling-off period and to commit to the purchase instead. They usually say that there is another interested buyer.
In the majority of these situations this is just hot air. Take your time and never commit to a property until you are certain that you have your loan approved.
Pest, Building And Strata Inspections
You should complete your due diligence on a property during the cooling-off period. For an auction this should be completed the week before the auction.
The main purpose of inspections is to ensure the house you are purchasing is sound. Your conveyancer can normally recommend a good building and pest inspector to check the property for you.
We strongly recommend that you put on some old clothes and go with them to inspect the property. By talking to them about potential problems first hand you can better understand how serious they are and what you need to do to rectify them when you are the owner.
If you are buying a strata title property (a unit or townhouse) then you will also need to arrange a strata inspection. This is where a company investigates the management of the strata corporation including the management of their finances and any future repairs and issues with the property.
Should I Go To An Auction?
Auctions can be a prime opportunity to land a great deal on a property. However they also have a risk to you as the buyer.
The reason for this risk is that there is no cooling-off period. You are required to pay your deposit right away and cannot back out!
We recommend that first home buyers and people with small deposits avoid auctions if possible.
Most properties in Melbourne are sold by auction so often you can't avoid them.
Preparing For An Auction
If you haven’t prepared for the auction then you can’t bid! Organise the below points well in advance to avoid missing out:
How Does An Auction Work?
In most states you are required to register and prove your identity prior to the auction. Talk to the real estate agent and your conveyancer to find out if this is required in your area.
While there are various articles on different bidding strategies, in our experience most of them make little difference. The person who is willing to pay the most wins!
The seller sets a reserve price and if it isn’t reached, the highest bidder usually has the first opportunity to negotiate with the seller.
The winner of the auction will need to sign the contract of sale and pay their deposit immediately.
Contract of Sale
After you and the vendor agree on a price (or you win an auction), then you will need to sign the contract to purchase the property.
This goes by different names in different states, for example:
The contract of sale includes such information as:
The process varies from state to state so check with your conveyancer or solicitor for specific information. Of course it goes without saying, don’t sign the contract until you have the go ahead from both your mortgage broker and conveyancer.
Get Formal Approval First
The contract of sale only becomes binding once it is signed by both the seller and the purchaser. Do not sign the contract until you know that you are approved for finance!
You need formal approval, which means the bank has accepted the property that you are buying as security for their loan and has confirmed that they are willing to advance you the loan funds.
Until you have formal approval you don’t have any guarantees that the bank will give you a loan.
Remember that in most cases it isn’t possible to get your loan formally approved prior to an auction. For this reason auctions always carry an element of risk, if the bank doesn’t accept your property as security then you may lose your deposit.
In most cases the bank will need to send a valuer to inspect your property before they convert your pre-approval into a formal approval. If you have a large deposit and are a very low risk borrower then they may decide that a valuation is not required.
Congratulations! You’re on the home straight now.
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Want to make all your rental income count? Contact us on 1300 889 743 or complete our free assessment form and our mortgage brokers will help ensure that all your income sources count!
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Tough lending criteria
Once of the negative aspects of second mortgages is the fact they can be very time-consuming to apply for because the lending criteria is complex.
It’s common for bank staff to be unfamiliar with the process so a lot of mistakes can be made.
Luckily, an experienced mortgage broker will make the process run smoothly.
Fees
Refinancing at the end of your fixed term may be a cheaper option than paying the high fees typically associated with a second mortgage.
If you’d like to know more about refinancing to release equity versus second mortgages, please give us a call on 1300 889 743 or complete our free assessment form.
) [1581] => stdClass Object ( [post_id] => 74320 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Mortgage brokers and financial advisers serve very different purposes. There may be overlapping duties, like collecting the same information for assessments, but ultimately they are not the same. If you are interested in finding the best home loan options and want someone to do all the legwork, a mortgage broker should be your choice. Based on their knowledge and expertise, they can narrow down the best products available for your situation. They may also be able to quicken your process with lenders with which they have a good rapport. However, mortgage brokers cannot make decisions or give you advice. They can only bring the best options to you. If you are keen on keeping to your financial goals, a financial adviser can keep you on the right track. With their knowledge of finance, they can steer you away from risky investments and advise you on which moves to make. However, they may not be very helpful in finding the most competitive rates for you when getting a loan. Mortgage brokers and financial advisers working together could lead to the optimal result for you. Financial advisers can devise a plan of action before you approach a broker so you can have clear objectives, or you can consult with a financial adviser for the final choice after getting the options from a broker. Want the best home loan deal available to you? Call us on 1300 889 743 or complete our free online enquiry form and tell us a little about your circumstances. One of our experienced mortgage brokers can provide you with a free, no-obligation assessment. ) [1582] => stdClass Object ( [post_id] => 33060 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>If you’re selling your property because you’re upgrading or downsizing, chances are you’ve already planned out your next purchase.
However, if you’re selling an investment property then it may be a good idea to start planning on your next purchase.
Before you sell though, speak with your accountant to make sure it’s the right way to go. Your accountant can also help you to manage your investment strategy, whether you’re aiming for positive gearing or negative gearing. They can also let you know whether Capital Gains Tax (CGT) may be applicable.
Our mortgage brokers specialise in securing finance for homes as well as investment properties. We can help you build a strong loan application so you can qualify the first time around.
You can discuss your next purchase with one of our credit specialists by calling us on 1300 889 743. You can also apply online and we’ll contact you within 24 hours.
[wbcr_snippet id="74843"] ) [1583] => stdClass Object ( [post_id] => 70203 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => We’re experts at dealing with different types of home loans. Our professional staff provide excellent service and trusted individual care. Contact us on 1300 889 743 or fill in our online form to speak to one of our Home Loan Experts. ) [1584] => stdClass Object ( [post_id] => 5897 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => What happens if you inherit a one third share of a property? The other beneficiaries may decide they want to sell, whereas you may decide that you would like to keep the property. You can apply for a mortgage to buy out the other beneficiaries / owners however if you don't have a 5% deposit in genuine savings then most of the banks will decline your loan even though you have a significant amount of equity in the property. The reality is that when an inherited property is received, you may not be ready to take on a new home loan so you may find yourself unable to qualify for a mortgage. Thankfully there are specialist lenders that can accept an application from you even if you have no genuine savings, problems with your employment, no income evidence or even a bad credit history. Our mortgage brokers are experts in helping people to finance a property that they have inherited. Please call us on 1300 889 743 or enquire online. ) [1585] => stdClass Object ( [post_id] => 1075 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
If a Home Loan Experts mortgage broker is arranging your home loan, please email your signed letter through to them.
Which lenders will accept a gifted deposit? Call us on 1300 889 743 or enquire online to find out.
) [1586] => stdClass Object ( [post_id] => 13269 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Do you receive anything other than Family Tax Benefits, Large Family Supplements, Child Support/Maintenance or a Veterans & Widows Pension? Unfortunately, we are unable to help you qualify for a home loan if you receive any of the following Centrelink benefits:
) [1588] => stdClass Object ( [post_id] => 43534 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Do I Qualify For An Equity Release Loan?
If You Want…
Call us on 1300 889 743 or complete our free online enquiry form to find out if you qualify for an equity release.
) [1589] => stdClass Object ( [post_id] => 83787 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => As with any mortgage application, if the bank valuation comes in low, then the loan may be declined. This means that you may be unable to complete your divorce settlement and successfully divide the property. So how can you control the bank valuation? The simple answer is that you can’t. However, as a mortgage broker, we have the ability to order valuations with several lenders before submitting a full application. You can then apply with the lender that has the most favourable valuation. In the past, the only way to obtain multiple valuations was to put in multiple applications at the one time. If you were to do so nowadays, you’d most likely fail credit scoring for all the lenders that you applied with due to the high number of enquiries on your credit file. As such, your loan application would ultimately be declined. Please call us on 1300 889 743 or enquire online to find out how we can help you obtain an upfront bank valuation.
Tips On Separating From Your Ex
The Australian Securities and Investments Commission (ASIC) MoneySmart website provides a checklist for someone going through separation. Some of those steps are listed below:Seek legal advice
You should seek legal advice from a qualified solicitor who specialises in family law before you apply for a loan to buy out your ex-partner or before you enter into any agreement with them. We’ve tried to ensure that the information on this page is accurate but family law is a complex area. For this reason, you must seek professional legal advice in order to obtain specific advice on your transfer of ownership.) [1590] => stdClass Object ( [post_id] => 83835 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Home Loan Experts can show you the government schemes for which you’re eligible and help you apply. Please speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short assessment form to buy your first home. Find out the best path to your new home today! ) [1591] => stdClass Object ( [post_id] => 35791 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => As with any mortgage application, if the bank valuation comes in low, then the loan may be declined. This means that you may be unable to complete your divorce settlement and successfully divide the property. So how can you control the bank valuation? The simple answer is that you can’t. However, as a mortgage broker, we have the ability to order valuations with several lenders before submitting a full application. You can then apply with the lender that has the most favourable valuation. In the past, the only way to obtain multiple valuations was to put in multiple applications at the one time. If you were to do so nowadays, you’d most likely fail credit scoring for all the lenders that you applied with due to the high number of enquiries on your credit file. As such, your loan application would ultimately be declined. Please call us on 1300 889 743 or enquire online to find out how we can help you obtain an upfront bank valuation.
Tips On Separating From Your Ex
The Australian Securities and Investments Commission (ASIC) MoneySmart website provides a checklist for someone going through separation. Some of those steps are listed below:Seek legal advice
You should seek legal advice from a qualified solicitor who specialises in family law before you apply for a loan to buy out your ex-partner or before you enter into any agreement with them. We’ve tried to ensure that the information on this page is accurate but family law is a complex area. For this reason, you must seek professional legal advice in order to obtain specific advice on your transfer of ownership.) [1592] => stdClass Object ( [post_id] => 56630 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Home Loan Experts can show you the government schemes for which you’re eligible and help you apply. Please speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short assessment form to buy your first home. Find out the best path to your new home today! ) [1593] => stdClass Object ( [post_id] => 84407 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Most mortgage brokers just compare the interest rates of different loans.
Your current bank can only offer its set LMI premiums, interest rates and loan products.
Is there a better way to compare loans?
Home Loan Experts takes a very different, 3-step approach to help you find the cheapest loan:
We're here to give you the information you need to make an informed decision, not to push particular lenders or loans.
If you'd like to know the cheapest LMI premium from our lenders, please enquire online or call us on 1300 889 743.
A Home Loan Experts mortgage broker will provide you with an obligation-free quote.
Once we have provided you with a quote, call us to discuss the available options and let us know which mortgage you'd prefer.
Our experts are aware of LMI approval criteria and pricing of different lenders, so we can provide you with an accurate and competitive assessment.
You can also leverage the power of the 360° Home Loan Assessor, which is a comprehensive tool that helps you assess how much you can borrow by considering your income, expenses and other financial factors.
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Do you need help buying a property overseas?
If you have an existing mortgage in Australia and want to know if you can cash out to invest in real estate offshore, call us on 1300 889 743 or fill in our online assessment form to find out how our mortgage brokers can help.
Buying property overseas is possible with a little creativity and help from an expert.
) [1595] => stdClass Object ( [post_id] => 84776 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>How do lenders view trusts?
Banks and other lenders in Australia tend to view trusts as extra work for them without any extra reward.
Trust applications are very complex, often with legal issues to consider, as well as more extensive paperwork to complete before approving the loan.
The majority of bank managers, mortgage brokers and credit staff don’t understand how trusts work so trust applications tend to get bounced between bank departments, resulting in delays and errors.
On top of this, many bank managers don’t actually know if their own bank does trust loans as many banks have ambiguous credit policies.
One of Australia’s major banks in particular can’t lend residential loans for trusts simply because their computer system can’t handle them!
We are mortgage brokers that specialise in financing loans for trusts.
Please contact us on 1300 889 743 or complete our free assessment form to find out which lenders will allow you to borrow for your trust.
) [1596] => stdClass Object ( [post_id] => 84780 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Yes. New Zealand citizens residing in Australia are eligible for the First Home Owner Grant (FHOG), as they are considered permanent residents. There are some requirements you’ll have to be met to buy a home as a New Zealand citizen:
Additionally, you have to meet the eligibility requirements for FHOG. Our expert mortgage brokers can help NZ citizens in Australia access the FHOG. Call us at 1300 889 743 or complete our free online assessment form.
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Don’t forget that your parents or relatives have gone out on a limb for you to get into the property market.
Your obligation to them is to remove the guarantee as quickly as possible, realistically within 5 years.
Having a guarantee in place can stop your parents from fulfilling their future plans.
Being aware of their goals helps you to plan how soon you will remove the guarantee:
If you’re not sure what you should do, you can speak with one of our expert mortgage brokers by calling us on 1300 889 743.
You can also enquire online to find out how our credit specialists can help you.
[wbcr_html_snippet id="71215"] ) [1598] => stdClass Object ( [post_id] => 33308 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>No. As a general rule, banks want the applicants borrowing the money and the people offering the security to be the same people. They’re often willing to accept a couple with a home as there’s a clear benefit to both of them in having that home. There are some exceptions to this though!
Loan Structures That Scare The Banks!
Buying An Investment Property
What if you have an investment property in one name, with both the husband and wife on the investment loan?
The banks begin to ask some difficult questions:
Financing A Business
What if you have a home as security for a business loan?
Often the business is just in the name of one person so the bank will want to know:
Most business loans are unregulated which means the banks have less rules requiring them to protect each property owner.
They'll tend to take a common sense approach and only approve a loan like this if it’s a low risk.
You can actually get business loans at home loan rates through some banks!
Don’t get ripped off: call us on 1300 889 743!
A Friend Borrowing On Your Property
What if your friend or family member wants to borrow against your property?
This is known as third-party security and it terrifies the banks for several reasons:
Luckily, there are solutions:
The banks are unlikely to help most people in these situations.
It’s best to call us to discuss your individual circumstances.
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We have brokers who specialise in all kinds of deals and have the right blend of personality, professionalism and responsive communication. Our brokers get many referrals from customers and much repeat business.
If you're searching for quality service and a smooth approval mortgage process, call us on 1300 889 743 or complete our online enquiry form today.
) [1600] => stdClass Object ( [post_id] => 43830 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Yes, you can start looking for a property once you receive pre-approval because the bank is satisfied with your strength as a borrower. It also:
However, there are a couple of things to keep in mind.
3 Month Time Limit
Most lenders have an expiry date on pre-approvals; usually 90 days. Depending on the lender, a valid pre-approval of 110 days is also available.
So take your time but don't wait too long.
The reason is that your situation can change in 3 months, including changing jobs or taking on new debt such as a credit card.
Don't Change Your Situation
On that note, try to stay in your job, avoid applying for more debt or make any major changes to your financial situation within those 3 months.
Otherwise, you may find that you'll need to complete an entirely new application or could be knocked for a home loan completely.
Don't Buy To Your Borrowing Limit
If you're pre-approved for $1 million, don't look to buy a $1 million property.
Your borrowing limit is an indication only.
In addition to this, you need to factor in the other costs of buying a home including stamp duty, mortgage transfer fees, conveyancing and legal fees and Lenders Mortgage Insurance (LMI).
Try To Stick To Standard Properties
Be weary of choosing unusual or non-standard properties like inner city apartments, bushfire prone properties, flood zone properties or heritage-listed real estate.
Most banks see these properties as high-risk because they can be difficult to sell in a buyers' market, or in general, should the bank be required to do so if you default on your mortgage.
Typically, you'll have a much better chance at formal approval if you're buying a standard residential home.
Do you have your conditional approval but aren't sure whether the bank will accept your property?
We're experts in getting home loans approved for unique properties like hobby farms so please call us on 1300 889 743 or fill in our online enquiry form today.
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There are several documents that the bank will need from you in order to process a loan for a trust:
Please talk to us on 1300 889 743 or fill in our free assessment form for a specific list of required documents.
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Generally speaking, both parties must be related and preferably in a parent-child relationship.
If neither you or the seller (vendor) are related, we may still be able to get you approved anyway.
The banks don’t mind too much if you’re wanting to buy a property market below value! Find out more on our ‘Purchasing A Home Below Market Value’ page.
Call us on 1300 889 743 to find out if you’re in a position to qualify for a favourable purchase home loan.
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Screen potential tenants
When it comes to a tenant in arrears, prevention is better than a cure.
Screen potential tenants thoroughly with not only a rental history check but even an employment and criminal history check.
Do as much due diligence as necessary and take your time to ensure you have the right tenant in your property.
You can't always rely on your real estate agent to do everything in your best interests: it's your investment property after all.
Question their decisions and ask whether they're doing a good enough job in managing your property.
You may want to screen the tenants yourself or change to a new real estate agent.
This is especially true if you can't get to your property on a daily or weekly basis: you're relying heavily on the judgement of the agent.
When screening tenants, a good agent is not afraid to advise you that the tenants they've interviewed are not reliable and that they have to keep looking.
In the long run, it's worth making the right tenant decision.
Consider landlord insurance
Landlord insurance will not only protect you against you a tenant in arrears but theft and damage as well.
Bear in mind that an insurance claim can't be processed until the tenant has vacated the premises.
Contact your insurer as soon as this has occurred, and have copies of breach notices, inspection reports and photos and videos ready to support your claim.
Want more tips on managing an investment property?
Our mortgage brokers are investment loan specialists but many of them are successful property investors in their own right.
We've heard success stories and we've horror stories when it comes to having a tenant in arrears.
Although we can't give tax and legal advice, we have plenty of free information that you can use when deciding on your next investment.
Check out our Investment Property Centre for more guides and tools that can help you make an informed decision when buying and managing your investment property.
Do you need an investment loan?
Call us on 1300 889 743 or complete our free assessment form and discover how we can help you today!
) [1604] => stdClass Object ( [post_id] => 3938 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Are you sure that the loan you are refinancing to is the best one for your situation?
As a specialist mortgage broker, we have access to refinancing options that are very competitive and not available through most other mortgage brokers.
We'd love to give you a second opinion. Please call us on 1300 889 743 or fill in our free assessment form and one of our specialist mortgage brokers will get back to you with several competitive options.
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We regularly see people who have had a dispute and as a result were without their income for some time. If your income has been denied, then it is probable that you have missed repayments on your current loans and this may result in a default, tainting your credit history.
However, we can still assist you with a home loan as long as you can prove that your income is ongoing.
To find out how you can get approval for a mortgage, contact us on 1300 889 743 or enquire online and let us help you apply.
) [1606] => stdClass Object ( [post_id] => 64069 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>You can get a home loan while on probation at work to ensure that your job is secure while applying for a home loan. We know a few lenders who might get your application approved.
Most lenders might approve your loan if:
Read more on how to apply for a home loan during your probationary period here.
A handful of lenders will most likely consider approving your loan if you’re starting your new job in a similar industry. You will need to provide proof that you’ve started a new job, such as your employment contract or payslip.
You can contact us on 1300 889 743 or fill in our free assessment form to find out if you qualify. Also, we highly recommend that you use our job loan calculator to find out your chances of getting approved.
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How will banks assess my application?
One of the first things the bank will do with a farm loan application is undertake a detailed valuation of the property.
For borrowers wanting to buy the land (freehold) and run a business as a going concern, you’ll generally need to show that you’ve had some experience working in a similar operation. The bank will usually ask for:
What if I have bad credit?
Luckily, with the right commercial lender, you don’t need to have a perfect credit file to get approved for a farm mortgage.
If you’re buying the land as a standalone investment (freehold), you’ll need to demonstrate that you can meet your repayments with a good financial position and good security to support the loan.
In addition, the bank will want to know the financial situation of the lessee and their business.
It’s similar to buying a going concern: the bank needs to be confident that the business can stay profitable and keep paying rent so you, in turn, can make your mortgage repayments.
Call us on 1300 889 743 or complete our free assessment form today.
How will banks look at the farm?
The commercial lending departments of banks will usually undertake what is known as a SWOT analysis, which stands for Strengths, Weakness, Opportunities and Threats.
Although it works differently from lender to lender, a SWOT analysis for a commercial farm may look something like this:
Strengths: For example, you have experience working or even managing an income producing farm.
Weaknesses: You don’t have a thorough business plan that highlights how you can keep your business afloat during tough seasons.
Opportunities: This may come down to the fact that you’re producing a niche product such as a particular vegetable or type of cattle that is currently not meeting demand.
Threats: Competition is a major threat in the farming industry.
What about location?
It really depends on what type of farm you’re looking to buy.
Some climates and environments are better suited to dairy farms than a turf farm, for example.
Lenders have specialist teams that look into these types of factors and will be wary about approving farm loans for a location that won’t support the continuing success of your business.
What can I use the loan for?
Commercial loans for commercial rural properties are not black and white in terms of bank policy.
However, banks will measure the risk of certain applications:
What can I use as security?
Apart from a residential property, the bank will also take into account any existing assets that are part of the sale of the farm.
Some of these assets can include cattle and other income producing stock and farm equipment such as tractors and cranes.
The bank will run a valuation on these assets the same as if they were running a valuation on a residential property as security.
Will the bank need yearly reviews of the business?
Yes, business plans and forecasts are generally required but it depends on your exposure limit, the type of security you have and your previous experience in successfully running a similar business.
As a general rule, any enterprise over $1 million will require yearly reviews but some lenders don’t require yearly reviews at all!
Complete this free assessment form or call 1300 889 743, tell us what you’re planning to do and one of our experienced mortgage brokers can help you find a lender that will take a common sense approach to your farm loan application.
What if I'm a foreign investor?
As of 1 December 2015, government laws now require foreign persons who own, or have an interest in, Australian agricultural land to notify the Australian Taxation Office (ATO) of their interest.
This has been implemented under the register of Foreign Ownership of Agricultural Land Act 2015.
These requirements are for foreign investors who:
The threshold is cumulative!
FIRB will take into account the value of any agricultural land that you currently own (or have an interest in).
For example, if you previously acquired agricultural land valued at $9 million, you wouldn't have been required to notify FIRB.
However, if you intend to buy another piece of land valued at $10 million, you will exceed the $15 million threshold and will need to report this purchase and the details of your current land ownership to the board.
It's also important to keep in mind that direct interest in agribusiness valued at $55 million or more will also be screened by the Foreign Investment Review Board (FIRB).
If you're required to seek FIRB approval on the sale of a commercial farm worth $10 million or more, you''ll be required to pay a non-refundable application fee of $100,000.
For more information, please refer to the FIRB website.
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Whether you're new to developing or you're an investor with big plans to rapidly build your property portfolio, speak with one of our specialist mortgage brokers.
We're experts in residential development and commercial development loans!
Call us on 1300 889 743 or fill in our free assessment form and discover if you qualify!
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What is a pre-settlement risk?
When one party of a contract fails to meet the terms of the contract and defaults before the settlement date is reached, it is known as pre-settlement risk. Basically, it's the risk where one party prematurely ends the contract.
For example, you own a business and you're using the income you earn from it to cover your mortgage repayments. If your business goes bankrupt then you'll have no option but to default on the contract, provided that you don't have any other source of income.
It's important to consider all risks associated with mortgages before you decide to buy a property.
You can contact us on 1300 889 743 or fill in our free online assessment form to get more information on settlement.
) [1610] => stdClass Object ( [post_id] => 33256 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>We can help you qualify for a:
Will I pay CGT or GST when selling the land?
Since the purpose of buying vacant commercial land is to either build residential or commercial property or to subdivide the land and sell, sales proceeds will be considered ordinary income and will be subject to the Goods and Services Tax (GST).
However, if you plan to buy the vacant land, develop property (either commercial property or residential) and the rent it out, the land would be considered a capital investment and would be subject to Capital Gains Tax (CGT) instead.
You should speak to your accountant before making a decision on tax-related matters.
Do you need a commercial loan?
Get in touch with one of our experienced mortgage brokers by calling 1300 889 743 or by completing our free assessment form.
We can let you know if you qualify for a vacant commercial land loan!
) [1611] => stdClass Object ( [post_id] => 2106 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Please enquire online or dial 1300 889 743 to get expert advice on low doc loans from one of our specialist mortgage brokers.
) [1612] => stdClass Object ( [post_id] => 64298 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Our mortgage brokers can assess your situation and give you the best options, but it really comes down to you.
You need to decide for yourself:To speak with one of our mortgage brokers, call 1300 889 743 or complete our free no-obligation assessment form.
) [1613] => stdClass Object ( [post_id] => 35482 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Yes but not with a mortgage deposit using a credit card.
Apart from using your rental history, you can ask your parents to gift you a deposit for a home loan.
Another solution is a parent assist mortgage where your family essentially loans you the money for the deposit. This is a loan facility is offered and managed by a specialist lender on our panel.
Of course, the most popular solution to avoid genuine savings and having to provide a deposit is with a guarantor loan.
You can actually avoid Lenders Mortgage Insurance (LMI) and borrow 100% of the purchase price plus the costs of completing the purchase including stamp duty and legal fees.
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our non-genuine savings experts and we can let whether a mortgage deposit using a credit card is your best option.
) [1614] => stdClass Object ( [post_id] => 3378 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
When applying for a home loan with the support of allowance income lenders are wary because they believe that the shifts you're assigned may change in which case, you would no longer be receiving your penalty rates.
However, we know that this is simply not true! Lenders tend to have very outdated policies that don't take modern employment agreements into consideration.
Contact our team on 1300 889 743 or enquire online and we will find a lender who understands shift allowance and will include it in a serviceability assessment.
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Ben was able to get pre-approved for a $3.2 million at 80% LVR (the maximum LVR for a low doc family trust loan).
He was even able to qualify for an offset account as an exception to normal family trust loan policy.
In this way, he can reduce his interest payments and get the most out of his investment property.
Do you earn dividend income?
Please call us on 1300 889 743 or complete our free assessment form and we can help you qualify with a lender that takes a common sense approach to this income.
You may be able to increase your borrowing power just by choosing the right lender!
) [1616] => stdClass Object ( [post_id] => 446 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Lenders are conservative when assessing loans secured by multiple dwellings in one location because these properties can be difficult to sell particularly in an economic downturn.
If you have multiple properties spread out over different locations this represents a much lower risk to the bank and can be assessed normally.
Give us a call on 1300 889 743 or fill in our free assessment form and one of our brokers can tell you whether you qualify for a mortgage.
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If you are experiencing financial hardship then there are measures that you can take to try to prevent adverse listings being lodged on your credit file.
Please call us on 1300 889 743 or enquire online for more information.
) [1618] => stdClass Object ( [post_id] => 3749 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>We specialise in helping those on a bridging visa to apply for a mortgage. Our mortgage brokers know which lenders can accept your home loan application and offer you competitive discounts.
Please either call us on 1300 889 743 or complete our free online assessment form, and one of our brokers will give you a call to discuss your eligibility for a bridging visa mortgage.
) [1619] => stdClass Object ( [post_id] => 34178 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Some lenders can be stricter when it comes to independent financial advisers and limit your borrowing to 50% of the purchase price of a practice rather than 70%.
They may also take a more conservative approach when assessing the renewable income and the EBIT of the client book that you want to buy.
Why?
If you're one of the few independent advisers operating in Australia, you certainly have more flexibility and control in choosing investment products for your clients and following your own methodology when building an investment portfolio.
However, the trade-off is that you potentially carry a higher compliance risk and there are also higher costs in maintaining your AFSL.
You have to keep a compliance plan and update it on a regular basis as your practice grows and that's not to mention the level of Professional Indemnity Insurance that you'll be required to hold depending on the size on your current book of business.
If you're independent and you want to refinance to a cheaper interest rate or you want to access working capital, you'll may still be considered for finance! You just need to show evidence of recurring revenue from your current book of clients and that you are RG 146 compliant as per the Financial Services Reform Act 2001 (FSR).
Remember, not all lenders are the same!
We can help you put together a financial planning practice loan application that highlights your strengths, including your financial position and the systems and procedures you have in place to meet your compliance obligations.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [1620] => stdClass Object ( [post_id] => 34997 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The specialist lender will look at your bad credit history on the basis of "life events".
A life event could be anything from being made redundant, getting divorced, business failure or even the death of a loved one who contributed to the household income.
Australians in these situations may soon find themselves defaulting on their home loan, missing payments on bills like electricity, gas and telco, or even having to declare bankruptcy or enter into a part 9 agreement.
The trick to getting approved for an SMSF bad credit loan is providing evidence that blemishes that you incurred on your credit were due to one, or a maximum of two, life events.
To prove this, the lender will want to know:
Provide as much evidence as you can, such as a plan that you've made with your accountant or financial adviser to once again put yourself on the path to financial stability.
All bad credit listings will be considered on a case by case basis so why not call 1300 889 743 or fill in our online enquiry form and talk to us about your circumstances.
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Some of the smaller lenders do not use credit scoring at all! A real person with some common sense can assess your application.
Our mortgage brokers are experts in credit scoring, please call us on 1300 889 743 or enquire online to find out how we can help.
) [1622] => stdClass Object ( [post_id] => 70191 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Not sure which lender is right for you? Our Home Loan Experts can help! Talk to one of our award-winning mortgage brokers by calling us on 1300 889 743 or complete our free assessment form. [wbcr_snippet id="72183"] ) [1623] => stdClass Object ( [post_id] => 53535 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
From an interest rate point of view yes, fixing is cheaper than variable and it's unlikely that variable rates will drop to the level that fixed rates are at now.
However fixing might not be the right option for everyone. Please read our page 'Should I fix my home loan?' for more information about the risks and restrictions of fixing your loan.
If you still need help to determine if fixing your home loan is right for you, talk to our award-winning mortgage brokers.
They are safely working from home, and can help you with any queries you have. Call us at 1300 889 743 or fill in a short assessment form.
[wbcr_php_snippet id="65902"] ) [1624] => stdClass Object ( [post_id] => 99 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>This varies depending on your situation and how each lender assesses your borrowing capacity. We know banks that will only require a 5% deposit! Generally, this applies when your income is sufficient to cover the loan repayments, you have stable employment and a good credit history with no defaults.
lenders mortgage insurance (LMI) applies to loans for more than 80% of the property value. If you want to avoid paying LMI, you will need a 20% deposit.
You will not pay any LMI and will not even need a deposit if your parents act as guarantors and guarantee your loan using their property as security.
To apply for a 95% LVR loan or guarantor loan, please call us on 1300 889 743 or complete our free assessment form.
Can I borrow the stamp duty as well?
Stamp duty is a sizeable amount so most banks will only allow you to borrow to pay for the cost of stamp duty if your loan is backed by a guarantor.
There are also circumstances where stamp duty may not be applicable, such as for some first home buyers or if you are buying a new home. This varies across between the states and territories depending on the current government incentives and programs.
How long will a preliminary assessment take?
Using our expertise, we can find you the right home loan in less than 24 hours as long as you provide us with all of the required documents in one go.
If you are in a hurry to get approved because you are going to an auction or have a deadline for a cooling off period on your purchase then please let your mortgage broker know and they can escalate your application.
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Variations for refinance can vary significantly among lenders. Each one has its own valuers and methods. The secret, then, is to get valuations from more than one lender. A broker can do this and then lodge your loan with the most suitable one after considering their valuation and interest rates – along with your needs.
Do you need to ensure your property has the highest valuation for a refinance? Our mortgage brokers can help. Call us on 1300 889 743 or enquire online today.
[wbcr_snippet id="73272"] ) [1626] => stdClass Object ( [post_id] => 69975 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Contact our expert mortgage brokers at 1300 889 743 or fill in our online assessment form and we will help you take advantage of all the benefits of home loans for doctors. [wbcr_snippet id="74068"] ) [1627] => stdClass Object ( [post_id] => 77912 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Mary got exactly what she asked for – a 100% offset account with redraw facilities and a split loan with competitive rates and a cashback of $3000. This is what her loan structure looked like: Loan 1: $270,000 – 2-year fixed rate, 5.39% Loan 2: $270,000 – variable rate, 4.54%, 30 years Before refinancing, her monthly interest repayment was approximately $3,059 and after refinancing, her monthly repayment is $2,888. She was able to save about $171 a month on her repayments. She was also able to enjoy the additional facilities that would not have been available to her had she re-fixed with her old lender. She was glad that Rojina and her team were there to explain and guide her through the process and reassure her. If you are interested in exploring the benefits of a split loan or want to look into other options to maximise your savings and flexibility, Call us today on 1300 889 743 or complete our free assessment form. We will guide you through the process of finding the right loan structure and features to meet your unique financial goals and needs. Whether you’re interested in a split loan, fixed loan, variable loan or any other loan, we have the knowledge and experience to find the best solution for you. Don’t wait to take control of your financial future – let us help you today! ) [1628] => stdClass Object ( [post_id] => 184 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Each low doc lender has its own strengths and weaknesses. To find out which lender can help you in your situation, speak with one of our expert mortgage brokers.
Call us on 1300 889 743 or Enquire online to discuss the right home loan option for you.
[wbcr_snippet id="71863"] ) [1629] => stdClass Object ( [post_id] => 43882 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Undertaking renovation and extension work is one thing but constructing a property from foundation to frame-up and lock-up is another thing entirely.
Even if they're a licensed, registered and insured, you're taking a risk on building your first home with someone that's new to the game.
If you're able to, go with someone that has built their own home and ask if you can inspect their property. They will have likely used quality fixtures and finishes.
Conversely, builders that haven't had experience with extensions and renovations may not have the nuance to "add" to the existing property while retaining the same look and feel that you fell in love with.
The choosing a builder page https://www.homeloanexperts.com.au/home-loan-articles/choosing-a-builder/ goes into more in-depth golden tips on determining whether your builder is up to scratch.
Looking to get started on building a home?
Complete our free assessment form or call 1300 889 743 today to speak with one of our construction loan /home-loan-articles/construction-loan-tips/ specialists.
) [1630] => stdClass Object ( [post_id] => 13790 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Our mortgage brokers know how the banks work, and can help you to apply with a lender that doesn't credit score or who can accept your situation.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will give you a call to discuss your options.
) [1631] => stdClass Object ( [post_id] => 30533 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
You can use a limited guarantee to reduce the risk faced by your guarantors for your home loan. With a limited guarantee, they are only liable for a part of your home loan.
To calculate this, you need to know how much you want to borrow and the property price. You can then calculate your limited guarantee with the formula:
Size of the limited guarantee = (total loan amount / 0.8) – property price
Keep in mind that this formula is to work out how much limited guarantee you will need to keep your total LVR at 80%. You'll also need to make sure that your guarantor at least has enough equity to cover the calculated amount.
You can use our Guarantor Loan Calculator as a guide to work this out.
You can also call our brokers who specialise in guarantor loans on 1300 889 743 or fill in our free online assessment form and they can do the calculations for you.
[wbcr_snippet id="74219"] ) [1632] => stdClass Object ( [post_id] => 75654 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => As your mortgage broker, Home Loan Experts can help you assess your situation and find the right lender. Whether you're looking for a competitive rate or a home with the highest value you can afford, we're here to help. Call us on 1300 889 743 or fill out our free online enquiry form today! ) [1633] => stdClass Object ( [post_id] => 5632 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>To find out how we can help, contact us on 1300 889 743 or enquire online today!
) [1634] => stdClass Object ( [post_id] => 34108 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Remember, it's up to local councils to decide what zoning is appropriate in their area so don't simply start converting or extending a residential property or warehouse without getting a proper DA approval or permit. The council may well deem the building work illegal and force you to scale back your plans or even force you to pay for reparations. If you decide to go ahead with the renovation work without proper approval, your building insurance and public liability insurance won't cover you and, when you decide to sell, you could face thousands of more dollars in reparation work. That's because the structure and building standards of the premises should match with what's on council's records. You could potentially lose the sale! Proper approval and permits are usually required in the following circumstances:
If you’re looking to do a cash out refinance to invest, buy a house or pay off debts, then speak with one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our free assessment form.
) [1636] => stdClass Object ( [post_id] => 1906 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Please call us on 1300 889 743 or enquire online if you wish to talk with a mortgage broker who can give you expert advice on basic home loans.
) [1637] => stdClass Object ( [post_id] => 77440 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>At Home Loan Experts, our mortgage brokers can help you with either refinancing or repricing your home loan.
We have customers boasting that our brokers do all the work for them, and quickly, as they sit back and relax. Call us on 1300 889 743 or fill in our free online assessment form, and we will assign our expert to assist you.
) [1638] => stdClass Object ( [post_id] => 47291 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>By approaching Home Loan Experts, Anna was able to get her home loan approved on time and avoid losing their deposit on their dream property.
She and her son were so grateful, they came to our office and surprised Azita with flowers and chocolates.
They are now living happily in their new home.
Call us on 1300 889 743 or fill in our free assessment form to start your home buying journey today.
) [1639] => stdClass Object ( [post_id] => 65098 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Lenders are also offering to change the loan package if it benefits the customer. For example, one of the major lenders is offering their customers an option of increasing the loan term so that the monthly repayments can be lowered. If you request your bank, they could also add your overdue repayments to your loan balance, so you'll no longer be in arrears. You can also change your loan to interest-only repayments. However, it will only be for a limited period of up to 12 months. However, there may be criteria you will need to meet to qualify for interest-only home loans during COVID-19 lockdowns. Besides the banks, the NSW government is also providing financial support to households, individuals, and businesses. If you need help finding out what kind of relief you are eligible for or any other information that might make your home loan situation better, give us a call at 1300 889 743 or fill in our free assessment form. ) [1640] => stdClass Object ( [post_id] => 47870 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Samantha and her husband were extremely happy to buy the home of their dreams.
They now spend most of their free time growing vegetables in their garden and are expecting their first child.
Do you need help getting approved for a low doc home loan?
Call us on 1300 889 743 or fill in our free assessment form today.
) [1641] => stdClass Object ( [post_id] => 25585 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>What do the banks assess?
Lenders see pubs and bars as ‘specialised’ commercial properties which means they treat them a little differently to such commercial real estate as office buildings and warehouses. Businesses operating within the hospitality industry operate within a small market and are quicker to be affected by poor management making them riskier ventures. It’s this reason that most commercial lenders will require you to have at least 1.5 to 2 times the amount of income to proposed interest expenses. This is known as the ‘serviceability ratio’. You don’t necessarily need a clean credit history. If you can provide detailed explanations of how you resolved such credit issues as defaults, there are lenders who will consider your case. Call one of our specialist mortgage brokers on 1300 889 743 so we can help you to present a strong case to the lender. Apart from assessing your ability to pay back the loan, you’ll need to prove to the banks that you can run a successful business. The best way to highlight this is with significant experience in an operation equivalent to the property you’re planning to purchase. The requirements for this will vary from case to case but it helps to submit a resume along with your loan application that shows this work experience as well as:Generally, you can borrow up to 85% of your outstanding invoices with most banks.
However, if you can prove that you're a strong business with low risk, you may be able to borrow even as high as 90%.
A reputable and strong business can borrow up to 90% even with a bad credit history. You'll have to apply with a specialist lender though.
If you're not sure how much you can borrow, you can speak with one of our factoring and business loan specialists. Call us on 1300 889 743 or complete our free online assessment form today.
) [1643] => stdClass Object ( [post_id] => 33336 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Banks tend to prefer head lease arrangements because, in the event that you default, you're not primarily liable for the rent and outgoings of the leasehold.
This is a risk that the franchisor wears when they sign you on.
Coupled with the strength of the franchise model, it's the reason why some banks will allow you to borrow at a higher LVR (Loan to Value Ratio) than if you were to buy a franchise business that doesn't operate under a head lease.
Call us on 1300 889 743 or complete our free assessment form to find out how much you can borrow with a franchise loan.
) [1644] => stdClass Object ( [post_id] => 25818 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Our mortgage brokers take a comprehensive approach when assessing your situation and have strong relationships with more than 40 different lenders. They can advise you on which home loan type will work best for you.
Call us on 1300 889 743 or complete our free assessment form to see how we can help you.
Disclaimer: This is general information only and should not be taken as financial advice. Please speak to a financial professional before making a decision on your home loan.
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If you need the services of a mortgage broker to help get your loan approved then why not talk to us at the Home Loan Experts? Please call us on 1300 889 743 or enquire online to speak to one of our experienced staff.
) [1646] => stdClass Object ( [post_id] => 59954 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The family of three has now happily moved into their beautiful home. They thank Jenish every time they meet for all the good work he did for them. Are you looking for a 100% LVR no LMI home loan? Our specialist mortgage brokers can help you find a suitable lender from our panel of 50+ lenders. Call us on 1300 889 743 or fill in our free assessment form to start your home buying journey today.
) [1647] => stdClass Object ( [post_id] => 74587 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Lenders seek borrowers with stable jobs and consistent income. Most lenders prefer to see that you have been in a full-time job for at least three months and have completed any probationary period. Lenders are more reluctant to provide home loans to people with casual employment or who have been working irregular hours because their income is less certain. They also strictly assess self-employed borrowers and often deny loans to people who have been self-employed for less than a year, as they don’t yet have tax returns to prove their income. It’s also hard for people with unusual employment, such as those with multiple part-time jobs and contract workers, to qualify under the banks’ lending criteria. Note: Got an unusual job and banks won't help? Don’t worry. Our specialised mortgage brokers can help you find the right loan if you have unique employment status! Call us on 1300 889 743 or fill in our free online assessment form today! ) [1648] => stdClass Object ( [post_id] => 54290 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Please talk to our mortgage brokers for more details on how much you can borrow. You can call us at 1300 889 743 or fill in our free assessment form. ) [1649] => stdClass Object ( [post_id] => 31002 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Most banks can lend from 75% to 85% of your outstanding invoices. However, depending on the strength of the business, you can borrow even more.
Banks prefer the diversification of risk. They like to see a strong business and a mix of customer and suppliers. If you have a strong business with low risk, you can even borrow up to 90%.
We have mortgage brokers that understand invoice discounting. We can help you prepare your application so you can borrow more.
You can speak with one of our mortgage brokers by calling 1300 889 743. You can also fill in our free online assessment form to see if you qualify.
) [1650] => stdClass Object ( [post_id] => 77457 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>If you’re in this position, consider seeking the advice of experts. Contact Home Loan Experts on 1300 889 743 or complete our free online assessment form today to explore your options. Starting the process as soon as possible can help you avoid missing out on potential savings due to delays or interest rate changes. Take control of your financial future now, before it’s too late.
) [1651] => stdClass Object ( [post_id] => 946 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The good news is that there are several lenders that can allow you to use this structure, and they all have very competitive interest rates!
By setting up the loan in your name you may receive some tax benefits that are not available if the loan is in the trust.
Please discuss this with a qualified accountant for more information.
To apply for a trust loan in your name, please enquire online or contact us on 1300 889 743 to discuss the structure of your finance with one of our mortgage brokers.
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Call us on 1300 889 743 or fill in our online enquiry form to find out if you can use the equity in your home.
) [1653] => stdClass Object ( [post_id] => 72699 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The percentage of the median household income required to pay the median rent on a new lease as of June is 30.9%, up from 30.3% in the previous quarter. Higher domestic demand and a slow supply of rentals have caused a shortage. Amid decreasing property value and increasing rent, challenging times lie ahead for renters with little to no savings. However, it is a favourable time for renters with high savings to consider buying a home. If you are thinking of buying a house in a downswing of the property market but you think making the repayments would be a challenge, our mortgage brokers can provide their professional assistance. Call us on 1300 889 743 or enquire online today!
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Live the life you want
The main benefit is being able to live in the area you want.
It may be for practical reasons such as being close to work or public transport.
Usually, it's for lifestyle reasons such as being close to great pubs, food, entertainment and all of the cultural benefits of living in popular locations.
Get on the property ladder sooner
A close second is being able to get into the property market sooner, build wealth and put yourself in a position to buy your own home in the future.
Tax benefits
All interest payments, maintenance costs and ongoing costs such as council rates, property management fees and insurance are tax deductible in an investment property.
As a renter, you also don't incur any maintenance costs.
When you own a property, none of these costs are tax-deductible.
Good for when your life changes suddenly
If your situation changes suddenly and you need to move, it's much easier to do this as a renter than if you were living in the home you purchased.
For example, you may need to move for work, or you just got married or you're expecting children and need somewhere bigger to live.
Renting is also much cheaper because you don't have to pay capital gains tax (CGT), solicitor's fees and the other costs associated with a selling a property.
You can just pick up and move on.
Feel like rentvesting is right for you?
Call us on 1300 889 743 or complete our online enquiry form.
We can provide you with a free suburb report for a specific address so you can make an informed decision.
We cannot provide specific advice as a mortgage broker but we can help you crunch some numbers and get you an investment loan that's right for your needs and goals.
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If you haven't refinanced or renegotiated your home loan in the last two years then you're almost certainly paying too much!
In the past, most people only needed to refinance every 4 years to keep a competitive loan but, oh, how things have changed.
Not many Australians know this but there are a lot of negotiated interest rates that just aren't advertised.
If you'd like to know more, just call us on 1300 889 743 or enquire online.
) [1656] => stdClass Object ( [post_id] => 76910 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Source: FIRB Guidance Note 10 – Fees on foreign investment applications
Before proceeding with any contract, you should seek legal advice specific to your circumstances to ensure you do not fall foul of legislation. Failure to do so may result in huge penalties. Speak to your conveyancer, as each situation can be unique and conditions may be attached.
We Can Help With Your Home Loan!
Foreign investors can save time and money by looking at the ITRs or at properties with exemption certificates. Looking for home loans to finance your investment? We have mortgage brokers who specialise in helping foreigners in Australia and Australians living abroad get a home loan.
Call us on 1300 889 743 or +61 2 9194 1700 or fill in our free online assessment form, and we will contact you.
) [1657] => stdClass Object ( [post_id] => 50327 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Our expert mortgage brokers can work with your current situation and identify solutions to get you out of being a mortgage prisoner.
If you’re locked in as a mortgage prisoner, talk to our expert brokers.
We can find you tailor-made solutions so you can refinance to a competitive interest rate home loan.
To get in contact with our brokers, call us at 1300 889 743 or fill in our free assessment form today.
) [1658] => stdClass Object ( [post_id] => 2330 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>In our experience, salespeople tend to have very stable incomes and can support a loan without posing a higher risk to themselves or the lender.
This is because of a few factors that many lenders don’t take into account, such as:
Unlike most banks, we understand that commission remuneration is a viable source of income.
Contact us today on 1300 889 743 or fill in our free assessment form.
Our specialist mortgage brokers know how to get you approved!
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We at Home Loan Experts know which lenders offer the best deals for occupational therapists, with reduced interest rates and fee waivers. Call us on 1300 889 743 or fill in our free assessment form to get in touch today!
[wbcr_html_snippet id="73985"] [wbcr_snippet id="74088"] ) [1660] => stdClass Object ( [post_id] => 79319 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Are you considering refinancing your home loan? If so, it's important to understand the common reasons why refinance applications get denied. We can help you through the process, compare rates and find the best refinance deal for your needs.
Contact us today at 1300 889 743 to learn more about how we can help you refinance your home loan or complete our free online assessment form, and we'll get back to you right away.
) [1661] => stdClass Object ( [post_id] => 32576 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Whether you're just starting your business or you're looking to take that next step in growing your venture, it’s important to get an independent legal advice from a solicitor who specialises in company law.
In addition, seek out guidance from a financial planner and an accountant.
These two professionals can help you map out what your ultimate business and financial goals are and what type of business structure would be in your best interests.
Although there is no perfect ownership structure, some structures will work better for you than others.
As mortgage brokers, we can't advise you on what business structure will work best for you but we can help you qualify for a business loan.
We can shop around to lenders and find one that will offer a competitive interest rate and terms for start-up and ongoing capital, equipment finance and invoice financing.
We even do franchise loans!
Call us on 1300 889 743 or complete our free assessment form and find out why we're business loan specialists.
) [1662] => stdClass Object ( [post_id] => 458 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Concentration risk
If you have multiple properties in the one town then some banks will be unwilling to take on your application. This is risky for you as an investor as well as the bank.
Please try to spread your investments between different towns that focus on different resources.
We work with banks that have no location restrictions and an open minded view of investment loans used to buy in a mining town.
Please call us on 1300 889 743 or enquire online to find out how we can help you.
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Although Mad Mex is an accredited franchise, it doesn't mean that you'll automatically get approved for Mad Mex franchise loan.
The bank's appetite for franchise businesses changes on a very infrequent basis: a store that was accredited 6 months ago may not on the list today.
At the very least, the amount you can borrow or the Loan to Value Ratios (LVRs) offered by lenders can change and much of this has to do with the amount of funds they allocate for particular franchises in any given year.
If they reach that target, you won't be able to get a franchise business loan with that bank, however, there may be another lender that can help.
We have strong relationships with nearly 40 Australian lenders so we can negotiate strong commercial interest rates and help you to borrow more than you normally would if you were to apply with the bank directly.
Call us on 1300 889 743 or fill in our online enquiry form to speak to a franchise loan specialist today.
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Not every commercial property is accepted
The banks prefer SMSF loans to have a standard commercial property as security.
It's relatively easy to finance:
It's harder to finance specialised properties such as:
Don't assume we can't help!
Give us a call on 1300 889 743 or fill in our free assessment form and we'll let you know if your property will be accepted.
Are you buying your business premises?
If you're a business owner and you have an SMSF, then there may be a tax, capital or investment benefit for you to sell your commercial premises to your SMSF.
It's against the law to sell a residential property to your own SMSF; however, there are no such restrictions with commercial properties.
Some lenders will favour this type of transaction as opposed to the simple purchase of a commercial investment property within your SMSF.
You should seek financial advice from your accountant before you decide to sell your business premises to your SMSF as there are complex Capital Gains Tax (CGT) and SMSF legislation that needs to be considered as well as your own personal financial circumstances.
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Other mortgage brokers are afraid to touch franchise business loans because they see it as too much work or they lack the credit knowledge to get the deal approved.
Our brokers on the other hand know exactly which lenders have Red Rooster as an approved franchise.
On top of that, we can find out what their "exposure" limits or appetite is for Red Rooster franchises to avoid the possibility of getting declined.
In some cases, a bank may either limit the amount you can borrow or decline your Red Rooster franchise loan application simply because they have no more funds to allocate.
We can go with the right lender and help you build an application that ticks all of their boxes.
It's about presenting a strong proposition: the stronger the deal, the better the interest rate we can get you.
Call us on 1300 889 743 or complete our free assessment form and discover how you can use your existing residential property to borrow up to 100% of the business value.
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If you are using a mortgage broker then they should monitor the expiry of your fixed rate and automatically reprice your loan when the fixed rate expires. If your bank doesn't negotiate at that time then they'll assist you to refinance.
If you aren't using a mortgage broker then you can set a reminder in your diary for the day your fixed rate expires and then shop around to get a better deal. If your lender won't match the best on the market then you can refinance.
Some people choose to refix their loan instead of refinancing however you should be careful as the fixed rates will likely have changes and so you should still shop around to see what is out there.
Call us at 1300 889 743 or fill in our free assessment form to get connected with our award-winning mortgage brokers.
) [1667] => stdClass Object ( [post_id] => 54614 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Due to the coronavirus pandemic, certain industries, professions and businesses have been affected more than others due to social distancing measures and international travel bans.
If your employer has been heavily affected by the coronavirus pandemic, and your job has been temporarily suspended, then your home loan might not be reviewed favorably by some lenders due to their tightened credit policy, especially if you’re employed in these industries:
Please note that this list is not exhaustive and lenders will consider each application on a case by case basis.
However, our mortgage brokers know how to demonstrate your strength and find a suitable lender for you.
Call our mortgage brokers at 1300 889 743 or fill in our free assessment form.
) [1668] => stdClass Object ( [post_id] => 62117 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Our brokers can guide you through the process and get you the most competitive loan for your situation. Enquire online or call us on 1300 889 743! Note: Be sure to check our first-home buyers guide if you want an overview of the journey to your first home. ) [1669] => stdClass Object ( [post_id] => 7091 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Remember, a debt consolidation home loan isn’t available to all borrowers!
Our mortgage brokers work with both banks and specialist lenders. Call us today on 1300 889 743 or enquire online.
) [1670] => stdClass Object ( [post_id] => 67861 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Give Home Loan Experts a call on 1300 889 743 during business hours and we will put you in touch with the next available broker. Or visit any of our web-pages to access Live Chat. ) [1671] => stdClass Object ( [post_id] => 19703 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Let me be clear: we’re mortgage brokers not buyers agents. However, we can guide you through the process of buying a home.
If you would like to apply for a home loan, call one of our expert mortgage brokers on 1300 889 743 or complete our free assessment form today!
) [1672] => stdClass Object ( [post_id] => 47596 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => The siblings were elated with joy when they found out they were approved. They bought a beautiful 3-bedroom house in Mickleham (VIC) which featured a separate second living area. If you need a mortgage broker to go above and beyond to get your mortgage approved, Home Loan Experts broker Nirayu Shakya is a great bet. Give us a call on 1300 889 743 or fill in our free online assessment form to find out if you can qualify for a home loan with bad credit. ) [1673] => stdClass Object ( [post_id] => 53040 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Our mortgage brokers will work with you to get the best deal on your home loan.Enquire online or call us on 1300 889 743 to find the lender right for your low doc loan!
We'll help you choose a competitive loan from our panel of specialist low doc lenders.
) [1675] => stdClass Object ( [post_id] => 70738 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Do not hold off your plans to buy a property if you’re ready. Our mortgage brokers are here to help you. Call us on 1300 889 743 or enquire online.
The portion of income required to service rent
The portion of income required to service rent increased to 30.6%. This was up from 29.8% in December 2021 and 28.5% in the March 2020 quarter. Rent values increased substantially due to strong rental demand and lower supply.) [1676] => stdClass Object ( [post_id] => 8049 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Those in the military who have both a high rank and salary may be eligible for a Defence Housing loan.
This is an excellent way for defence force personnel to own their first home as the loans are available at a heavily discounted rate!
This government initiated loan is available through the Defence Housing credit union that has an agreement with one of the major banks.
Can I get a second mortgage on my Defence Housing loan?
Yes! We know major lenders that will allow you to take out a second mortgage, behind your Defence Housing loan.
You may be eligible to borrow up to 95% of the property value! Call us today on 1300 889 743 or enquire online to find out how you can get approval for a second mortgage with one of the major lenders.
What departments are there in the Defence Force?
Employees of the Defence Force Australia take on various duties and roles to support and build vital infrastructure.
Some officers may be involved in actual military operations. Others may simply be monitoring systems, or providing health care or hospitality to those serving in the army.
If you've been enlisted to combat, develop intelligence or assist in supporting the armed forces, you may be a part of the:
What kind of people work in the Defence Force?
Being part of the Defence Force is about more than just being a soldier or sailor!
Australian Defence Force personnel who are posted around Australia or overseas take on a variety of roles ranging from providing legal assistance to implementing military equipment.
The Defence Force typically employs people from the following disciplines to work on their bases:
Short term or long term posting?
If you're serving in the Australian Defence Force (ADF), your posting may be considered long-term if you're working overseas for over six months.
In this case, you may be entitled to receive many attractive benefits and allowances.
These aim to help with the cost of relocating and setting up residence overseas, as well as compensating for any undue hardship experienced whilst being posted.
You may also be eligible for a home loan subsidy, depending on your level and length of service.
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Acting as a guarantor is a big decision, so it’s recommended that you and your child seek independent financial advice.
You should really think about whether you're in a position to help. Be honest!
Yes, a guarantor loan is a safeguard and a vehicle for getting your son or daughter into the property market sooner, but a home loan is not a debt to be taken on lightly.
Call one of our guarantor loan specialists on 1300 889 743 or complete our free assessment form to find out whether you’re eligible for this type of home loan arrangement.
Remember, there are other no deposit home loan options out there that may work better for you and your child.
) [1678] => stdClass Object ( [post_id] => 53673 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Our mortgage brokers are working from home for their safety. Nevertheless, they will be working consistently to help our customers.
Our team is constantly monitoring the position of lenders to ensure we avoid the lenders that are unable to approve loans during this time.
Email your Home Loan Experts mortgage broker, call us at 1300 889 743 or fill in our free assessment form if you’d like our assistance.
) [1679] => stdClass Object ( [post_id] => 32892 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Yes, there is! Some lenders don't have SMSF loan liquidity requirements at all.
In other cases, you need to a bit of creativity to get away with it, including:
Lower your borrowing
The lower your Loan to Value Ratio (LVR), the lower the risk for lenders. If you're borrowing less than 70% of the property value, some lenders may waive this requirement altogether.
That's because, at this level, the rent covers most of the actual mortgage repayments.
Having strong serviceability
If you have a good income, have a stable job and not borrowing a large amount relative to your income, some banks may drop their liquidity requirement.
Having a strong cash flow
If you have a strong cash flow by way of high rent relative to your mortgage, then the banks aren't worried that you're going to run out of money.
Having a strong backup plan
Are you in a position to sell another asset or make extra SMSF contributions if your fund is short of cash?
We know lenders who may drop their liquidity requirements if you meet their lending criteria. Please call us on 1300 889 743 or fill in our free assessment form to speak to a mortgage broker to find out.
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Investec’s Australian professional banking business was sold for around $440 million back in April.
According to Investec, the deal would allow the business to focus on its core strengths across corporate and institutional banking, property funds management and investment banking.
Included in the sell-off was Investec’s Professional Finance business which specialised in providing financial products and services to medical and accounting professionals.
At Home Loan Experts, we not only secure competitive pricing for doctors and accountants but dentists, optometrists, pharmacists, mining engineers and lawyers as well.
Our mortgage brokers are not only credit experts but they’ve been trained in various property investment strategies and many of them have significant portfolios themselves. We can ensure that your mortgage matches the goals you want to achieve.
Also, unlike other specialist mortgage brokers that charge exorbitant fees, our services are usually free. Please see our fee schedule for a full list of circumstances where a fee may be charged by our brokerage.
Speak to one of our senior mortgage brokers today by calling 1300 889 743 or by filling in our free assessment form to find out how we can not only help secure you a competitive home loan but also support your strategy over the long term.
) [1681] => stdClass Object ( [post_id] => 78574 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => If you're worried about the impact of rising interest rates on your home loan, take steps now to protect your finances and stay on track with your mortgage repayments. Our experienced Home Loan Experts can assist you with refinancing options, potentially lowering your interest rate and monthly payments, consolidating debts, or accessing equity in your home. Contact us at 1300 889 743. Don’t have time for a call? No problem! Fill out our free online assessment form to get started! ) [1682] => stdClass Object ( [post_id] => 28441 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Once the property share loan is approved by your bank, you can choose to set up your loan facility as you wish (based on your eligibility for particular home loan features), including choosing a professional or basic package, choosing to fix your interest rate or not or choosing to have a 100% offset account.
While each party can choose the payment schedule that fits their needs (fortnightly or monthly repayments), each loan facility must have the same loan period i.e. one of the loan facilities can’t be for 20 years and the other for 30 years.
In addition, there can be only a maximum of two loan facilities on one property, although each facility can have multiple borrowers. Here are some things to keep in mind:
Call us on 1300 889 743 or complete our free online assessment form today and we can let you know if you qualify.
) [1683] => stdClass Object ( [post_id] => 71571 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => *Results from Home Loan Experts’ LMI calculator, based on a new purchase of a home as a primary place of residence in the state of New South Wales.Our expert mortgage brokers know which lenders will waive LMI for you. Contact us at 1300 889 743 or fill in our online assessment form and we will help you find the perfect home loan.
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Whether you are a first home buyer, already have a home loan for your owner occupied dwelling or are a property investor, you can fix your interest for a term of one year today.
Enquire online or call us on 1300 889 743 to find out how we can help you get the best fixed interest rate around.
) [1685] => stdClass Object ( [post_id] => 13512 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Disclaimer Over the next few days, you’ll receive additional guides to help you on your homebuying journey. Occasionally, you’ll receive carefully curated home-buying tips, offers & schemes, and news articles. You can unsubscribe any time you want. View our Privacy Policy
The income from your last job
Have you just started your new business? If so then one of our lenders may be able to use the income from your most recent job.
As a general rule, you must meet the following criteria:
The idea behind this method of verifying your income is that you are already experienced in this line of work and you could always go back to working for someone else if your business didn't make much money.
Did you have a high paying job before you started your business?
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will see if we can help you get approved.
Is this a low doc or full doc loan?
Since you are not providing current income evidence for your business, this is considered as a low doc loan.
Who can use this method?
This is ideal for a professional such as an accountant, lawyer, or other white collar workers who have gone out and started their own business.
How much can I borrow?
You can borrow a maximum of 80% of the property value.
No income evidence
If you cannot prove your income at all, you can consider applying for a no doc loan. This is only available for loans that are not regulated by the National Consumer Credit Protection (NCCP) act.
Please refer to our no doc page for the full qualifying criteria.
Apply for a home loan
There are several methods that you can use to verify your income!
Please call us on 1300 889 743 or enquire on our website and one of our mortgage brokers will assess your situation and find the best solution for you to get approved for your mortgage.
) [1686] => stdClass Object ( [post_id] => 31086 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Our mortgage brokers are commercial loan experts and can help you find the right lender for your situation. Discover how we can tailor your Grill'd franchise loan to your personal and business requirements. Call us on 1300 889 743 or complete our free assessment form today.
) [1687] => stdClass Object ( [post_id] => 68346 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Since banks can be quite conservative and turn down people who have minor blemishes on their credit file or were not employed for a long period, private lenders can help. However, at Home Loan Experts, we know lenders who take a commonsense approach to lending. Even if you’ve been in your job for less than a year or there are some defaults on your credit file, we can help you get approved with a bank. Call us on 1300 889 743 or enquire online. Remember, for most borrowers, private lenders should be the last resort, if you can’t get approved by banks or specialist lenders.
Is Private Lending Safe?
Yes. Contrary to popular belief, private lending in Australia is safe, as they’re governed by the laws and practices used to govern banks. Also, you can work with a reputable mortgage broker to weed out any shady dealers and find private lenders who are safe and legitimate.How Much Does A Private Lender Charge?
Private lenders usually charge the same fees as traditional lenders. So the expenses involved include application fees, valuation fees, legal fees and loan establishment fees. However, since their interest rates are high, private home loans are expensive. Their interest rates start from 6% and the interest charged depends on the loan amount and how much you’re looking to borrow.How Does A Private Mortgage Work?
The private lender provides the funds to the borrower based on the borrower’s security. The lender will check the security provided and decide how the loan is to be repaid. The lender usually uses a conservative valuation of the property, in case the borrower fails to repay the loan on time and they need to sell it. The set time is usually less than 2 years, at a fixed interest rate. ) [1688] => stdClass Object ( [post_id] => 58263 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Whether you’re a first home buyer or a seasoned property investor, our mortgage brokers are here to help. We stay updated with the interest rates of over 50 lenders we have on our panel. Talk to our mortgage brokers today. Call us on 1300 889 743 or fill in our free assessment form. ) [1689] => stdClass Object ( [post_id] => 31249 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>How high are the interest rates?
The interest rates on no doc business loans tend to be higher than low doc or full doc loans.
However, much of it will depend on the amount of risk your application is to the lender. This includes the lender you choose, your security property and your credit history.
No doc interest rates aren't usually published and can usually be obtained on application. As a reference, you can expect most lenders to charge a rate of 7% to 11% p.a. depending on your application.
Please note that interest rates aren't always consistent among lenders. This is why applying with the right lender is very important.
Acceptable securities for no doc business loans
Lenders are generally very particular when it comes to the security property for a no doc business loan. This is because the lender relies solely on the security for the mortgage.
Your security property will likely be accepted as long as it's:
Lenders prefer investment properties with a current lease in place. Properties occupied by your business will be assessed on a case by case basis.
Our mortgage brokers are specialists in no doc business loans. We know what property types are accepted and can help you qualify for a no doc mortgage. We can also help you apply with the right lender.
Call us on 1300 889 743 or complete our free online assessment form to speak with one of our credit specialists.
) [1690] => stdClass Object ( [post_id] => 57585 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Ask the following questions before you decide to refinance:
If you've answered mostly yes to these questions, then you could move ahead with refinancing your mortgage.
Our mortgage brokers are here to help you refinance your home loan. Call us on 1300 889 743 or fill in our free assessment form.
) [1691] => stdClass Object ( [post_id] => 60110 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Her offer on the house was accepted and the settlement date has been fixed. She is now awaiting settlement. Do you want us to help you get the most suitable home loan deal for your first home? Call us on 1300 889 743 or fill in our free assessment form and one of our specialist mortgage brokers will get back to you right away. ) [1692] => stdClass Object ( [post_id] => 69933 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Since the pandemic hit in March 2020, housing values have risen 24.6%, which has added $144,000 to the value of the average home.
However, these factors have significantly eased the growth rate in housing values:
Australia's housing market is not expected to suffer a sudden downturn, though. Open borders will support housing demand. CoreLogic expects strong rental demand in the inner cities popular with foreign arrivals and students.
It should still be some time before interest rates start rising, which gives potential home buyers some leeway.
Do you need to get approved for a home loan? We’re here to help. Call us on 1300 889 743 or enquire online today.
) [1693] => stdClass Object ( [post_id] => 57983 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>At Home Loan Experts, we have over 50 lenders on our panel.
Our mortgage brokers know the lending policies of each of these lenders and can help you find a home loan that suits your needs.
Are you looking to get pre-approved for a home loan?
Call us on 1300 889 743 or fill in our free assessment form.
Did you know that most banks set people up with Line of Credit equity loans even though they are difficult to manage and more expensive? Although we've listed below the common loan products people use when releasing equity we actually believe that in most cases a 100% offset home loan would be more suitable.
If you need help choosing the right equity home loan then please call us on 1300 889 743 or enquire online to discuss your situation with one of our specialist mortgage brokers.
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Before the introduction of comprehensive credit reporting or positive credit reporting, your credit file operated under a negative information sphere, where it mostly only reported adverse credit events such as defaults and judgments.
Starting from 1 July 2018, lenders are now mandated by law to provide additional information which appears on your credit file under the heading Consumer Credit Liability Information.
It includes:
It gives a fairer, more accurate picture of your credit-worthiness as a borrower and supports responsible lending practices.
Late payments under 60 days can be found under the Consumer Credit Liability Information section of your credit report, while default information is found in the Overdue Accounts section.
Do you qualify for a bad credit score home loan?
We take a common sense approach when it comes to bad credit scores.
We understand that life events such as loss of employment, divorce, illness or one-off events can adversely affect your credit file resulting in bad credit.
However, it does not automatically mean you’re an unreliable borrower.
Give us a call on 1300 889 743 or fill in our online assessment form so we can find the right home loan solution for you.
) [1696] => stdClass Object ( [post_id] => 35507 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Purpose-built or an easy conversion
Most lenders prefer lending against standard commercial properties such as warehouses, factories, retail shops and office units.
Luckily, showrooms are largely considered to be in the same category as warehouses.
In saying that, if it's purpose-built, such as a car showroom or one with specialty-built loading docks, you'll have a harder time getting approved or borrowing the amount you need.
That's because it limits the potential market of buyers and represents are a large risk to the bank if they had to sell the property in the event of default.
A mixed use showroom means the property can be used for commercial, industrial, retail or residential purposes.
Location
Showrooms are for businesses looking to attract either retail customers or wholesale buyers.
Because of that, banks prefer businesses that are:
Banks have a lot of property market data so they will be looking at the vacancy rates in the area for the property that you're buying.
Zoning
Although it goes hand in hand with location, zoning can legally restrict the type of businesses that can operate in the showroom.
Zoning will not only vary from state to state but from council to council.
For example, some industrial zones will only allow you to store certain types of material, specifically, items that won’t compromise the long-term use of the land.
What may be considered a high impact industrial zone is when a potential tenant is planning to store chemicals like oil or fertilisers.
As a general rule, if you're planning to buy a freehold showroom with an existing tenant that's involved in activities that may affect the local environment, lenders want to steer clear.
Please call us on 1300 889 743 or complete our free assessment form and we can let you know if you qualify for a showroom commercial loan.
) [1697] => stdClass Object ( [post_id] => 79949 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Looking beyond the immediate horizon, Hemmings provides a thoughtful perspective on the RBA's future actions. He notes, "Unless there is a shock to the system and inflation starts heading in the wrong direction, I think the Reserve Bank will hold for some time on changing the cash rate. If inflation continues to improve, the need to increase rates will be reduced. However, we are already seeing property prices increase in the two largest markets, the Reserve Bank will be nervous about decreasing the cash rate and overheating the market."
As the RBA's decision date draws nearer, we are committed to monitoring the ever-evolving economic landscape. Our goal is to keep homeowners and potential buyers well-informed about the changing financial environment, ensuring that everyone can navigate the uncertain waters of today's economic climate with confidence.
At Home Loan Experts, we care about how the cash rate decision can affect you. We’re here to help. Call us on 1300 889 743 or complete our free online assessment form.
) [1698] => stdClass Object ( [post_id] => 51254 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>When making one of the major life decisions, you want credit experts on your side, and that's exactly who we are as mortgage brokers - credit experts first and foremost.
More importantly, regardless of the language you prefer, we can usually find you a solution.
To speak with one of our mortgage brokers, give us a call on 1300 889 743 or fill in our short online assessment form.
) [1699] => stdClass Object ( [post_id] => 65821 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Most applicants are tempted to lie on their mortgage application because they assume their financial status makes them ineligible for the loan. They assume conditions such as bad credit, unusual employment, existing debts and having low-doc employment and income can lower the lender’s perception of their repayment ability.
While it is true that applicants with conditions like these might have a longer and more difficult time getting their loans approved, that does not mean they will not be able to get a loan. Lenders have varying standards for deciding who qualifies for a loan and who doesn’t. Even if one lender rejects an application, there are plenty others who will gladly accept the same application. It is just a matter of matching with the right lender and providing the required documentation. This is exactly what our expert mortgage brokers at Home Loan Experts are here for.
Call us at 1300 889 743 or fill out our free enquiry form so we can help you get your hands on your dream home, the right way.
[wbcr_snippet id="73076"] ) [1700] => stdClass Object ( [post_id] => 35000 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Your OPSM franchise loan, like other business finance solutions, will be assessed on its merits. The best thing you can do is provide us with your most up-to-date financial statements, depending on your current situation:Want to buy your own optometry practice instead?
So you've thought about and you really have you heart set on starting your own practice? We can help you with finance! By choosing the right lender, you may be able to:) [1701] => stdClass Object ( [post_id] => 23243 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => It's worth noting that 100% no LMI home loans for physiotherapists used to be available pre-COVID,-19 but since then lenders have reduced it to 90% of the property value. Nonetheless, for regular home loan customers, borrowing more than 80% of the property value means the lender will charge them a mortgage insurance premium. How much does it cost? With some lenders, it can work out to be around $24,000 when borrowing 90% of the property value on a $1,000,000 property. As an eligible physiotherapist, you can save up to $24,000 in LMI fees. The fact is, if you have no deposit, and no guarantor to mitigate the risk, you would normally be declined for a home loan. Because of your professional status, you can avoid the cost of mortgage insurance completely. You’ll save thousands in upfront costs, allowing you to put that money to work growing your property portfolio or buying the home of your dreams. To give you a clearer idea of how much you'll save, input the amount of your deposit and the value of the property you want to buy in the LMI calculator. Call our mortgage brokers on 1300 889 743 or fill in our free assessment form and we can let you know how much you can save. ) [1702] => stdClass Object ( [post_id] => 43805 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => One of the biggest costs overlooked is the impact of interest only rate loadings. These loadings can be anywhere between 0.10 to 2.00 percentage points above what you would normally pay for an investment loan. Investment loans themselves are already around 1.00 percentage points above standard home loan rates. For example, if your investment loan rate is 4.10%, opting for a 5-year interest only term would see you potentially paying 5.10% per annum. On a $500,000 home loan, you would be paying $2,125 per month in interest for the first 5 years compared to $1,708.33 per month for the first 5 years with no loading. Some lenders are sharper than others when it comes to interest only rate loadings! Call us on 1300 889 743 or fill in our online enquiry form to discover how much you could save by choosing the right lender. Also, try out the interest rate calculator to give you an idea of whether interest only matches your financial goals.
Does the loading apply to homeowners?
What if you're not buying an investment property and purchasing a home to live in instead? An interest only loading will still apply and it will actually be the same as it is for an investment loan.Can I avoid interest only rate loadings?
Not entirely but the gap does narrow when the property market is strong and the Australian Prudential Regulation Authority (APRA) has confidence in bank lending standards. During times when regulators crack down on investment and interest only lending, we find that select second-tier lenders on our panel offer cheaper interest only loans and loadings compared to major banks. You'll not only save thousands but you'll be able to borrow more because you won't be subject to such large interest buffers that can limit your borrowing ability. ) [1703] => stdClass Object ( [post_id] => 58156 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Where possible, it is a good idea to only borrow up to 80% of the property value so you can avoid Lenders Mortgage Insurance fees. In which case, you’d require a 20% deposit plus funds to cover property purchasing costs such as stamp duty, legal fees, bank fees etc.
However, we understand that saving up a 20% deposit is not always possible.
So, if you were borrowing the maximum available that is 90% of the property value, then you’d only require a minimum deposit of 10% of the property value plus funds to cover costs.
In this case, Lenders Mortgage Insurance will apply. You can use our LMI calculator to work out the cost of LMI.
Speak with one of our award-winning mortgage brokers to find out if you qualify for a 494 visa home loan by giving us a call on 1300 889 743 or by completing our free assessment form.
) [1704] => stdClass Object ( [post_id] => 35391 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => We are paid by the banks for introducing loan applications and for doing some of the work that would otherwise be completed by one of their staff. As a result we do not need to charge a fee for most loans. However there are a few exceptions. We may charge a brokerage fee in the following situations:
) [1705] => stdClass Object ( [post_id] => 63730 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Data accurate as of May 21, 2021
These rising interest rates indicate that the banks anticipate a rise in the cost of funding with the new bond period beginning in a few months
Even with the RBA holding out the cash rate of 0.1%, the banks have begun independently increasing their interest rates for the longer term. Experts think that interest rates may yet again be adjusted in a couple of months.
So what does it mean for the borrower?
Even with a minor increase in the interest rate, you’ll pay thousands of dollars more over the life of the loan.
So, taking advantage of existing low fixed interest rates before the cost of all longer-term fixed rates goes up could be your best solution.
To find what options you have, please give us a call on 1300 889 743 or fill in our free assessment form. You can discuss the available options in detail with one of our specialist mortgage brokers.
) [1706] => stdClass Object ( [post_id] => 74500 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>There is no right time to buy a home for everyone. Make an informed decision about when is the best time for you. Falling property prices may entice homebuyers to purchase, but increasing interest rates may cause hesitation. So, should you buy or wait? Everyone's situation is different, so it would be best to contact a mortgage broker and share your situation to make an informed decision. Feel free to call us on 1300 889 743 or enquire online to talk to one of our expert brokers today!
) [1707] => stdClass Object ( [post_id] => 57509 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Any changes to responsible lending regulations will not change the way we deal with customers, we will always make sure any loan we recommended is right for the customer and that they can afford any new loan. If anything any changes may speed up the process.
Get started on your homeownership journey with Home Loan Experts.
Our award-winning mortgage brokers are here to help. Call us on 1300 889 743 or fill in our free assessment form.
) [1708] => stdClass Object ( [post_id] => 24357 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The LVR is only one part of what the banks will assess as part of your application so talk to a mortgage broker who can size up your entire situation and present a good case to the lender.
Call us today on 1300 889 743 or complete our free assessment form and we can tell you what your borrowing options are.
) [1709] => stdClass Object ( [post_id] => 69462 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Out of several factors that can change the interest rate, the most important are monetary policy, fiscal policy, economic growth, and the cash rate. These are determined by the Reserve Bank of Australia (RBA).
There are other factors that affect the interest rate that the RBA has little control over:
Contact our specialist mortgage brokers at 1300 889 743 or fill in our online assessment form and we will help you find the perfect loan.
) [1710] => stdClass Object ( [post_id] => 59607 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
There aren’t many options if you’re self-employed and have no tax returns to prove your income.
The majority of lenders require you to be self-employed for at least two to three years.
This can be an issue especially if you’ve recently moved to Australia before applying for a home loan.
However, a handful of lenders will consider people who have been self-employed for only one year.
Note: A low doc home loan is an option for self-employed applicants but lenders require at least 6 months ABN registration i.e. they should be in business for at least 6 months before considering a low-doc loan.
One of our specialist lenders might be able to help you by looking at your income from your last job as proof of affordability.
Please call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or fill in our free assessment form to check with one of our mortgage brokers.
) [1711] => stdClass Object ( [post_id] => 1362 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
The secret to borrowing a little bit more than 95%…
This option is only viable for people with a high income.
One of our lenders allows you to apply for an additional loan facility with a limit of up to $20,000 along with your 95% home loan!
The funds from this additional loan can be used at settlement for costs such as stamp duty and conveyancing fees just like the funds from the home loan.
The catch is that you must have 5% of the purchase price saved in a bank account to pay your deposit and qualify for the home loan.
The interest rate is the same as the home loan, however you are required to pay off the loan quickly so the repayments are relatively high.
With the additional loan and capitalised mortgage insurance, the total loan is often over 100% of the purchase price!
This is a great option for second home buyers who have 5% in genuine savings, yet don’t have the funds to cover the stamp duty and other purchasing costs.
Not all lenders offer 95% loans
Australian lenders consider all loans over 80% of the purchase price to be a high risk. Because of this, they insure these loans with Lenders Mortgage Insurance (LMI).
LMI providers have their own lending guidelines that are stricter than those used by the banks so it’s harder to get approved.
In addition to this, lenders only have so much money to lend out. They want to maximise their profit while keeping risks under control. 95% home loans are a high risk so most of their available funds are allocated to less risky loans.
In short, lenders pick and choose who they approve for 95% loans.
Are you eligible for a 95% loan?
Call us on 1300 889 743 or complete our free assessment form to find out!
) [1712] => stdClass Object ( [post_id] => 1352 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
You can apply for a genuine savings loan if you have a 5% deposit that is coming from one of these sources:
You can apply for a no genuine savings loan if your deposit comes from one of these sources:
It's all very complicated!
Call us on 1300 889 743 or enquire for free online to speak to a specialist mortgage broker about your situation.
) [1713] => stdClass Object ( [post_id] => 49669 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Dr Clarence and her family have already moved into their new home.
Our brokers specialise in doctor home loans and can help clients like Dr Clarence get the amount they need with the LMI waived.
Are you looking for a waived LMI home loan?
Give us a call on 1300 889 743 or fill in our free online assessment form to find out if you can qualify for a waived LMI home loan.
) [1714] => stdClass Object ( [post_id] => 3674 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The Queensland Affordable Housing Consortium (QAHC), Providence Housing Pty Ltd and the Brisbane Housing Company (BHC) are currently the only "head lease" NRAS schemes that are accepted.
The QAHC and BHC:
NRAS properties administered by the QAHC and BHC are rented at 25% below the market rental rate.
Other consortium providers currently have restrictions which the banks find unacceptable for mortgage purposes or the banks have not yet investigated and approved for residential lending.
Do you need help to apply for a NRAS mortgage?
Please enquire online or call us on 1300 889 743 and speak to one of our specialist mortgage brokers today!
) [1715] => stdClass Object ( [post_id] => 84672 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Our experienced brokers understand the complexities of refinancing and can help you achieve your financial goals. We'll guide you through the process, ensuring you get the best possible loan options.
Call us on 1300 889 743 or complete our free online assessment form. Let's explore your possibilities together.
) [1716] => stdClass Object ( [post_id] => 1475 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not all lenders require that you to be in your job for more than a year. In fact, many lenders understand that younger generations are in high demand, are highly skilled and are career opportunists that actively change jobs to seek a higher salary or better working conditions.
To find out which lenders can help to you, please call us on 1300 889 743 or free assessment form today.
) [1717] => stdClass Object ( [post_id] => 33639 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
By speaking to a mortgage broker that specialises in cafe finance, we can help you borrow up to the maximum Loan to Value Ratio (LVR) based on your situation.
Home Loan Experts has access to almost 40 lenders and strong relationships with their commercial relationship managers.
Because of this, we're in a strong position to negotiate reduced interest rates on your behalf.
Call us on 1300 889 743 or fill in our online enquiry form today.
) [1718] => stdClass Object ( [post_id] => 60010 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>You and your mortgage broker need to work together transparently to figure out what’s the best home loan option.
Asking the right questions will put you in front of your situation.
If you’re thinking about getting a home loan, speak with one of our mortgage brokers by calling us on 1300 889 743 or filling in our free online assessment form.
[wbcr_snippet id="73161"] ) [1719] => stdClass Object ( [post_id] => 45034 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Find out how much you can borrow with a group title home loan.
We're experts in getting home loan approvals for unusual property types that aren't always accepted by mainstream lenders.
Speak with one of our group title home loan specialists by calling us on 1300 889 743 or by completing our online enquiry form today.
[wbcr_snippet id="73591"] ) [1720] => stdClass Object ( [post_id] => 7850 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
However, there are some lenders that allow you to retain full flexibility with a fixed rate loan.
Please call us on 1300 889 743 or fill in our online enquiry form and mortgage brokers can help you choose the right home loan product for you.
) [1721] => stdClass Object ( [post_id] => 27508 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Commercial lenders will generally require you to have at least 1.1 to 1.4 times the amount of income to proposed interest expenses. This can include a residential property that you own, which you can use as security for the commercial loan.
Coupled with a strong income and asset position, we may be able to get you qualified for a factory loan even if you have a bad credit history. Conditions apply so please speak with a specialist mortgage broker about your situation.
If you’re simply purchasing the freehold (the property and land itself), then banks will simply want to see that you can afford to pay back the loan.
For business owners looking to purchase a factory as a means of expanding their business, that is, moving your business into the factory, the bank will usually want to see:
SWOT analysis
If you’re buying the freehold as a going concern, the bank will assess your business plan carefully, typically by means of a SWOT analysis, an acronym for Strengths, Weakness, Opportunities and Threats.
Although it works differently from lender to lender, a SWOT analysis for a factory may look something like this:
Strengths: For example, you have a substantial history of working in a factory, preferably in a managerial or corporate position, in the same industry.
Weaknesses: This refers to the weak aspects of your application such as having little to no experience in the industry and/or in running a factory operation.
Opportunities: This comes down to the industry you’re in. For example, today, there is a need for high-tech production like mining equipment, biomaterials and aerospace technology than compared to heavy industrial work.
Threats: This refers to external factors that are largely out of your control such as running a boutique manufacturer that makes products like furniture or jewelry. It's common to be under threat by small factories or overseas manufacturers that decide to mass-replicate your product.
The bank wants to see that you can stay profitable and we can help you present a strong case!
Call 1300 889 743 or complete our free assessment form to speak with a factory loan specialist today.
What security can I use for a factory loan?
) [1722] => stdClass Object ( [post_id] => 30595 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
The guarantor is ultimately liable for the part of the loan they have guaranteed.
If the person they have guaranteed fails to meet their loan obligations and defaults, the guarantor will be responsible for the amount they have guaranteed.
This can put them at a great risk depending on the amount of assets or exposure they have on the mortgage.
What will the guarantor be liable for?
The guarantors are usually parents helping their adult child buy a home or a close family member who knows the borrower.
On paper, a guarantor's responsibilities are quite significant since they would ultimately be responsible for paying off your mortgage in the event that you default.
Can I limit the size of the guarantee?
The guarantor can choose to limit the size of the guarantee using a limited guarantee. This means that you're only liable for up to an amount agreed upon by you and the lender.
For instance, if the size of the loan is $500,000 and your limited guarantee is for only $150,000 then you're only liable to cover up to $150,000, which is the agreed amount.
Of course, if the property is sold for $500,000, you won't have to worry about anything. However, if the property is sold for $300,000, you'll only be liable for the limited guarantee of $150,000 and not for the remaining $50,000.
On the other hand, if it sells for $400,000 then you'll only be liable for $100,000, not the entire amount that was guaranteed.
You can call us on 1300 889 743 or fill in our free online assessment form to speak with our mortgage brokers for more information on a guarantor's responsibilities.
What if I can’t cover the guaranteed amount?
If you can't cover the outstanding debt with your equity or don't have enough savings to cover the amount, then you might want to consider getting:
Usually, banks will do everything they can to avoid selling the guarantor's home. For example, they can lower your repayments until you're able to make full payments.
If every option has been exhausted, then they'll have no choice but to sell your home. However, they will only take the amount required to cover the home loan up to your limited guarantee.
The remaining proceeds will go back to you.
It's recommended that you don't enter into a guarantor arrangement if you have concerns about the borrower's responsibility or financial situation.
) [1723] => stdClass Object ( [post_id] => 78193 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => The bottom line is that your situation will dictate the best way for you to handle NSW Stamp Duty reform. If you’re still not sure – or if you've made a choice and you’re ready to start your buying journey – call us on 1300 889 743 or fill out our free online assessment form to speak with one of our Home Loan Experts today! ) [1724] => stdClass Object ( [post_id] => 47132 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Michelle moved out of her parents’ house and into her brand new apartment.
She still works for RSPCA WA and enjoys nothing more than caring for animals.
Let us help you achieve your home buying dreams like we helped Michelle.
We're experts at assisting people with unusual employment including those with casual jobs.
Call us on 1300 889 743 or fill in our free assessment form to start your home buying journey today.
) [1725] => stdClass Object ( [post_id] => 36772 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>If you need a line of credit facility to manage your cash flow or embark on the next growth stage of your business, you may be able to avoid a line fee.
By using a residential property as security as opposed to commercial real estate, we may be able to get you approved for a residential LOC as a home loan.
That means you won't be charged a line fee!
The other exception to this rule is if you own a hobby farm.
You may be generating a level of income from your property, but as long as you stay within the bank's allowable thresholds, the property may be assessed as residential property rather than a commercial farm.
In this way you can lend against the value of the property, apply for a LOC and avoid a line fee.
Getting a residential line of credit facility comes down to how we present your application to the bank.
Please call us on 1300 889 743 or fill in our free assessment form to discover what options are available to you.
) [1726] => stdClass Object ( [post_id] => 27611 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Whether you’re a first home buyer taking out a home loan to buy your dream home or you’re looking to refinance an existing home loan, we can help you set up a home loan that’s right for your needs.
How?
We’re credit specialists and our brokers have considerable knowledge on a wide range of home loan products from over 40 lenders all over Australia!
Because of the relationships that we have with the decision-makers at these lenders, we’re often in position to negotiate a competitive interest rate and even get some mortgage fees waived. This comes down to the strength of your application.
Call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers will contact you within 24 hours to discuss your situation.
) [1727] => stdClass Object ( [post_id] => 35730 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>If you're currently on a bridging visa and will soon be receiving your permanent resident (PR) visa, we recommend you wait.
Alternatively, if you can't wait and you're planning to buy with an Australian citizen or PR holder, you may want to consider purchasing in their name.
There are a few reasons why you'll want to consider taking these two options.Getter better home loan deals from more lenders
You'll be eligible to borrow more at better interest rates with a wider range of lenders.
The more lenders you qualify with, the better our negotiating power in saving you thousands with a mortgage that best suits your needs.
Avoid FIRB approval
Temporary residents and 457 visa holders are required to get Foreign Investment Review Board (FIRB) approval.
If you get your PR, or marry someone who has it, you can avoid the cost and hassle of this government approval process.
Avoid foreigner stamp duty surcharge as a 457 visa holder
Under a government move to curb non-resident investing, temporary residents and 457 visa holders planning to buy residential property in New South Wales, Queensland or Victoria will have to pay a stamp duty surcharge.
The surcharge varies anywhere between 3% to 7% of the land value depending on the state and can add tens of thousands of dollars to your purchase
If you're close to getting your PR anyway, you may want to wait so you can avoid the surcharge.
Of course, you can also avoid the surcharge if you buy in the name of an Australian citizen under a spousal visa arrangement.
Your only other option is to simply purchase in a state or territory that doesn't apply a surcharge. At the moment though, the only two locations are Tasmania and Northern Territory so your buying options are limited.
Let us help you to get approved!
In Australia, mortgage brokers are paid by the lender for introducing loans, so you can take advantage of a wide selection of loans from over 40 lenders without it costing you a cent!
We're mortgage brokers who specialise in lending to people living in Australia on a 457 visa or other type of work visa and can quickly find you the most suitable loan.
If you need a mortgage, speak to us on 1300 889 743 or complete our free assessment form and we can help you with your loan application.
Did you know that we have made special arrangements with Australian lenders enabling us to obtain loan approvals for foreign citizens living in Australia? Even if your bank or mortgage broker has declined your application, please call us!
) [1728] => stdClass Object ( [post_id] => 75059 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Ajar knew from the moment he got the case where the areas of improvement could be and helped determine that a low-doc loan was the path to go down. He requested relevant documents like an accountant's declaration of Justin's income and a good exit strategy to strengthen Justin's case to lenders. He made sure to address areas that could be an issue. Justin was grateful to Ajar for getting him out of a pinch by shifting the settlement date. To add the cherry on top, Justin got a prime loan product for both his refinance and investment loan from a specialist lender on our lender panel. He also got $125,000 cash out from his refinance to put towards his new property investment valued at $500,000. This meant he avoided paying Lenders Mortgage Insurance. Justin's Loan Structure: Investment Property Loan: $400,000 LVR and Term: 80%, 30 years Rate: 6.24% Refinance + Equity Cash Out: $460,000 Term: 30 Years Rate: 5.59% There were bumps along the way. With Ajar’s help, Justin was able to transverse smoothly through his refinancing journey and purchase of new property as a two-year self-employed applicant.
Looking to refinance as a Self-Employed candidate? Or feel like you need an expert’s touch to make your application better? Call us at 1300 889 743 or complete our free online assessment form. ) [1729] => stdClass Object ( [post_id] => 57135 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
There is a clear difference in how the housing market reacts where the COVID-19 curve has flattened or peaked, highlighting the broad economic impact of renewed social distancing policies, border closures and weaker consumer sentiment. The spring selling season will be slower than usual. New and total listings are decreasing, and sales activity has slipped by 1.9% in August. While there is no evidence of distressed properties coming on the market, It’s a case of waiting to see what happens once government stimulus ends and lenders do their six-month check-in for borrowers who took repayment holidays. If you're looking to buy your home, our mortgage brokers are here to help. Call us on 1300 889 743 or fill in our free assessment form.
) [1730] => stdClass Object ( [post_id] => 58006 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to our mortgage brokers by calling us on 1300 889 743 or fill in our free assessment form.
) [1731] => stdClass Object ( [post_id] => 55280 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>To reserve a scheme place, you can either apply directly through one of the 27 participating lenders under the Scheme or mortgage brokers accredited with these lenders. Each lender on the panel has its own lending policies which differ greatly between them. Some of the areas where lender policies differ are:
This is crucial as any one of these policies can get your application knocked back! Applying with the right participating lender becomes key in getting approved, and this is where a mortgage broker can help! Another advantage of applying through a broker is that, once we’ve made a scheme place reservation through a particular lender. We can help you shop around with multiple lenders to get a more competitive rate. More importantly, we know which lenders are accepting applications to be put on the waitlist so that your application gets a headstart when the scheme places become available. To reserve a scheme place and find a home loan with a competitive interest rate, speak with one of our award-winning specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form.
) [1732] => stdClass Object ( [post_id] => 7051 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>First home buyers can often borrow close to 100% at normal home loan rates without having to pay a large deposit.
This is because the first home owners grant can often cover the cost of the Lenders Mortgage Insurance (LMI) premium and other costs associated with buying a property such as conveyancer’s fees. Please read our 95% LVR mortgage page for more information.
If you have a mortgage guarantor who will let you use their house as additional security for the loan then you can often borrow as much as 110% of the purchase price without paying any LMI at all!
Often lenders are happy to take a second mortgage as security for a guarantee so it may be ok if your guarantor already has a loan on their property.
For those of you that already own a property there are loans that will allow you to use the equity in your current property as security for your new loan, allowing you to borrow the full amount you need to buy more real estate without the aid of a guarantor.
Wondering whether you will qualify for a home loan? Speak to us on 1300 889 743 or enquire online and we'll get back to you to discuss your situation.
) [1733] => stdClass Object ( [post_id] => 77308 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Home Loan Experts’ specialist mortgage brokers have the expertise to help you navigate the complexities of a falling property market to find the best options for your budget and goals. Our experts can help you make an informed decision. Call us on 1300 889 743 or enquire online for free.
) [1734] => stdClass Object ( [post_id] => 33196 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1735] => stdClass Object ( [post_id] => 54707 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>If your guarantor does not qualify because there is not enough equity left in their property or have other issues, then there are other low deposit home loan options available:
Our mortgage brokers are here to help if you need a guarantor home loan, or you need to explore your home loan options.
Call us at 1300 889 743, or fill in our free assessment form today.
) [1736] => stdClass Object ( [post_id] => 30716 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>What about the size of each room?
Apart from the number of rooms in the boarding house, banks may also restrict the amount you can borrow depending on the size of each room.
If the rooms are less than 40m2, you may be restricted to borrowing 80% of the value of each room or unit.
However, if the rooming house is considerably large, each room may be more than 40m2, in which case you can borrow up to 90% of the property or more if you're in a strong financial position.
You can find out more information on how banks assess unit sizes on the studio apartment home loan page.
How many rooms are there?
Banks are generally more flexible with a boarding house mortgage if the property has 6 rooms or less but what if you're dealing with a larger rooming house?
Some developers build boarding houses with 10, 20 or even 30 individual rooms.
In these cases, the developer owns the building and there isn't a corporation in place to handle maintenance of common areas and insurance of the buildings.
If the the property itself is not a strata title, the banks will assess the boarding house mortgage as multiple units on one title.
Banks are conservative when it comes to multiple units on one title because, again, there is a really small market of investors interested in these types of properties.
As a result, you'll generally be restricted to borrowing up to 70% of the property value with a commercial loan.
Will the bank use projected rental income?
If you're plan is to continue running the property as a boarding house, the bank will generally accept 80% of your proposed rental income when assessing your ability to make mortgage repayments.
This is otherwise known as your serviceability for a boarding house mortgage.
So for a boarding house with 3 large bedrooms charging $200 a week in rent and 2 small bedrooms at $150 a week, the actual rental income would be $900 a week.
The market rent if the property was rented as a standard house with 5 bedrooms would be around $560.
A residential lender will use $560 a week rent in their assessment even if the property is currently generating $900 a week.
They will then use 80% of $560 a week, or $448, to allow for costs such as a property manager, council rates, water rates, insurance and repairs.
Although most banks are strict with the 80% rule, one of our lenders will actually use up to 100% of the proposed rental income for a boarding house!
What if it's a commercial boarding house?
A commercial lender may only use up to 60% of proposed rental income but they may also go up to 100%.
Getting the loan you need with business banking comes down to presenting a strong case.
Speak to a mortgage broker so they can assess your investment plans and line you up with a boarding house mortgage that meets your needs.
Call us on 1300 889 743 or complete our free assessment form today!
Tenant risk
Boarding houses are usually located in low socioeconomic areas and attract tenants and families who earn low incomes or are otherwise in long-term financial hardship due to any number of reasons.
Because of this, there is a risk in the type of clients you are likely to attract and whether they can be relied upon to pay their rent in full and on time.
There may also be associated risks with potential damage to the property and respecting other rules you've set up for the property.
In terms of getting approved for a boarding house mortgage though, banks will only take into account whether the property is what they refer to as 'Metro Plus' or 'Category 1' locations.
These categories are metro and city areas or major regional centres and are generally seen as a lower risk.
Boarding houses outside of these locations may be considered on a case by case basis.
You can find out more information on the postcode location guide page and which lenders don't have location restrictions at all.
) [1737] => stdClass Object ( [post_id] => 26621 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
A standard variable rate home loan may be suitable for you if you:
You can always go for a basic variable rate if you’re borrowing less than $250,000, don’t plan on using any extra features or changing banks.
If you want to secure your mortgage repayments to give you financial security for a specified time, you can choose to go for a fixed rate home loan. Most borrowers choose 3 year and 5 year fixed rate loans.
Can’t decide what to do?
Call us on 1300 889 743 or fill in our free assessment form and one of our specialist brokers can compare home loans for you based on more than just the bank standard variable rate.
) [1738] => stdClass Object ( [post_id] => 2658 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Yes, you can refinance a home loan in arrears.
The refinance might be to a higher interest rate and once you have good repayment history (typically for 1 year), we will refinance to a major lender.
If you have defaults on your credit file, then we may refinance you to a cheaper specialist lender and then to a major lender once your credit history is clear.
It's easier to refinance to a major lender if you can prove a perfect repayment history on your loan and you have clear credit.
Therefore, you're only paying a higher interest rate for a short period of time.
If you have one or two late repayments by a few days, then we might be able to refinance to a major lender with a competitive interest right now.
Please call our mortgage brokers on 1300 889 743 or enquire online to find out how we can help!
) [1739] => stdClass Object ( [post_id] => 54067 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Our mortgage brokers have a strong relationship with many of the banks and lenders.
Our mortgage brokers can help you order a free property valuation with some of our lenders.
Call us on 1300 889 743 or fill in our free assessment form for more information.
) [1740] => stdClass Object ( [post_id] => 20512 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Many new optometry graduates have migrated to Australia to complete their degree.
When they enter the workforce and starting forging their career they are often on a temporary visa which is likely to lead to permanent residency.
Some of our lenders can consider special discounts on a case by case basis if your are a temporary resident.
Very likely though, you'll be able to qualify for 90% no LMI as a 457 visa holder, as opposed to 95% waived LMI.
If you're an optometrist who is on a 457 visa, please give one of our experienced mortgage brokers call to discover what discounts are available to you.
Call 1300 889 743 or complete our free assessment form today.
) [1741] => stdClass Object ( [post_id] => 32716 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1742] => stdClass Object ( [post_id] => 73018 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Not sure which lender is right for you? Talk to one of the mortgage brokers at Home Loan Experts. Call us on 1300 889 743 or complete our free online enquiry form as we need to discuss your situation before finding the best lender options for you. ) [1743] => stdClass Object ( [post_id] => 33030 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which Connective home loan is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1744] => stdClass Object ( [post_id] => 68746 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Rent-to-own schemes have two components: a standard rental agreement and an agreement to buy (which can be optional). Homeowners who want to buy a house through a rent-to-own scheme sign a contract with a seller that allows them to buy the house after the renting period. Most of these plans will demand a deposit, which many homeowners obtain part of by applying for the First Home Owners Grant or the First Home Loan Deposit Scheme. Participants pay rent (typically higher than the market average) and a monthly charge for the right to buy the property at the end of the contract. Some rent-to-buy contracts also include other costs for the buyer, such as building maintenance, stamp duty and insurance. The amount of money paid for the right to buy – which often goes into the tens of thousands – is then usually subtracted from the final sale price. Sometimes, a buyer can arrange to have a portion of the total rent payments deducted from the sale price as well. Example: Let's say you sign a three-year rent-to-own deal with a $600,000 agreed future price and a deposit of $30,000 from your savings plus $20,000 from a First Home Owners Grant. In this case, the landlord may decide to charge you $450 a week in rent (above the average for the area), plus $100 per week for the option to buy the property at the end of the three-year lease. With a year lasting 52 weeks, this means you'll shell out $85,800 during the first three years, including $70,200 in rent and $15,600 in option payments. $450*52*3 = $70,200 $100*52*3 = $15,600 $70,200+$15,600 = $85,800 If the contract indicates that the option payments go toward equity in the house (which is not a given) but none of the rent, you'll need a $534,400 home loan to buy the house at the end of the three-year lease ($600,000 less the $50,000 deposit and $15,600 equity). $600,000 - ($50,000+$15,600) = $600,000 - ($65,600) = $534,400 Once you reach the end of the lease part of the contract, getting a home loan to buy the property works the same as with any other home loan. Before deciding whether or not to approve your application, the bank will check your eligibility against its lending requirements. If you receive approval, the property's title should be transferred to your name as the legal owner once the settlement is finalised. You will then need to make regular repayments until the loan is paid off. Use our mortgage calculators to get a good sense of what to expect from your bank or lender when you rent to buy. If you want to clear up any doubts, call us on 1300 889 743 and we will connect you to our expert brokers.
) [1745] => stdClass Object ( [post_id] => 33035 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Not sure which lender is right for you? Our Home Loan Experts can help! Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form. ) [1746] => stdClass Object ( [post_id] => 35163 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Yes!
Any bank in Australia can submit a tender to the government to secure the contract for the defence housing discounts and it currently sits with three lenders.
We’re experts in getting home loan discounts for ADF members!
As a mortgage broker, we can assess your needs and choose from our panel of nearly 40 lenders to find a great deal on your behalf.
Call us on 1300 889 743 or complete our free assessment form today.
) [1747] => stdClass Object ( [post_id] => 7982 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>How long will the rate lock be in effect?
Each bank has a different time period for rate lock. Some banks will lock the rate in for 60 days, others for three months.
If your loan application is complicated, it is advisable that you lock your rate in for the maximum possible period.
This way you are covered in the event that approval takes longer than anticipated and rates rise in the meantime.
Is there a rate lock fee?
Most lenders will charge you a fee for the rate lock feature. The actual fee amount varies from lender to lender.
Some charge a set fee, whilst others calculate the fee as a percentage based on the amount that you are borrowing.
Below are the fees from some of our lenders:
Free rate lock on your loan!
While some banks will charge you expensive fees to lock your rate in, we know lenders that will do this for free!
Secure your low rate for a period of up to 60 days by speaking to us today on 1300 889 743 or enquire online and our mortgage brokers will get back to you.
Rate locks can be complicated and it’s all about the detail, so contact our expert team.
) [1748] => stdClass Object ( [post_id] => 33040 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1749] => stdClass Object ( [post_id] => 20508 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Which lender has significant home loan discounts for vets?
Find out what is on offer by calling 1300 889 743 or by filling in our free assessment form.
) [1750] => stdClass Object ( [post_id] => 73994 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Are you an expat looking to get a home loan in Australia? Not sure which lender is right for you? Home Loan Experts’ specialist mortgage brokers can help you find the perfect lender. With our extensive experience working with lenders, we can help you narrow down options and find the best deals available for you. Talk to one of our award-winning mortgage brokers by calling us on 1300 889 743 or enquire online today. ) [1751] => stdClass Object ( [post_id] => 19858 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Guarantor loan
When applying for a mortgage with a guarantor, the following information will need to be supplied by your parents (or whoever the guarantor is):Bad credit
For applicants with black marks on their credit file including defaults and judgments, your broker will require the following documents in order to assess your application:Low doc loans
If you can't provide all of the income verification documents usually required for a home loan application, you'll need to provide your broker with:Non-resident documents
Temporary residents will be required to provide:SMSF documents
Purchasing property for your self-managed superannuation fund (SMSF) will require you to provide various tax documents:Companies/trusts
For discretionary, family or unit trusts and companies, the following documents will need to be supplied:) [1752] => stdClass Object ( [post_id] => 33045 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1753] => stdClass Object ( [post_id] => 69167 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Unsure which lender is an ideal fit for your home loan situation?
Our mortgage brokers will assess your situation to recommend a couple of suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1754] => stdClass Object ( [post_id] => 33061 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1755] => stdClass Object ( [post_id] => 32824 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>What are the drawbacks?
In many cases, business owners seek out debt advisors if the company is in significant financial strife, specifically if it's facing the appointment of an administrator, liquidator or bankruptcy trustee.
Essentially, debt advisors tend to work with companies that are desperate. Although debt advisors tend to have a wide selection of funders and private equity firms, you have to really ask whether they stand to make a substantial commission by choosing one funder over another.
If so, they may not have the best interests of your company in mind.
Another thing to keep in mind is that although they are bound by the Corporations Act 2001 and the Bankruptcy Act 1996, many service providers are unregulated and don't have professional qualifications.
This is very different to the rigorous initial and ongoing credit training that mortgage brokers must undergo in order to qualify for an Australian Credit Licence (ACL).
How do I choose a debt advisory?
There are simple steps and rules you can follow to reduce the risks of hiring a dodgy debt advisor:
Want to speak to a commercial broker instead?
Call us on 1300 889 743 or fill in our online enquiry form so one of our experienced mortgage brokers can properly assess your situation and business needs.
Our aim is to find you a lender that will offer you business finance that best suits your needs.
) [1756] => stdClass Object ( [post_id] => 32737 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Compare St George to other lenders
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1757] => stdClass Object ( [post_id] => 33211 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1758] => stdClass Object ( [post_id] => 382 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Non-bank lenders tend to be more conservative with lending to temp and agency employees.
The exception to this would be non-bank or specialist lenders. Hoever, these lenders are more expensive than the rest.
Luckily, a couple of our banks are happy to consider these applications as long as their other home loan criteria are met.
To determine which banks will approve your mortgage, please contact us on 1300 889 743 or complete our free assessment form today.
) [1759] => stdClass Object ( [post_id] => 2301 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Most lenders require:
The banks will then accept the lowest income proven by those three documents.
If you would like an employment letter template, please contact us on 1300 889 743 or enquire online, and our mortgage brokers will provide you with one.
What if I can only provide payslips?
Whilst it's recommended that you aim to supply as many documents as you can, each lender has different guidelines.
Some of our lenders only need two recent payslips and will then use the Year To Date figure on your payslips to calculate your annual gross income.
Please enquire online or call us on 1300 889 743 to speak with a mortgage broker who specialises in lending to people who have overtime income as part of their regular employment package.
You can also use the YTD Calculator on our website to find out how the banks will assess your income.
) [1760] => stdClass Object ( [post_id] => 61728 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
If you’re confused about which lender is the perfect one for you, we’re here to help!
Call us on 1300 889 743 or complete free online assessment form to talk to one of our mortgage brokers at Home Loan Experts.
) [1761] => stdClass Object ( [post_id] => 33075 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which Homeloans Ltd mortgage is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1762] => stdClass Object ( [post_id] => 59614 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Still not sure which lender is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
We will first discuss your situation, complete a pre-assessment and find a couple of suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1763] => stdClass Object ( [post_id] => 51439 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Buying in Sydney can be very fast-paced than buying elsewhere because most properties are sold at auction. Often you’ll have to waive your right to a cooling-off period.
Get pre-approved for a home loan before you start going to auctions or enter into a private sale. Our brokers recommend getting 2 or more pre-approvals as it is very risky to have just one lender who can assist.
Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in on our online assessment form today.
) [1764] => stdClass Object ( [post_id] => 25375 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Some lenders don’t pass on the full rate cut because it can increase the spread between their cost of funds and the interest rate charged to borrowers.
Cost of funds refers to the interest rate paid to depositors on such financial products as savings accounts and term deposits.
The less spread between these two factors, the less profit the lender stands to make which means their shareholders won’t be happy.
If they keep their variable rate where it is, the lenders’ customers won’t be happy.
Lenders are in a constant balancing act of keeping both their customers and shareholders happy. Unfortunately, sometimes their customers lose out.
Want to get a better rate than what your bank is offering?
Call us on 1300 889 743 or complete our free assessment form and discover how we can help you.
) [1765] => stdClass Object ( [post_id] => 33129 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1766] => stdClass Object ( [post_id] => 70271 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our award-winning mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1767] => stdClass Object ( [post_id] => 48821 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Unsure which lender is correct for you?
Our mortgage brokers will first discuss your situation, complete a pre-assessment and then recommend a couple of suitable lender options for you from our panel of almost 40 lenders.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [1768] => stdClass Object ( [post_id] => 48804 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Still not sure which is the right lender for you?
Talk to one of our specialist mortgage brokers at Home Loan Experts.
We’ll first discuss your situation, complete a pre-assessment and find a couple of suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form. ) [1769] => stdClass Object ( [post_id] => 33174 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1770] => stdClass Object ( [post_id] => 33106 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1771] => stdClass Object ( [post_id] => 35208 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Rabobank may specialise in agribusiness and commercial farm loans but it doesn't mean you can't get a better deal by shopping around with other lenders and banks.
A mortgage broker can compare lenders on your behalf!
We have a range of lenders to choose from and we specialise in farm loans so give us a call on 1300 889 743 or complete our free assessment form to find out how we can help you.
) [1772] => stdClass Object ( [post_id] => 33203 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1773] => stdClass Object ( [post_id] => 44780 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Fixing your interest rate is not generally a good idea if:
Check out our complete guide on fixed versus variable.
Should I Refinance To Interest Only Payments?
Whether you're currently making interest only (IO) payments on your home loan or not, does it always make sense to refinance to interest only?
It depends on your investment strategy and the market.
In an environment where variable rates are lower than fixed rates, you're typically better off choosing an interest only term and building up your offset account balance to maintain stable cash flow.
The capital management benefits are significant if you want to continue to grow your property portfolio or you're pursuing a property flipping strategy and need funds for renovation work.
However, refinancing to interest only rather than principal and interest (P&I) repayments may not be the best approach if you want to be in a positively-geared position in the short-term.
It's essential that you seek professional advice from a qualified account to consider what your financial goals are.
After that, give us a call on 1300 889 743 or fill in our online enquiry form and we can let you know if you qualify for an interest-only investment loan.
) [1774] => stdClass Object ( [post_id] => 17541 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
What Type Of Ownership Will You Have?
For couples, you will need to decide on the type of ownership for the property. This will be stipulated on the documents that your conveyancer gives to the state government to transfer the property into your names.
There are three types of ownership:
You should discuss these options with your conveyancer or solicitor.
Time To Sign The Loan Offer
After formal approval, it will take around a week for you to receive the loan offer documents from the bank. The loan offer is the contract between you and the bank with details such as the loan amount, interest rate and repayments.
You can go through your loan offer with your mortgage broker or you can seek independent legal advice by taking the contract to a solicitor to be reviewed.
Sometimes banks make errors in the loan offer which need to be fixed before the loan funds are advanced. The most common mistakes are the spelling of your names or the address of the property that you are buying. Less common mistakes include the interest rate discount or the fees applicable to your loan. If you notice a mistake then let your mortgage broker know right away.
Make sure that you sign and return the loan offer promptly to avoid delays in your settlement! Although it normally takes a few days for the bank to process your loan offer when it is returned, during busy periods it can take up to a couple of weeks.
You may need to include some additional documents with your loan offer such as evidence that you have insurance on the property. Please refer to the checklist in your loan offer for the full details and ensure everything is returned to the bank in one go.
If you send some of these documents separately then it is very likely that the bank will lose some of your documents and settlement will be delayed.
Do I Need Insurance?
Most lenders require the borrower to obtain a minimum amount of building insurance before going ahead with the settlement. They may also require you to include them on your policy as a mortgagee (lender).
The requirements are different depending on the type of property that you are buying:
If the bank requires evidence of your insurance then you can ask your insurer for a certificate of currency to be faxed to you. Make sure that you have insured your property for the minimum amount and included your lender on the policy before you request a certificate of currency.
Send your certificate of currency to the bank along with your loan offer so that your settlement isn’t delayed.
Apply For Grants!
Are you eligible for the First Home Owners Grant (FHOG)?
There are a variety of different housing assistance programs available from each state. These come in the form of grants and stamp duty concessions.
The eligibility for assistance varies significantly between each state. Grants are normally available if you are buying a new property, building a new home or buying in a regional area. In some states they are available for all property types.
Don’t miss out on your grant! The eligibility requirements can be quite complex so enquire online or call 1300 889 743 to speak with one of our specialist mortgage brokers to find out which grants you are eligible for.
Final Check Of The Property
In the days leading up to settlement you will need to complete your final checks to ensure that the property you agreed to buy is in the same condition as it was before.
This final inspection can be booked in with the real estate agent. You should ensure that it has not been damaged and all fixtures and fittings listed in the contract are intact. In some cases a sneaky seller may try to take the carpet with them when they move out!
Your conveyancer will also do a final title search to make sure that the certificate of title is ready to be transferred into your name.
Settlement
There are only a few steps to go before you settle your first home! The settlement is when you become the owner of the property. The settlement date is typically six weeks after you have paid your deposit. However, you and the seller can negotiate a different settlement date if it is more suitable for you. We wouldn’t recommend a settlement period of fewer than four weeks as some banks may not be able to meet the deadline. A few days before settlement your conveyancer will let you know if there is any shortfall in funds that you need to pay. You can then organise bank cheques for these amounts to be given to your conveyancer who will then take them to settlement. On the settlement day, there will be a meeting between conveyancers and banks acting for you and the seller. The loan funds and any additional money you need to contribute will be handed over in return for the certificate of title and authority to release the current mortgage on the property. Sound confusing? Don’t worry. You don’t even need to attend this meeting. Just let your conveyancer take care of it! Your conveyancer will also authorise the real estate agent to release your deposit to the seller. After settlement, you can pick up the keys to your new home. Congratulations! Settlements can sometimes be delayed by a few days due to bank errors. For this reason, we recommend that you have your current lease end a week after settlement and that you book removalists for a couple of days after the proposed settlement date.) [1775] => stdClass Object ( [post_id] => 34845 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
If you've owned your property for some time then you may have plenty of equity. It may be as simple as calling a mortgage broker and seeing if they can consolidate your debts.
This works well if you don't need to borrow more than 80% of the value of your property.
Special tip: If your home loan has been paid on time for past 6 months then you'll get a better interest rate than the one you'd get with a second tier or non-conforming lender that will consider your application. Because of this, it may sometimes be best to wait a while before refinancing.
This is something that we can help you with. Please call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will contact you.
) [1776] => stdClass Object ( [post_id] => 30457 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The amount you can borrow generally depends on the lender, the loan product and their assessment of your application.
Typically, you may be able to borrow anywhere from $250,000 to $50,000,000 with a business loan. However, business loans over $5 million to $50 million have stricter lending criteria.
Our mortgage brokers understand which banks assess business loans more favourably.
You can call us on 1300 889 743 or fill in our free online assessment form to find out if you qualify and how much you can borrow.
) [1777] => stdClass Object ( [post_id] => 67210 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Caution is a good trait to have when entering the real-estate market, but waiting too long can set you back more than you think. If the property market is red hot, each day you wait can cost you hundreds of dollars. Some investors wait to save a deposit of 20% to avoid paying Lender’s Mortgage Insurance but if property prices are rising quickly enough, the increase in price might cost you more than LMI. Waiting may not be worth it as the rise in property prices could be much more expensive than the LMI fees.
Solution
Suppose you already have a sound investment strategy. In that case, it is often better to dive into the market instead of waiting around. Doing your homework is necessary. Learning is necessary. However, it’s not possible to learn everything before you start your property investment journey. To see whether you should buy now or save for a deposit, you can use our buy now or save more calculator. If you’re ready to make your first investment, give us a call on 1300 889 743 or fill in our free assessment form, and one of our investment mortgage brokers will guide you through each step forward.
) [1778] => stdClass Object ( [post_id] => 85793 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Whether you’re a first-time buyer or looking to refinance, we’ll work closely with you to explore all available options and secure the best possible rates. We take pride in our ability to turn complex situations into straightforward successes.
Call us at 1300 889 743 to speak with one of our expert brokers, or complete our free online assessment form to get started. Let us help you find the right loan for your dream home.
) [1779] => stdClass Object ( [post_id] => 61459 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers can help you with your situation.
We understand the current market conditions and can help you get the right loan to support your long-term financial goals.
) [1780] => stdClass Object ( [post_id] => 77562 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>If you are under mortgage stress or want to know your available options when in negative equity, then Home Loan Experts’ experienced mortgage brokers are here to help. We will assess your situation and help you determine the best option. Call us on 1300 889 743 or fill in our free online assessment form today!
) [1781] => stdClass Object ( [post_id] => 63927 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>If you're finding it hard to decide which home loans are most suitable for you, talk to our specialist mortgage brokers at Home Loan Experts.
We make sure we understand your situation and complete a thorough pre-assessment before suggesting the most suitable lenders for you.
Call us at 1300 889 743 or fill in our free online enquiry form.
) [1782] => stdClass Object ( [post_id] => 45128 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Firefrighting is a hazardous job so, unfortunately, accidents and injury come part and parcel.
If you're receiving workers compensation for injury or illness, 50-100% of this income can be accepted as long as the payments are ongoing for 5 years.
It all depends on the lender and the nature of your situation.
We can help get approved if you receive workers compensation.
Please call us on 1300 889 743 or fill in our online enquiry form to speak with one of our specialist mortgage brokers about your home loan options.
) [1783] => stdClass Object ( [post_id] => 7630 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>We know banks that regularly have the lowest fixed rates, allowing you to rollover your loan each year, rather than having to refinance.
Talk to one of our mortgage brokers by calling us on 1300 889 743 or enquire online and we will call you back.
) [1784] => stdClass Object ( [post_id] => 69706 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
This LMI waiver table is a guide only. For precise figures on how much you save, our mortgage brokers are here to help. Call us on 1300 889 743 or enquire online today.
) [1785] => stdClass Object ( [post_id] => 68414 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Getting your dream home takes a bit of effort. Here’s how you can get a house you want for Christmas.
Need a head start on your home buying journey around the holidays? Our mortgage brokers are here to help. Take your time to get your finances in order and conduct the necessary inspections to reduce the risk of expensive shortcuts. Call us on 1300 889 743 or enquire online today.
[wbcr_snippet id="73260"] ) [1786] => stdClass Object ( [post_id] => 34958 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The great thing about an SMSF low doc loan is that there are a couple of lenders that will look at your own personal financial situation, not just your trust income, to determine whether you have the capacity to afford the mortgage.
If you’re PAYG, you’ll need your two most recent payslips showing your year to date income.
Self-employed borrowers can simply provide an accountant’s letter declaring their income position.
Call us on 1300 889 743 or complete our free assessment form to speak with one of specialist mortgage brokers. We can let you know if you qualify for an SMSF low doc loan!
) [1787] => stdClass Object ( [post_id] => 79158 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Ready to protect your home from foreclosure? Let's work together to find the best solution for you. Our expert mortgage brokers can explore refinancing options, navigate lender communication, and find the best solutions tailored to your unique situation. Don't wait until it's too late – take action now! Call us today at 1300 889 743 or complete our free online assessment form.
) [1788] => stdClass Object ( [post_id] => 49968 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Give us a call on 1300 889 743 or fill in our online assessment form to find out if you qualify for a 100% home loan with no LMI.
) [1789] => stdClass Object ( [post_id] => 9904 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
If you are eligible for a grant or concession, such as a waiver for stamp duty, then you may not have to cover the 5% for purchasing costs.
Grants can significantly increase the maximum price you can pay for a home.
We can apply for a grant on a customer’s behalf and have it available upon settlement of the home loan. This can be used towards the purchase of the property as well.
To find out what grants could be available to you, call one of our expert mortgage brokers on 1300 889 743, or make a free enquiry online.
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Home Loan Experts has mortgage brokers with years of expertise working with NAB. When they submit your refinance application to the bank, they know how to negotiate the best deals and strengthen your application.
You’ll get the following if you choose to take our help in refinancing your NAB home loan:
Our mortgage specialists can assist you in avoiding unnecessary costs and locating the ideal refinancing plan. Simply call us on 1300 889 743 or complete our free online assessment form, and we’ll contact you without delay to review your refinancing options.
) [1791] => stdClass Object ( [post_id] => 27147 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>You may be eligible for professional package and basic loan discounts, including significant interest rate discounts below the bank standard variable rate, provided you meet standard lending criteria relating to your ability to pay off the home loan (serviceability).
Our expert mortgage brokers have a strong knowledge of the credit policies of the major banks and the more than 40 lenders on our panel so they know which ones are more willing to extend you a discount.
Call us on 1300 889 743 or complete our free assessment form to talk to one of our mortgage brokers. They can help you build a strong case so you have a better chance of qualifying for competitive home loan rates.
) [1792] => stdClass Object ( [post_id] => 53150 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Our mortgage brokers are here to help you if you are confused about whether to fix your home loan or not.
We will carefully assess your situation and provide you with a home loan that best suits your needs. Call us at 1300 889 743 or fill in our free assessment form.
) [1793] => stdClass Object ( [post_id] => 25526 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Right now, there are a lot of changes taking place and many investors are uncertain of what to do.
If you’d like to speak to an expert then please call us on 1300 889 743 or fill in our free assessment form today.
) [1794] => stdClass Object ( [post_id] => 48118 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => When you talk to people about their perception of the banks, most people say they would rather support a smaller lender. However, most customers will still choose a major bank over a smaller lender, even if the smaller lender is offering a much sharper interest rate. Much of this psychology has to do with the old adage of "too big to fail" and a misguided belief in the instability of second-tier lenders. Our mortgage brokers deal with many lenders on a daily basis and we would challenge this belief. We find that smaller lenders are very sophisticated in the way they do business, their rates are often lower, and their online platforms are very innovative, making it easier for borrowers to manage their home loans. Credit unions and building societies, in particular, take really good care of their customers.Do you qualify for a home loan?
Lending policies and interest rates have changed a lot over the past few months as banks react to regulatory changes and take a closer look at their loan books. However, a mortgage broker can help you cut through the noise and find a lender that can offer you the right home loan for your needs and at a sharp rate. Call us on 1300 889 743 or complete our online enquiry form to discover if we can get you approved for a mortgage. ) [1795] => stdClass Object ( [post_id] => 74386 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure where to begin your home loan journey? Our Home Loan Experts can help!
Talk to one of our experienced mortgage brokers by calling us on 1300 889 743 or complete our free online assessment form.
) [1796] => stdClass Object ( [post_id] => 30362 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>If you currently own a property, whether it's an investment property or your own home, the bank will take into account the associated costs and liabilities.
This includes your monthly mortgage repayments, bills, utilities and council rates.
However, depending on the amount of available equity you have, you can also borrow against the value of your home to maxmise your investment property borrowing power.
Typically, you need to have paid down your home loan to at least 80% of the property value or less before you can access this equity.
This is the cheaper option.
You can release equity at 90% of the property value with some lenders but you will have to pay a once off Lenders Mortgage Insurance (LMI).
Want to access equity to buy an investment property?
Call us on 1300 889 743 or complete our free assessment form to discover if you can refinance and release equity.
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Our Commercial Loan Experts can find the best deal for your business or commercial property loan!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1798] => stdClass Object ( [post_id] => 31624 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The reason our specialist mortgage brokers are able to speak to the decision makers in commercial at major banks and lenders is that we're commercial loan specialists.
What does that mean?
Well, firstly we have strong relationships with almost 40 lenders including banks and specialist non-banks.
On top of that, our mortgage brokers have many years of experience in credit, many of them having previously worked as a decision maker on commercial loan applications.
Because of this, we know exactly what the banks are looking for in an application so you have the best chance of getting approved the first time around.
It also puts us in a strong position to negotiate the terms of the caravan park commercial loan, including allowing you to borrow more than usual and getting access to reduced commercial interest rates.
Get in touch with one of our caravan park commercial loan specialists today by calling 1300 889 743 or complete our free assessment form.
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These LMI waivers and discounts are only available to geology professionals that work in the mining, energy and resources sector.
However, the few banks that offer these deals may still offer you significantly negotiated interest rates depending on your loan size and financial situation.
Please call us on 1300 889 743 if you're a geologist working in another industry.
) [1800] => stdClass Object ( [post_id] => 23639 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Commercial loan applications are judged by a lenders’ in-house credit assessing team based on things like the borrower’s character, asset position and cashflow.
A lender will assess every case on its merits so our job as a broker is to present a good case and mitigate any weaknesses with the strengths of your application.
The commercial lending departments of banks will usually undertake what is known as a SWOT analysis, an acronym for Strengths, Weakness, Opportunities and Threats.
Although it works differently from lender to lender, a SWOT analysis for a service station may look something like this:
Strengths: For example, you’re an experienced operator, you have a business plan and you’re going to be situated on a main road of a busy suburb that has massive traffic and no direct competition in the area.
Weaknesses: This refers to the weak aspects of you as a borrower such as having little to no experience in the industry and wanting to buy an independent service station. Are you going to be able to manage the business and the marketing with no experience?
Opportunities: For example, a large supermarket or mall is being constructed up the road from the service station which will increase traffic.
Threats: This refers to external factors that are largely out of your control. For example, there is direct competition, there is scope for another service station to open up near your location in the near future or an infrastructure project, such as a new motorway or tunnel, that may cut off traffic to your petrol station.
We're experts at highlighting the strengths of your application and negotiating a better interest rate. Call us on 1300 889 743 or fill in our free assessment form to find out how we can help.
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Here’s a quick snapshot of interest rates you can expect to get at different LVRs:
It’s worth noting that you still have to meet all other standard lending criteria.
All-time low interest rates
Home loan interest rates are the cheapest they’ve ever been with rates that start with a 1.
And it doesn’t look like interest rates will rise anytime in the near future as the governor of the Reserve Bank of Australia recently revealed the cash rate is not expected to increase until 2023.
To find out the special interest rates on offer from our panel of 50+ lenders, speak with one of our specialist mortgage brokers.
You can call us on 1300 889 743 or fill in our online assessment form.
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As banks continue to cut fixed rates, borrowers may feel excitement and caution. Lower rates are enticing, but carefully evaluating your loan situation and future expectations is essential.
Whether you’re considering locking in a fixed rate or staying with a variable rate, talking to a mortgage expert can help you navigate these changes.
If you're unsure about what to do next, we're here to help. Reach out to us at 1300 889 743 or enquire online for free, today. Let's work together to find the right solution for your home loan needs.
) [1803] => stdClass Object ( [post_id] => 58351 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>We’ve helped thousands of first home buyers apply for the FHOG and buy their first home.
Whether you’re buying new or building, talk to one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form to find out if you qualify for a home loan.
) [1804] => stdClass Object ( [post_id] => 70897 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Not sure which scheme is right for you? Our mortgage brokers can help you navigate the process and choose the right scheme for you. Call us on 1300 889 743 or enquire online today. ) [1805] => stdClass Object ( [post_id] => 20993 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Now you're getting closer! Open up a high interest savings account and add to it every time you get paid. Ideally, ask your employer to split off part of your pay and send it direct to your savings account so you don't even see it.
By having a separate savings account and adding to it regularly you're showing that you're good with your money. When you go to apply for a mortgage, we can show your savings history to the bank and it will really help to get you approved.
Your goal is 5% of the purchase price as a minimum but this can vary. For example, maybe your state government has a first home owners grant and stamp duty exemption for people who buy a new property. In this case, you can usually buy a little earlier.
Give us a call on 1300 889 743 or fill in our free assessment form and our mortgage brokers will let you know how much you need to save to get approved.
) [1806] => stdClass Object ( [post_id] => 72131 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Your borrowing power is not fixed forever. With these tips, you might be able to boost it and move closer to buying your dream home.
If you are ready to buy a home, do not be discouraged – rising rates will not impede you forever. You might have to make a few adjustments, but home ownership is still possible. Getting the right home loan for your situation can help your chances of approval. Take the help of our mortgage brokers at Home Loan Experts. Call us on 1300 889 743 or enquire online today. ) [1807] => stdClass Object ( [post_id] => 74305 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Not sure which lender is right for you? Home Loan Experts’ mortgage brokers can help you find out about many lenders and loan products in the market. They can help you weigh up the benefits of HomeStart and other available lenders to determine what best suits your needs.
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1808] => stdClass Object ( [post_id] => 32741 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [1809] => stdClass Object ( [post_id] => 94292 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Home Loan Experts can show you the government schemes for which you’re eligible and help you apply. Please speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short assessment form to buy your first home. Find out the best path to your new home today! ) [1810] => stdClass Object ( [post_id] => 9728 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>The type of loan you choose and the current interest rates affect how much you can borrow.Today, most lenders add at least 3 percentage points on top of their standard variable interest rate when calculating your ability to repay the loan. This is known as an assessment rate.
For example, if you want to borrow $500,000 and the current interest rate is 7%, a lender will add the 3 percentage points loading, and will assess your ability to repay the loan if the interest rate were to increase to 10%.
Some banks will reduce their assessment rate by the discount on their professional package. If your mortgage broker can negotiate a larger discount, then this will increase the amount that you can borrow.
Inclusion Of A Buffer
Many lenders will approve your mortgage application if you can afford your repayments at the assessment rate and have just enough money left over to pay your current debts and living expenses. In other words, even if you have no spare funds left after meeting your commitments. Other lenders will require you to have spare funds left over after paying your debts. This is known as a buffer.
The lenders include this buffer because they want to know that if your situation changes you can still afford the debt and any significant interest rate rises.
If your bank uses a buffer then it will greatly reduce how much you can borrow for a house.
Is Fixing Your Interest Rate A Good Move?
Fixing your interest rate can help considerably.
Using our example above, when you are applying for a variable-interest home loan, the lenders are assessing you at 10%.
However, if your interest rate is fixed at 6% for three years, then some lenders will assess your repayments at the three-year fixed interest rate, instead of their assessment rate.
This can make a huge difference, allowing you to borrow much more.
You will need to consider that when the fixed rate expires your loan will revert to the variable rate. So you might choose this option if you expect your income to increase before the end of the fixed-rate period.
If you think that serviceability may be an issue, please enquire online or call us on 1300 889 743. We can determine the best home loan for your situation.
) [1811] => stdClass Object ( [post_id] => 8503 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Our mortgage brokers are credit experts who understand that foreign business talent on an Australian visa may not be perceived favourably by some lenders.
We work closely with lenders that can consider your mortgage application even if you have just arrived in Australia!
We can help you get approval for a business visa mortgage. Call us on 1300 889 743 or enquire online for an assessment of your situation!
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Generally, you'll be limited to borrow only up to 80% LVR (Loan to Value Ratio) if you're a non-resident applying for a foreign investment in Australia.
Despite this, you can still qualify for the same rates and discounts as any Australian citizen living down under.
Find out if you qualify for a foreign investment in Australia by calling us on 1300 889 743 (+61 2 9194 1700 if you're overseas) or by completing our free online assessment form. Our mortgage brokers are experts at handling investment loans and can help you qualify with a suitable lender.
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One of the first things the banks will be looking at is if you’re a qualified doctor or practitioner with a few years of experience (generally at least 3 years) working in a similar operation to the practice you’re looking at purchasing.
Doctors and dentist may be required to provide evidence of a Medicare provider number.
Dentists, specifically, may be required to provide proof of registration with the Australian Dental Association. For veterinarians, you may need to provide a copy of your membership with the Veterinary Surgeons Board.
Banks will also be looking to see that you’re in a strong asset position. If you’re quitting your job to run the practice full time, you may require income protection and life cover, although this requirement will vary between lenders.
Our mortgage brokers are specialists in business loans for doctors and other medical professionals and we can help you prepare your application to highlight your strengths as a borrower so you have a better chance of getting approved the first time around.
Call 1300 889 743 or complete our free assessment form today.
How are doctors practices valued?
For the business itself, banks will take into consideration:
They’ll also consider the asset quality position, financial performance of each of the above aspects and how they impact the business overall, as well as the industry environment and existing market competition.
What security can I use for a medical centre commercial loan?
How long does settlement take for a business loan?
Like other commercial properties, settlement on a doctors practice business loan usually takes around 6 to 8 weeks.
) [1814] => stdClass Object ( [post_id] => 1620 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Casual hours are offered across a variety of industries. These include:
Most employers offer flexible hours, and many employees may receive cash remuneration.
If you have taken up a second job and are wishing to apply for a home loan, please call us on 1300 889 743 or enquire online today. Our expert mortgage brokers can assist you in applying for a mortgage!
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When banks consider lending to mothers who are staying at home with their newborn child, they generally take into consideration the length of time until you return to work. They also consider your ability to cover the loan repayments using:
However, the duration of the maternity leave is also an important factor. If you're concerned with your ability to get approval, fill in our free assessment form or speak to one of our mortgage brokers on 1300 889 743 to find out how we can help.
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If you need a home loan, please call us on 1300 889 743 or fill in our online enquiry form today.
) [1817] => stdClass Object ( [post_id] => 5596 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>We share your passion for homeownership, and we're here to help you achieve your dream. Whether you're saving for a deposit or searching for the right loan, let's simplify the process together. Just call us at 1300 889 743 or complete our free online enquiry form, and we’ll get back to you shortly. Don't wait – begin your journey today!
) [1818] => stdClass Object ( [post_id] => 94685 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Do you have eco-friendly features like solar panels in your home? Are you looking to refinance or invest but need help figuring out where to start? Professional guidance can make all the difference.
Just as Pramesh helped Michael and Jessica uncover hidden opportunities, an experienced broker can help you explore options you might be missing.
Don't miss out on potential savings and incentives – our expert team is here to help you navigate your refinancing journey.
Call us at 1300 889 743 or fill in our free online assessment form to discover opportunities you might be missing. Your enquiry is confidential and comes with no obligations.
) [1819] => stdClass Object ( [post_id] => 2094 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Enquire online or call us on 1300 889 743 if you would like expert advice on equity loans from one of our mortgage brokers.
) [1820] => stdClass Object ( [post_id] => 2030 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Please enquire online or call us on 1300 889 743 if you would like to talk with a mortgage broker who can give you expert advice on a fixed rate home loan, rate lock and flexible fixed loans.
) [1821] => stdClass Object ( [post_id] => 65763 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
There are mortgage relief options lenders are offering their customers for 2021, such as:
Long term guarantees
Long term deposit guarantees are normally for off the plan properties that are settling within a couple of years. The maximum term is 5 years. The insurer will normally require you to have significant equity in property, a large amount of cash or a significant shares to be able to qualify. If you don’t meet the equity requirements for a long term bond then we can often increase your home loan to pay for your deposit. Before you buy a property off the plan you should read our tips page and also our guide on applying for a home loan for an off the plan property. You can discuss your situation with us by calling 1300 889 743 or by filling in our free assessment form. We'll let you know what options are available to you.
) [1823] => stdClass Object ( [post_id] => 61578 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>When you’re on maternity leave, it can be difficult to find a lender but it’s not impossible.
Being on maternity leave should not lock you out of getting a home loan.
At Home Loan Experts, we know banks and lenders that have helped several clients on maternity leave find a home loan. Call us on 1300 889 743 or enquire online.
) [1824] => stdClass Object ( [post_id] => 70224 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Buying a home with bad credit might seem intimidating but our Home Loan Experts are specialists at them.
Our brokers will analyse your financial situation and your credit history to ensure smoothness throughout your home loan journey.
Home Loan Experts can help you reach your goal. Talk to our specialists on 1300 889 743 or fill in our free online enquiry form
) [1825] => stdClass Object ( [post_id] => 34949 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Not many mortgage brokers understand commercial and business loans let alone the finance to buy a franchise.
Many of our brokers have several years of experience working in the commercial credit departments so they know exactly what a winning application looks like.
On top of that, they have special relationships with the key decision in the business department meaning that they have the negotiation strength to request discounted interest rates, better loan terms and higher LVRs.
Call us on 1300 889 743 or fill in our easy assessment form and you may soon be on your way to owning an Outback Jack's Bar & Grill.
) [1826] => stdClass Object ( [post_id] => 44601 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
If you’re unsure about whether refinancing will save you money, call us on 1300 889 743 or enquire online.
) [1827] => stdClass Object ( [post_id] => 134 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => You can go to the interest rates page on our website and view the low doc section. We update this regularly with the best offers from our lenders. Please call us on 1300 889 743 or enquire online for a low doc loan quote.) [1828] => stdClass Object ( [post_id] => 43632 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
It really depends on what you want to achieve but interest only is typically only suited to strong and sophisticated borrowers.
Homeowners are generally better off paying down their mortgage as quickly as possible, even making extra home loan repayments if possible e.g. break costs can apply to fixed rate terms.
Investors, on the other hand, want to minimise their opportunity cost and put their money to work by investing further.
An interest only loan term, therefore, allows you to maintain your cash flow and more agility to build your property portfolio and even flip houses if you're pursuing a capital gains strategy.
Check it out: we cover the topic of IO versus P&I extensively.
Alternatively, fill in our free assessment form or discuss your plans with one of our mortgage brokers by calling 1300 889 743 today.
We're interest only and investment loan experts.
) [1829] => stdClass Object ( [post_id] => 13155 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>If you would like help with a story or a comment for an article that you are writing then please call 1300 889 743 (+61 2 9194 1700 from outside Australia) and ask to speak to our Senior Digital Marketing Manager Andy Villegas.
If you would like a comment from one of our customers who has purchased a home recently then please email or call us.
Alternatively, you can email a list of questions to andy@homeloanexperts.com.au
) [1830] => stdClass Object ( [post_id] => 78089 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Looking to secure the best possible interest rate for your next home purchase or to refinance? Don't miss out on the opportunity to lock in a great rate with the help of our mortgage brokers. Our team of experts has the knowledge and experience necessary to help you find the perfect mortgage solution that fits your unique financial needs.
Call us on 1300 889 743 or compur free online assessment form today to speak to a broker.
At Home Loan Experts, our mortgage brokers are credit experts and work to get tough loans approved.
Learn more about us and find out how we tailor home loan solutions that suit your needs!
Our mortgage brokers are here to help you. Call us on 1300 889 743 or fill in our free no-obligation assessment today.
) [1832] => stdClass Object ( [post_id] => 71718 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>To apply for any one plan under the Home Guarantee Scheme, you will need to send your application to a participating lender. We can help you with your application. Call us on 1300 889 743 or enquire online today.
) [1833] => stdClass Object ( [post_id] => 74299 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Defence Home Ownership Assistance Scheme
The government has committed $46.2 million to expand the Defence Home Ownership Assistance Scheme. The scheme supports veterans and Australian Defence Force members to buy homes through monthly mortgage interest payments subsidies. The Defence scheme will join previously announced assistance for homebuyers, including the Help to Buy Scheme and the three components of the Home Guarantee Scheme: the Regional First Home Buyer Guarantee, the First Home Guarantee and the Family Home Guarantee. The government also announced that it will attempt to bolster housing supply by offering more incentives for older Australians to downsize to free up stock for younger families. This will be done by exempting home sale proceeds from pension asset testing and expanding access to downsizer superannuation contributions. Our mortgage brokers can help you apply for any schemes under the Home Guarantee Scheme, including the Regional First Home Buyer Guarantee. Call us on 1300 889 743 or enquire online today.
) [1834] => stdClass Object ( [post_id] => 78632 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Our team of seasoned mortgage brokers specialises in assisting foreign buyers just like you. They are dedicated to guiding you through the entire process, ensuring your property dreams become beautiful realities. Discover how we can help you secure the best interest rates, terms, and conditions. Enquire online for free or call us on 1300 889 743 (or +61 2 9194 1700 for callers outside Australia). ) [1835] => stdClass Object ( [post_id] => 75265 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>In his statement on the RBA’s decision, Governor Dr Philip Lowe said inflation is expected to rise over the months ahead and could peak around 8% over the year to the December quarter. The RBA expects to increase interest rates further over the period ahead, but it is not on a pre-set course.
Home Loan Experts CEO Alan Hemmings said, “The last time the cash rate was above 3% was November 2012. Inflation remains high and the RBA continues to want to rein it in; however, it is still uncertain what the central bank will do next year.
“Mortgage holders will get a reprieve in January, as the RBA does not meet. After that, some economists predict, we’ll see a slowing in cash rate increases. Others expect another half-point to be added to the cash rate.”
Hemmings further explained what may slow further cash rate rises is that, over the next 12 months, approximately 30% of outstanding mortgages on cheap fixed rates are due to move to variable rates. This means about $270 billion worth of mortgages are expected to experience an interest rate increase of three percentage points. This will place additional pressure on households and may help curb inflation.
“For those customers who have a fixed rate that is due to expire, being aware of what interest rates are available in the market is very important – so is reading the fine print on any advertising of ‘cheap rates’. We are seeing several lenders offer supposedly cheap rates, but the fine print details further increases down the road. In an effort to attract new business, lenders are slowing the rate at which they pass on interest rate increases to new customers.
The big four banks have shared their predictions on how high the cash rate will go in 2023:
With most experts predicting a cash rate rise in 2023, here are some ways you can prepare:
We’ve outlined more ways you can prepare for an interest rate rise here.
Home Loan Experts’ brokers can guide you through the right steps to prepare you for a rise in interest rates, whether through refinancing or simply managing your home loan more effectively. Call us on 1300 889 743 or complete our free online assessment form today.
) [1836] => stdClass Object ( [post_id] => 1827 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => We strongly recommend that you complete the appropriate training before you begin your construction project. In some states, this is mandatory. We recommend undertaking a course with ABE Education, a Registered Training Organisation that provides quality nationally accredited training to owner-builders in NSW and the ACT. This training will enable you to obtain your owner builder permit/ licence and will assist with your finance approval. ABE Education specialise in e-learning, which is simple, user-friendly and interactive. You can take as long as you wish to complete your course, as all your work is saved for the next time you log in. Visit ABE Education website for more information. The contact details are: ABE Education Phone: 02 9798 5000 Fax: 02 9225 9656 Email: info@abeeducation.com.au Website: http://www.abeeducation.com.auHow can we help?
your mortgage brokers are specialists in home loans for people building their own home. We know which lenders can help, how they will assess your application and even how to best present the cost estimate to ensure the loan is viewed favourably by the credit assessor. If you'd like our help with your project then please call us on 1300 889 743 or fill in our free assessment form and one of our brokers will give you a call to discuss your situation.) [1837] => stdClass Object ( [post_id] => 77123 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => In his statement on the RBA’s decision, Governor Dr Philip Lowe said to expect further increases in interest rates over the coming months to ensure inflation returns to target. The RBA will keep a close eye on developments in the global economy, household spending trends and the outlook for inflation and the labour market. Home Loan Experts CEO Alan Hemmings said, “Inflation is still well above the target for the Reserve Bank and although we are yet to see the impacts of the increases over the last nine months, the Reserve Bank is saying it still needs to do more. “It is expected that all lenders will pass on the 0.25 percentage point increase, meaning the best variable interest rates available will be close to 5%. The biggest issue for all customers to be aware of is servicing. With the required buffer at 3 percentage points, most lenders will be completing calculations with a mortgage interest rate of 8%, this significantly reduces the borrowing power of customers. “For those customers who have a fixed rate that is due to expire, being aware of what interest rates are available in the market is very important. Also, read the fine print on advertising. We are seeing a number of lenders offer supposedly cheap rates”, but the fine print details further increases. In an effort to attract new business, the lenders are slowing their cycle for passing on any interest rate hikes to new customers.” Home Loan Experts General Manager Bhisan Raj KC said, “There is some uncertainty around inflation but most of the big four banks have predicted at least two more rises. NAB expects two more, while ANZ and Westpac believe the cash rate will peak in May. Meanwhile, CBA predicts that there will be a pause until the next inflation report. The cash rate hikes have now surpassed the 3 percentage-point buffer that banks use to assess borrowers, so customers will need to review their living expenses, cut down on a few things, and speak to their broker about negotiating better rates with their current lender or refinancing to a lower rate. They should keep in mind, however, that the economy does go through this cycle every now and then.” We’ve outlined more ways to prepare for an interest rate rise here. Home Loan Experts’ brokers can guide you through the right steps to prepare you for a rise in interest rates, whether through refinancing or simply managing your home loan more effectively. Call us on 1300 889 743 or complete our free online assessment form today. ) [1838] => stdClass Object ( [post_id] => 54605 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Here’s how we can recommend the best home loan based on your situation.
We’ll first conduct a Preliminary Credit Assessment wherein; we look at your financial situation; and your objectives and product requirements for seeking credit.
Finally, based on our discussions and the lenders you qualify with, we’ll make our recommendations that best match your needs and requirements. Please be aware that it is not always possible to recommend a product that satisfies all of your objectives; the product selected will be the closest match to your requirements.
As a mortgage broker, we act in your best interests when recommending a home loan, whereas a lender has no legal obligation to do so.
Please enquire with us today by calling us on 1300 889 743 or by filling out our free online assessment form to speak with one of our specialist mortgage brokers.
) [1839] => stdClass Object ( [post_id] => 2802 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Even if the banks can’t help you, there are many specialist home loan lenders that can accept your application. Once your credit history is clear, you can refinance the loan with a bank to get a better deal. Typically, you will be able to borrow up to 80-85% of the property value with a specialist lender, even if you have small, unpaid defaults or larger paid defaults on your credit file. Specialist lenders are more flexible. They charge somewhat higher interest rates in exchange for approving loans with more risk. Specialist lenders gladly consider approving bad-credit home loans. They accept more applications with defaults than banks. They will listen to your explanation for your bad credit history. And they will consider a low-doc loan with less evidence of income. However, specialist lenders also tend to be more conservative than the banks in some ways:Are you earning NZD dollars?
New Zealand dollars are actually on the list of currencies that most banks will accept for Australian expats applying for a mortgage. If you’re working in a permanent full time position, even better!
Most of the time, you’ll just need to provide the same financials as if you were living in Australia, which are:
There’s even a higher chance of approval and quicker turnaround times because the financials will be in English. Applications for expats in non-English speaking countries can be a headache for Australian banks so you’ve already made their job easier.
Do you get paid in another currency?
Check out the Foreign Currency Mortgages page for a full list of the most common currencies that we deal with.
After that, give us a call on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our easy free assessment form to speak with one of our specialists in home loans for Australians living in New Zealand.
) [1841] => stdClass Object ( [post_id] => 98015 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
NDIS loans at 90% LVR are difficult to secure, as most lenders look at them as a major risk. Fortunately, at Home Loan Experts, we have a knack for doing the difficult things right.
Similar to the way Prabesh helped Alder secure an NDIS loan at 90% LVR, mortgage brokers at Home Loan Experts can help you get a loan for your real-estate investments.
Call us today at 1300 889 743">1300 889 743 or complete our free online assessment form and let us help you.
) [1842] => stdClass Object ( [post_id] => 98020 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>NDIS loans at 90% LVR are difficult to secure, as most lenders look at them as a major risk. Fortunately, at Home Loan Experts, we have a knack for doing the difficult things right.
Similar to the way Prabesh helped Alder secure an NDIS loan at 90% LVR, mortgage brokers at Home Loan Experts can help you get a loan for your real-estate investments.
Call us today at 1300 889 743 or complete our free online assessment form and let us help you.
) [1843] => stdClass Object ( [post_id] => 98025 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>NDIS loans at 90% LVR are difficult to secure, as most lenders look at them as a major risk. Fortunately, at Home Loan Experts, we have a knack for doing the difficult things right.
Similar to the way Prabesh helped Alder secure an NDIS loan at 90% LVR, mortgage brokers at Home Loan Experts can help you get a loan for your real-estate investments.
Call us today at 1300 889 743 or complete our free online assessment form and let us help you.
) [1844] => stdClass Object ( [post_id] => 98055 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => As with any mortgage application, if the bank valuation comes in low, then the loan may be declined. This means that you may be unable to complete your divorce settlement and successfully divide the property. So how can you control the bank valuation? The simple answer is that you can’t. However, as a mortgage broker, we have the ability to order valuations with several lenders before submitting a full application. You can then apply with the lender that has the most favourable valuation. In the past, the only way to obtain multiple valuations was to put in multiple applications at the one time. If you were to do so nowadays, you’d most likely fail credit scoring for all the lenders that you applied with due to the high number of enquiries on your credit file. As such, your loan application would ultimately be declined. Please call us on 1300 889 743 or enquire online to find out how we can help you obtain an upfront bank valuation.Tips On Separating From Your Ex
The Australian Securities and Investments Commission (ASIC) MoneySmart website provides a checklist for someone going through separation. Some of those steps are listed below:Seek legal advice
You should seek legal advice from a qualified solicitor who specialises in family law before you apply for a loan to buy out your ex-partner or before you enter into any agreement with them. We’ve tried to ensure that the information on this page is accurate but family law is a complex area. For this reason, you must seek professional legal advice in order to obtain specific advice on your transfer of ownership.) [1845] => stdClass Object ( [post_id] => 98066 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
If you are under mortgage stress or want to know your available options when in negative equity, then Home Loan Experts’ experienced mortgage brokers are here to help. We will assess your situation and help you determine the best option. Call us on 1300 889 743 or fill in our free online assessment form today!
) [1846] => stdClass Object ( [post_id] => 98076 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => As your mortgage broker, Home Loan Experts can help you assess your situation and find the right lender. Whether you're looking for a competitive rate or a home with the highest value you can afford, we're here to help. Call us on 1300 889 743 or fill out our free online enquiry form today! ) [1847] => stdClass Object ( [post_id] => 98082 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>NDIS loans at 90% LVR are difficult to secure, as most lenders look at them as a major risk. Fortunately, at Home Loan Experts, we have a knack for doing the difficult things right.
Similar to the way Prabesh helped Alder secure an NDIS loan at 90% LVR, mortgage brokers at Home Loan Experts can help you get a loan for your real-estate investments.
Call us today at 1300 889 743 or complete our free online assessment form and let us help you.
) [1848] => stdClass Object ( [post_id] => 98083 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>NDIS loans at 90% LVR are difficult to secure, as most lenders look at them as a major risk. Fortunately, at Home Loan Experts, we have a knack for doing the difficult things right.
Similar to the way Prabesh helped Alder secure an NDIS loan at 90% LVR, mortgage brokers at Home Loan Experts can help you get a loan for your real-estate investments.
Call us today at 1300 889 743 or complete our free online assessment form and let us help you.
) [1849] => stdClass Object ( [post_id] => 98084 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>NDIS loans at 90% LVR are difficult to secure, as most lenders look at them as a major risk. Fortunately, at Home Loan Experts, we have a knack for doing the difficult things right.
Similar to the way Prabesh helped Alder secure an NDIS loan at 90% LVR, mortgage brokers at Home Loan Experts can help you get a loan for your real-estate investments.
Call us today at 1300 889 743 or complete our free online assessment form and let us help you.
) [1850] => stdClass Object ( [post_id] => 98087 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Lenders seek borrowers with stable jobs and consistent income. Most lenders prefer to see that you have been in a full-time job for at least three months and have completed any probationary period. Lenders are more reluctant to provide home loans to people with casual employment or who have been working irregular hours because their income is less certain. They also strictly assess self-employed borrowers and often deny loans to people who have been self-employed for less than a year, as they don’t yet have tax returns to prove their income. It’s also hard for people with unusual employment, such as those with multiple part-time jobs and contract workers, to qualify under the banks’ lending criteria. Note: Got an unusual job and banks won't help? Don’t worry. Our specialised mortgage brokers can help you find the right loan if you have unique employment status! Call us on 1300 889 743 or fill in our free online assessment form today! ) [1851] => stdClass Object ( [post_id] => 98088 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Mortgage brokers and financial advisers serve very different purposes. There may be overlapping duties, like collecting the same information for assessments, but ultimately they are not the same. If you are interested in finding the best home loan options and want someone to do all the legwork, a mortgage broker should be your choice. Based on their knowledge and expertise, they can narrow down the best products available for your situation. They may also be able to quicken your process with lenders with which they have a good rapport. However, mortgage brokers cannot make decisions or give you advice. They can only bring the best options to you. If you are keen on keeping to your financial goals, a financial adviser can keep you on the right track. With their knowledge of finance, they can steer you away from risky investments and advise you on which moves to make. However, they may not be very helpful in finding the most competitive rates for you when getting a loan. Mortgage brokers and financial advisers working together could lead to the optimal result for you. Financial advisers can devise a plan of action before you approach a broker so you can have clear objectives, or you can consult with a financial adviser for the final choice after getting the options from a broker. Want the best home loan deal available to you? Call us on 1300 889 743 or complete our free online enquiry form and tell us a little about your circumstances. One of our experienced mortgage brokers can provide you with a free, no-obligation assessment. ) [1852] => stdClass Object ( [post_id] => 98095 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>We have brokers who specialise in all kinds of deals and have the right blend of personality, professionalism and responsive communication. Our brokers get many referrals from customers and much repeat business.
If you're searching for quality service and a smooth approval mortgage process, call us on 1300 889 743 or complete our online enquiry form today.
) [1853] => stdClass Object ( [post_id] => 98094 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Variations for refinance can vary significantly among lenders. Each one has its own valuers and methods. The secret, then, is to get valuations from more than one lender. A broker can do this and then lodge your loan with the most suitable one after considering their valuation and interest rates – along with your needs.
Do you need to ensure your property has the highest valuation for a refinance? Our mortgage brokers can help. Call us on 1300 889 743 or enquire online today.
[wbcr_snippet id="73272"] ) [1854] => stdClass Object ( [post_id] => 98096 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Buying a home with bad credit might seem intimidating but our Home Loan Experts are specialists at them.
Our brokers will analyse your financial situation and your credit history to ensure smoothness throughout your home loan journey.
Home Loan Experts can help you reach your goal. Talk to our specialists on 1300 889 743 or fill in our free online enquiry form
) [1855] => stdClass Object ( [post_id] => 98097 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => We’re experts at dealing with different types of home loans. Our professional staff provide excellent service and trusted individual care. Contact us on 1300 889 743 or fill in our online form to speak to one of our Home Loan Experts. ) [1856] => stdClass Object ( [post_id] => 98098 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Out of several factors that can change the interest rate, the most important are monetary policy, fiscal policy, economic growth, and the cash rate. These are determined by the Reserve Bank of Australia (RBA).
There are other factors that affect the interest rate that the RBA has little control over:
Contact our specialist mortgage brokers at 1300 889 743 or fill in our online assessment form and we will help you find the perfect loan.
) [1857] => stdClass Object ( [post_id] => 98106 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
Rent-to-own schemes have two components: a standard rental agreement and an agreement to buy (which can be optional). Homeowners who want to buy a house through a rent-to-own scheme sign a contract with a seller that allows them to buy the house after the renting period. Most of these plans will demand a deposit, which many homeowners obtain part of by applying for the First Home Owners Grant or the First Home Loan Deposit Scheme. Participants pay rent (typically higher than the market average) and a monthly charge for the right to buy the property at the end of the contract. Some rent-to-buy contracts also include other costs for the buyer, such as building maintenance, stamp duty and insurance. The amount of money paid for the right to buy – which often goes into the tens of thousands – is then usually subtracted from the final sale price. Sometimes, a buyer can arrange to have a portion of the total rent payments deducted from the sale price as well. Example: Let's say you sign a three-year rent-to-own deal with a $600,000 agreed future price and a deposit of $30,000 from your savings plus $20,000 from a First Home Owners Grant. In this case, the landlord may decide to charge you $450 a week in rent (above the average for the area), plus $100 per week for the option to buy the property at the end of the three-year lease. With a year lasting 52 weeks, this means you'll shell out $85,800 during the first three years, including $70,200 in rent and $15,600 in option payments. $450*52*3 = $70,200 $100*52*3 = $15,600 $70,200+$15,600 = $85,800 If the contract indicates that the option payments go toward equity in the house (which is not a given) but none of the rent, you'll need a $534,400 home loan to buy the house at the end of the three-year lease ($600,000 less the $50,000 deposit and $15,600 equity). $600,000 - ($50,000+$15,600) = $600,000 - ($65,600) = $534,400 Once you reach the end of the lease part of the contract, getting a home loan to buy the property works the same as with any other home loan. Before deciding whether or not to approve your application, the bank will check your eligibility against its lending requirements. If you receive approval, the property's title should be transferred to your name as the legal owner once the settlement is finalised. You will then need to make regular repayments until the loan is paid off. Use our mortgage calculators to get a good sense of what to expect from your bank or lender when you rent to buy. If you want to clear up any doubts, call us on 1300 889 743 and we will connect you to our expert brokers.
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Getting your dream home takes a bit of effort. Here’s how you can get a house you want for Christmas.
Need a head start on your home buying journey around the holidays? Our mortgage brokers are here to help. Take your time to get your finances in order and conduct the necessary inspections to reduce the risk of expensive shortcuts. Call us on 1300 889 743 or enquire online today.
[wbcr_snippet id="73260"] ) [1859] => stdClass Object ( [post_id] => 98118 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] => Since banks can be quite conservative and turn down people who have minor blemishes on their credit file or were not employed for a long period, private lenders can help. However, at Home Loan Experts, we know lenders who take a commonsense approach to lending. Even if you’ve been in your job for less than a year or there are some defaults on your credit file, we can help you get approved with a bank. Call us on 1300 889 743 or enquire online. Remember, for most borrowers, private lenders should be the last resort, if you can’t get approved by banks or specialist lenders.Is Private Lending Safe?
Yes. Contrary to popular belief, private lending in Australia is safe, as they’re governed by the laws and practices used to govern banks. Also, you can work with a reputable mortgage broker to weed out any shady dealers and find private lenders who are safe and legitimate.How Much Does A Private Lender Charge?
Private lenders usually charge the same fees as traditional lenders. So the expenses involved include application fees, valuation fees, legal fees and loan establishment fees. However, since their interest rates are high, private home loans are expensive. Their interest rates start from 6% and the interest charged depends on the loan amount and how much you’re looking to borrow.How Does A Private Mortgage Work?
The private lender provides the funds to the borrower based on the borrower’s security. The lender will check the security provided and decide how the loan is to be repaid. The lender usually uses a conservative valuation of the property, in case the borrower fails to repay the loan on time and they need to sell it. The set time is usually less than 2 years, at a fixed interest rate. ) [1860] => stdClass Object ( [post_id] => 98134 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Our expert mortgage brokers can work with your current situation and identify solutions to get you out of being a mortgage prisoner.
If you’re locked in as a mortgage prisoner, talk to our expert brokers.
We can find you tailor-made solutions so you can refinance to a competitive interest rate home loan.
To get in contact with our brokers, call us at 1300 889 743 or fill in our free assessment form today.
) [1861] => stdClass Object ( [post_id] => 98149 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>Yes, you can start looking for a property once you receive pre-approval because the bank is satisfied with your strength as a borrower. It also:
However, there are a couple of things to keep in mind.
3 Month Time Limit
Most lenders have an expiry date on pre-approvals; usually 90 days. Depending on the lender, a valid pre-approval of 110 days is also available.
So take your time but don't wait too long.
The reason is that your situation can change in 3 months, including changing jobs or taking on new debt such as a credit card.
Don't Change Your Situation
On that note, try to stay in your job, avoid applying for more debt or make any major changes to your financial situation within those 3 months.
Otherwise, you may find that you'll need to complete an entirely new application or could be knocked for a home loan completely.
Don't Buy To Your Borrowing Limit
If you're pre-approved for $1 million, don't look to buy a $1 million property.
Your borrowing limit is an indication only.
In addition to this, you need to factor in the other costs of buying a home including stamp duty, mortgage transfer fees, conveyancing and legal fees and Lenders Mortgage Insurance (LMI).
Try To Stick To Standard Properties
Be weary of choosing unusual or non-standard properties like inner city apartments, bushfire prone properties, flood zone properties or heritage-listed real estate.
Most banks see these properties as high-risk because they can be difficult to sell in a buyers' market, or in general, should the bank be required to do so if you default on your mortgage.
Typically, you'll have a much better chance at formal approval if you're buying a standard residential home.
Do you have your conditional approval but aren't sure whether the bank will accept your property?
We're experts in getting home loans approved for unique properties like hobby farms so please call us on 1300 889 743 or fill in our online enquiry form today.
) [1862] => stdClass Object ( [post_id] => 98170 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
No. As a general rule, banks want the applicants borrowing the money and the people offering the security to be the same people. They’re often willing to accept a couple with a home as there’s a clear benefit to both of them in having that home. There are some exceptions to this though!
Loan Structures That Scare The Banks!
Buying An Investment Property
What if you have an investment property in one name, with both the husband and wife on the investment loan?
The banks begin to ask some difficult questions:
Financing A Business
What if you have a home as security for a business loan?
Often the business is just in the name of one person so the bank will want to know:
Most business loans are unregulated which means the banks have less rules requiring them to protect each property owner.
They'll tend to take a common sense approach and only approve a loan like this if it’s a low risk.
You can actually get business loans at home loan rates through some banks!
Don’t get ripped off: call us on 1300 889 743!
A Friend Borrowing On Your Property
What if your friend or family member wants to borrow against your property?
This is known as third-party security and it terrifies the banks for several reasons:
Luckily, there are solutions:
The banks are unlikely to help most people in these situations.
It’s best to call us to discuss your individual circumstances.
) [1863] => stdClass Object ( [post_id] => 98177 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
What is a pre-settlement risk?
When one party of a contract fails to meet the terms of the contract and defaults before the settlement date is reached, it is known as pre-settlement risk. Basically, it's the risk where one party prematurely ends the contract.
For example, you own a business and you're using the income you earn from it to cover your mortgage repayments. If your business goes bankrupt then you'll have no option but to default on the contract, provided that you don't have any other source of income.
It's important to consider all risks associated with mortgages before you decide to buy a property.
You can contact us on 1300 889 743 or fill in our free online assessment form to get more information on settlement.
) [1864] => stdClass Object ( [post_id] => 98184 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>What Type Of Ownership Will You Have?
For couples, you will need to decide on the type of ownership for the property. This will be stipulated on the documents that your conveyancer gives to the state government to transfer the property into your names.
There are three types of ownership:
You should discuss these options with your conveyancer or solicitor.
Time To Sign The Loan Offer
After formal approval, it will take around a week for you to receive the loan offer documents from the bank. The loan offer is the contract between you and the bank with details such as the loan amount, interest rate and repayments.
You can go through your loan offer with your mortgage broker or you can seek independent legal advice by taking the contract to a solicitor to be reviewed.
Sometimes banks make errors in the loan offer which need to be fixed before the loan funds are advanced. The most common mistakes are the spelling of your names or the address of the property that you are buying. Less common mistakes include the interest rate discount or the fees applicable to your loan. If you notice a mistake then let your mortgage broker know right away.
Make sure that you sign and return the loan offer promptly to avoid delays in your settlement! Although it normally takes a few days for the bank to process your loan offer when it is returned, during busy periods it can take up to a couple of weeks.
You may need to include some additional documents with your loan offer such as evidence that you have insurance on the property. Please refer to the checklist in your loan offer for the full details and ensure everything is returned to the bank in one go.
If you send some of these documents separately then it is very likely that the bank will lose some of your documents and settlement will be delayed.
Do I Need Insurance?
Most lenders require the borrower to obtain a minimum amount of building insurance before going ahead with the settlement. They may also require you to include them on your policy as a mortgagee (lender).
The requirements are different depending on the type of property that you are buying:
If the bank requires evidence of your insurance then you can ask your insurer for a certificate of currency to be faxed to you. Make sure that you have insured your property for the minimum amount and included your lender on the policy before you request a certificate of currency.
Send your certificate of currency to the bank along with your loan offer so that your settlement isn’t delayed.
Apply For Grants!
Are you eligible for the First Home Owners Grant (FHOG)?
There are a variety of different housing assistance programs available from each state. These come in the form of grants and stamp duty concessions.
The eligibility for assistance varies significantly between each state. Grants are normally available if you are buying a new property, building a new home or buying in a regional area. In some states they are available for all property types.
Don’t miss out on your grant! The eligibility requirements can be quite complex so enquire online or call 1300 889 743 to speak with one of our specialist mortgage brokers to find out which grants you are eligible for.
Final Check Of The Property
In the days leading up to settlement you will need to complete your final checks to ensure that the property you agreed to buy is in the same condition as it was before.
This final inspection can be booked in with the real estate agent. You should ensure that it has not been damaged and all fixtures and fittings listed in the contract are intact. In some cases a sneaky seller may try to take the carpet with them when they move out!
Your conveyancer will also do a final title search to make sure that the certificate of title is ready to be transferred into your name.
Settlement
There are only a few steps to go before you settle your first home! The settlement is when you become the owner of the property. The settlement date is typically six weeks after you have paid your deposit. However, you and the seller can negotiate a different settlement date if it is more suitable for you. We wouldn’t recommend a settlement period of fewer than four weeks as some banks may not be able to meet the deadline. A few days before settlement your conveyancer will let you know if there is any shortfall in funds that you need to pay. You can then organise bank cheques for these amounts to be given to your conveyancer who will then take them to settlement. On the settlement day, there will be a meeting between conveyancers and banks acting for you and the seller. The loan funds and any additional money you need to contribute will be handed over in return for the certificate of title and authority to release the current mortgage on the property. Sound confusing? Don’t worry. You don’t even need to attend this meeting. Just let your conveyancer take care of it! Your conveyancer will also authorise the real estate agent to release your deposit to the seller. After settlement, you can pick up the keys to your new home. Congratulations! Settlements can sometimes be delayed by a few days due to bank errors. For this reason, we recommend that you have your current lease end a week after settlement and that you book removalists for a couple of days after the proposed settlement date.) [1865] => stdClass Object ( [post_id] => 98207 [meta_key] => add_site_layouts_4_post_editor_option [meta_value] =>
We share your passion for homeownership, and we're here to help you achieve your dream. Whether you're saving for a deposit or searching for the right loan, let's simplify the process together. Just call us at 1300 889 743 or complete our free online enquiry form, and we’ll get back to you shortly. Don't wait – begin your journey today!
) [1866] => stdClass Object ( [post_id] => 81135 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Apart from the direct costs of refinancing, there are other costs or consequences that borrowers often overlook:Am I Eligible To Refinance?
You should check with your mortgage broker to discover whether you’re eligible to refinance your home loan. Various factors may restrict your ability to refinance. Ideally, you should owe less than 90% of the value of your property.What Are The Pros Of Refinancing A Home Loan
There may be various benefits to refinancing your home loan: Depending on whether you’re a homeowner or an investor, if and when you decide to refinance can vary drastically:Is It A Good Time To Refinance?
Your home loan may have been suitable for you a few years ago, but your circumstances change over time, and so do your needs. Generally speaking, if you haven’t checked your interest rate in the past two years, you could be missing out on a lower rate. Call us today on 1300 889 743 or enquire online to learn more about the cost of refinancing and your refinancing options. ) [1867] => stdClass Object ( [post_id] => 3812 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>What many property investors don’t know is that it’s often harder to get approved for a standard home loan when borrowing under a company name than if you were to borrow in your own name.
In fact, some banks refer these loans to their business banking division and charge higher interest rates
This is despite the fact that there’s very little difference between buying in a company name or an individual’s name.
Luckily, our mortgage brokers are experts in company home loans and can pair you with a lender that will approve your loan.
To get leading market interest rates, speak to us today on 1300 889 743 or complete our free assessment form
) [1868] => stdClass Object ( [post_id] => 30233 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Recent changes by the Australian Taxation Office (ATO) has seen many banks and lenders restrict their investment loan books.
Despite this, there are lenders that can approve your mortgage application as long as you meet their requirements.
How much can I borrow?
Depending on your situation, you may be able to borrow:
Call us on 1300 889 743 or complete our free online assessment form to speak with our brokers about applying for a mortgage today.
) [1869] => stdClass Object ( [post_id] => 68902 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => While your total income is one factor lenders will consider when assessing how much you can borrow, another key factor is your debt-to-income ratio. The maximum amount you can borrow is based on your income, current debts, and ability to repay the loan amount.
Your Debt-To-Income (DTI) Ratio
The DTI ratio is a key metric lenders use to determine if you can pay off your home loan comfortably without getting into financial hardships and mortgage stress. It is calculated as the amount of money you earn divided by your total debts and liabilities. As a simple example, let’s assume the total household income of a couple is $150,000. Assume they are looking at an $850,000 property and they’ve saved a 20% deposit ($170,000), so they need a loan for $680,000. Their total debts and liabilities beforehand are $10,000. So, adding that to the amount of the loan, their total debt would become $690,000. When we divide their total debt by their income, we get a DTI ratio of 4.60. This means their total debt is 4.6 times their combined income.You can use our DTI ratio calculator to check your own DTI based on any loan amount. Tip: A DTI of 6 is usually considered high. Fortunately, lenders have different policies on what is an acceptable DTI ratio. Some lenders can accept borrowers with a DTI ratio up to 9. Our mortgage brokers know which lenders accept higher DTI limits. Call us on 1300 889 743 or enquire online.
Evidence Of Income
You will need to provide sufficient evidence of the income you’re earning. The specific types of income banks accept vary, but the important thing is that they look for a consistent income source. For example, if you’ve only received one bonus throughout your career, then the lender will not consider that part of your income. Your income plays a crucial role in determining how much house you can afford. Our 360° Home Loan Assessor can help you assess your buying power by considering your income, expenses, and other financial factors. By entering your income details, you can get an estimate of the maximum loan amount you may qualify for, enabling you to make more informed decisions about your home purchase.Other Financial Considerations
The amount of deposit you’ve saved, your credit score and your repayment history are also assessed by lenders. A low credit score is a major concern for lenders, and if you miss payments frequently, that’s a red flag. ) [1870] => stdClass Object ( [post_id] => 32668 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>By adding someone to your property title, you're essentially giving ownership rights and control over your home to them.
Make sure you understand the consequences of your decision beforehand to avoid murky water in the future.
Here are a few general questions you should answer before you add in your partner's name to your property title:
We have mortgage brokers who specialise in refinancing home loans. We can help you add your partner to your property title and get a better deal when switching your mortgage.
You can call us on 1300 889 743 to speak with one of our brokers or enquire online for a free assessment.
) [1871] => stdClass Object ( [post_id] => 65850 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Is Negative Gearing Still Worth It?
Whether negative gearing is a good investment strategy for you is a decision you should make based on your circumstances and needs, with the advice of an expert mortgage broker. That’s why our Home Loan Experts are here. Call us at 1300 889 743 or fill our free enquiry form so we can help you learn more about the best investment strategy for you. ) [1872] => stdClass Object ( [post_id] => 1057 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => There are many different reasons why a bank may request an accountant’s letter so there are many different templates that you may need to use. Below, we have included text that you may need for the most common accountant letters. Due to privacy legislation, many accountants won’t talk to the bank directly or to your mortgage broker, so you’ll have to request your accountant to write a letter for the bank. By providing them with the template, they’ll have less work to do, write the letter faster and charge lower fees, if any at all. Below are some circumstances that banks commonly ask for clarity around.Business Not Trading
We confirm that to the best of our knowledge Smith Family Printing Pty Ltd is no longer trading and has no liabilities of significance.One-off Expenses
We confirm that Smith Family Printing Pty Ltd had a bad debt to their largest client in the 2015/2016 financial year which they were forced to write off. This is a one off event and is unlikely to occur again. It would be appropriate to add back this expense when calculating the customer's ability to service a new loan.Change In Income Between Financial Years
The profit generated by Smith Family Printing Pty Ltd significantly increased between the 2014/2015 and 2015/2016 financial years. This is because John Smith was not working for over 6 months of the year due to a personal issue that required his attention. For this reason, it would be appropriate to use the figures from the 2015/2016 financial year when assessing John's ability to service a new loan.Change In Income Due To Start Up Expenses
The profit generated by Smith Family Printing Pty Ltd has significantly increased between the 2008/2009 and 2009/2010 financial years. This is because 2008/2009 was the first year of the businesses operation and so there were one off start up expenses, initial advertising costs and a smaller existing customer base. For this reason, it would be appropriate to use the 2009/2010 financial years income to assess John's ability to service a new loan. Based on recently lodged BAS and independent inquiries with the director, it would appear that this level of income is likely to continue or increase.New Business In The Same Industry As A Previous Job
We confirm that John Smith was previously employed as an IT consultant for 10 years before starting his own business in the same industry. Although John's business has only been trading for one year, it has already generated a substantial income and has a loyal customer base. Based on enquiries with the director and recently lodged BAS, it would be reasonable to expect the income from John's business in the next financial year to be equal to or better than that in the most recent 2009/2010 financial year.Contractor With No Major Expenses
We confirm that John Smith is operating as a sole trader that contracts to an IT business. He is paid an hourly contract rate and has no major expenses such as staff, tools or rent that other types of businesses may incur. For this reason, it would be reasonable to assess his income in a similar method to that of someone who is employed on a PAYG basis.Change In ABN / Business Structure:
We confirm that Smith Family Printing Pty Ltd is the same business that was previously using John Smith's sole trader ABN. Although this is a new entity, the business is essentially the same. John has been self employed in this business for over 6 years. For this reason, it would be reasonable to assess these two entities as the same business when assessing John Smith's ability to service a new loan.Family Employees
We confirm that Anna Smith is employed by Smith Family Printing Pty Ltd which is owned by her father John Smith. She's been working for Smith Family Printing Pty Ltd for only four months and as such there has been no group certificate issued. We confirm that her income is $40,000 p.a. as shown on her payslips. Check out the family job home loan page for more information.Loan Purpose Confirmation
We confirm that to the best of our knowledge John Smith is using the proposed loan from ABC Bank to invest in shares.Discretionary Trust Distributions
We confirm that John Smith is the sole director and shareholder of the trustee company and also the appointer for his discretionary trust. He has full control of the current and future distribution of income from the trust. He has chosen to distribute income from the trust to his mother and his sister to reduce his taxable income. Check out the discretionary trust page for more information.Complicated Ownership Structure
Check out this word doc for a full example template.Low-doc Loan Accountants Letter (Example 1)
Re: John Smith, I have acted as an accountant and tax agent for the above mentioned client since 1/1/2010. The client is involved in the IT consulting industry. The income stated by the applicant, John Smith, on the self-certification form of $100,000 p.a. is gross profit after expenses and before income tax, is considered to be in line with previous financial year's income level. If you have any further queries please do not hesitate to contact me on 02 0000 0000. Check out the low doc loan page for more information.Low-doc Loan Accountants Letter (Example 2)
I understand that the Borrower has applied for a loan of $100,000, through ABC Bank, repayable by monthly instalments of $416.66 over 30 years at an interest rate of 5.00% per annum variable interest only. I know the Borrower's income and expenditure and, based on that knowledge and my understanding of the Borrower's financial position, I am of the opinion that the Borrower is able to repay the loan in accordance with its term and can do so without substantial hardship. I am not aware of any factors which may affect the Borrower's ability to make the repayments or which may cause substantial hardship to the Borrower to make repayments. I confirm that the Borrower is a registered tax payer with the Australian Taxation Office ('ATO') and have lodged their most recent tax return for ATO assessment of income tax.For more information, please refer to our low doc loan with an accountant's letter page.
There are many more situations where the lender may require a letter from your accountant.
We always try to discuss your situation with the lender's credit manager to try to avoid wasting your accountant's time by requesting a letter.
Some lenders, for example Rams Home Loans, La Trobe Financial, Pepper Home Loans or MKM Capital, have their own low doc loan accountant letter template for you to use.
If you're having trouble drafting a suitable accountant letter, please call us on 1300 889 743 or enquire online for assistance.
) [1873] => stdClass Object ( [post_id] => 1075 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Use this mortgage gift letter template if your lender has specifically asked for a statutory declaration.
Please note that some lenders such as Suncorp have their own statutory declaration template.
If you're unsure what template to use, please call us on 1300 889 743 to discuss.
) [1874] => stdClass Object ( [post_id] => 13939 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Real estate that has a mixed purpose does not always fall under commercial lending.
Rural and residential mixed use property can often be bought with a residential home loan from a number of our lenders.
Some of our lenders will accept land up to 50 hectares and offer residential rates.
Most lenders will assess properties that have commercial elements such as retail, office space, industrial or manufacturing as commercial properties.
However, if the property is a converted terrace, it may still be used as a residential property.
In these cases, we may be able to help you to obtain a residential loan.
A residential loan has a lower rate, lower fees and a longer term than a commercial loan.
Our brokers are experienced with both commercial and residential loans.
We’re able to assess your situation and determine which type of loan will best suit your needs.
Call us on 1300 889 743 or complete our free assessment form to see how we can help you.
) [1875] => stdClass Object ( [post_id] => 48098 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Despite the great benefits, buying unregistered land has inherent risks which should be considered before signing the contract, such as:
How long does the titling process take?
When you sign a Contract of Sale with the vendor (seller), they will inform you of the expected title date.
The titling process usually takes anywhere between 12-18 months before the developers have transferred the title and are ready to build.
It is a long process and delays with construction, adding utilities, council delays, and bad weather should be factored in.
With land in such high demand, particularly in and around metro locations, people are purchasing untitled land from developers and this boom has increased the time it takes for land to be titled.
When is the earliest a bank can do a valuation?
After the council has registered the land with the Land Registry, the developer will inform you that your land is ready to be titled.
If you’ve already gotten pre-approval with a lender, they will order a valuation of the land.
It is always advisable to apply for a home loan once you’re less than 3 months away from the settlement date as indicative approvals only last for 3 to 6 months.
You should seek legal advice from a conveyancer to help you transfer the land title from the developer to you.
Once the date has been set for the land title to be transferred, you can exchange the contract and move to land loan settlement..
Give us a call on 1300 889 743 or fill in our online assessment form to find out if you qualify for a vacant land loan.
) [1876] => stdClass Object ( [post_id] => 35019 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>You and your parents will be required to get independent legal and financial advice.
At the end of that process, you’ll need to provide a signed agreement between you and your parents specifying the loan conditions and repayment schedule.
Please speak to one of our mortgage brokers about this. We can provide you with a template that will be accepted by the lender.
How is the loan secured?
The loan itself will be secured by a second mortgage or caveat behind your home loan. Bear in mind that while the lender will consent to a second mortgage, they won't consent to the conditions on a caveat.
It's not the same as a shared equity loan!
Your parents don't take a share of ownership in your property even with the second mortgage. All rights and responsibilities associated with the property are yours.
The good news is that your parents won't require a credit check when securing their loan with a second mortgage.
Be careful of your borrowing power!
Not only will you be assessed on your ability to afford your home loan but the lender will take into account your repayments on your parents' loan.
If you have a stable job, minimal debt and you’re earning enough to afford the home loan plus your repayments on your parent's loan, you should be approved.
We can help you to put your application together so you get approved the first time. Please call us on 1300 889 743 or complete our free assessment form today.
) [1877] => stdClass Object ( [post_id] => 83787 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Do you need a home loan to pay out your divorce settlement? Our mortgage brokers are experts in divorce mortgages and can help you get approved at a great interest rate.
Please call us on 1300 889 743 or enquire online to find out how we can help you.
If you still have questions, feel free to comment below and we’ll get back to you as soon as possible.
) [1878] => stdClass Object ( [post_id] => 35791 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Do you need a home loan to pay out your divorce settlement? Our mortgage brokers are experts in divorce mortgages and can help you get approved at a great interest rate.
Please call us on 1300 889 743 or enquire online to find out how we can help you.
If you still have questions, feel free to comment below and we’ll get back to you as soon as possible.
) [1879] => stdClass Object ( [post_id] => 83856 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => There are many different reasons why a bank may request an accountant’s letter so there are many different templates that you may need to use. Below, we have included text that you may need for the most common accountant letters. Due to privacy legislation, many accountants won’t talk to the bank directly or to your mortgage broker, so you’ll have to request your accountant to write a letter for the bank. By providing them with the template, they’ll have less work to do, write the letter faster and charge lower fees, if any at all. Below are some circumstances that banks commonly ask for clarity around.Business not trading
We confirm that to the best of our knowledge Smith Family Printing Pty Ltd is no longer trading and has no liabilities of significance.One-off expenses
We confirm that Smith Family Printing Pty Ltd had a bad debt to their largest client in the 2015/2016 financial year which they were forced to write off. This is a one off event and is unlikely to occur again. It would be appropriate to add back this expense when calculating the customer's ability to service a new loan.Change in income between financial years
The profit generated by Smith Family Printing Pty Ltd significantly increased between the 2014/2015 and 2015/2016 financial years. This is because John Smith was not working for over 6 months of the year due to a personal issue that required his attention. For this reason, it would be appropriate to use the figures from the 2015/2016 financial year when assessing John's ability to service a new loan.Change in income due to start up expenses
The profit generated by Smith Family Printing Pty Ltd has significantly increased between the 2008/2009 and 2009/2010 financial years. This is because 2008/2009 was the first year of the businesses operation and so there were one off start up expenses, initial advertising costs and a smaller existing customer base. For this reason, it would be appropriate to use the 2009/2010 financial years income to assess John's ability to service a new loan. Based on recently lodged BAS and independent inquiries with the director, it would appear that this level of income is likely to continue or increase.New business in the same industry as a previous job
We confirm that John Smith was previously employed as an IT consultant for 10 years before starting his own business in the same industry. Although John's business has only been trading for one year, it has already generated a substantial income and has a loyal customer base. Based on enquiries with the director and recently lodged BAS, it would be reasonable to expect the income from John's business in the next financial year to be equal to or better than that in the most recent 2009/2010 financial year.Contractor with no major expenses
We confirm that John Smith is operating as a sole trader that contracts to an IT business. He is paid an hourly contract rate and has no major expenses such as staff, tools or rent that other types of businesses may incur. For this reason, it would be reasonable to assess his income in a similar method to that of someone who is employed on a PAYG basis.Change in ABN / Business structure:
We confirm that Smith Family Printing Pty Ltd is the same business that was previously using John Smith's sole trader ABN. Although this is a new entity, the business is essentially the same. John has been self employed in this business for over 6 years. For this reason, it would be reasonable to assess these two entities as the same business when assessing John Smith's ability to service a new loan.Family employees
We confirm that Anna Smith is employed by Smith Family Printing Pty Ltd which is owned by her father John Smith. She's been working for Smith Family Printing Pty Ltd for only four months and as such there has been no group certificate issued. We confirm that her income is $40,000 p.a. as shown on her payslips. Check out the family job home loan page for more information.Loan purpose confirmation
We confirm that to the best of our knowledge John Smith is using the proposed loan from ABC Bank to invest in shares.Discretionary trust distributions
We confirm that John Smith is the sole director and shareholder of the trustee company and also the appointer for his discretionary trust. He has full control of the current and future distribution of income from the trust. He has chosen to distribute income from the trust to his mother and his sister to reduce his taxable income. Check out the discretionary trust page for more information.Complicated ownership structure
Check out this word doc for a full example template.Low doc loan accountants letter (Example 1)
Re: John Smith, I have acted as an accountant and tax agent for the above mentioned client since 1/1/2010. The client is involved in the IT consulting industry. The income stated by the applicant, John Smith, on the self-certification form of $100,000 p.a. is gross profit after expenses and before income tax, is considered to be in line with previous financial year's income level. If you have any further queries please do not hesitate to contact me on 02 0000 0000. Check out the low doc loan page for more information.Low doc loan accountants letter (Example 2)
I understand that the Borrower has applied for a loan of $100,000, through ABC Bank, repayable by monthly instalments of $416.66 over 30 years at an interest rate of 5.00% per annum variable interest only. I know the Borrower's income and expenditure and, based on that knowledge and my understanding of the Borrower's financial position, I am of the opinion that the Borrower is able to repay the loan in accordance with its term and can do so without substantial hardship. I am not aware of any factors which may affect the Borrower's ability to make the repayments or which may cause substantial hardship to the Borrower to make repayments. I confirm that the Borrower is a registered tax payer with the Australian Taxation Office ('ATO') and have lodged their most recent tax return for ATO assessment of income tax.For more information, please refer to our low doc loan with an accountant's letter page. There are many more situations where the lender may require a letter from your accountant. We always try to discuss your situation with the lender's credit manager to try to avoid wasting your accountant's time by requesting a letter. Some lenders, for example Rams Home Loans, La Trobe Financial, Pepper Home Loans or MKM Capital, have their own low doc loan accountant letter template for you to use. If you're having trouble drafting a suitable accountant letter, please call us on 1300 889 743 or enquire online for assistance.
) [1880] => stdClass Object ( [post_id] => 76346 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => By adding someone to your property title, you're essentially giving ownership rights and control over your home to them. Make sure you understand the consequences of your decision beforehand to avoid murky water in the future. Here are a few general questions you should answer before you add in your partner's name to your property title:
) [1881] => stdClass Object ( [post_id] => 33313 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => One solution is to use a loan known as a ‘property share loan’. This has some unique features:
Example: Suppose a brother and sister buy a house together for $1,000,000. The sister has a deposit of $200,000.
The brother has no deposit but a higher income.
They may own the property 50% each yet the sister has a loan of $300,000 and the brother has a loan of $500,000, both secured on the property.
Do you need help with your home loan? Our mortgage brokers are experts in helping people with unusual ownership structures.
Call us on 1300 889 743 or fill in our free assessment form and we’ll get back to you with some options.
) [1882] => stdClass Object ( [post_id] => 73973 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Are you looking to buy a property in Australia? Our mortgage brokers are here to help. You can borrow up to 95% of the property value even as a New Zealand citizen residing in Australia. Call us on 1300 889 743">1300 889 743 or enquire online today.
) [1883] => stdClass Object ( [post_id] => 23214 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Do you need a deposit?
You don’t need a deposit but in some cases, you may need to prove that you have at least 5% in genuine savings.
For example, if the property is valued at $500,000 and your parents sell the property to you for $475,000, you’re borrowing 95% of the property value and you’d need to show that you have at least 5% of $475,000 ($23,750) in a savings account.
At 90% of the property value ($450,000), you won’t need to prove genuine savings. Better yet, if your parents sold the property to you at 80% of the property value ($400,000), you can not only avoid genuine savings but LMI as well.
We specialise in favourable purchase home loans so we may able to get you approved to borrow 105% of the purchase price including stamp duty and legal fees.
Discuss your situation with one of our brokers and discover if you qualify by calling 1300 889 743 or by completing our free assessment form today.
) [1884] => stdClass Object ( [post_id] => 43847 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>No Unusual Characters Or Unnecessary Words
Avoid using unusual characters such as question marks, exclamation marks, hashtags or star symbols.
For example, "10/22 - 24 George St, NSW - Holding Trust" is not a good name as some bank and other organisation systems cannot handle the symbols '/' and '-'.
On that note, avoid words that simply add more length to the trust name such as 'the'.
Don't Use The Word "Trustee"
If your trustee is a company, the trustee name cannot have the word "trustee" in it.
For example, "Steven Harris Trustee Company Pty. Ltd" is not a legal name.
Don't Use The Word "Development"
Using the term "development" or "development trust" will cause many lenders to assume you're a developer and decline your home loan.
The only exception is if you require a commercial loan to buy commercial real estate or land with the view to develop commercial or residential property.
This will require a solid business plan and you'll need to be in a strong financial position to be considered for a loan.
If this is you, please call us on 1300 889 743 or complete our free assessment form today.
Avoid A Numbering For Multiple Trusts
Numbers are ok but try to avoid doing this for the purposes of keeping track of multiple trusts.
It's common, for example, for someone to have multiple SMSFs for asset protection reasons.
However, let's say you were to get divorced or sued by a tenant of one of your residential or commercial investment properties held by the SMSF.
If the property your wife or tenant resides in is held by "Dawson Super Fund No. 2", the obvious question becomes where is 'Dawson Super Fund No. 1"?.
What this means is that you could find yourself taken to court and claims being made for a larger settlement if they find that you have more assets.
You can still be descriptive and differentiate between your trust names by using a short descriptor such as "Dawson Retirement Trust", "Dawson Property Fund" or "Dawson Family Trust".
You should seek advice from your accountant regarding setting up the right trust structure for you and whether you'd like to change your structure in any way such as appointing a new trustee.
Avoid Terms Associated With "Real" Companies
ASIC sets out clear guidelines as to what terms a trust can and can't use.
Specifically, you need to have certain corporate and company licenses and be engaged in certain activities in order to use the following terms:
Similarly, if you've set up a corporate trustee, you cannot have the words 'trust' or 'trustee' in the trust name.
There needs to be a clear legal separation between a trust, an operating company and a company set up for tax purposes.
Avoid Names Related To Criminal Activity
Banks and lenders are always trying to tighten their fraud detection capabilities so avoid using a name that is related to organised crime or criminal activity.
For example, if your last name is Escobar, your 'Escobar Family Trust" may get flagged as a criminal entity related to Pablo Escobar.
This is obviously a joke but you can see how the bank may take this quite seriously. Your home loan application may even be knocked back.
In NSW, for instance, organisations listed in the Crimes (Criminal Organisations Control) Act 2012 are automatically highlighted by sophisticated bank systems.
) [1885] => stdClass Object ( [post_id] => 290 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
What Are The Lending Criteria For No-Deposit Loan?
Here’s what lenders look at when assessing your no-deposit home loan application:) [1886] => stdClass Object ( [post_id] => 35272 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Get Legal Advice From A Professional
Taking out a home loan with a guarantor is a crucial decision and comes with much responsibility. Whether you are checking to see if you can be a guarantor or want to know if someone is eligible to be a guarantor for you, we recommend that you seek advice on guarantor loan requirements from both legal and financial professionals before deciding to proceed. Our mortgage brokers specialise in handling guarantor loans. You can call us on 1300 889 743 or complete our free online assessment form to find out how we can help you. ) [1887] => stdClass Object ( [post_id] => 5844 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you and a friend own an investment property worth $500,000 with a loan of $400,000 on it, then how will the banks assess your situation if you then decide to buy another property on your own?
If the repayments for the loan with your friend were $3,000 / months and the rent income was $2,000 / month then surely the bank would use half of these figures in their assessment for your new loan?
Unfortunately this is not the case.
Banks assume the worst, and so will assess your loan as if you’re making the full $3,000 / month in repayments, however they will only accept half of the rent income!
Thankfully not all banks have this policy! Two of our lenders can consider your actual share of the repayments and rent and as a result will assess your new home loan less conservatively.
Please call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers will call you to see if you qualify under this policy.
) [1888] => stdClass Object ( [post_id] => 3900 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Even if you have defaults on your credit history, we can still get a specialist lender to consider your application, however you will have to pay a higher interest rate and you cannot borrow more than 80% of the value of your property.
If you are serious about getting a home loan, then talk to one of our mortgage brokers who specialises in helping people who are on worker’s comp. Simply enquire online or give us a call on 1300 889 743 to discuss your situation.
) [1889] => stdClass Object ( [post_id] => 33333 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Check out the interest rate specials that are available from some of our lenders.
Some of these discounts are off-market, in other words, they are ones we have already negotiated for certain loan size and they're not available to the general public.
You can call us on 1300 889 743 or fill in our free assessment form to find out how our mortgage brokers can help you to get a better deal.
) [1890] => stdClass Object ( [post_id] => 29159 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Are you just buying the land
With many farming industries across Australian either booming or in a stable position thanks to the so-called ‘dining boom’, you can earn a steady income as a landowner.
Like any other commercial purchase though, it’s essential that you run over the last few years financials of your tenants with your accountant.
Be wary of tenants that are reluctant to provide certain financial statements: it’s usually a red flag that something’s not right.
Lease terms.
Farm leases can vary but one thing to keep in mind is that longer leases can potentially pose a high risk to your return on investment.
Much of this has to do with the unique effect of weather and climate farm businesses compared with other types of industries.
For example, if the price of land were to increase during the period of the lease, you could miss out on capital gains.
On the flip side, it’s likely the farmer could have a poor season over such a long term and may not be able to meet their rent, leaving you in search of new tenants.
Setting the rental price.
Deciding on the cost of the lease comes down to a number of factors including:
It’s a good idea to research past prices, seasons and yields and draw up a budget to determine a fair price for both you and your lessee.
Are you running the farm yourself?
In a freehold going concern arrangement, you own both the leasehold and the freehold which means banks may be willing to allow you to borrow at a higher LVR.
The reason is that the land itself is a real estate asset and can be taken as security, along with the profitability of the business, when the lender values the farm.
Compared to other commercial ventures, a lot of what’s involved in running a successful farm is out of your control and in the hands of the seasons (the weather), markets and fluctuating running costs.
In fact, recent industry estimates put farm returns at an average of 1.5-2% excluding capital gains.
That means in order to generate enough to make your commercial loan repayments and make improvements to the property, you’ll likely need to diversify your business.
Relying on just being a carrot farmer, for instance, is a major risk because if you were to have a bad season: it could easily see your business fail in the first year.
Have you considered:
These are just some of the diversification strategies you can employ. You can read more about it on the Victoria Agriculture page.
Other tips:
How can a specialist solicitor help me?
Did you know that there are solicitors that specialise in the purchasing of farmland and rural commercial properties?
They can help you run a thorough check on both the Contract of Sale and the property title.
There are many questions they can help you answer such as the following.
Are there easements or rights of way that may run through the property that will prohibit the types of activities and building projects?
Easement agreements still stand even if the right of way hasn’t been used for a while.
Are all services installed on the property including power, water, sewerage and a telephone line?
Many commercial farms don’t have the luxury of these basic types of infrastructure so it’s important you consider whether these features are essential to you. The costs of installing them in the future can be expensive.
Are there any carbon, conservation, heritage or other caveats or covenants on the property?
Again, this can hinder the type of agricultural activities that you can undertake.
Does the contract include any licenses such as water usage?
Have the current owners implemented measures to control noxious pests and plants?
What type of farm do you want to run?
Farm loans cover most farming industries depending on the strength of the applicant but it’s still really important to consider what your strengths are.
Firstly, look at particular activities that you have an interest in, such as raising chickens for the purposes of producing eggs, animal husbandry, particularly as it applies to cattle, or producing dairy products such as milk and cheese.
It may be that you already have experience in a particular field of farming but the point is that you need to be aware of what you’re getting into.
Undertaking a short TAFE or university course on the type of farming you want to do will give you a good perspective and essential skills on what’s in store.
Each type of farm has different workloads and they each require varying amounts of capital to get them up and running. On that note, the second consideration you’ll have to weigh is up is how much profit you’re expecting to generate.
Farms operate within their own unique market and they’re largely at the mercy of the seasons, the resources you have available on the land and your own skills.
Some of the most popular types of farms in Australia include:
Despite the above farms boasting the most commonly-produced primary products in Australia, it rarely makes sense to compete with these established markets when you’re starting out as a farmer.
Like other industries, businesses that thrive in commercial farming are the ones that operate in small niches or are able to carve out a niche of their own.
Some examples of this include:
Why location matters
When searching for land, you’ll likely have a budget for what you’re willing to spend.
Like buying a residential property, the important thing to remember is that it’s not only the size of the land that determines price - it’s the location itself.
Farms located in rural areas, many kilometres from the nearest city or major regional town tend to have cheaper price tags.
It sounds great on paper but it also means that you’re some distance away from essential services like shopping centres, schools, hospitals and veterinarians, the latter being crucial if you plan to raise animals.
It’s also crucial to understand what long distance travel will mean for transporting your livestock and produce to market: there’s not only fuel costs to consider but the amount of travel time involved.
In addition to this, every region across Australia will either support or be a detriment to the type of farming you want to undertake. For example, dairy farmers are generally located around these belts:
The environmental factors in these regions, including the average temperature and the nature of the rainy and dry seasons, best suit dairy farmers requiring green pastures for their cattle.
It doesn’t necessarily mean you can’t start a dairy farm in other regions, it just means you may need to compromise on the number of livestock you own, compensate for the limited rainfall with more irrigation and be prevented from growing certain vegetables and fruit.
What should I look for in the property?
As mentioned previously, you need to have a pretty clear vision of what you want to achieve from the farm with a solid business plan to back it up.
Buying land and then changing it to suit your needs takes time and a considerable amount of capital which you’ll need to make sure that other parts of the farm are in good working condition such as fences, barns, troughs and pastures.
In that sense, it’s better to choose land that’s right for the purposes you need it for from the beginning.
For grazing and grain production, for example, you’ll likely need several hundred hectares of land. With intensive farming business that sell products directly to customers, you can probably run a viable business on just 10 hectares or less.
Are you growing crops?
Look for:
Are you raising livestock?
Look for:
Have you checked the existing buildings on the property?
Apart from the dwelling itself, do a thorough inspection of sheds, fences, tracks, drains, yards, water pumps, water supplies (including tanks, dams, pipes, bores and troughs) and power supplies (location, single and three phase). Are you planning on living on the property? The dwelling isn't as important a consideration as the land itself since the commercial farm is going to be your main source of income and livelihood.
In saying that, a property that is livable and comfortable is something to think about, particularly as you transition yourself to getting up early and working long days. It always helps to be close to work and in a comfortable home.
Quality of the buildings on the property is one thing but what catches a lot of new commercial farmers out is not ensuring that structures have been council approved.
Organise to have an inspection undertaken prior to committing to a purchase because you may find that your operation will be shut down by a government official in the future.
In addition to checking that the existing infrastructure meets federal and council regulations, the structures and buildings (such as barns and water tanks) included in the sale of the property should be clearly marked on the first page of the Contract of Sale.
A solicitor who specialises in commercial farms can help you draft up a Contract of Sale that is favourable to both you and the vendor.
What are the legal requirements of running a farm?
Legislation involved in owning farmland is split between the federal and state government as well as the local council in which your rural property is located.
The federal government sets rules for taxation, trade and commerce, important factors from a business perspective.
It’s when you start getting to the state government level though that you get into regulations concerning conserving land and native vegetation, water management, animal welfare, livestock tagging and controlling noxious weeds and pests.
Lastly, local council are concerned with planning so they will govern what type of structures you can build and the renovations you can undertake.
The reason why these laws are in place is to ensure that the land stays healthy and rich over the long-term so farming can continue into the future.
What are the zoning requirements?
Farming Zones are designed to ensure that the land is used and maintained for the purposes of agricultural activities.
Part of the requirements for farming zones includes the practice and implementation of land management measures.
Although non-farm activities are discouraged, you may be allowed to do the following on your commercial farm although restrictions and permit requirements apply:
Overall, there is a general need to protect and enhance the biodiversity of the environment surrounding the farm, including the retention of native flora and fauna.
For specific zoning requirements for your location, it’s essential you speak with the local council.
Livestock care
Ensuring that your animals are healthy not only makes good business sense, it’s also a legislative requirement under the Animal Care and Protection Act 2001.
As the farm manager, you’re responsible for providing for an animal’s food, water and living needs, as well as implementing controls to protect them from predators and exercising euthanasia where appropriate.
In relation to care and food, water troughs should be fixed in position and must allow easy access for multiple animals at once.
It’s also essential to make sure that stock (especially the young) are familiar with watering points and the location of shaded areas on the property.
Adequate shade can be anything from trees on your property to shelters you construct using shade cloth, corrugated iron or timber. Beware of animals all huddling in the one spot when there are other shade sources available.
Signs of heat stress include:
The duty of care codes mentioned above are voluntary but adherence to these requirements can provide a defense against animal cruelty charges.
There are specific guidelines for the care of cattle, goats, honey bees, horses, pigs, poultry, rabbits, sheep and non-indigenous animals like camels, bison, water buffalo and llamas.
The NSW Department of Primary Industries’ Agriculture agency has great resources and tips if you’re planning on keeping any of these types of animals on your commercial farm.
Another important thing to keep in mind is the National Livestock Identification System (NLIS), Australia’s scheme for the identification, tracking and tagging of animals used in primary industries like agriculture and farming.
You can find more information about the NLIS here.
Other questions you may want to consider when researching locations include:
You can find more great information on animal care and drinking rates on the Animal Health Australia (AHA) and Australian Animal Welfare Strategy (AAWS) websites.
Water and drought management
Water scarcity and drought is simply a reality of running a commercial farm.
You can’t always rely on rainfall but there are steps and measures you can take to ensure that you have enough water for your livestock and your wider agricultural activities.
This is by no means an exhaustive list but some things for you to consider are:
Land management
Under the Environment Protection and Biodiversity Conservation Act 1999, farmers undertaking new farm activities should be aware of:
If you’re planning to undertake major changes to the land like land clearing, check first by calling the Department of the Environment on 1800 110 395.
Their website has a map letting you know whether matters of national environmental significance are likely to occur in the area in which your agribusiness is located.
While these are factors are in the national interest, there are also biosecurity factors to consider.
Biosecurity refers to keeping people, animals and plants/crops free of noxious weeds, pests and disease.
It plays an important role not only on your farm but in the prevention of disease outbreaks across the wider farming community. Biosecurity measures don't necessarily have to be expensive either.
Some simple things you can do include:
It’s recommended that you speak to an agronomist to ensure that you’re using the land and its resources in a sustainable manner.
Bushfire prevention
Properly placed fuel breaks on your farm are a great way to stop the spread of low intensity bushfires or bushfires in their early development.
It also allows better access to volunteer firefighters and other emergency authorities to undertake firefighting activities.
Seasonal fuel reduction is highly recommended by all Australian fire authorities. You can create a ‘zone of protection’ on your commercial farm by:
Check with your relevant state government authority or the local council for more tips and guidelines on managing fire risk on your hobby farm. The NSW Rural Fire Service provides a great resource.
There may be tax concessions for running a farm
Your small scale farming operation may classify you as a primary producer for tax purposes and this can have a significant impact on your tax reporting requirements and qualify you for a tax concession.
The Australian Taxation Office (ATO) will firstly determine whether you’re running a business as opposed to a hobby farm. The next thing they will determine is whether you’re a primary producer.
If you are primary producer, you may be in a position to claim a tax reduction for any landcare operations you undertake such as erecting fences and gates, erosion control and drainage works to prevent soil salinity.
Other tax benefits include three-year write offs for the construction/installation of water facilities such as dams, tanks, nores, wells, irrigation channels, water towers, windmills, pipes and pumps.
Although the government does offer tax concessions, there are also capital gains tax (CGT) considerations that you need to be aware of when running a commercial farm.
For example, CGT applies on the sale, transfer and ending of water licences, allocations, quotas and entitlements because they’re considered as assets.
There are other tax implications and strategies to consider when running a commercial farm, including the deferring of profit on the forced disposal or death of livestock in the event of drought, fire, flood or the compulsory acquisition of land by the government.
It’s essential you speak to a qualified accountant and possibly a financial adviser before making any tax decision.
Seeking out advice is essential
Conduct an inspection of the farm with an experienced farm manager and find out what past owners used the land for.
Your neighbours are your best friends.
They can give you a really good idea about weather patterns for the region particularly when it comes to dry and wet seasons and average temperatures.
Apart from cultivation, by speaking with the locals you’ll also be able to get a sense of whether the location is the right place for you to stay commercially viable.
This page provides great tips but there is so much more information, guides and tools out there for you to take advantage of.
There are also plenty of associations across the country that host expos and open days and most of them are free to the public.
Check out your relevant state’s farmers association for more information:
What about equipment finance?
Unfortunately we cannot assist you with finance, lease or hire, to buy equipment, technology, vehicles (such as tractors) or any other asset you require for your farm business.
We do have plans to do so in the future because we recognise that farm technology and innovation will continue to be a focus for commercial farmers as they grow their enterprise.
Links to government agriculture departments
Call us today
Farming is one of Australia’s economic backbones but that doesn’t make it any easier to run a commercial farm and carve out your own successful agribusiness.
Luckily, our mortgage brokers are specialists in farm loans and we can definitely help on the finance side things and make the settlement process smooth.
We know how to properly assess your situation by asking the right questions and matching you with a commercial loan that best suits your business needs.
We’re with you every step of the way, from building a strong application, submitting the loan, reaching settlement and beyond, so call us on 1300 889 743 or complete our free assessment form today.
) [1891] => stdClass Object ( [post_id] => 59450 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>While referrals from friends and families are a great way to choose a broker, it is equally important that you do your own research.
Since each mortgage brokerage will have their own individual strengths, it will fall upon you to understand their strengths and shortlist a few through online research. There are certain things you should look out for when doing so.
Lender panel
A lender panel is a list of all the lender institutions whose loan products are accessible to a broker. Since the brokerage will only tie up with the lenders from their panel, it is advisable to look out for a good balance here. A good panel consists of at least 20+ lenders. It should include all the major four banks (ANZ, NAB, Westpac,Commonwealth Bank) with a combination of other specialist lenders, credit unions and second tier lenders that make up the rest
Quality of the lenders is key here. They must have a varied area of specialty and the ability to handle unusual cases. Most brokerages handle simple cases that can easily get approved, whereas some work on niche cases that are often overlooked by the major banks.
We, at HLE, have a dedicated lender panel of 50+ lenders with a good mix of banks and specialist lenders.We specialise in getting tough, unusual loans approved, and help clients that have been overlooked by the big banks.
Contact us today to find out how we can help you by filling a free assessment form or calling us at 1300 889 743
Broker qualification
Visit the mortgage broker’s website and check if all their brokers have the required qualifications to write a loan in Australia. The minimum educational requirement is a Certificate IV in Finance and Mortgage Broking along with either a FBAA or an MFAA compliance course.
A degree in finance, although not mandatory, is usually preferred as it shows an interest to delve deeper into the subject matter.
Also, check the years they have operated in the market. The longer a brokerage has worked in the industry, the better your experience is likely to be.
Home Loan Experts is the member of both FBAA and AFCA and upholds the highest professional standards in the mortgage industry. Our 14 year work experience in this industry has made us more equipped to understand loans and give the best service to our clients.
Online reviews and testimonials:
Reviews are a great way of double-checking the merit of a mortgage broker. Analyzing the feedback of happy or dissatisfied customers can help you evaluate the broker better. You could either go to their website and look at the testimonials/reviews or choose a third party review page like Product Review and Google Review to get unbiased feedback.
Our company is proud of having served thousands of happy customers in the span of the last 14 years. Since our priority is customer satisfaction, we make sure to go the extra mile to ensure loan approval. These testimonials from our clients will give you a better idea of how our mortgage brokers go above and beyond to help you seal the loan.
Understand industry jargons
While brokers generally don't expect you to understand the industry jargons, it would come handy to learn the basic ones. We have compiled a list of all the conversational industry-words that will give you an extra edge while dealing with a mortgage broker.
Many of these words are bound to appear in formal documents during the loan process. So save yourself the future trouble and have a quick look at it before contacting a mortgage broker.
One often forgotten aspect of selecting a mortgage broker is domain expertise, i.e. if you're an expat living overseas, you want a mortgage broker in Australia with experience dealing with expat loans.
) [1892] => stdClass Object ( [post_id] => 3378 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Because shift work is outside the usual hours of employment, banks believe that workers may not be able to handle the change in sleeping patterns or may decide to make a lifestyle change.
In particular banks do not like to accept any additional income earned during a night shift.
The reality is, banks simply don't understand shift work!
Bank employees work regular hours and view other types of employment as being unusual or risky.
The good news is that not every lender views your income in this way!
Please enquire online or contact us on 1300 889 743 to speak to one of our mortgage brokers who understands shift work and penalties.
) [1893] => stdClass Object ( [post_id] => 43251 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
You will be charged LMI if you borrow over 80% of the property value.
Lenders Mortgage Insurance can be quite costly; around $24,000 for a 90% loan on a $1,000,000 property.
A home loan with no LMI could save you literally thousands of dollars!
This is great for cash flow if you have big plans to rapidly grow your investment property portfolio.
If you're a mine surveyor, speak with one of our mortgage brokers by calling 1300 889 743 or by filling in our free assessment form today.
We'll let you know if you qualify for these significant discounts!
) [1894] => stdClass Object ( [post_id] => 33776 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
As mortgage brokers, we can’t help you choose a builder, but we can help you qualify for a building loan and get your construction loan documents sorted.
Many brokers, and even the banks, don't understand construction but we do!
Even if you're just looking to renovate, we can help you get access equity in your home to cover the costs.
Call us on 1300 889 743 or complete our free assessment form to speak to one of our expert brokers about your plans to build or renovate.
) [1895] => stdClass Object ( [post_id] => 68491 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you discover an unauthorised hard inquiry on your credit report, you can file a formal dispute and request that the hard inquiry be deleted. You file the dispute with the credit agency that has placed the inquiry on your report. The credit agency will be one of these:
The Process
If you’re not sure how to go about it, you can take help from a credit repair agency to assist you with claims removal and other actions that can help your credit score.
Our expert mortgage brokers can help to put you in touch with a good credit repair service. Call us on 1300 889 743 or fill out this free online assessment form.
You can track your request’s status through the credit agency’s dispute centre once you’ve submitted it. In most cases, the dispute resolution process will be completed within 30 days. The inquiry will not be erased from your credit record if it is found to be valid. However, if the investigation reveals that the inquiry was made in error or as a consequence of identity theft, it will be removed.
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Normally, if you borrow over 80% of the property value then the lender will charge you a fee known as LMI.
This can be quite expensive and works out to be around $24,000 for a 90% loan on a $1,000,000 property.
You could save a fortune by avoiding the costs of the LMI!
We'll let you know if you qualify so call us on 1300 889 743 or fill in our free assessment form to speak with one of our LMI waiver specialists.
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Many engineers or quantity surveyors who have been running their firm for a number of years may originally provided their own home as security for the loan.
If you're looking to now release that property, get a cheap interest rate or you're simply not happy with your current lender, we can help you make a switch that's in your best interest.
How can we help?
You may be wondering why you simply wouldn't stick with your current bank and apply for an engineering consultancy commercial loan.
The reason is that your bank will only offer you their own commercial loan products.
By using a specialist mortgage broker, we can build a strong application and "shop around" for with a number of different lenders and find one that can offer you the best deal for your situation.
The commercial arms of lenders are willing to negotiate heavily on interest rates and the LVRs (Loan to Value Ratio) they're willing to lend to just to get your business!
Call us on 1300 889 743 or fill in our free assessment form to speak with one of our expert commercial brokers today.
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Just give us a call on 1300 889 743 or fill in our free assessment form, and one of our specialist mortgage brokers will provide you with the best options available.
) [1899] => stdClass Object ( [post_id] => 65963 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Each lender has its own eligibility requirements when it comes to a refinance cashback offer. However, many include the option to refinance to a fixed or variable rate home loan.
Our award-winning brokers get tough loans approved
One of the most common problems people face when applying for a home loan is a shortfall between the purchase price of the property and the amount that the bank values the property for.
Banks and lenders will always have their own independent valuation completed to confirm the value of the property before accepting it as security for a mortgage.
What if the bank values your property for less than what you’re buying it for?
We can order valuations up front with over six lenders!
We can find out what the banks think your property is worth before applying with them.
This means that we won’t damage your credit report by having too many enquiries and there won’t be any nasty surprises, like having to come up with thousands of dollars to complete the purchase.
Talk to one of our specialist mortgage brokers about your situation and find out if you can get approved. Call us on 1300 889 743 or fill in our free assessment form.
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Our mortgage brokers love a challenge! We can usually find a solution to even the most complex and difficult situations.
This is because we have extensive knowledge of policy and know which lenders have flexible lending criteria. If you have been declined by the banks we can help to find other lenders who will approve your home loan.
Where your credit file is causing you difficulties, we will work with you to repair it and a find a lender who will accept your situation.
We don't give up! Speak to us on 1300 889 743 or complete our free assessment form and we will help you get the finance you need to purchase your dream home.
) [1903] => stdClass Object ( [post_id] => 69400 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => To best use a capital-growth strategy, you need an expert's help with the initial property research and structuring your investment loan. Call Home Loan Experts on 1300 889 743 or enquire online so that our brokers can help you acquire a suitable property for capital growth in your portfolio. ) [1904] => stdClass Object ( [post_id] => 19337 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
How can BBSW data help you?
The 90-day bank bill swap interest rate (BBSW) is often referred to as the benchmark rate or reference rate for market interest rates.
Generally speaking, if 90 day bank bill rates move up or down then it is likely that banks may move their rates in the near future.
Similarly, 3 and 5 year interest swap rates are a good indicator for what the market expects interest rates to do over the next 3 to 5 years.
We have compiled the data for you so you can track BBSW rate changes on a daily basis.
Do not base your financial decisions on BBSW rate changes alone!
Seek expert advice from one of our mortgage brokers by calling 1300 889 743 or enquiring online.
Can a mortgage broker predict interest rates?
The short answer is no, but a good broker can provide guidance to you as a borrower.
Forecasting isn’t an exact science because it is based on current market knowledge and historical data.
Fixing is always at your own risk!
Please see our fixed rate home loan page for handy tips on knowing when to fix your loan.
Our expert brokers are also here to help you make an informed decision so please call us on 1300 889 743 or enquire online.
) [1905] => stdClass Object ( [post_id] => 33246 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Call us on 1300 889 743 (+61 2 9194 1700 if you’re outside Australia) or complete our free assessment form to find out how we can help you.
What professions make up the skilled migrant list?
The following professions are listed on the SOL:
) [1906] => stdClass Object ( [post_id] => 29107 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Although saving a good deposit is typically the best way to get into the Australian property market, the scrapping of the FHSA scheme doesn’t have to stop you from getting a home loan.
If your parents or a close relative are willing to act as guarantor or gift you the money for the home loan deposit, you can get into your first home even faster!
The no deposit home loan page provides more info on getting approved and what other no deposit solutions are available to first home buyers.
Get help from a mortgage broker
Our mortgage brokers are credit specialists who understand how to get first home buyers approved for a home loan even if they have a low deposit or no deposit at all.
Call us on 1300 889 743 or complete our free assessment form to get in touch with one of our mortgage brokers.
) [1907] => stdClass Object ( [post_id] => 58530 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you’re considering buying an investment property or refinancing one with a nearby high voltage power line, please speak with one of our specialist mortgage brokers before doing so.
You can call us on 1300 889 743 or fill in our free assessment form.
) [1908] => stdClass Object ( [post_id] => 84402 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you're self-employed and wondering whether you can secure a home loan, our dedicated mortgage brokers want to help. They can assist you with your specific situation.
You can reach us at 1300 889 743 or complete our free online assessment form.
) [1909] => stdClass Object ( [post_id] => 47981 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Yes! It's common for logistics and transport business to purchase vehicles through sites like Trade Trucks, Truck World and Truck Sales. For other types of vehicles and equipment, lenders will generally only finance new assets. Trucks and trailers are instead viewed as work horses that have a longer road life and are usually retained by businesses for a longer time than a business car. Don't sign the sales contract until you have received an indicative approval from the lender subject to a valuation. Simply call us on 1300 889 743 or complete our online assessment form and tell us about the truck or trailer you want to purchase. ) [1910] => stdClass Object ( [post_id] => 942 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Trying to obtain finance for your discretionary trust? Speak to us on 1300 889 743 or enquire online and one of our expert mortgage brokers will get back to you!
) [1911] => stdClass Object ( [post_id] => 58177 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you’re a customer of Home Loan Experts and would like to discuss your options after the mortgage deferral ends, we strongly recommend that you speak to your mortgage broker. You can call us on 1300 889 743 or directly email your mortgage broker. If you’re not a Home Loan Experts customer, we strongly recommend that you speak with your bank directly.
) [1912] => stdClass Object ( [post_id] => 65126 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Home Loan Experts’ mortgage brokers can send you a list of property sales in most states for free. You may also be able to find comparable sales on real-estate websites. Check out easy-to-follow tips to estimate your property value by using comparable sales. To speak with one of our mortgage brokers, call 1300 889 743 or complete our free no-obligation assessment form.) [1913] => stdClass Object ( [post_id] => 5319 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Besides vendor finance, there are other options available that cater to your situation.
Are you outside of the bank's lending criteria. We know specialist lenders who can help. Call us on 1300 889 743 or enquire online.
) [1914] => stdClass Object ( [post_id] => 22309 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Acceptable properties need to be identified as residential in nature (apartment, unit or house) and subject to a sublease condition of 6 month permanent occupancy. When banks consider a property as security for a home loan, they need to be certain that they can sell it just in case you default on your mortgage. Most banks don’t really understand snow lease properties because there really isn’t a large market for it. Most people who purchase snow lease properties will use it for two or three weeks in the year, a weekend every so often and then rent it out for the remaining period. Because of the seasonal nature of snow lease properties and the occupancy restrictions, there is likely to be a fluctuation in tenants and, therefore, rental income. If you’re relying on rental income to pay off your loan, banks will always take a conservative approach. We’re experts in “out-of-the-box” property types and take a common sense approach when assessing your situation and investment strategy. Call us on 1300 889 743 or fill in our free assessment form to speak with one our mortgage brokers today.
) [1915] => stdClass Object ( [post_id] => 78001 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Ready to take the first step towards your dream home? Start by cultivating these smart financial habits recommended by our mortgage experts. Contact us today at 1300 889 743 to learn more or fill out our free online assessment form to get started on your path to homeownership.
) [1916] => stdClass Object ( [post_id] => 59592 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => We know which banks waive LMI for Chartered Accountants and offer discounted interest rates. Talk to our mortgage brokers by calling us on 1300 889 743 or filling in our assessment form and save thousands of dollars on your home loan. ) [1917] => stdClass Object ( [post_id] => 23425 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Lenders obviously prefer to finance the purchase of commercial properties as these loans tend to have the lowest risk.
However, with a few select lenders, it is possible to refinance a commercial property using a low doc loan.
Lenders tend to favour applicants who are releasing equity to buy more properties or invest in their business rather than applicants who are borrowing to cover cash flow shortages. If they see signs that your business is in decline then they will refuse your application.
Speak to our specialist mortgage brokers by calling 1300 889 743 or by filling in our free assessment form and we'll let you know how we can help.
) [1918] => stdClass Object ( [post_id] => 60586 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => This home loan FAQ is one that our brokers get almost all the time. The answer to this differs on a case by case basis. The lender's policy and how they assess your loan are the two determining factors. It is where you will need the assistance of an expert the most. Hence, you should reach out to your broker for assistance. You can call us on 1300 889 743 for our assistance even post-settlement.) [1919] => stdClass Object ( [post_id] => 66049 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Now that you understand how cash rate and interest rates are related, you should ensure that you get the best rates in the market and appropriate home loan features for your unique situation. We can help you get competitive interest rates. Speak to a Home Loan Experts mortgage broker on 1300 889 743 or complete our free online assessment form. [wbcr_snippet id="72598"] ) [1920] => stdClass Object ( [post_id] => 361 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
The documents required to get approved for a full-doc self-employed home loan are:
What If I Can’t Provide Certain Documents?
If a full-doc application is not possible, low-doc options are available. Most lenders will accept a declaration confirming your income. The lender can then assess your loan using the declared income.
For more information see our low-doc home loans section and our alternative income verification page, or complete our free online assessment form. Our expert mortgage brokers will help you find a great lender and a competitive loan package. Speak to us today on 1300 889 743!
Why Choose Home Loan Experts For Self-Employed Home Loans?
At Home Loan Experts, we specialise in helping self-employed borrowers because we understand the unique challenges and complexities involved. Here’s why you should choose us:
Expertise In Self-Employed And Low-Doc Loans
Self-employed home loans require a level of understanding and finesse that goes beyond standard PAYG borrower requirements. These loans demand extensive income documentation, including individual and business tax returns, company financials, and Notices of Assessment (NoA). Our team excels in managing these intricate applications, ensuring a smooth and efficient process for our clients.
In-Depth Understanding Of The Self-Employees’ Needs
We recognise that self-employed borrowers have distinct finances. Our expert brokers’ deep knowledge and experience in this field allow us to navigate the specific challenges you face. Unlike staff at traditional banks, our brokers have firsthand experience working for themselves and running businesses. This unique perspective enables us to provide tailored solutions and comprehensive guidance.
Tailored Solutions And A Personalised Approach
Our mortgage brokers are equipped to offer solutions specifically designed for self-employed individuals. We take the time to understand your unique circumstances and provide a personalised approach that aligns with your needs.
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Depending on where they obtain the funds they lend out, lenders have different cost of funds for commercial finance. This means that the lenders with the lower risk will, of course, have lower interest rates.
Most lenders have a risk matrix used to price larger commercial loans. This matrix is quite different from a smaller commercial finance, where the size of the loan is considered the main determiner of the interest rate and fees.
The risk matrix for a bigger commercial finance generally includes:
Want to know if you qualify for a low interest rate?
Call us on 1300 889 743 or fill in our free online assessment form and speak with one of our mortgage brokers who specialise in commercial property loans.
) [1922] => stdClass Object ( [post_id] => 54827 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Koby Hort and Summer Hort expressed their gratitude and willingness to again work with brokers from Home Loan Experts in the future.
The couple left a five star review for Vivenne for being an excellent mortgage broker.
Our mortgage brokers have worked at the credit department of many banks and specialist lenders so they understand exactly how lenders assess bad credit home loan applications.
Talk to one of our bad credit mortgage brokers by calling on 1300 889 743 or complete our free assessment form today.
) [1923] => stdClass Object ( [post_id] => 70129 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Note: Other fees and costs will be incurred when applying for a home loan. Use our LMI calculator to input your own loan amounts. If you want to discuss exactly how much you can save, you can call our brokers on 1300 889 743 or enquire online today.
) [1924] => stdClass Object ( [post_id] => 70024 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => (Note that these aren’t exact figures and only give a general idea.) Waived LMI makes it easier for you to save money for other important expenses, like investing in multiple properties. Use our LMI calculator to find how much you could save. Home Loan Experts can help certified gynaecologists secure attractive interest rate discounts and several other benefits. Simply fill in our free assessment form or call us directly on 1300 889 743.
) [1925] => stdClass Object ( [post_id] => 1595 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
It's quite simple to set up your mortgage so that it's salary packaged.
Follow these simple steps, and you can sort this out in no time:
Disclaimer: We suggest you seek financial advice if you have a more complex situation with additional expenses that have been salary sacrificed or investment properties that may affect your tax position.
Want a better interest rate?
If you're looking to salary package your mortgage and want to get the best interest rate possible on your existing loan, please call us on 1300 889 743 or fill in our free online assessment form, and our mortgage brokers will help you find the right lender!
) [1926] => stdClass Object ( [post_id] => 54290 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Some lenders have temporarily placed a ban on certain industries that were affected by the coronavirus the most such as:
However, if you can provide a detailed explanation of consistency in income, along with the latest 3 months bank trading statements, annualised turnover and ensure the business is trading at the same level as the previous financial year, we might be able to help.
Please call us on 1300 889 743 or fill in our free assessment form. Our mortgage brokers will find you a tailored solution.
) [1927] => stdClass Object ( [post_id] => 33641 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>It can sometimes be hard to see the big picture when it comes to property investing, especially if you're new to the game.
Generally speaking, a sustainable portfolio is all about balance. If you have some negatively geared properties in your portfolio, aim to balance it out with positively geared properties to offset the losses.
Overall, it's important to surround yourself with experts including a financial adviser and a mortgage broker, as well as learn and form ties with people who have gone down the investment path before you.
There's a lot of noise out there but eventually, you'll learn to find the sweet spot in the level of risk you're willing to bear and what to choose when it comes to negative gearing vs positive gearing.
We can't advise you on property investment but we can help you qualify for an investment loan that's competitively-priced.
Lender choice is essential when it comes to supporting your investment strategy and we have around 50 lenders to choose from.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
[wbcr_snippet id="72387"] ) [1928] => stdClass Object ( [post_id] => 48231 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>A lot of investors are buying property interstate as the properties in their own locations are not performing well or the higher entry price is locking them out of the market.
Doing your due diligence and research when buying an investment property interstate can help you minimise your risks and maximise your returns.
Give us a call on 1300 889 743 or fill in our online assessment form to find out if you qualify for an investment loan.
) [1929] => stdClass Object ( [post_id] => 59736 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you are a casual employee and are contemplating on whether or not can casual workers get home loans, our mortgage brokers can help you figure it out based on your unique case.
Our specialist mortgage brokers are experts in casual worker home loans and know how to get a deal through!
You can call us on 1300 889 743 or fill in our free assessment form.
) [1930] => stdClass Object ( [post_id] => 33791 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Quotes For Additional Work
Just in case you haven't read the building contract fine print carefully, not everything is included in the construction so it's important to provide quotes for these additional works upfront.
These additional works include:
A quote is generally all you'll need to provide since these works don't need council approval. Although it varies, these construction jobs aren't permanent structures and are often quite cheap to build.
If you provide quotes, you can borrow to finance these additional costs. If you don't, you'll likely need to fund these costs yourself.
Be careful as some lenders will only release money for the additional work once the main house is completed. This may not suit your construction schedule so, in some cases, we may need to switch lenders.
Do you need help with getting approved for a construction loan?
Give us a call on 1300 889 743 or complete our free online assessment form and let us know what you're planning to build.
We know exactly what documents the bank is after in order for them to assess your application and get the ball rolling.
) [1931] => stdClass Object ( [post_id] => 34713 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => If the bank determines that the acreage is not being purchased for commercial farming purposes, they will generally take into account the following:
Land size
For most banks, they will only accept land up to 10-15 hectares (ha) in size. Other banks may be willing to accept land up to 50ha or some won’t have any land restrictions at all if you can show that you’re not undertaking large-scale farming. The only exception is for land over 200 hectares where banks can be conservative across the board.
Location
Remote locations can sometimes be difficult to finance because, again, banks take a conservative approach to property that has limited market appeal. Try the postcode calculator to find out if there are any potential lending restrictions for the location you want to purchase in.
Easy access
Banks prefer properties with easy access and all-weather roads. They don’t necessarily have to be sealed. Dirt roads may acceptable as long as they’re in good condition.
Services connected
When it comes to electricity, water and sewerage connections, partially-serviced acreage may be accepted. It all comes down to the costs involved in having to bring the property back up to a marketable standard. For example, tank water and septic tanks may be acceptable to some lenders in favour of having town water and sewerage connected. Similarly, acreage with solar power will sometimes be accepted if the property isn’t connected or is at least within range of the electricity grid.
Zoning
Although the names vary from state to state and even council to council, land is generally divided into rural, rural residential or farming or primary production. The latter zoning means the property will most likely be assessed as a commercial loan application. A good rule of thumb is that if the land you’re buying is subject to GST then it would be considered as a commercial property by the banks.
What if I want to buy a farm?
If you’re planning to go the whole hog and live and work off the land, we may be able to help you there as well. Just don’t go quitting your job yet! By going down the commercial farm loan path, the interest rates will be higher and you’ll need a slightly bigger deposit You’ll also need to provide some sort of business plan that shows how you intend to run successfully. Head on over to the farm loans page to get a better understanding of what the banks are looking for in an application, what to look for in a property and tips for running a farm. If you need a farm loan, call us on 1300 889 743 or complete our free assessment form.Are you a sophisticated investor?
If you’re looking for a way to rapidly grow your investment portfolio, land banking acreage property can be one way to do it. The trick is being across upcoming zoning and planning changes with the local council. New rules that allow for land subdivision or commercial developments can be highly lucractive. Obviously, there is a high risk with landing banking so you should seek independent financial advice before making a decision.How to avoid commercial rates
You may still be hit with a high commercial interest rate even if you have no business intent. It’s all based on the valuation report. This includes development and agriculture. However, you may still be able to get a residential loan with a much cheaper interest rate and better terms. Since the valuation would come in lower, you would have to provide a larger deposit so you’d have the weigh up the benefit of paying a larger deposit compared to paying a lower interest rate.How does it work?
By building the right case, a specialist mortgage broker may be able to convince the bank to advise the valuer (in writing) to disregard highest and best use and just rely on comparable residential sales.
Golden tips on choosing an acreage
What you should look for in an acreage will depend on whether you intend to grow food on the land or using the property for recreational use such as horse-riding.However, you may want to consider the following:
Don’t pay the emotional price
There are practical ways to inspect an acreage and arrive at a fair offer. However, the problem with hobby farms is that the market price is often driven by emotion from a wide variety of buyers. An acreage can appeal to a buyer after a reclusive lifestyle while others want the land for commercial reasons. This may be for running a small business or for storing vehicles and equipment. The price someone is willing to pay is highly subjective with these types of properties so it isn’t unusual for auction values to quickly blow out. Set yourself a budget and definitely avoid buying at auction without a pre-approval first.Do you want an acreage loan?
We’ve helped many Australians to buy their own rural property with an acreage loan. Call us on 1300 889 743 or complete our free assessment form and one of our specialist mortgage brokers can let you know if you qualify. ) [1932] => stdClass Object ( [post_id] => 30711 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>One important thing to note is that some countries limit you to borrowing 80% of the property value or Loan to Value Ratio (LVR).
This borrowing limit is typical with a lot of countries, particularly those burned by the global financial crisis (GFC).
Australian banks are one of only a few institutions in the world to offer 105% investment loans by way of a guarantor arrangement with your parents.
With no guarantor, you can still go up to 95% or even 97% of the property value in Australia.
So because of this 80% LVR restriction that international banks have, you would need your own funds for a 20% deposit, plus an extra 3-5% of the property value to complete the purchase of the property.
These extra costs cover costs relating to stamp duty, conveyancing fees and other legal costs required to be paid when buying in that country.
These extra costs vary from country to country: some of them don't charge stamp duty at all!
Call us on 1300 889 743 (+61 2 9194 1700 if you're outside of Australia) or complete our free assessment form to discuss your plans in buying property overseas.
What if I already own a property in Australia?
If you already own a property in Australia and only have 60-70% remaining on the mortgage, you can actually use your equity for buying property overseas.
Your Australian lender won't accept a foreign property as security outright but you can do a cash out with the help of your mortgage broker.
The broker will normally inform the bank that the cash out is for future investment purposes not necessarily for overseas investment.
In saying that, as long as you're not borrowing more than 80% of the property value, you can usually get approved for the cash out.
Let's say you own a property currently valued at $500,000 with $300,000 owing on the home loan.
Your LVR would be around 60%, way below the 80% restriction for accessing equity.
The property you want to buy is in Brazil and it's worth $250,000 - the 20% deposit (plus purchase costs) you need would be about $60,000.
By refinancing with your existing lender, you can cash out that $60,000 so your new home loan is $360,000.
Should I refinance to another lender?
By speaking with an experienced mortgage broker that has a number of different Australian lenders to choose from, they can properly assess your situation and refinance your mortgage to another lender at a lower interest rate.
When buying property overseas, it helps to have a mortgage broker that will support you going forward.
Call us on 1300 889 743 or complete our free assessment form to find out if you're in a position to use equity in your property for buying property overseas.
Why do you want to buy property overseas?
Many Australians choose to buy property overseas because they've become disillusioned with the overpriced real estate market.
With a strong dollar compared to the currency of many foreign nations, there is the potential to take advantage of comparatively lower property prices and higher growth rates in developing nations.
The first thing you should consider is what countries you'd like to invest in: not all property markets are created equal.
Despite its large economy, the United States real estate market has been in the doldrums for a number of years following the GFC.
Meanwhile, some countries that would be considered developing nations or those badly hit by the global financial crisis (GFC) such as Greece, Brazil, Turkey and Italy are running at much higher growth rates.
Of course, there are investment opportunities anywhere if you've done your market research.
Discover more about the risks of overseas property investing in the '6 Traps Of Overseas Property Investing' blog.
Australian residents who are foreigners choose to buy property overseas for investment purposes but they may also have a cultural or family connection.
When they go on holidays or even retire, they may choose to go back and make the property their new home, rent-free.
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You'll need to prove that you can afford the loan and can meet all other lending criteria. You can check out our bad credit home loans page for more information.
Our mortgage brokers are experts at helping borrowers with bad credit qualify for a home loan. Call us on 1300 889 743 or fill in our free no-obligation assessessment form.
) [1934] => stdClass Object ( [post_id] => 54140 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Call our mortgage brokers on 1300 889 743 or get a free assessment to find out if you are eligible.
) [1935] => stdClass Object ( [post_id] => 44202 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Ordinary shares actually give employees an equity investment in the company, meaning that they have a say at annual general meetings and the like.
With other companies, the employee shares simply pay dividends rather than providing the shareholders any voting rights.
The good news is that it makes no difference to your chances of getting approved for an employee share scheme home loan.
Discover if you qualify
Whether you want the lender to accept your dividends from employee stock options, or you want to lend against your property to buy into an ESS scheme, we can help!
Call us on 1300 889 743 or complete our online enquiry form today.
[wbcr_snippet id="74814"] ) [1936] => stdClass Object ( [post_id] => 68126 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Investing in regional areas is not without risks:
Population growth in major cities is bursting at the seams and is set to double by 2075; however, the growth will not be limited to capital cities. It will ripple towards regional areas. Savvy investors are now looking to invest in these areas, where some of the fastest-growing suburbs for investment are located.
Regional Vs Metro Areas: Where Should I Invest?
Investing in regional areas means you could enjoy higher rent returns. Tenants who live in regional areas often prefer houses over units. Regional areas also experience bigger shifts in population. The shift to remote working gives people higher disposable incomes and more affordable homes. The sea changers and tree changers choose to live in regional areas for a better lifestyle.
Capital cities and metropolitan areas might have lower rental returns, but their local economies are more stable. There is higher international migration in capital cities and tenants are happy to live in either houses or units. Infrastructure and amenities are well developed in cities, which means more convenience for people living there.
Which is a better choice? Risk-averse investors tend to focus on capital cities. However, if you pick a regional area with a booming local economy, you’re more likely to do well. Take caution when investing in single-industry towns, in particular mining towns. These towns experience booms where prices double but they can become ghost towns overnight. Research, experience and buying in diverse locations reduce your risk.
Investing in regional areas takes careful consideration and preparation. Before dipping your toes into uncharted waters, get your finances in order. At Home Loan Experts, our mortgage brokers can help you get suburb and property reports and get you the best deal for your investment loan. Call us on 1300 889 743 or enquire online today.
) [1937] => stdClass Object ( [post_id] => 54185 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Get your documents in order
Around 80% of home loan approval delays are the result of missing documents!
The income verification document requirements vary by employment type and lender, so please get in touch with us before submitting your application.
COVID-19 tips for home loan approval
As mortgage brokers, we always have the exception raising process with the business development managers at the bank, so that is helpful in urgent times.
Please speak with one of our specialist mortgage brokers, who can get you the best deal based on your situation. Call us on 1300 889 743 or fill in our short assessment form, so we can get started asap!
) [1938] => stdClass Object ( [post_id] => 50454 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our mortgage brokers know which lenders have the quickest turnaround time as well as being intimately familiar with almost 40 lenders’ policies.
If you need a quick settlement, please give us a call on 1300 889 743 or fill in our online assessment form today.
) [1939] => stdClass Object ( [post_id] => 21507 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>We are experts in lending to pharmaceutical professionals and know which lenders offer 95% waived LMI, significantly reduced interest rates and fee waivers.
Your professional status and strong income can help you to achieve your long term investment goals or to buy the property of your dreams sooner at a fraction of the cost.
Call us on 1300 889 743 or fill in our free assessment form today.
[wbcr_snippet id="74140"] ) [1940] => stdClass Object ( [post_id] => 30605 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Most lenders will decline your request to combine your debts into your existing loan repayments if you don't have enough equity in your property.
However, with the support of a guarantor, you can refinance your debts into a single payment.
You can even avoid paying Lenders Mortgage Insurance (LMI).
It's important to note that only a handful of lenders offer this service.
You can speak with one of our mortgage brokers by calling us on 1300 889 743 or by filling in our free online assessment form. They specialise in guarantor mortgages and can help you find the right lender who can meet your home loan needs.
) [1941] => stdClass Object ( [post_id] => 20301 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
There are many other ways to prove your business income or you can apply for a low doc loan.
Call us on 1300 889 743 to find out more.
) [1942] => stdClass Object ( [post_id] => 28172 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Banks are continually evolving and it’s evident in recent changes to investment lending policies and postcode restrictions affecting your ability to get a home loan for certain suburbs.
There are many reasons why your home loan application may be declined so it pays to speak with a professional that is on top of these changes.
Mortgage brokers are credit specialists that understand bank lending policies and they know how to build a strong case with the right lender so you’re in with a good chance of qualifying for a mortgage that’s right for your situation and needs.
Call 1300 889 743 or complete our free assessment form today.
Interested in a little more history? Check out the fascinating evolution of the Australian banking and home loan industry.
) [1943] => stdClass Object ( [post_id] => 2330 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>We have relationships with several banks and lenders who would gladly take your commission income into account when assessing your mortgage for approval.
With the huge variety and number of contacts that we have there is sure to be a lender that will suit your home loan needs.
Please fill in our free assessment form or contact us on 1300 889 743 for further details.
We can help you apply for a home loan with the use of your full commission income.
) [1944] => stdClass Object ( [post_id] => 70517 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
“Most economists are predicting multiple cash rate increases in calendar year 2022, with a total increase of somewhere between 1.2 and 1.4 percentage points, some or all of which lenders may pass on to borrowers. For perspective, an increase of 1.3 percentage points would mean clients borrowing $500,000 would see their repayments increase by $319 per month.”
For home buyers, a cash rate rise has a huge effect on your borrowing power. Hemmings explains, “For example, a couple earning $150,000, with living expenses of $5,000 a month and a credit card with a limit of $5,000, could borrow approximately $830,000 prior to today. A 1.3 percentage point increase in their interest rate would mean the same couple could borrow only $735,000, a reduction of nearly $100,000.”
So rising interest rates are definitely a potential burden for homeowners and prospective buyers. But here’s what you can do to keep your costs as low as possible:
Whether you’re a homeowner or home buyer, Home Loan Experts mortgage brokers are here to help. Call us on 1300 889 743 or enquire online today.
) [1945] => stdClass Object ( [post_id] => 1887 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
There are a variety of jobs in the adult industry. Some include:
If you're employed in any of these professions, you may have great difficulty obtaining a home loan through a traditional lender. However, we can help!
Please call our mortgage brokers on 1300 889 743 or enquire online. Our expert team will help you get approved!
) [1946] => stdClass Object ( [post_id] => 59001 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Our specialist mortgage brokers can help you find the perfect solution when it comes to 95% LVR home loans.
With over 50 lenders on our lending panel, we can usually recommend the right loan products for you.
Call us on 1300 889 743 to speak with one of our specialist mortgage brokers or fill in our free assessment form for expert advice.
) [1947] => stdClass Object ( [post_id] => 13182 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>As mortgage brokers we also have our own special package for high-net-worth clients.
How Much Is The Price Difference?
Initially when you apply for your first few loans the pricing will be moderately competitive. In most cases the difference is 20-40 basis points for loans of around $5,000,000. That is around $10,000 to $20,000 a year.
Once you have made that bank your main financial institution (MFI) and stopped shopping around when applying for new loans it will typically charge you 40 to 55 basis points more. On a $5,000,000 mortgage that is $20,000 to $27,500 a year!
What is the alternative?
If you want to reduce the cost of your loan then it is better to talk to a mortgage broker. Our mortgage brokers are specialists in dealing with high-net-worth clients and know which lenders will give you the lowest interest rates for your loan size.
Please call us on 1300 889 743 or enquire online and one of our staff will call you to discuss your finance needs.
) [1948] => stdClass Object ( [post_id] => 69888 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Our expert mortgage brokers know which lenders will waive LMI for you. Contact us at 1300 889 743 or fill in our online assessment form and we will help you find the perfect home loan.
) [1949] => stdClass Object ( [post_id] => 53863 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Fixed rates often have a very low margin for lenders due to competition. As they don't make much money during the fixed period they rely on customers being reverted to a high rate later to make up for this.
Some lenders have a customer-centric approach or are customer-owned and act in the interests of their customers. Regardless, it pays to be wary and to regularly check your interest rate to see if it's competitive.
We have a panel of over 40 lenders, and know the lending policies of each of them. Our mortgage brokers can assess your situation and get you the best deal on your home loan.
Call us at 1300 889 743 or fill in our free assessment form.
) [1950] => stdClass Object ( [post_id] => 47673 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you've been struggling with your mortgage repayments, it could be that you don't have the right home loan for your needs.
You may even be eligible for a much sharper interest rate.
Please call us on 1300 889 743 or fill in our free online assessment form to find the right solution for your needs.
) [1951] => stdClass Object ( [post_id] => 13482 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Banks tend not to like this type of property because they appeal more to single people than to families. Hence, they view these as less popular and more difficult to sell in the event that the borrower defaults.
However, dual key apartments are great for young professionals and other single people who don't mind sharing a unit. Investors can also benefit by renting out both units for two separate sources of rental income while avoiding the need to buy another property.
We know lenders who are less picky about your choice of security. Call us today on 1300 889 743 or ask for a free online quote and find out which lenders can approve your loan.
) [1952] => stdClass Object ( [post_id] => 35885 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
We can help fund the purchase and refurbishment of medical practices as well as veterinary, dental and physiotherapy clinics.
You generally need to meet one of the following professional requirements and be a member of the Australian Health Practitioner Regulation Agency (AHPRA) or equivalent industry body:
This is only available with a handful of lenders as an exception to normal policy so call us on 1300 889 743 to discover if we can get you approved for your medical practice fit-out loan.
) [1953] => stdClass Object ( [post_id] => 8049 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Are you a member of the Australian Defence Force who has been posted overseas? Please contact us, and we can help arrange a home loan for you.
We know which lenders will consider your allowances and other benefits, helping you increase your borrowing capacity.
Contact the DHOAS directly to see if you’re eligible for subsidies and benefits. Call them on 1300 434 627 or visit their website.
Call us on 1300 889 743 or enquire online and let us help you get approval!
[wbcr_snippet id="74553"] ) [1954] => stdClass Object ( [post_id] => 278 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Here are three things you need to know about fixed-rate offers in Australia:
If you are looking for the cheapest fixed-rate loans then please call us on 1300 889 743 or enquire online to speak to one of our fixed-rate mortgage brokers.
) [1955] => stdClass Object ( [post_id] => 70384 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
When you pay off your home loan, you'll have a roof over your head, while paying down your investment loan will give you more cashflow and equity.
When Should You Pay Your Investment Loan First?
When Should You Pay Off Your Home Loan First?
When you’ve decided to refinance your home loan to buy an investment property, we can help you determine how much equity you can use and get you an investment loan that suits your financial goals. Call us on 1300 889 743 or enquire online today.
[wbcr_snippet id="71988"] ) [1956] => stdClass Object ( [post_id] => 49876 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Avoid missing out on your ideal property simply because you started looking before getting pre-approved. Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our online assessment form to get started on your pre-approval. ) [1957] => stdClass Object ( [post_id] => 60942 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Shopping for a home loan is tiring work and requires commitment if you want the best deal. This is the reason why people opt for the first lender they find. Interest rates and other fees vary from lender to lender. Choosing the wrong lender could set you back thousands of dollars.
Solution:Not sure how to get the right quotes or find a lender that is good for you? Please enquire online or call us on 1300 889 743, and one of our specialist mortgage brokers will be happy to help.
) [1958] => stdClass Object ( [post_id] => 13512 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Income forecasts
Are you investing in your business to achieve a high rate of growth? If so then you may be able to provide a forecast of your future income.
As a general rule you must meet the following criteria:
Which lender can accept a projected income for your business loan? Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will see if we can help you.
Who can use this method?
This is only available to people who are borrowing for business purposes. This is ideal for a property-owner who wants to release their equity for their business.
How much can I borrow?
Typically, you can borrow up to 80% of the value of your property.
Next year's tax returns
Do you have a cash based business with a good income? Have you considered paying your full tax for one financial year?
By doing so we can then use this income to get a loan.
As a general rule you must meet the following criteria:
Some lenders only require tax returns for one year to prove your income. If you declare your real income for one year on your tax return, we can help you get approved.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will discuss the income evidence that you can provide.
Interim financial statements
Do you use MYOB, Quickbooks or a bookkeeper? If so, you may be able to provide interim financial statements as evidence of your self employed income.
As a general rule, you must meet the following criteria:
This method has no hard and fast rules. Our goal is to get the lender to accept your interim financial statements instead of your previous years' tax returns. To do this, we may also show a range of other documents.
Who can use this method?
This method is ideal for someone who has had the turnover of their business increase since the end of the last financial year.
By showing your business’s current figures, we can sometimes get one of our banks to consider your current income instead of your historic income.
How much can I borrow?
This is a full doc loan, otherwise known as a normal loan. You can borrow up to 80% of the property value and you can obtain discounted interest rates.
) [1959] => stdClass Object ( [post_id] => 51675 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Adverse credit listings can see your home loan application getting knocked back by the banks. However, there are specialist or non-conforming lenders who are more flexible with their lending policies.
They offer what's known as bad credit home loans, which are designed to help Australians outside of the box who don't meet the bank's strict lending criteria.
To find out if you qualify for a bad credit home loan, speak with one of our specialist mortgage brokers by
giving us a call on 1300 889 743 or by filling our short no-obligation assessment form.
Buying your own home is likely to be your biggest asset and would probably be the biggest investment you’ll ever make. Why not put this asset to work by taking out a home equity loan?
Please enquire online or call us on 1300 889 743 to get started today!
[wbcr_snippet id="74098"] ) [1961] => stdClass Object ( [post_id] => 55762 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Our first home buyer guide will help you navigate your home buying journey, from saving a deposit to getting a home loan approved. Our mortgage brokers are experts in helping first home buyers fulfil their dreams of home ownership. Call us on 1300 889 743 or fill in our free assessment form. ) [1962] => stdClass Object ( [post_id] => 9464 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Many banks will not lend to temporary residents or non-residents, regardless of their financial and/or asset position.
This is for several reasons and this mostly has to do with risk:
Not all lenders are the same!
Luckil, mortgages brokers like us know banks that will lend to most non-residents, foreign citizens and Australian expats.
For more information you can see our pages on temporary resident mortgages, foreign citizens, or Australian expatriates.
Do you have real estate or property in mind? Contact us today on 1300 889 743 (when outside Australia call +61 2 9194 1700), or enquire online.
) [1963] => stdClass Object ( [post_id] => 69278 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
The best time to buy a home is subjective, depending on your circumstances. While it is better to buy when property prices aren’t increasing, there is never a wrong time to purchase if you can afford to buy. With property prices predicted to rise in 2022, buying sooner is better.
If you keep waiting for the right time to buy, you could:
There is no guarantee that property prices will fall in 2023. Despite experts and analysts’ best predictions and forecasts, the pandemic is the biggest wildcard. If cases keep rising, border restrictions could disrupt home-buying plans.
At Home Loan Experts, our mortgage experts can help you get your finances in order so you’re prepared to buy a home you can afford. Call us on 1300 889 743 or enquire online today.
) [1964] => stdClass Object ( [post_id] => 59158 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you are looking to get a home loan for your first home, please contact us!
The First Home Loan Deposit Scheme has added an additional 10,000 Scheme places under the FHLDS for new homes also known as the New Home Guarantee.
Our specialist mortgage brokers are well aware of all the schemes available and are experts in the procedures involved.
You can call us on 1300 889 743 or fill in our free assessment form.
) [1965] => stdClass Object ( [post_id] => 71427 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Contact us at 1300 889 743 or fill in our online assessment form and our specialist mortgage brokers will help you refinance your home loan!
) [1966] => stdClass Object ( [post_id] => 56091 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Besides the stamp duty changes in NSW, there are other government and state schemes that will help first home buyers get onto the property ladder.Discover which lenders will accept TAC benefits as a no genuine savings deposit.
Call us on 1300 889 743 or fill in our online enquiry form today.
[wbcr_snippet id="74825"] ) [1968] => stdClass Object ( [post_id] => 68346 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Since banks can be quite conservative and turn down people who have minor blemishes on their credit file or were not employed for a long period, private lenders can help. However, at Home Loan Experts, we know lenders who take a commonsense approach to lending. Even if you’ve been in your job for less than a year or there are some defaults on your credit file, we can help you get approved with a bank. Call us on 1300 889 743 or enquire online. Remember, for most borrowers, private lenders should be the last resort, if you can’t get approved by banks or specialist lenders.Is Private Lending Safe?
Yes. Contrary to popular belief, private lending in Australia is safe, as they’re governed by the laws and practices used to govern banks. Also, you can work with a reputable mortgage broker to weed out any shady dealers and find private lenders who are safe and legitimate.How Much Does A Private Lender Charge?
Private lenders usually charge the same fees as traditional lenders. So the expenses involved include application fees, valuation fees, legal fees and loan establishment fees. However, since their interest rates are high, private home loans are expensive. Their interest rates start from 6% and the interest charged depends on the loan amount and how much you’re looking to borrow.How Does A Private Mortgage Work?
The private lender provides the funds to the borrower based on the borrower’s security. The lender will check the security provided and decide how the loan is to be repaid. The lender usually uses a conservative valuation of the property, in case the borrower fails to repay the loan on time and they need to sell it. The set time is usually less than 2 years, at a fixed interest rate. ) [1969] => stdClass Object ( [post_id] => 31054 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form today to speak with a Bakers Delight franchise loan specialist.
We're experts in commercial loans and know exactly what a lender is looking for in a franchise finance application.
Let us help you get approved for a loan in which you can borrow up to the maximum Loan to Value Ratio (LVR) for your situation and qualify for a competitive interest rate.
) [1970] => stdClass Object ( [post_id] => 20767 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
It comes down to understanding your risk as a borrower and choosing a lender that considers you to be a low risk.
At the moment, some banks are pricing aggressively to win market share. We’re well aware of which banks want your business and can negotiate a low interest rate for you.
Aside from the risk of your loan, the two biggest factors that impact your pricing are:
Give us a call on 1300 889 743 or fill in our free assessment form to find out what we can do for you.
) [1971] => stdClass Object ( [post_id] => 63626 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Jacob and Laura were able to breathe a sigh of relief now that they were able to keep the land and finance the construction of the house.
It was a close call, but they made it.
If your circumstances are similar to Jacob and Laura’s, call us on 1300 889 743 or fill in our free assessment form to get the best help from Home Loan Experts.
) [1972] => stdClass Object ( [post_id] => 3879 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Students with partners who work full-time
In most cases the partner has recently completed their university degree, has entered the workforce and may still be repaying their HECs debt.
We most commonly deal with researchers on a NHMRC scholarship or on a university-funded scholarship.
Students buying on their own
The other type of customer that we often assist is a university student who is buying on their own (i.e. not with a partner).
In most cases scholarship income is not enough on its own to support the home loan repayments.
For this reason these students either have a part time job / casual job that they work in or they receive help from their parents.
If you are in any of these situations please call us on 1300 889 743 or enquire online. There may be other ways that you can get a mortgage. Our expert brokers will help work out a solution for you.
) [1973] => stdClass Object ( [post_id] => 12855 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Some lenders will only approve a loan if a Notice of Assessment (NOA) is provided.
A Notice of Assessment is an official document prepared by the Australian Taxation Office (ATO) which is a statement of the tax that you have paid in the last financial year and the tax that you owe the government or the tax refund that they owe you. It is mailed to you around two weeks after you lodge your tax returns.
Since it shows your taxable income for the last financial year and is also an official document from the government, lenders have definite proof of your income and will consider your mortgage application.
The problem that many people have is that their income has changed since the last financial year so they cannot use this method to prove their current income. If the borrower did not work for the same employer, the bank may decline their loan due to not meeting their income verification requirements.
We know which lenders require which documents and are more likely to approve your home loan application. Please enquire online or call us on 1300 889 743 to speak to one of our expert mortgage brokers.
) [1974] => stdClass Object ( [post_id] => 13212 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
As specialist mortgage brokers we have an in depth understanding of each bank's lending criteria, risk appetite and systems. So we know which credit issues are not a problem for each bank.
If you discuss your situation with us up front then we can confirm if we can help you to get approved without changing your situation or we can let you know which specific parts of your situation need to be changed.
If you aren't yet ready to buy a property then we can complete an assessment of your situation using our prepare to buy program.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers can give you feedback on your situation.
) [1975] => stdClass Object ( [post_id] => 405 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Our mortgage brokers are experts in financing the purchase of high rise apartments in the CBD.
Please call us on 1300 889 743 or enquire online and we can help you to work out how much you can borrow and which lenders you qualify with.
[wbcr_snippet id="73488"] ) [1976] => stdClass Object ( [post_id] => 32165 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>In most cases, you'll actually get a cheaper commercial interest rate since you're using a residential property as security.
As a general rule, the bigger the loan amount, the bigger the discount you may be eligible for.
Bear in mind though that the bigger the loan amount, the larger the guarantee required.
For example, banks usually restrict the Loan to Value Ratio (LVR) of commercial loans up to $1,000,000 to 80% of the property.
Loans up to $5,000,000 typically have LVRs capped at 70%. In this case, your guarantor would need to put up 30-35% of the property value unless you were able to put in some of your own funds.
Call us on 1300 889 743 or complete our free assessment form to speak with a specialist mortgage broker.
) [1977] => stdClass Object ( [post_id] => 85532 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you have any questions about the stamp duty changes or need a home loan, call us on 1300 889 743 or complete our free online assessment form to get started today.
) [1978] => stdClass Object ( [post_id] => 31049 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Discover if you qualify
Our specialist mortgage brokers can put you in strong position to get approved for a Nando's franchise loan by building your application and choosing the right lender.
Get approved the first time around!
Call us on 1300 889 743 or complete our free assessment form today.
) [1979] => stdClass Object ( [post_id] => 32679 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => When your fixed term ends, you can look for a few options:Refixing A Loan
This means that you will be committing to a new fixed-rate term. Debra, our client, who had a fixed-rate loan, was coming to the end of her term. As part of our routine follow-up, we sent her an email that listed options she could choose when her fixed period ended. She chose to refix her loan for one year. The rate her bank initially offered her was 2.64%. But, after we did a rate review, we got an additional discount of 0.10 percentage points. So the final rate came to 2.54%. This saved her thousands in a year. However, it's important to remember that the interest rate you're offered may not be as competitive.Is It A Good Idea To Refix The Loan When Interest Rates Are On The Rise?
By refixing your loan during a period of rising rates, you could be setting yourself up for higher repayments. So it's important to seek the advice of a mortgage broker who can help you navigate your options and determine whether fixing your loan or exploring other options is the best decision for you.Can I Fix My Home Loan At The Same Rate It Was Fixed Earlier?
No. You can fix your home loan again but the rates will be different. Lenders will revert you to a variable rate that is higher than the rates you were paying.Refinancing
This means changing your existing home loan to a new one that offers better interest rates or features. To determine if refinancing is right for you, you should look for a home loan that provides better value than your current one, with lower interest rates, fees or more features. However, it's important to evaluate the overall cost-benefit of switching lenders as there may be exit fees and other expenses involved. To ensure you make the right decisions, it's important to weigh the benefits of lower interest rates versus cashback offers. Additionally, it's crucial to avoid putting yourself in a situation where declining property prices leave you with insufficient equity to refinance. To navigate these considerations and explore the options available, trust the expert guidance of Home Loan Experts' specialist mortgage brokers. Contact us today at 1300 889 743 or fill in our free online assessment form.Getting A Variable Rate
When your fixed-rate term expires, you may be automatically switched to your lender's standard variable rate (SVR). This rate can be higher than the fixed rate you were previously paying and may not be as competitive as other lenders' rates. However, the benefit of switching to an SVR is that you may have more flexibility with your repayments, unlike the fixed-rate loan. However, you may also get lower rates if you can negotiate with your lender.Splitting A Loan
This option involves splitting your home loan into two separate portions, one with a fixed interest rate and the other with a variable. This type of loan option is preferable for those who want to have the stability of a fixed-rate loan but at the same time want to take advantage of the flexibility and any potential decreases in the variable interest rate. You can choose how much of your loan is fixed and how much is variable, depending on your needs and preferences.) [1980] => stdClass Object ( [post_id] => 79857 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Financing your dream renovation can be a big step, and we want to ensure you have the knowledge you need to make the right choices for your home.
At Home Loan Experts, our commitment to homeowners looking to renovate or sell their property runs deep. Our team is passionate about assisting you at every turn. If you're among the growing number of homeowners looking to transform your property through renovation, rest assured that we have the lending solutions to help you turn your vision into reality. Call us on 1300 889 743 or complete our free online assessment form today.
) [1981] => stdClass Object ( [post_id] => 80881 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Santa's Sleigh Ride is the culmination of months of hard work, as children all over the world receive the results of Santa’s elves’ hard work. Settlement day for our clients is no different. It's a moment of celebration, joy and fulfilment. Our mortgage brokers share in the excitement as keys are handed over, echoing the satisfaction of a successful journey from application to settlement. As we weave through the intricacies of mortgages this holiday season, remember that behind the scenes, our dedicated team is working with the same spirit and enthusiasm as Santa and his elves, ensuring that your journey to homeownership is nothing short of magical. The Mortgage Elves’ magic is here, and every home purchase comes at this time of year comes with a sprinkle of holiday cheer. Connect with us today by calling 1300 889 743 or enquiring online for free. Let's make your homeownership dreams come true with a touch of festive magic!
) [1982] => stdClass Object ( [post_id] => 26797 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Did you know that not all lenders are overseen by the Australian Prudential Regulation Authority (APRA)?
Some non-banks and specialist lenders are not actually ADIs so, at least for the time being, they’re in a unique position to help Australia borrow up to 90% of the purchase price or more to invest in property.
We know which lenders will do this and we know which of them will allow you to borrow up to the maximum LVR if you meet standard loan requirements.
Adding to your property portfolio?
If you’re building on top of your existing property portfolio, beware.
As a result of these changes, very few lenders take into account negative gearing benefits when assessing your income position.
In addition to this, banks will now assess your existing loan facilities at a higher or buffer interest rate than what you’re actually paying.
This has a massive impact on the borrower power of applicants who already own multiple investment properties or who are simply purchasing a second investment property.
Do you need help getting approved with a lender that takes a commonsense approach?
Please call us on 1300 889 743 and we can tell you how we can help.
) [1983] => stdClass Object ( [post_id] => 1622 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders when it comes to home loans for part-time workers. Please enquire online or call us on 1300 889 743 to discuss your situation with a mortgage broker and get your mortgage approved! [wbcr_snippet id="74445"] ) [1984] => stdClass Object ( [post_id] => 69462 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
No. As a homebuyer, there are loan options that secure you against changing interest rates. Here are various types of loans and the effect changes in interest rates have on them:
Our team of specialist mortgage brokers can help you choose the most suitable home loan. Contact us at 1300 889 743 or fill in our online assessment form and we will contact you.
How To Decrease Your Interest Repayments
If you have a variable-rate loan or a split loan, there are ways to decrease the interest you have to pay. These options may be available for fixed-rate home loans with some lenders as well.
) [2092] => stdClass Object ( [post_id] => 57175 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => For example, if you were purchasing a $400,000 house in Adelaide SA, you would fall within the $300,000 to $500,000 category. Therefore, you would be charged an upfront stamp duty of $11,330 plus an additional charge of $5,000 for a total of $16,330. You may be able to add the cost of stamp duty to your home loan. Give us a call on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers. ) [2093] => stdClass Object ( [post_id] => 20785 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Did you know that our mortgage brokers have access to special home loans discounts?
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can afford to buy a home now and how we can get you a discounted interest rate.
) [2094] => stdClass Object ( [post_id] => 94132 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>The most important takeaway for first-time buyers is that your first home doesn’t need to be your forever home, it just needs to be a smart investment that works for your current situation. By focusing on getting onto the property ladder, building equity, and staying flexible with your future plans, you position yourself for greater opportunities down the road.
At Home Loan Experts, we’ve supported thousands of first-home buyers in getting approved for their mortgages. Whether you’re looking for advice, or need help with the approval process, we’re passionate about making your journey easier and increasing your chances of success.
Call us today at 1300 889 743, or complete our free online assessment form to get personalised guidance and take that first step.
) [2095] => stdClass Object ( [post_id] => 75142 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>At Home Loan Experts, we understand the complexities of an appraisal gap and its effect on the home loan process. Our mortgage brokers have years of experience helping clients negotiate better terms with lenders and get through the entire loan application process without any hassle.
Call us on 1300 889 743 or complete our free online assessment form to get started with your home loan process today!
) [2096] => stdClass Object ( [post_id] => 30987 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Most lenders can allow you to fix your interest rate for up to five years. However, you may be able to negotiate a longer term on application.
Don't fix your interest rate if you're planning to:
Our mortgage brokers can quickly find and compare the best fixed interest rates on offer.
You can discuss your situation and loan needs with one of our brokers on 1300 889 743. You can also complete our free online assessment form and one of our mortgage brokers will contact you instead.
) [2097] => stdClass Object ( [post_id] => 21577 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Choosing the right loan term really depends on your situation. Most mortgages in Australia are for a 30 year loan term, but you can pay your loan off earlier than that if you can afford it. Alternatively, you can choose to pay off your loan over 40 years, the maximum loan term offered in Australia. Keep in mind though that although your repayments will be lower with a longer loan term, you will ultimately pay more in interest.
If you currently have a mortgage, our calculator can also work out the current interest rate you’re paying based on your monthly repayments.
If you are trying to minimise your loan repayments or pay off your loan as quickly as possible, our mortgage brokers can help you develop a strategy.
Please call us on 1300 889 743 or fill in our free assessment form today.
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When searching for a new home, it is a good idea to get a pre-approval on your loan. Whilst online calculators are great, the only true way to find out how much you can borrow is to get a pre-approval before you start home hunting.
This will save a lot of time and stress in the long run.
To find out more about getting a pre-approval for your home loan, please call us on 1300 889 743 or enquire online for free today!
[wbcr_snippet id="72196"] ) [2099] => stdClass Object ( [post_id] => 32570 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Improve your home's value today! Whether you're planning to sell or simply want to enhance your living space, increasing your home's value can bring you satisfaction and financial benefits. If you're unsure how to proceed, our team is here to offer support and guidance.
Don't hesitate to reach out for a free consultation with one of our experts by calling us at 1300 889 743 or by filling in our free online assessment form.
) [2100] => stdClass Object ( [post_id] => 8503 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>We know the challenges of running a small business in Australia. We have helped many small business owners obtain finance for their property and know lenders that can help.
We can help you get a home loan even if you are a non-resident on a business development visa. The lenders we work with can rely on past business tax returns and interim financials if you have experience running the business.
We can assist you with finding the right lender and sorting out the necessary documents. However, lenders will only lend up to 80% of the property purchase value. This is because of concerns over the stability of business and the fact that the owner is a non-resident.
Our mortgage brokers have experience with helping those on a business development visa to obtain home finance. If you are on a business visa and have purchased an Australian business, call us on 1300 889 743 or enquire online to find out how much you can borrow for a home!
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With The Athlete's Foot franchise model being around for about 30 years and the company itself much longer, the main advantage you get with this franchise is leveraging experience and resources.
They have consultants you can speak to when working out where you would like to run your store as well as buying power so you can spend less stock and maximise profit.
Revenue
Unlike other footwear companies that tend to target just men or young people, The Athlete's Foot targets a large age and gender market whether it's for school, fitness, work, leisure or specialist or medical fits. That's not to mention health and fitness.
The Athlete's Foot doesn't provide estimates on what you can potentially earn although annual revenue for the past five years reached $3 billion, according to IBIS World.
One of The Athlete's Foot are online retailers so the success of your store will come down to choosing the right location that presents good market potential and your business acumen.
Costs
The costs of buying The Athlete's Foot franchise can vary but, as a general rule, the cost is around $400,000 to $500,000 for a fully-built and stocked store ready to trade.
This includes:
Ask for a franchise kit at theathletesfoot.com.au.
What other benefits are there?
Apply for The Athlete's Foot franchise loan today
Our mortgage brokers are commercial loan experts and can help you find the right lender that will take a common sense approach to your application for The Athlete's Foot franchise loan.
Call us on 1300 889 743 or complete our free assessment form today.
) [2102] => stdClass Object ( [post_id] => 19709 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
A new apartment, an amazing new life
In March 2013, the apartment was re-valued at $480,000. That’s almost a $100,000 profit (minus renovation costs) in less than four years!
To the envy of Nick’s mates, the LUG has since become a man cave with a pool table and plenty of street parking.
With Marrickville’s now thriving cafe, small bar and pub scene, Nick isn’t too sure of the current value of his home. However, at the time of writing, the apartment upstairs was selling for $600,000.
Nick recently refinanced his mortgage and decided to repay the gift with the equity he had been paying interest on.
He also decided to set up an offset account with a substantial amount and is currently only paying $1,350 a month in interest!
Despite the incredible stress of fixing up the apartment, Nick said he would do it all over again.
If you’re like Nick and have found property that needs some work, we can give you a free property report!
Call us on 1300 889 743 or fill in our free assessment form today!
Does the property you want to buy require more than minor renovations? Our renovation loans page can tell you if you’re eligible for finance and how much you can borrow.
Best of luck with your property searching!
) [2103] => stdClass Object ( [post_id] => 26280 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Have you gotten financial and legal advice?
Whether you’re looking at buying a healthcare practice, a dental clinic or a veterinary practice, you should seek out independent financial and legal advice first.
Initial consultations are sometimes free for accountants, financial advisers and lawyers but even if you have to pay a few thousand for these professionals, you have a much better chance at avoiding really common mistakes that can quickly put you out of business.
A business broker or commercial buyers agent who has experience in buying and selling doctors clinics can help you find great investment opportunities but you’ll need more professionals in your team.
A specialist accountant, for example, can also help you save a lot of money over the long term by helping you set up an entity structure that is more profitable for your situation.
Need help me negotiating the terms of the contract? A solicitor can help.
If you make an agreement with the vendor that all of the practice’s equipment is in working order before you sign the contract, you’ll want to make sure that there is a null-and-void arrangement in the Heads of Agreement just in case they fail to repair or undertake replacement work.
Such equipment can include diagnostic machines like x-rays and ultrasound, medical lasers and medical monitors.
Should you just buy the practice premises?
Although buying the leasehold tend to generate a higher return on investment than just investing in the freehold, the worst case scenario, the clinic failing, usually means the loss of any money you outlaid for the business.
By purchasing the freehold, you can avoid much of these upfront costs and you can enjoy a stable rental income from the outset.
Deciding on which ownership to choose comes down to your circumstances and how much work you’re willing and able to put into building a business.
The great thing about a freehold arrangement is that the land itself retains value even if the business sinks.
Please get in touch with us on 1300 889 743 or fill in our free assessment form so we can properly assess your situation and discuss freehold and leasehold options based on what you’re trying to achieve.
Have you done your due diligence on the property?
Whether you’re buying the freehold or the property and the business (freehold going concern), what should you look for in the property?
You have to put yourself in the shoes of the patient:
Once you've considered these questions, it’s important to have an architect or other building expert look at the premises before deciding to buy.
If you’re taking over a freehold with existing tenants consider the nature of the business:
Should you just buy the business?
There are huge differences between buying the leasehold or the freehold, not least of which are the business and tax implications that come along with it.
Leasehold arrangements don’t require you to outlay money for the property for renovations or bringing the property up to standards. As a result, they tend to offer a much higher yield on investment than freehold investments.
Even though there can be a greater reward in buying a leasehold property, there’s also a greater inherent risk so it comes down to your ability to put in the hard work.
If you’re looking at a challenge, then a buying a leasehold may be a better option for you.
To make it a little easier for yourself, decide if you want to buy the practice, along with the name and equipment, or just the space and the equipment.
If you’ve found a clinic with a good patient base with repeat business, you’re probably not looking at changing the business too much, at least in the beginning, so you may best continuing operating under the practice name.
If you want a “set and forget” commercial property, you might be better off buying the business as a freehold and earn rental income.
Obviously, buying both the property and the business (freehold going concern) will require a large outlay upfront but you have some cushion in case your practice doesn’t succeed.
Can you speak to someone who’s already taken the leap?
A medical practice, like any commercial property, requires you to do your homework.
Luckily, doctors tend to be highly ambitious and understand the power of having a mentor.
Do you know a senior doctor who has started their own practice?
Ask them for advice and you’ll not only have a better chance of turning a profit but you’re also showing the lender that you’re undertaking all of the proper due diligence to run a successful practice.
If you don’t know someone personally in the industry, have you spoken to the Australian Medical Association (AMA). They can give you essential tips and resources on managing your practice such as streamlining your bulk billing process and recruiting new staff.
Of course, you’re probably best off getting advice from the vendor you’re considering purchasing from.
It pays to have a decent consulting contract or handover period written into the Contract or Sale or Heads of Agreement to ensure that you can mine the former practitioner for information about his patients, staff and the practice premise as a whole.
How can you identify goodwill in a doctors practice?
As a qualified medical professional, you’re likely earning a considerable income working in the public sector, so one of the first questions you’ll need to answer is whether you’ll actually be earning more by running your own practice.
A mark of a good lease is one that can show a regular above average return on investment, otherwise known as goodwill.
This means that when buying a practice, you’re not only buying the space but you should also expect to pay a premium for what makes the practice successful. These aspects include:
The AMA suggests a good rule of thumb for goodwill as equal to one third of a practice's gross billings. A half share of a practice with gross billings of $900,000 would therefore be valued at around $150,000 (i.e. $900,00 times 50% times 33.3%). Plant and equipment should then be purchased separately at market value.
These competitive advantages can all be passed on to you as the new owner but in order to accurately calculate goodwill, it's best to speak to an accountant.
Should I buy a GP or a specialist clinic?
The first thing to consider when considering getting a medical practice business loan is what kind of practice you’re going to run, that is, either a GP or a specialist clinic. The answer to this question will come down to your skills and experience.
General Practice
At the moment, there is a shortage of family doctors across the country, especially in rural areas, so owner doctors are highly sought after.
The benefit of buying a property and then starting your own practice (as a freehold going concern) is that you can avoid paying a goodwill premium and you’ll have total control over location, staff and the premise fit out.
You also have the opportunity to create your own goodwill and sell the business for a profit down the track. This will come down to your ability to build or bring to the table a significantly large patient base.
By buying existing, the patient load will already be in the business which means you have a much better chance to generate a profit from the outset.
You also won’t have to waste time and expense in acquiring new medical equipment and staff. if you’re buying and operating under the existing practice name with a good reputation you have the added benefit of avoiding costly marketing activities.
You’ll also be able to leverage existing relationships with allied health professionals, including but not limited to, chiropractors, dietitians, occupational therapists and psychologists.
Of course, reputation may work against you if the practice doesn't have a positive reputation to begin with. Well before making the decision to purchase, observe the practice and perhaps even turn up as a patient to weigh up the pros and cons.
This includes both the service and staff as well as the practice premise itself.
Specialist
Generally speaking, specialists rarely buy practices because the service is too attached to their particular set of skills.
As a result, paying a premium for goodwill in an existing practice just isn’t worth it most of the time. The return on investment just isn’t there.
Location doesn’t matter and there is a stronger emphasis on a refined and focused body of knowledge and the greater need to rely on a body of referring doctors.
Generally speaking, specialists usually start their practices from scratch and gradually build up to full time private practice.
Where you may consider paying goodwill for a specialist practice is in situations where a large part of the clinic’s income comes from plant and equipment such as radiology, sleep disorder units, cardiac assessment centres and specialist dentists.
Have you done your due diligence on the business?
One of the first things you’ll need to do when you find a potential doctors practice is to find out why the vendor is selling in the first place.
Is the clinic sinking and does the current practitioner want to jump ship?
To get a clearer picture, ask for three years business bank statements for the clinic and go over them with your accountant. Make sure they’re bank statements and not profit and loss statements - these aren’t as reliable.
You’ll also want to be provided with evidence that all rates, taxes and other outgoings have been paid up to date.
These records should be readily available so if it seems like the vendor is trying to hide this information, that should send up a red flag about the deal.
In relation to the medical centre’s service offering specifically, it may be a good idea to ask another doctor, or an external practice consultant, to prepare a critique of the practice and to list ways the practice can be improved:
If a practice is operating from premises that are not as ideal as the premises occupied by other practices in its locality, it could pay to upgrade them.
Generally speaking, patients don’t like visiting sub-standard practice premises and doctors tend to spend too little money on their premises.
Spending more will generally mean you attract more patients beyond your referral base and repeat business.
What are you actually buying?
It’s really important to understand what you’re getting for your money when you’re buying a practice.
For example, you’ll normally agree to take on all liabilities owed to staff, including any sick leave, annual leave or long service leave. An estimate of these liabilities will be deducted from the agreed sales price.
Depending on the size and nature of the medical centre, staff entitlements can outweigh goodwill so the purchase price should be negotiated with the help of your solicitor.
You should also consider what equipment and medical supplies, if at all, are included in the purchase price. This will vary depending on whether the practice is a specialist clinic or not and, again, this can be negotiated when it comes time to setting an agreed purchase price.
Should you defer payment if certain terms aren’t met?
The vendor may advertise that the practice generates a certain amount of turnover per annum. If for any reason the results from the practice are not met, you may want to withhold all or part of the final payment owed to the vendor.
Another thing to consider is that the vendor will be looking to minimise the amount of the total consideration apportioned to plant and equipment in the practice. The reason is that the extent that this amount exceeds the market value of the business will be assessable income in the vendor's hands for taxation purposes.
On the other hand, you'll want to maximise the amount of the total consideration apportioned to plant and equipment because this will maximise the depreciation expense able to be claimed by the vendor in subsequent years.
Often the matter is settled by giving the plant and equipment a value equal to the vendor's depreciation values for income tax purposes. Please seek professional financial advice before making a decision.
Do you need licences and permits?
After your initial 8 years of medical training, it’ll take about 3 to 4 years to become a family doctor through vocational training but it really depends on what you want to specialise in.
For example, it takes 5 years to complete a fellowship with The Royal Australian and New Zealand College of Ophthalmologists and 4 years to complete the fellowship of The Australasian College of Dermatologists.
Once you’re qualified to practice medicine, you’re free to open your own practice but the medical industry is strictly regulated, particularly when it comes to Occupation, Health & Safety (OH&S).
Medical professionals like GPs, dentists and optometrists will have to ensure they’re meeting the requirements of the Health Practitioner Regulation National Law and state equivalents, while vets will need to adhere to the Veterinary Practice Act 2003.
Is there key man risk?
Beware of practices that are overly reliant on one doctor. You may want to engage someone to take over a group of patients. In this way, you’ve traded personal goodwill for practice goodwill.
Other key members of the practice may not be doctors or specialists at all but may be part of the support team, administration, accounts or reception.
They often go above and beyond what is set out in their job description and can easily run their part of the business. The practice would be lost without them.
Depending on how important the staff member is in keeping your business profitable, you may consider getting key man risk insurance.
What you can do in the meantime though is put in systems and procedures in place that help to replicate what this staff member undertakes on a daily basis to ensure you can continue to run an optimum business.
What kind of lease term should you get?
Most medical practices are sold for 5-year lease terms as a minimum although there is a 5-year waiver that you can apply for in Victoria.
Generally, 3-5 year lease terms are appropriate but it really comes down to how much work the practice premise needs. If it’s just cosmetic renovations (typical with converted residential properties) than 3 years may be enough.
Five year lease terms or longer may be required if major construction and fit-outs are required over the period that you’re running the practice.
The good thing about a long lease is that it provides you with stability to firmly establish your practice in town and protects you from having to move in case the landlord decides to sell the premises. This would be a disaster.
Although you’re likely planning to spend the rest of your career building up your practice, you can generally negotiate for more from the landlord the longer the lease is. For example, you may be able to negotiate for free rent for a few months.
This really depends on the nature of the practice premise (location and structure) and the market in general i.e. how desperate is the landlord for new tenants?
It’s essential you speak to an accountant or financial adviser about which lease term will fit better with your long term financial goals.
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No doc commercial loans are only available for prime security properties. Acceptable properties include:
Unacceptable properties include:
Not sure whether your property will be accepted as security for a loan? Call us on 1300 889 743 or fill in our free assessment form to find out if you qualify for a commercial no doc loan.
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Working more than one job can be very demanding!
There can also be a lot of additional responsibility involved.
If you are working a second job, make sure you:
Applying for a home loan? Let us make it easy for you! Enquire online or call us today on 1300 889 743 to speak to an expert mortgage broker who can help you get approved!
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Generally, the maximum period of leave that lenders can consider is 12 months. However, they view smaller periods such as 6 months or 18 weeks more favourably.
We have a lender on our panel who can consider your application if you’re returning to work within 2 years of parental leave.
If you're clearly going to struggle to afford the loan while on leave, the bank won't approve your application. All lenders we deal with practice responsible lending.
To discuss your situation with an expert mortgage broker, contact us on 1300 889 743 or fill in our free assessment form today. We can help you get approved, even if you're going on maternity leave.
Paid or unpaid maternity leave?
Paid maternity leave is viewed more favourably by the banks. The problem most people face is that often you may only be paid half of your normal salary while on leave, and so most lenders won't assess your loan based on your normal salary.
Unpaid maternity leave is treated by almost all banks as if you were unemployed! Even if you have a set date to return to work, many will still not approve your loan until you're actually back at your job.
Luckily, not every lender views unpaid leave that way. To find out which lender will approve your mortgage, contact our expert mortgage brokers on 1300 889 743 or fill in our free assessment form today.
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When banks consider lending to mothers who are staying at home with their newborn child, they generally take into consideration the length of time until you return to work. They also consider your ability to cover the loan repayments using:
However, the duration of the maternity leave is also an important factor. If you're concerned with your ability to get approval, fill in our free assessment form or speak to one of our mortgage brokers on 1300 889 743 to find out how we can help.
) [2108] => stdClass Object ( [post_id] => 55783 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => Home Loan Experts can show you the government schemes for which you’re eligible and help you apply. Please speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short assessment form to buy your first home. Find out the best path to your new home today! ) [2109] => stdClass Object ( [post_id] => 85468 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Are you feeling overwhelmed by the thought of building your first home in Australia? Don't let the complexities of construction loans hold you back. We've helped thousands of first-home buyers like Harper and Liam achieve their dream of building their own home. Let us show you how we can help you, too. Call us at 1300 889 743 or complete our free online assessment form and we’ll contact you.
) [2110] => stdClass Object ( [post_id] => 41582 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Each mortgage insurer has several LMI products which they use for different types of borrowers.
Their standard LMI product is usually for people who can demonstrate that they have a saved deposit.
In many cases, they may also have a no genuine savings product, such as Genworth Financial’s ‘Homebuyer Plus’ product.
How does the source of your deposit change your LMI premium?
This varies between lenders with some having one set of premiums for all borrowers and others loading the premium depending on various factors.
Our mortgage brokers will compare premiums from several lenders to ensure you get the lowest possible premium.
Please call us on 1300 889 743 or fill in our online enquiry form to discover which strategy is right for you to avoid mortgage insurance.
) [2111] => stdClass Object ( [post_id] => 38991 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
The reason that Interest Coverage Ratio is used in commercial lending all has to do with tax.
All interest and most living expenses are tax deductible in commercial and business operations.
In essence, they're not really expenses that need to be factored in for professional investors or business owners.
Of course, you still need to be in a strong financial position with good cash flow in order to qualify for a commercial loan.
Speak with one of our mortgage brokers about your commercial or business loan needs by calling 1300 889 743 or by filling in our free assessment form today.
We can let you know if you qualify!
) [2112] => stdClass Object ( [post_id] => 36448 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Depending on the size and location of the property, and whether you'll be earning more than $20,000 per annum (policy varies) from agricultural activities, you may actually be able to get a residential loan under hobby farm loan lending policy.
That means you can qualify for residential interest rates!
Please call us on 1300 889 743 or complete our free assessment form to find out how we can help you purchase your rural property.
) [2113] => stdClass Object ( [post_id] => 67371 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>First home buyers often look at only the interest rate when deciding which home loan to take out. But there is much more to consider when determining which loan is right for you. There are many different types of loans, you need to decide which one best suits you situation. For example, should you choose a fixed or variable interest rate? Principal and interest payments or interest-only loans? Redraw or Offset? How long a mortgage term best suits you? Choosing the right home loan can be a complex process. If you need help with it all, contact Home Loan Experts. You can enquire online or call us at 1300 889 743.
) [2114] => stdClass Object ( [post_id] => 67150 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you’re looking for the right investment home loan to start your portfolio, we can help you with our access to select lenders. Call us on 1300 889 743 or enquire online to speak to one of our mortgage brokers, who can compare the home loans available from several lenders. We recommend that you seek independent financial advice before borrowing money to invest.
) [2115] => stdClass Object ( [post_id] => 65763 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>In the last few years, more and more Australians have been turning to digital home loans, which save time and are convenient for those who can't always meet brokers in person. And due to COVID-19, the home loan application process is turning towards the digital format even more quickly. Several lenders don't even have a physical branch, processing every single step of a home loan digitally. During lockdown 2021, you may not be able to leave your home; however, this shouldn't come between you and your dream home. To help you in your home buying journey, we have had a dedicated team working on providing online services for the past several years. From guiding you through online real-estate auctions to updated mortgage calculators, we have tons of solutions if you. Whether you’re looking for a home loan or want to manage your existing mortgage, we can help. Please fill in our free assessment form or give us a call on 1300 889 743, and one of our mortgage brokers will discuss your situation in detail with you.
) [2116] => stdClass Object ( [post_id] => 72460 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our specialist mortgage brokers can help you find the perfect solution when it comes to 95% or 100% LVR home loans. With over 50 lenders on our lending panel, we can recommend the right loan products for you. Call us on 1300 889 743 to speak with one of our specialist mortgage brokers or fill in our free assessment form for expert advice.
) [2117] => stdClass Object ( [post_id] => 61578 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>When you’re on maternity leave, it can be difficult to find a lender but it’s not impossible.
Being on maternity leave should not lock you out of getting a home loan.
At Home Loan Experts, we know banks and lenders that have helped several clients on maternity leave find a home loan. Call us on 1300 889 743 or enquire online.
) [2118] => stdClass Object ( [post_id] => 94685 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Do you have eco-friendly features like solar panels in your home? Are you looking to refinance or invest but need help figuring out where to start? Professional guidance can make all the difference.
Just as Pramesh helped Michael and Jessica uncover hidden opportunities, an experienced broker can help you explore options you might be missing.
Don't miss out on potential savings and incentives – our expert team is here to help you navigate your refinancing journey.
Call us at 1300 889 743 or fill in our free online assessment form to discover opportunities you might be missing. Your enquiry is confidential and comes with no obligations.
) [2119] => stdClass Object ( [post_id] => 57601 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you need a mortgage broker to go above and beyond to get your mortgage approved, you can contact one of our specialist mortgage brokers.
And with 50 lenders on our lending panel, we can find you a solution.
To speak with one of our mortgage brokers, call us on 1300 889 743 or fill in our free assessment form for expert advice.
) [2120] => stdClass Object ( [post_id] => 47635 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our online enquiry form to start your home buying journey today. Learn more about why we're Australia's leading specialist mortgage broker.
) [2121] => stdClass Object ( [post_id] => 47146 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you’re currently making minimum loan repayments, making extra repayments can help you minimise your loan and reduce the overall interest payable on your home loan.
Golden tip: Making extra repayments with an offset account gives you the best of both wolds.A Savings Buffer That Offsets Your Interest
If you make extra repayments to your offset facility, you can ‘offset’ the interest on your home loan.
For example, if you have a mortgage balance of $600,000 and $15,000 in your offset account, you will only pay interest on $585,000.
So how much are you saving?
Well, if you were paying 4.50% annually, you would save $40,856 over the life of the loan and shave one year and one month off your home loan.
Try the offset facility calculator for yourself to discover how much you could save.
If you haven’t done so, a good strategy is to link your salary payments directly to your offset account.
This way, your home loan repayments will be withdrawn automatically, and everything left over will offset your interest.
It’s a clever way to give yourself a savings buffer to soften the blow of higher mortgage repayments.
Access The Funds When You Need Them
Unlike a redraw facility, withdrawing from your offset account is free, other than your annual home loan package fee.
The other drawback on redraw is that this feature is sometimes not available on fixed-rate loans.
An offset account works much like your everyday transaction account, unlike a redraw facility requiring you to transfer funds to your transaction account online or on your bank app.
Unsure what solution is right for you?Call us on 1300 889 743 or complete our online enquiry form and we can discuss your home loan options and help you better manage your mortgage repayments.
) [2122] => stdClass Object ( [post_id] => 94909 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => We believe that people can become financially independent with the correct support and knowledge. Whether you want to investigate equity release possibilities, remove a guarantor, or refinance, we can assist you in proceeding through the process with care, simplicity and confidence. Call us on 1300 889 743 or fill out our free online assessment form to get started, today! ) [2123] => stdClass Object ( [post_id] => 70471 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form to find out if you’re eligible.
) [2124] => stdClass Object ( [post_id] => 44601 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>If you’re unsure about whether refinancing will save you money, call us on 1300 889 743 or enquire online.
) [2125] => stdClass Object ( [post_id] => 68205 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Now that you have the documents you’ll need for a refinance home loan, can you go directly to a bank instead of using a mortgage broker?
The simple answer is yes. However, working with a mortgage broker can give you benefits a bank may not be able to provide, such as:
Home Loan Options
Mortgage brokers will have a variety of home loan options and interest rates from multiple lenders they can offer. They are most concerned with matching you with a home loan that fits your situation. A bank can offer you only its own products, which may not be suitable for you.
Working In Your Best Interests
Mortgage brokers now operate under the Best Interests Duty Act when providing credit assistance to consumers. In other words, we must always act in your best interest when recommending a home loan. On the other hand, if you go to a bank directly, then the bank can act in its own interests and sell you the product that gives it the most value instead.
For example, your bank may be offering a refinance cashback offer of $2000. When you apply directly, you’ll not be informed if another bank you can qualify for has a refinance rebate of $3,000. A mortgage broker, however, must tell you if there’s a better offer available.
Liaising With All Concerned Parties
A mortgage broker will liaise with your lender, valuers and solicitors to ensure a smooth application process. They will be your main point of contact throughout the process to make sure you are in the loop.
Getting You The Best Deal
Mortgage brokers are experts at home loans and understand how to present a mortgage application in the best possible manner. A strong application is usually key to getting a good deal from a bank. Mortgage brokers also have solid relationships with lenders, built over the years, and can negotiate a better deal for you than if you were to apply directly.
For example, when refinancing, your age and retirement plans can determine the loan term you might be eligible for. If you intend to retire in the next 10 years, the lenders may not refinance your loan for a loan term greater than 10 years. However, mortgage brokers can help you in such situations and get higher loan terms by guiding you through appropriate exit strategies suitable to your personal situation.
On top of all these benefits, working with mortgage brokers, particularly at Home Loan Experts, is usually free. Call us on 1300 889 743 or fill in our free assessment form, and start your refinancing journey today!
) [2126] => stdClass Object ( [post_id] => 43552 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Choosing an interest only mortgage over a P&I home loan is not just a matter of being a property investor versus being a homeowner.
There are pros and cons to each repayment type that can have a long-term effect on your overall investment strategy.
We can properly assess your situation and let you know which option best suits your long-term goals.
Speak with one of our interest only loan specialists on 1300 889 743 or by completing our online enquiry form today.
) [2127] => stdClass Object ( [post_id] => 64895 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Home Loan Experts’ team of mortgage brokers will check your equity and loan serviceability to see whether you qualify for a home loan increase. We will submit your application only after making sure it will be approved.
If you are looking to increase your home loan through a fast and efficient process, call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers.
) [2128] => stdClass Object ( [post_id] => 43632 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>It really depends on what you want to achieve but interest only is typically only suited to strong and sophisticated borrowers.
Homeowners are generally better off paying down their mortgage as quickly as possible, even making extra home loan repayments if possible e.g. break costs can apply to fixed rate terms.
Investors, on the other hand, want to minimise their opportunity cost and put their money to work by investing further.
An interest only loan term, therefore, allows you to maintain your cash flow and more agility to build your property portfolio and even flip houses if you're pursuing a capital gains strategy.
Check it out: we cover the topic of IO versus P&I extensively.
Alternatively, fill in our free assessment form or discuss your plans with one of our mortgage brokers by calling 1300 889 743 today.
We're interest only and investment loan experts.
) [2129] => stdClass Object ( [post_id] => 924 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Accepted visas
The list below includes visa types that Australian lenders tend to consider as "non-residents" and will restrict the loan to 80% to 90% of the property value. If you're married to an Australian Citizen or PR, then you can borrow 95% of the property value:
If you're a temporary resident, please call us on 1300 889 743 or fill in our free online assessment form to find out how much you can borrow.
) [2130] => stdClass Object ( [post_id] => 33085 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [2131] => stdClass Object ( [post_id] => 74353 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Addressing the recent rate rise, Home Loan Experts CEO Alan Hemmings said, “All lenders have been passing on the interest rate increases to customers. But we continue to see that the rates offered to new customers are lower. Data from the Reserve Bank and APRA shows the difference is nearly half a percentage point between what new and existing customers pay in interest for an owner-occupier home loan. “On a $500,000 loan, that translates into a difference in repayments of $140 a month. As always, it pays to check your interest rate and speak to a broker about the rates available in the market.” He also said potential buyers need to be aware of potential changes in their borrowing power. “For those customers looking to buy in this market, it is important to continue to talk to your brokers,” Hemmings said. “Considering this is the seventh straight month of cash rate increases, the amount a customer can borrow will have changed. Even if a client is pre-approved, the lender may recalculate borrowing limits once a property is found.”
Our mortgage brokers know how to get you the best deal as interest rates rise. We can help you refinance to keep your home loan’s interest rate competitive. Call 1300 889 743 or enquire online to speak to one of our expert brokers today!
) [2132] => stdClass Object ( [post_id] => 72587 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>An increase in a bank’s standard variable rate also raises the rate used for determining serviceability, which is the interest rate on an individual loan plus the buffer rate. The higher this number goes, the less people can borrow. We did the maths on how a 0.5-point rate hike affects your borrowing power. A person earning $100,000 would see a $24,100 reduction in their borrowing capacity. A person making $150,000 would experience a decrease of $35,500, while a person making $200,000 would see a reduction in borrowing power of $47,400.
We've outlined some tips to prepare for a rate rise. We can guide you through the right steps to prepare for increases, whether through refinancing or simply managing your home loan more effectively.
Our mortgage brokers know how to get you the best deal as interest rates rise. We can help you refinance to keep your home loan’s interest rate competitive. Call 1300 889 743 or enquire online to speak to one of our expert brokers today!
) [2133] => stdClass Object ( [post_id] => 73947 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => A pre-approval loan can give you the confidence to make a stronger bid. Our expert brokers are here to help you find the right loan to strengthen your offer. Call us at 1300 889 743 or fill in our free online assessment form.) [2134] => stdClass Object ( [post_id] => 29422 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
No, Australian expats in the UK will not pay the foreigner stamp duty surcharge that applies to most Australian states and territories.
However, if you're married or in a de facto relationship with a foreign partner, you should consider buying the property in your name because you may still be slugged with the surcharge.
If you buy the property in your name but have both you and your spouse on the loan, you will be able to avoid foreign stamp duty.
You can find the lending criteria and advantages of this loan on one on title, two on loan page.
If they are an Australian PR holder living outside of Australia then the rules vary between states. So, it's best that you and your partner contact the relevant state government.
What home loan features are available?
Australian expats in the UK have access to all of the same home loan features as a normal Australian resident, including:
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free online assessment form and we can help you select the features that will help you best manage your mortgage in Australia.
Can I get approved with a big four bank?
As long as you meet standard lending criteria, we can usually get Australian expats in the UK approved with a major lender. Approval with a big four bank can be a little trickier, especially if your spouse isn’t an Australian citizen or a permanent resident.
A major bank may restrict your borrowing to 80% of the property value. But, depending on the application strength, you may be able to borrow up to 90% of the property value with a major lender instead.
What is the loan application process in Australia?
The loan application process in Australia generally starts with getting a “pre-approval” from a lender. You’re usually best doing before putting down a deposit on property because there’s no guarantee that you’ll get approved for a mortgage.
A pre-approval is not a full approval either. It’s an approval issued by the lender subject to particular conditions and is valid for up to 90 days with most lenders.
However, as long as your situation and the property security meets standard lending policy, you’re likely to get approved for a home loan.
Unconditional approval or formal approval is granted when the lender has completed a property valuation and can confirm everything about your situation including your income and expenses. To confirm their approval, the bank will issue an approval letter, which you’ll have to sign and send to the bank.
If you haven’t provided everything the lender needs the first time around, it can really delay the application process. This is particularly true if you’re an Australian expat so it helps to speak with a mortgage broker that can assist Aussies in the UK with their home loan application.
To ensure a smooth settlement process, it also helps to seek the services of a qualified solicitor. In most cases, settlement takes around 4-6 weeks after the Contract of Sale is signed.
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With the worry of getting her home loan pre-approved gone, Joanna is busy looking for a perfect home for her and her daughter.
Her father is happier than ever that he could be a special part of his daughter's life.
Can a retired person be a guarantor?
Just because you're retired, it's not the end of the road for you to be a guarantor.
Being a guarantor for your child when they are buying their first home is a fulfilling experience.
Call us on 1300 889 743 or fill in our free assessment form and become a guarantor for your child’s first home.
) [2136] => stdClass Object ( [post_id] => 98012 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our brokers are specialists in discounts on professional athlete home loans
To apply for a mortgage with us, contact us on 1300 889 743 or enquire online.
) [2137] => stdClass Object ( [post_id] => 98031 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Our mortgage brokers know which lenders mortgage insurers are the cheapest.
Some lenders offer specials in an attempt to gain additional market share and, in many cases, these LMI specials are not advertised to the public.
Please complete our free assessment form or call us on 1300 889 743 to discuss your situation with one of our specialist mortgage brokers.
) [2138] => stdClass Object ( [post_id] => 98034 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>No Lenders Mortgage Insurance LMI
In some cases accountants may qualify for waived LMI with their home loan. This could save you around $24,000 for a 90% loan on a $1,000,000 property!
The main qualifying criteria are:
*This includes your taxable income and rental income. It doesn't include your spouse's income.
To find out more please call us on 1300 889 743 or fill in our free assessment form.
Special interest rate discounts
Some accountants don't qualify for a waived LMI premium or don't need it as they are borrowing less than 80% of the property value.
In this case we can offer special negotiated interest rate discounts on your home loan. The discount will depend on:
These professional discounts are all considered on a case by case basis. Please call us on 1300 889 743 or fill in our free assessment form for more information.
) [2139] => stdClass Object ( [post_id] => 98046 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
The most important takeaway for first-time buyers is that your first home doesn’t need to be your forever home, it just needs to be a smart investment that works for your current situation. By focusing on getting onto the property ladder, building equity, and staying flexible with your future plans, you position yourself for greater opportunities down the road.
At Home Loan Experts, we’ve supported thousands of first-home buyers in getting approved for their mortgages. Whether you’re looking for advice, or need help with the approval process, we’re passionate about making your journey easier and increasing your chances of success.
Call us today at 1300 889 743, or complete our free online assessment form to get personalised guidance and take that first step.
) [2140] => stdClass Object ( [post_id] => 98049 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>We're here to help you every step of the way. Our team of expert mortgage brokers will guide you in making the best decision for your financial goals and comfort level. We don't just explain rates, we take the time to understand your unique situation – your income stability, long-term plans, and overall financial picture. This way, we can match you with the perfect mortgage.
Call us on 1300 889 743 or complete our free online assessment form today!
) [2141] => stdClass Object ( [post_id] => 98051 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
Our expert mortgage brokers are here to simplify the process. With their personalised advice, you’ll gain clarity and confidence in your decision, whether you're renting, leasing, or ready to buy your dream home.
Call us today at 1300 889 743 or enquire online, free. Take the first step toward your perfect home now!
) [2142] => stdClass Object ( [post_id] => 98055 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Do you need a home loan to pay out your divorce settlement? Our mortgage brokers are experts in divorce mortgages and can help you get approved at a great interest rate.
Please call us on 1300 889 743 or enquire online to find out how we can help you.
If you still have questions, feel free to comment below and we’ll get back to you as soon as possible.
) [2143] => stdClass Object ( [post_id] => 98057 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => As experienced mortgage brokers, we're here to support you every step of the way, whether you're thrilled by the energy of an auction or prefer the thoughtful approach of a private sale. Your decision is unique, and we're ready to assist you in making an informed choice. To speak with one of our mortgage brokers, call 1300 889 743 or complete our free online assessment form. ) [2144] => stdClass Object ( [post_id] => 98065 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Ready to take the first step towards your dream home? Start by cultivating these smart financial habits recommended by our mortgage experts. Contact us today at 1300 889 743 to learn more or fill out our free online assessment form to get started on your path to homeownership.
) [2145] => stdClass Object ( [post_id] => 98079 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>At Home Loan Experts, we understand the complexities of an appraisal gap and its effect on the home loan process. Our mortgage brokers have years of experience helping clients negotiate better terms with lenders and get through the entire loan application process without any hassle.
Call us on 1300 889 743 or complete our free online assessment form to get started with your home loan process today!
) [2146] => stdClass Object ( [post_id] => 98080 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => If you've decided to build or buy your home, our mortgage brokers can help you find the right mortgage to finance your dream. Call us on 1300 889 743 or complete our free online assessment form. ) [2147] => stdClass Object ( [post_id] => 98089 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>Are you looking to buy a property in Australia? Our mortgage brokers are here to help. You can borrow up to 95% of the property value even as a New Zealand citizen residing in Australia. Call us on 1300 889 743">1300 889 743 or enquire online today.
) [2148] => stdClass Object ( [post_id] => 98090 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] => A pre-approval loan can give you the confidence to make a stronger bid. Our expert brokers are here to help you find the right loan to strengthen your offer. Call us at 1300 889 743 or fill in our free online assessment form.) [2149] => stdClass Object ( [post_id] => 98098 [meta_key] => add_site_layouts_5_post_editor_option [meta_value] =>
No. As a homebuyer, there are loan options that secure you against changing interest rates. Here are various types of loans and the effect changes in interest rates have on them:
Our team of specialist mortgage brokers can help you choose the most suitable home loan. Contact us at 1300 889 743 or fill in our online assessment form and we will contact you.
How To Decrease Your Interest Repayments
If you have a variable-rate loan or a split loan, there are ways to decrease the interest you have to pay. These options may be available for fixed-rate home loans with some lenders as well.
Call us on 1300 889 743 or complete our free assessment form today.
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Normal income verification
The normal way for a self employed person to verify their income to a bank for a full doc loan is to provide:
All lenders will accept the above information as full evidence of your income. However this doesn't work for every self employed person.
What if your tax returns aren't up to date? What if your income has changed since your last tax return was lodged?
The good news is there are other ways to prove your income.
Low doc income verification
With a low doc loan, you still need to provide some evidence of your income due to the NCCP Act.
However, banks are much more lenient, and will use the income that you declare to them along with one of the below documents:
Can you verify your income using one of these methods?
If so, please call us on 1300 889 743 or enquire online and one of our mortgage brokers will go through the low doc options available to you.
Adding back expenses
You provide your two years' tax returns as you would for a normal loan; however, you provide evidence of expenses that the lender should add back to your taxable income.
This increases your taxable income, allowing you to qualify for a loan with full income evidence!
We can add back the following expenses:
Not every lender can use these "add backs".
Who can use this method?
This is particularly useful for people who have a business that has significant depreciation. For example, a trucking company, video store or any business with many depreciable assets can use this method.
However, any business with a good income yet has had some major expenses in the previous year can consider this option.
How much can I borrow?
This is a full doc loan, otherwise known as a normal loan. You can borrow up to 95% and you can obtain discounted interest rates.
Trust income
Some people have a complex financial situation with many companies and trusts set up, yet have a taxable income that can easily prove affordability.
This is common with business owners who are trying to maximise asset protection.
Banks typically require that you provide financials for all of these entities which is often unnecessary.
Some of our lenders will allow you to provide two years Notices of Assessment (NoAs) without any tax returns.
To qualify, you must be self-employed and be borrowing no more than 80% of the property value.
Need to verify your income alternatively?
There are several ways to verify your income! Our experienced mortgage brokers can assess your situation to recommend the best option for you.
Please call us on 1300 889 743 or enquire on our website to speak with one of our mortgage brokers and find the best solution for you.
[wbcr_snippet id="71865"] ) [2251] => stdClass Object ( [post_id] => 31265 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free online assessment form to speak with one of our mortgage brokers.
We can let you know if your parents can use a term deposit as security for home loan.
) [2252] => stdClass Object ( [post_id] => 284 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Please call us on 1300 889 743 or complete our free online assessment form and we will go through your situation in detail to find the most suitable lender and fixed rate package for you.
[wbcr_html_snippet id="74484"] ) [2253] => stdClass Object ( [post_id] => 32537 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form to find out if we can get you approved for a child support home loan.
Do you receive Centrelink benefits other than child support?
Check out our Mortgage with Centrelink Benefits page for more information.
) [2254] => stdClass Object ( [post_id] => 67396 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>With everything there is to consider, having an expert mortgage specialist by your side helps heaps.
Home Loan Experts can help you pick the right loan option and evaluate your home loan situation for the best possible outcome. Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2255] => stdClass Object ( [post_id] => 35500 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Once you complete the enquiry form on the SumoSalad website, the next step is a one-on-one interview with their area business development manager.
A follow-up interview will usually follow.
It's important to ask for the UFOC or franchise kit as soon as possible so you understand the nature of SumoSalad's franchise model and what you're signing up for.
Once you get to the franchise agreement stage it's important to:
If you're ready to apply for a SumoSalad franchise loan and aren't sure where to go, call us on 1300 889 743 today.
) [2256] => stdClass Object ( [post_id] => 70427 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => We can assist you in obtaining an investment loan with CBA. On your behalf, our brokers can negotiate and obtain favourable CBA investment loan rates. Not only that, but they can also help you with the paperwork and provide support from application to settlement. To book a consultation with a Home Loan Expert broker instantly, please call us on 1300 889 743 or fill in our online assessment form. ) [2257] => stdClass Object ( [post_id] => 77970 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Let our expert mortgage brokers help you secure the best rates and terms for your refinancing needs. Contact us now to get started. Call us on 1300 889 743 or fill in our free online assessment form for expert advice. ) [2258] => stdClass Object ( [post_id] => 54793 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Our expert mortgage brokers understand the policies of over 40 lenders and will help you apply with the right lender who will accept your unique employment status.
Call us on 1300 889 743 or fill in our free assessment form.
) [2259] => stdClass Object ( [post_id] => 11805 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>While the banks may give staff discounts on their products, brokers can offer deals from all the lenders they work with. This gives them a greater range of products to choose from, and therefore a better chance of not only finding great deals, but also the most suitable product for your needs.
Some mortgage broking companies also have special partnerships with lenders.
In some cases, they will be able to offer their clients better deals from those lenders than would otherwise be available.
In a few cases, we’ve been able to get bank staff better deals from their employer than they could get on their own.
To find out more enquire online, or call us on 1300 889 743.
) [2260] => stdClass Object ( [post_id] => 1832 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our Disqus comments section has been specifically set up to allow people who need advice about their situation, but may not yet ready to apply for a loan. Feel free to join up and ask us any questions you have about your home loan, while you prepare to lodge an application for pre-approval..
When you are ready to buy a home, please call us on 1300 889 743 or enquire online and one of our mortgage brokers will help you find a mortgage package that suits your needs. Speak to us today!.
) [2261] => stdClass Object ( [post_id] => 82075 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>With increased income and borrowing capacity come new opportunities for financial planning. It’s crucial to assess your situation and align your financial goals.
If you aim to buy a home and invest wisely, the team at Home Loan Experts are passionate about helping you. Call us on 1300 889 743 or enquire online free, today.
) [2262] => stdClass Object ( [post_id] => 56567 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => If you decide to refinance, working with a broker has advantages instead of going straight to a lender.Mortgage brokers are very familiar with the rate changes. Hence, they would be able to evaluate if your loan is maintaining its competitiveness or if it’s time to re-negotiate or shift lenders.At Home Loan Experts, our mortgage brokers can help you with refinancing your home loan as we:Have access to over 40 lenders
We assess your situation and connect you to the right lender who can approve the loan. We try to ensure that refinancing to a new home loan product will be able to suit your long-term financial capacity, and your property goals.If there’s a better opportunity for you, we make sure that you’re able to access it.Understand your situation
We evaluate your financial situation, your income, any other existing debts and any assets you own.While refinancing, the current value of the property is also taken into consideration, so we will have access to the data that indicates what your property is likely to be worth.We will then review the various loan options and figure out whether it’s worth it for you to refinance. In some cases, we can tell if getting a lower interest rate from your current lender can be achieved without refinancing.Talk to a mortgage broker
Please call us on 1300 889 743 or enquire online to talk to one of our specialist mortgage brokers to go over your options for refinancing. ) [2263] => stdClass Object ( [post_id] => 7957 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you are concerned about the increase in variable interest rates and want more financial stability, it may be time to apply for a fixed rate home loan.
By getting a fixed rate home loan, you will have peace of mind, that any further increase in interest rates will not affect you.
Contact us today on 1300 889 743 or enquire online to find out how much we can save you on a fixed rate home loan.
) [2264] => stdClass Object ( [post_id] => 30426 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Get The Experts On Your Side
Whether you’re a first-time investor or a veteran investor, our mortgage brokers are here to help you every step of the way. Some are even seasoned property investors who know firsthand the pitfalls and rewards of investing in property. Call us on 1300 889 743 or enquire online today. [wbcr_snippet id="72520"] ) [2265] => stdClass Object ( [post_id] => 43779 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Like any business, flipping houses requires money and time, planning and patience, and significant research.
Most investor renovators agree that one of the first steps you should take is to get a mentor with significant experience.
Understand that flipping houses is not a get rich quick scheme so here are some golden tips you should follow.
Cut costs where you can
Most people borrow against their home and then use the equity to fund their house flipping plans.
In this way, you don't need to apply for a new home loan each time and can potentially avoid expenses like Lenders Mortgage Insurance (LMI) and loan set up fees.
If you don't have enough equity or only have a small deposit, then consider a guarantor loan.
Pay directly for tradesmen rather than paying a contract builder
If you can fund the renovation work using your own funds then there's no need for a contract builder.
Hiring tradesmen directly will make the renovation cheaper.
If you need to borrow the cost of construction, the bank will require you to use a licensed builder which will cost you a little more than if you were to do a lot of the work yourself.
In addition to this, your borrowing power will rely on the "on completion value" which will typically be lower than what you are likely to sell it for because banks are really conservative!.
Buy low and sell high
Sounds pretty obvious but it's easier said than done.
You not only have to identify the potential in a property but you need the negotiation skills to buy below market value.
The other challenge is that you'll face this same aggression from a buyer when it comes time to sell your property.
To get a fair price, most house flippers set a slightly higher price and negotiate with the buyer to get as close as possible to market value.
Buy low
You not only have to identify the potential in a property but you need the negotiation skills to buy below market value.
Here are 5 tips for negotiating:
Check out our 'How To Negotiate' page for a full breakdown on these tips.
Sell high
On the other side, you'll face lowball offers from buyers when it comes time to sell.
Investing in a good real estate agent is critical because they will help highlight the property features and the benefits of living in the location when open-housers start showing up at your door:
It goes without saying that you should discuss with them the potential of getting a better price going to auction rather than a private sale.
The condition of the property
If the property is in a bad condition, you're in a much stronger position to make a low offer.
However, the condition of the property will also affect your chances of getting approved for an investment loan.
If the property cannot be rented out in its current state, you won't be able to get approved if you don't have a building contract in place to prove you are fixing it.
If the property can be rented out today, getting an investment loan will be possible.
It comes down to choosing a property that needs a bit of work but is, otherwise, liveable.
In some cases, we may be able to get you approved to borrow up to 80% of the land value and the banks will accept this even if the property is in a really bad condition.
This strategy is only suitable to borrowers in a strong financial position who have significant cash flow on standby to put towards the purchase.
The ideal property will be one which is cosmetically bad (old kitchen, old bathroom, paint falling off the wall, grass and landscaping is overgrown etc.) but structurally very good (floor has no holes, has a bathroom, no smashed windows etc.)
We are experts in house flipping loans as well as residential development and commercial development loans!
Please call us on 1300 889 743 or fill in this free enquiry form to speak with one of our mortgage brokers about your investment plans.
) [2266] => stdClass Object ( [post_id] => 417 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Please call us on 1300 889 743 or complete our free assessment form for more information about how we can help you. Our mortgage brokers are specialists in financing remote properties and large blocks of land so they can quickly let you know if you can qualify for a mortgage. [wbcr_snippet id="73491"] ) [2267] => stdClass Object ( [post_id] => 69989 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Call us on 1300 889 743 or fill in our free assessment form to start your home buying journey today.
) [2268] => stdClass Object ( [post_id] => 27196 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form and one of our specialist mortgage brokers can help you qualify for the right home loan for your needs as well as provide resources and guidance on the entire home buying process.
) [2269] => stdClass Object ( [post_id] => 57565 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our mortgage brokers are experts at home loans for non-residents.
We know which banks can lend to Singaporean investors and the documents you'll need to submit for loan approval.
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify.
) [2270] => stdClass Object ( [post_id] => 32551 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Yes, really! While most banks only allow you to pay interest only for 5 years, there are others that allow interest only home loans for up to 15 years!
If you'd like to find out more about long term interest only periods then call our mortgage brokers on 1300 889 743 or fill in our free assessment form.
Will having interest only loans reduce my borrowing power?
Yes. Interest only repayments will reduce your borrowing power with some lenders. This is because they calculate your serviceability based on the repayments after your interest only payments end.
In other words, on a 30-year loan with a 10-year interest only period they'll be assessing your ability to pay the loan back over 20 years!
) [2271] => stdClass Object ( [post_id] => 71745 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Our brokers specialise in assisting medical professionals, such as podiatrists, in locating the best lender with the most affordable rates and interest rate discounts.
Call us on 1300 889 743 or enquire online to speak to one of our brokers today.
[wbcr_html_snippet id="73985"] [wbcr_snippet id="74193"] ) [2272] => stdClass Object ( [post_id] => 54299 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Looking to rapidly build your investment portfolio?
Getting the right mortgage strategy is just as important in choosing the right real estate.
One thing investors often overlook is mortgage exposure limits and how they can stop your plans for growing your portfolio.
Speak with one of our expert mortgage brokers on 1300 889 743 or by completing our free assessment form today.
[wbcr_snippet id="74540"] ) [2274] => stdClass Object ( [post_id] => 80207 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Don't let the complexities of self-employment hold you back – reach out to a mortgage broker today and embark on your homeownership journey with confidence. At Home Loan Experts, our team will be there with you every step of the way. We are dedicated to finding the right solution for your unique situation. Call us on 1300 889 743 or enquire online.
) [2275] => stdClass Object ( [post_id] => 53195 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => The CGT main residence exemption still applies. In the case of the death of a foreign resident, then the changes will apply to:Before you start looking for your next investment property, consult with one of our award-winning specialist mortgage brokers.
We specialise in aussie expat home loans.
Give us a call on 1300 889 743 or fill in our short online assessment form today.
) [2277] => stdClass Object ( [post_id] => 26357 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Sharia compliant mortgages, in most cases, offer the same features as a conventional home loan.
Some sharia products actually speed up the transfer of property ownership while others provide the option of lower payments if you make lease payments only.
Although there are some Islamic banks that are less restrictive, most only provide their services to Muslims. In fact, it’s not uncommon for some shari'ah compliant lenders to request additional documents regarding the client’s faith in order to move the loan process forward.
Home loans that adhere to shari’ah can be more expensive than typical mortgages when you consider the special circumstances surrounding the loan.
For example, if you’re applying for a lease on a property, additional costs such as legal/government fees, stamp duty and valuation fees will all be added to the overall lease, therefore the lease payments will be higher.
You should speak to finance professional such as a qualified mortgage broker before making a decision on a financial product.
You can call us on 1300 889 743 or fill in our online enquiry form.
) [2278] => stdClass Object ( [post_id] => 47812 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Speak with a business loan specialist for all of your equipment finance needs.
Simply call 1300 889 743 or fill in our online enquiry form to find out if you can get approved for no doc equipment finance.
) [2279] => stdClass Object ( [post_id] => 428 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Some people choose to get valuations from multiple lenders and then apply with the lender that has the highest valuation.
This can allow them to borrow more money or reduce the LMI premium they’d pay.
In theory, this works just fine, but in practice, most lenders require you to apply for a loan before they will do a valuation.
If you apply with multiple lenders then you are almost certain to fail credit scoring for too many enquiries on your file.
However, some lenders can allow you to order a valuation prior to submitting a loan application.
Call us on 1300 889 743 or complete our free assessment form.
We can help you to order valuations prior to applying for a loan so that you can maximise the amount that you can borrow.
) [2280] => stdClass Object ( [post_id] => 9734 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
At Home Loan Experts, this is the simplified process we follow to solve a loan scenario where your borrowing power is the main issue:
We have specialist mortgage brokers who can work out on your borrowing capacity and increase the amount you can borrow. So, Why not speak to us today? Call us on 1300 889 743 or fill in our online assessment form to get started.
) [2281] => stdClass Object ( [post_id] => 53654 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Most businesses are operating profitably during good times and so an event like this is a cash flow issue rather than a long term profitability issue.
For this reason, there are several options to use debt that can help you to take action quickly to avert disaster.
Email your Home Loan Experts mortgage broker, call us at 1300 889 743 or fill in our free assessment form if you’d like assistance with one of these options.
) [2282] => stdClass Object ( [post_id] => 68987 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our expert mortgage brokers know how to help expats find their dream home. Speak with a Home Loan Experts specialist mortgage broker by giving us a call on 1300 889 743 or by filling in our short online assessment form.
) [2283] => stdClass Object ( [post_id] => 35391 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Our mortgage brokers have many years of experience working in the credit departments of some of the biggest lenders in Australia including the major banks. We have a wide range of lenders to choose from including specialist or non-conforming lenders that focus on borrowers with bad credit. Please call us on 1300 889 743 or complete our free assessment form to speak with one of our bad credit mortgage brokers. If you need free financial counselling, call the National Debt Helpline on 1800 007 007.[wbcr_snippet id="73735"] ) [2284] => stdClass Object ( [post_id] => 26262 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Unfortunately, you’ll have to be more than a criminal to buy a property in Australia in the 21st century (although it kind of depends on how good a criminal you are).
Property prices have skyrocketed over past decade with Sydney now one of the top 10 most expensive cities in the world.
Check out our home buying process guideline to get a clearer understanding of what you’ll need to buy a home in today’s world.
Better yet, if you’re not too sure what you need to do to own your own piece of the Australian dream, call us on 1300 889 743 or complete our free assessment form to speak with one of our experienced mortgage brokers.
We can help you qualify for a home loan that’s right for you!
) [2285] => stdClass Object ( [post_id] => 48572 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our mortgage brokers have worked at the credit department of many banks and specialist lenders so they understand exactly how lenders assess bad credit home loan applications.
Give us a call on 1300 889 743 or fill in our online assessment form to find out if you qualify.
[wbcr_snippet id="73719"] ) [2286] => stdClass Object ( [post_id] => 58318 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Call us on 1300 889 743 or fill in our free assessment form to start building your investment property portfolio. ) [2287] => stdClass Object ( [post_id] => 949 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Want to make sure that you are able to borrow the maximum LVR? We can help you apply with a lender that understands trust loans and offers attractive interest rates and minimal fees.
Speak to us today on 1300 889 743 or enquire online and one of our specialist mortgage brokers will call you to help you get fast approval.
) [2288] => stdClass Object ( [post_id] => 74351 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => The right time to buy a house isn't always when it's in your favour. Waiting for the perfect opportunity could lead you to miss out on buying an affordable property, or being priced out of properties that are currently available and within reach! If you're unsure whether you should buy right now or wait, Home Loan Experts’ mortgage brokers will help you make the right decisions. Call us on 1300 889 743 or enquire online today. ) [2289] => stdClass Object ( [post_id] => 50475 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Over the years, our mortgage brokers have developed strong relationships with almost 40 lenders on our panel, and it is often be the difference in getting a deal over the line.
For expert advice, give us a call on 1300 889 743 or fill in our online assessment form to discuss your needs.
) [2290] => stdClass Object ( [post_id] => 47951 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Mortgage brokers aren't tied with a particular lender. This way they can help you compare and choose a range of lenders and products.
The market is always changing and new products are always coming up. A specialist mortgage broker can help you choose an option that suits your business.
If you want to learn more about why to use mortgage broker, you can check out the why to use a mortgage broker infographic.
You can call us on 1300 889 743 or complete our free online application form and speak with one of our specialist mortgage brokers.
) [2291] => stdClass Object ( [post_id] => 19726 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Losing your job, incurring illness or injury, or going through a divorce can be emotionally devastating for you and your family and it only compounds matters when you then struggle to make your mortgage repayments on time.
If you are experiencing financial difficulty, talk to your bank.
Explain your situation and they may be willing to work with you and give you a short-term repayment holiday so you can get back on track.
Most of the major banks have a hardship programs in which they can assist you by temporarily charging interest only on your loan.
Other options include:
If you’re an existing client, one of our mortgage brokers can help to find you a solution.
Call us on 1300 889 743 or enquire online today!
) [2292] => stdClass Object ( [post_id] => 1352 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Recently, some lenders have started offering 95% home loans without requiring any proof of savings from the applicant.
This type of loan is only available to people who are in a strong financial position; namely, you must be able to afford all of your debts at a loaded interest rate and living expenses and have a 10% buffer left over.
To qualify for this loan, you must meet the following guidelines:
The following exclusions also apply:
If you don't meet this criteria then you may only qualify for a 90% loan or a 105% loan with the help of a guarantor.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will let you know if you qualify for a mortgage.
) [2293] => stdClass Object ( [post_id] => 79447 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Don't let interest rate uncertainties derail your dreams. Connect with us to schedule a consultation and discover how our expertise can pave the way for your mortgage success. Reach out to us at 1300 889 743 or complete our free online assessment form, and we’ll get back to you. ) [2294] => stdClass Object ( [post_id] => 59803 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => At any point in time, our mortgage brokers know which lenders are offering great interest rates with significant LMI discounts. Some lenders offer specials in an attempt to gain additional market share, our mortgage brokers are aware of them but in many cases, these LMI specials are not advertised to the public. To find out which LMI discounted home loan you qualify for, please complete our free assessment form or call us on 1300 889 743 and discuss your situation with one of our specialist mortgage brokers. ) [2295] => stdClass Object ( [post_id] => 27429 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Apart from the 15% deposit for the property, there are a few other costs that you’ll need in order to complete settlement.
These extra costs will bring the total amount you require to about 19% of the purchase price. The extra costs cover things like:
There may be other fees charged so check out a complete guide here.
Keep in mind that if you’re a first home buyer, you may be eligible for the First Home Owners Grant and stamp duty waivers depending what state you live in.
First home buyers may also, in fact, qualify for the federal government's new First Home Loan Deposit Scheme, allowing you to avoid paying any LMI fees at all.
Call us on 1300 889 743 or complete our free assessment form and we can tell you exactly how much you’ll need to buy a home with a 15% deposit.
) [2296] => stdClass Object ( [post_id] => 9639 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Our borrowing power calculator takes a very different approach to helping you find the most suitable loan:
In fact, the borrowing power calculator is so accurate that it even copies small errors in the tax rates used by some of the banks. If you’d like to get the best mortgage deal then please fill in our free online assessment form or call us on 1300 889 743 and one of our mortgage brokers will provide you with an obligation-free quote.
We have extensive knowledge of lender serviceability criteria, so we can provide you with an accurate assessment of how much you can afford to borrow.
) [2297] => stdClass Object ( [post_id] => 59701 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Expat lending is a complex area. So you want a broker with experience and expertise.
Our mortgage brokers have significantly more experience than other brokers in expat lending for which we’ve won multiple industry awards.
We’ve helped settle hundreds of mortgages for Australians living and working all over the globe but more particularly in the United States, Hong Kong, Singapore, United Kingdom, Europe and the Middle East.
Interestingly, our mortgage brokers pride themselves on being credit experts as opposed to being just salesmen. What this means is that they’re constantly on top of changing lending policies of almost 50 lenders that are on our panel. They also understand which lenders have favourable lending policies and appetite for expat loans at any given time. This allows our mortgage brokers to work out the strengths, weaknesses and mitigants of your situation and get an exception to policy when required.
Also, over the years, we have built up great working relationships with key decision-makers at the banks. This allows us to get deals on the fringes or unusual cases approved.
It also helps that we’re located in Sydney, New South Wales (NSW) where most of the bank’s headquarters are.
More importantly, we can also negotiate significant discounts (pricing discretion).
You can get your application assessed by one of our specialist expat mortgage brokers in Australia by calling us on 1300 889 743 from within Australia (+61 2 9194 1700 from outside of Australia) or by filling in our online assessment form.
) [2298] => stdClass Object ( [post_id] => 13815 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>There isn’t much point in opening a credit card with a lender to build a history with them, if that lender would never approve your loan anyway!
By speaking to our mortgage brokers you can find out which bank is likely to help you and then you can begin to build a history with them.
We are specialist mortgage brokers who understand the credit scoring systems used by the banks. Please call us on 1300 889 743 or enquire online and we can then help you to improve your credit score and apply with a lender that can accept your situation.
[wbcr_snippet id="75439"] ) [2299] => stdClass Object ( [post_id] => 7850 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
The banks are constantly in competition with each other on their fixed interest rates and in many cases one or two banks will have a special for 3-year and 5-year fixed rate loans.
So it's not likely that your bank will be the cheapest at the time you fix.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers can give you a quote for the best current fixed rate loans from our lending panel.
If your bank refuses to match these rates then it may be worthwhile for us to refinance your loan to another lender.
) [2300] => stdClass Object ( [post_id] => 70259 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>To learn more about investment loans, or to find out if NAB is the right lender for you, contact our specialist mortgage brokers at 1300 889 743 or fill in our online assessment form and we will contact you.
) [2301] => stdClass Object ( [post_id] => 85788 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you're facing unique financial challenges or looking to expand your property portfolio, our team of dedicated expert brokers is here to help. We understand that every situation is different, and we're committed to finding the right home loan solution for you.
Reach out to us today at 1300 889 743 or fill in our free online enquiry form to learn how we can help you secure the ideal mortgage solution and confidently take the next step toward financial success.
) [2302] => stdClass Object ( [post_id] => 287 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Looking for a fixed rate mortgage in Australia? Please do not hesitate to call us on 1300 889 743 or complete ourfree online assessment form about the fixed rate loans suitable for your situation.
Unfortunately, 20 year fixed rates and 30 year fixed rates are not available, however we can show you which lenders have competitive 10 year fixed rates.
) [2303] => stdClass Object ( [post_id] => 53289 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you’re looking to purchase a property, our award-winning brokers are here to help.
Call us at 1300 889 743 or fill in our free assessment form to get pre-approved.
) [2304] => stdClass Object ( [post_id] => 35844 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Assessment rates or floor rates aren't known to the general public so it can be very easy for applicants to fail the bank's serviceability test.
That's because banks don't advertise them!
For example, a single borrower with an annual before tax income of $90,000 (and no debt for simplicity) can borrow up to $534,612 when assessed at 7.25% (P&I 30 year loan term). However, the same borrower when assessed at 5.05% can now borrow up to $653,100 - a boost in borrowing power of $118,488.
For some borrowers, this represents them getting approved for a home loan over being knocked back.
By speaking with a specialist mortgage broker, we can help you choose a lender that will allow you to borrow the amount you need.
Please call us on 1300 889 743 or complete our free online assessment form today.
) [2305] => stdClass Object ( [post_id] => 46713 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Call us on 1300 889 743 or fill in our online enquiry form and we can find a lender that will take a common sense approach to your law firm partnership income.
We can maximise your home loan borrowing power!
[wbcr_snippet id="74821"] ) [2306] => stdClass Object ( [post_id] => 36772 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>A business line of credit can be a great cash flow management tool but you can maximise your savings by negotiating the line fee and setting an appropriate limit for your credit facilities.
Whether you're a developer or a business owner, line of credit facilities are offered by a number of lenders.
However, there can be huge differences in the line fee and other ongoing costs.
Call us on 1300 889 743 or fill in our free assessment form to discover how we can help you with your business finance needs.
) [2307] => stdClass Object ( [post_id] => 53768 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our mortgage brokers are safely working from home, and are here to help you with any credit queries you have.
Call us at 1300 889 743 or fill in our free assessment form.
) [2308] => stdClass Object ( [post_id] => 54967 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our mortgage brokers will discuss your long term plan to assess if you'll benefit from an interest only refinance.
They have relationships with over 40 lenders and know the refinancing policies of each one of them. They can select the right lender by considering your individual circumstances.
Please call us on 1300 889 743 or fill in our free assessment form to discuss your options today.
[wbcr_snippet id="72031"] ) [2309] => stdClass Object ( [post_id] => 55280 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Did you know the First Home Loan Deposit Scheme reservation process requires that you get pre-approved for a home loan within 14 days or you risk losing your place? Similarly, you’re also required to find a property within 90 days (an extension can be granted) of the pre-approval date. As mortgage brokers, we can:
Please speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short assessment form to buy your first home.
) [2310] => stdClass Object ( [post_id] => 422 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will help you to get your mortgage approved!
) [2311] => stdClass Object ( [post_id] => 69552 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Still unsure about which lender is right for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.
We will first discuss your situation, complete a pre-assessment and find suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2312] => stdClass Object ( [post_id] => 34250 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Discover if a multi-option facility is right for you!
Call us on 1300 889 743 or complete our free assessment form to speak with one of our business loan specialists.
[wbcr_snippet id="75568"] ) [2313] => stdClass Object ( [post_id] => 46766 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Call us on 1300 889 743 or fill in our free assessment form to speak with one of our experienced mortgage brokers.
We're specialists equity release and refinancing and can help you build a strong case with the right lender to get your application approved.
) [2314] => stdClass Object ( [post_id] => 79842 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => At Home Loan Experts, our team is driven by a passion for assisting you throughout your home loan journey, from finding the right home loan to navigating the property market's twists and turns. Experience the difference with us – reach out for a consultation today, and let us guide you towards your property goals. Call us at 1300 889 743 or complete our free online assessment form. ) [2315] => stdClass Object ( [post_id] => 27150 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Besides lenders offering their low-deposit home loan products, there are several federal government schemes and grants that can help you buy your home sooner.
Give us a call on 1300 889 743 or fill in our free online enquiry form to find out if we can help you get you approved.
) [2316] => stdClass Object ( [post_id] => 7982 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
If you are looking to apply for a home loan and want to secure the lowest interest rates possible, please speak to us on 1300 889 743 or enquire online.
We have the knowledge relating to fixed rate home loans that most other mortgage brokers lack.
Call us today to find out how we can get your loan approved with a lender that offers the cheapest mortgage rates around!
) [2317] => stdClass Object ( [post_id] => 35281 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>The National Consumer Credit Protection Act 2001 (NCCP Act) governs the entire mortgage broking industry and states that a broker cannot recommend a product that is “unsuitable” for your financial needs and goals. Most brokers will do a great job!
Ultimately, you have to some of your own due diligence to ensure that the broker has your best interests at heart.
Recently, ASIC raised questions about the actions of some brokers, such as recommending an interest only period where it wasn’t really suitable for their client’s financial situation.
In other circumstances, a fixed rate was recommended despite the broker not fully understanding the client’s requirements or objectives.
One of the goals we have at Home Loan Experts is to provide Australians with free information about mortgages, the home loan process and the benefits and drawbacks of different solutions and features.
We want to help you make an informed decision so check out more home loan articles on our website.
Better yet, why not call us on 1300 889 743 or complete our free assessment form and discover why we’ve won ‘Best Customer Service’ for two years in a row in the Better Business Awards.
) [2318] => stdClass Object ( [post_id] => 30134 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
We have a team of credit experts who have years of experience and understand how to present a strong case to get your rural property mortgage approved.
Give us a call on 1300 889 743 or fill in our free online assessment form today.
[wbcr_snippet id="73614"] ) [2319] => stdClass Object ( [post_id] => 84428 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
If you want to know more about how the Federal Budget affects you or you're looking to buy a home, our expert mortgage brokers are here to help.
Now is a great time to explore your options before rates climb higher.
Call us on 1300 889 743 or fill out our free online assessment form and one of our Home Loan Experts will get back to you!
) [2320] => stdClass Object ( [post_id] => 15453 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We believe that informed borrowers will make better decisions when buying an investment property.
If you're thinking about applying for an investment loan, give us a call on 1300 889 743 or complete our free assessment form to speak with one of our experienced mortgage brokers.
We can give you an idea of your borrowing power and the best way to set up your home loan.
) [2321] => stdClass Object ( [post_id] => 22499 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Unlike other mortgage brokers, we understand what the bank’s credit policy guidelines are and we are able to mitigate the risk of the bushfire prone property based on what the credit assessors are looking for.
Want to buy a property that happens to be in a bushfire affected area?
We can present a strong case and find a lender that has a flexible lending policy in relation to bushfire prone properties.
Call us today on 1300 889 743 or fill in our free assessment form and discover why we’re the experts in getting finance for bushfire affected properties.
[wbcr_snippet id="73522"] ) [2322] => stdClass Object ( [post_id] => 25868 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
No doc loans were thrown to the kerb after the GFC because lenders were not willing to take on unnecessary risks.
In addition, the number of low doc loans being written fell from 10% in 2009 to 7% in 2011 and non-conforming loans (bad credit) fell from 2% to nearly zero over the same period. Specialist lenders entered the space to fill this market gap.
Over this time, supply and demand became an increasing problem in the Australian property market, particularly in Sydney and parts of Melbourne.
To avoid a potential market crash, the RBA was continually cutting the official cash rate and the Australian Government began offering grants and schemes to entice first home buyers to buy a new property.
By 2014/15, the RBA began introducing stricter lending policies for investment loans, making it tougher to get approved and eventually required each lender to cap investor lending to no more than 10% per annum of their total loan book.
In a further effort to make property growth more sustainable, the Australian Government began cracking down on foreign investors by increasing the penalties for those who breached foreign investment rules.
In 2015, they proposed a levy or tax for foreign investors wanting to buy residential property, with legislation expected to be introduced in the spring session of Parliament 2015.
The cash rate has remained at a historical low of 2.00% since April 2015 and property prices have continued to increase in most capital cities.
How do I get a home loan today?
If you want to know what you need to do today to qualify for a home loan, please call us on 1300 889 743 or fill in our free assessment form and discover how our award-winning service can help you qualify.
) [2323] => stdClass Object ( [post_id] => 2301 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => hours than required.In general, the overtime that you work may vary from week to week, but it can be somewhat consistent for those who work in healthcare, law enforcement or a variety of other industries.
If working overtime is a condition of your employment then the income from your extra hours is just as regular and stable as your base wage.
If you think that your overtime income is regular and consistent enough to get a home loan approval, call us on 1300 889 743 or fill in our free online assessment form for more information.
[wbcr_snippet id="74670"] ) [2324] => stdClass Object ( [post_id] => 33067 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our freeassessment form.
) [2325] => stdClass Object ( [post_id] => 20530 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Firstly, if you can then choose a lender that can approve your loan! That's what we do as mortgage brokers. There's nothing more rewarding for us than helping good people who just don't fit standard bank policy.
What if that won't work?
Well we can work with you to change your situation so you can get approved in the near future. Often a few simple tweaks will get you an approval in a few months time.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out how we can help you to get approved.
) [2326] => stdClass Object ( [post_id] => 18546 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>You can give our office a call on 1300 889 743 during business hours and we will put you in touch with the next available broker.
) [2327] => stdClass Object ( [post_id] => 36493 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Banks change their appetite for units and apartments on a semi-regular basis as a way of mitigating risk in their loan book.
We know which lenders take a less conservative approach to townhouse loans!
Call on 1300 889 743 or complete our free assessment form to discover if you qualify.
[wbcr_snippet id="73637"] ) [2328] => stdClass Object ( [post_id] => 1618 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Here at Home Loan Experts, our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders!
If you are looking to purchase your first home, finance a construction project or purchase an investment property, please enquire online or call us on 1300 889 743 to discuss your situation with one of our expert mortgage brokers.
) [2329] => stdClass Object ( [post_id] => 67210 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Emotions can become a hindrance when it comes to determining your property investment strategies. We have seen people buying property for reasons like having it close to their home or because they liked the colour. It is normal to become at least somewhat emotionally invested in a property you want to buy; however, purchasing a house is too big a decision to let your emotions hold sway.
Solution
Rely on data rather than emotion. There is plenty of information readily available that can help you make an informed decision about your investment. You can analyse a property by looking at the historical growth in property values in an area or its vacancy rates. Other indicators include local employment opportunities or available public transport. You can get a free suburb report from property websites such as realestate.com.au and domain.com.au. A suburb report will include the area’s median sale price and the value of recent sales, plus demographic profiles.
Once you have narrowed your search down to one property, we can help you order a free upfront valuation before you apply for a home loan. Give us a call on 1300 889 743 or fill in our free assessment form to get your free upfront valuation report.
) [2330] => stdClass Object ( [post_id] => 47807 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>You may pay a slightly higher fee with low doc equipment finance because commercial loans are, by nature, rate for risk.
In saying that, commercial and business loans are unregulated so there is more room to move on price.
Our experienced business brokers can often negotiate a competitive interest rate with a relationship manager but the key is choosing the right lender.
It's best to call us on 1300 889 743 or fill in our online enquiry form to find out if you qualify for low doc equipment finance and what pricing may be available to you.
) [2331] => stdClass Object ( [post_id] => 31730 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We're experts in commercial property loans and know how to find the right lender for your situation.
We do this by assessing your financial situation and your business needs and which lenders best suit your requirements.
We collect this information, package it and present it as a strong application to the right lender.
In doing so, you have a much better chance of getting approved for a car yard commercial loan the first time around and we can even negotiate reduced commercial interest rates and higher Loan to Value Ratios (LVRs) on your behalf.
Complete our free assessment form or call us on 1300 889 743 today.
) [2332] => stdClass Object ( [post_id] => 77249 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Whether you want to buy the right home that accommodates your hybrid work situation or upgrade your home for a bigger one with dedicated office space, Home Loan Experts is here to help. Our experienced mortgage brokers will help you assess your situation and help you get a loan that suits your requirements. Contact us at 1300 889 743 or fill in our free online assessment form today! ) [2333] => stdClass Object ( [post_id] => 45128 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
We've helped many different types of firefighting professionals, including those who specialise in rescue and hazardous materials response, to qualify for a firefighter home loan.
Our mortgage brokers can assist you no matter which state fire authority your work for, whether its:
Please call us on 1300 889 743 or complete our free assessment form and we can let you know if you qualify for a firefighter home loan.
) [2334] => stdClass Object ( [post_id] => 69472 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our Home Loan Experts can help you compare Bank First and other lenders to find the ideal home loan for your situation. Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2335] => stdClass Object ( [post_id] => 28361 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our mortgage brokers are specialists in 85% investment loans. They know how to present a strong case with the right lender so you have a strong chance of getting approved the first time around.
Call us on 1300 889 743 or fill in our free assessment form and find out how our specialist mortgage brokers can help finance your next investment.
) [2336] => stdClass Object ( [post_id] => 13101 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you are ready to take the next step and buy a home or investment property, then give our mortgage brokers a call! We know how to help you to get approved with a major lender at a competitive interest rate.
Please call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will complete an assessment of your situation.
) [2337] => stdClass Object ( [post_id] => 59117 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>While there were some hurdles to overcome to secure pre-approval, the end result was a win-win for both Jim and us!
We are able to get the best match for expats and foreign citizens as our team pride themselves on their credit expertise and getting tough deals through.
Call 1300 889 743 or +61 2 9194 1700 (if you’re calling from outside of Australia) today. Alternatively, complete our free assessment form to get started.
) [2338] => stdClass Object ( [post_id] => 7630 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Paying the fixed sum of interest in advance can be tough on your cashflow!
Lenders require this payment to be made in advance, and if you don’t have the funds then you can’t proceed.
However, we know lenders that will allow you to borrow the interest payable for the next year.
This way, you can free up your funds for other purposes.
To qualify to borrow the interest, most lenders require that you are borrowing no more than 80% of the property value including the interest for the next year.
However, with LMI you can borrow up to 95%.
If you want to gain the tax benefits in the current financial year, speak to us on 1300 889 743 or enquire online.
) [2339] => stdClass Object ( [post_id] => 30516 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Do you know what a backpacker hostel is and what’s involved with running one?
Apart from managing the business, there a few tips and tricks that will help you buy a hostel at a price that works for your overall investment goals.
Location matters
How do you know if a hostel is worth buying?
Like other types of commercial properties, location is key: it will give you the level of business you need to stay profitable with the clientele you want to service.
Metro areas are highly sought after because they have good infrastructure, entertainment outlets, sights and attractions.
Distance to public transport is a definite plus and will have a big impact on the property price.
What about rural properties?
Guest houses and tourist inns located in rural locations can be attractive if you’re after a sea change by running the hostel yourself.
They can even be lucrative if the town is home to some kind of novelty or attraction like an historical site.
The problem is that you’d likely only attract short-term stay guests and be more harshly affected by seasonal dips.
More importantly, the bank may flat out decline your application due to postcode restrictions.
Yes, these restrictions affect commercial properties as well.
Despite of this “case by case” nature of commercial loan, we may still be able to get you approved.
Presenting a solid business plan and showing evidence that you have strong industry experience and strong financials will help your case.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers today.
What is the level of tourism like?
You can get this kind of information from the local council's chamber of commerce.
They can provide you annual tourism and hospitality figures so you can make an informed decision on the area you're looking to buy in.
Generally speaking, the more popular an area, the more restrictions there are and the higher the property price is.
Who are your clients?
Some tourists are simply happy having somewhere to eat, sleep and shower while others are after a hotel-style experience.
Choosing the wrong property in the wrong location simply burns away the investment potential.
Don't forget too that locations can change and become more appealing to the middle class.
Around 30 years ago, investing in simple, flat-style hostel in the Gold Coast would have produced a great return on investment.
These days, tourists and backpackers on the Sunshine Coast want more from their stay than just a guest house.
Having a games area, a bar, decent food and comfortable beds may appeal to perhaps the boutique hotel market which has been growing over the past few years.
Also, consider whether the market you’re targeting are long stay guests or simply passing through, like a bed and breakfast or motel.
These questions and answers come down to understanding the location and the type of business you want to run.
) [2340] => stdClass Object ( [post_id] => 13983 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Our brokers are experts in financing unique properties on islands or only accessible by river.
Call us on 1300 889 743 or enquire online to find out how you can get your home loan approved.
[wbcr_snippet id="73530"] ) [2341] => stdClass Object ( [post_id] => 9904 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If your serviceability is a bit tight, we suggest that you check out our article, Improve my borrowing power and capacity.
Alternatively, if it is your deposit that is holding you back, we suggest you read our article Saving for a home deposit.
In the end, the lenders make the final decision on maximum purchase price. It is best not to commit to purchasing a property until you have pre-approval.
To find out the best plan for you and to get pre-approval, talk to one of our highly experienced mortgage brokers. You can enquire online for free, or call us on 1300 889 743.
) [2342] => stdClass Object ( [post_id] => 36099 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you're in the export, distribution or manufacturing business, your cash flow forecast tends to look worse than most retail businesses.
When exporting overseas, for instance, the products will have to be packaged, checked at local customs, make the trip, checked off at overseas customs and finally reach the client.
There can be a huge delay in receiving payment.
Similarly, in the manufacturing industry, it's rare that a customer will pay more than a deposit for the stock or equipment they order.
There are a lot of costs that are born upfront by the manufacturer that aren't recouped until later.
A property developer, for instance, will have no inflows for two years.
For businesses that contract or sub-contract, such as those involved in building and trade work, the bank will be relying on the contracts that you have in place.
These contracts may pay in installments or it could be months until you get paid subject to the completion of the project.
Showing that you have regular and ongoing contracts is crucial to getting approved.
Businesses involved in direct sales like software businesses have really strong cash flow at the start of the year but there future cash flow forecast won't look as strong.
They've already collected their revenue from their sales so if they haven't made a plan to invest some of that money back into the business, it can be very dangerous.
For example, if they need to hire new staff or software engineers, they may not have the means to pay their salaries since that money would have already been spent.
Luckily, we know lenders that take a common sense approach and recognise that each business has very different cash flow cycles.
Call us on 1300 889 743 or complete our free assessment form and to find out if you qualify for a business loan.
) [2343] => stdClass Object ( [post_id] => 956 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Assets are held "in trust" for beneficiaries who receive income and other benefits from these assets, without actually owning them.
The trustee is the one who manages the trust for the beneficiaries.
For example, if you buy a property in a trust then the title deeds may show, "ABC Pty Ltd As Trustee For The Smith Family Trust".
In some states such as Queensland, only the name of the trustee is shown on title e.g. "ABC Pty Ltd".
Do you want to obtain finance for your trust? Speak to our mortgage brokers on 1300 889 743 or fill in our free assessment form today and we can help you get approval for a loan.
) [2344] => stdClass Object ( [post_id] => 31624 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Do you need a caravan park commercial loan to buy your dream holiday park?
We can help you get approved!
Call us on 1300 889 743 or complete our free assessment form to speak with one of our commercial specialists today!.
) [2345] => stdClass Object ( [post_id] => 31975 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Once available, a P2P home loan will initially target low risk loans. This means that in order to qualify, you’ll likely have to meet the following requirements:
We have mortgage brokers with many years of experience in the credit industry. We can help you get a P2P home loan or find out how else you can secure finance.
You can discuss your personal situation and loan needs with one of our mortgage brokers by calling us on 1300 889 743. You can also complete our free online assessment form and one of us will contact you instead.
) [2346] => stdClass Object ( [post_id] => 22052 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
There are a number of different types of trusts, each with their own terms and conditions. We strongly recommend that you speak to an accountant and seek financial advice before setting up a trust.
Do you need a home loan but aren’t sure how the bank will view distributions from a discretionary account?
We can find a lender that best suits your needs and may even be able to find one that doesn’t need to add back distributions because their serviceability calculator is more lenient to investors.
Speak to us. Our mortgage brokers are specialists in discretionary trusts and know which lenders take a “common sense” approach when assessing your application.
Call 1300 889 743 or complete this form to receive a free assessment.
) [2347] => stdClass Object ( [post_id] => 67027 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you are considering refinancing your home loan or already have decided to do so, our Experts will make the process easier for you.
Home Loan Experts can help you pick the right lender and evaluate your home loan situation for the best possible outcome. Give us a call on 1300 889 743 or fill in our free online enquiry form.
[wbcr_snippet id="71982"] ) [2348] => stdClass Object ( [post_id] => 23639 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Speak with an expert in petrol station loans. We understand commercial finance and which lenders can approve your loan and get you a great deal.
Call 1300 889 743 or complete our free assessment form today.
) [2349] => stdClass Object ( [post_id] => 31309 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>You can qualify for certain interest rate discounts if you meet the required criteria set by lenders.
High income professions such as doctors and mining engineers can qualify for significant discounts and fee waivers.
You can call us on 1300 889 743 or complete our free online assessment form to find out if you qualify for any discounts.
) [2350] => stdClass Object ( [post_id] => 19581 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
It's easy to invest in Australia
Many countries have very restrictive foreign investment laws or banking regulations that make it difficult to invest.
This isn’t the case in Australia:
Buying property in Australia from countries like China, the UK or USA can be difficult if you don’t have the right information or you don’t have the right professionals on your team.
These professionals include real estate agents or buyers agents, a solicitor, an accountant and a mortgage broker that specialises in foreigner mortgages.
Complete our free assessment form or call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) and one of our mortgage brokers will contact you to let you know if you qualify for a mortgage.
Non-resident lending has changed quite a lot in recent times and it's now harder for a foreign citizen as opposed to an Australian expat or a temporary resident living in Australia.
Australia is a great place to live
Australia is well known for its diverse international cities and breathtaking natural beauty.
Over the next 50 years, it’s expected that the trend of migration to Australia will continue and property prices will rise as a result.
) [2351] => stdClass Object ( [post_id] => 29638 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Most Australian banks prefer borrowers to have at least 5% genuine savings.
Typically, genuine savings refers to a deposit you've saved in a bank account for 3 to 6 months but there's a way around this if you're currently renting in Hong Kong.
Some lenders can accept your rental history as evidence of genuine savings, so it's a good idea to provide your rental statements along with your current debts.
In most cases, the rent that you're paying as well as your repayment history on your other debts shows that you can meet your mortgage repayments.
Call 1300 889 743 (+61 2 9194 1700 if you're overseas) and speak with one of our specialist mortgage brokers or fill in our free assessment form for more information.
) [2352] => stdClass Object ( [post_id] => 30720 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
No, Australians living in Thailand don't need to pay a higher interest rate, provided that you can provide sufficient evidence to prove your income.
Usually, you can qualify for the same interest rates as an Australian back home. However, some lenders may not provide the same interest rate discounts to you.
Luckily, we may be able to help you negotiate a significant interest rate discount below the Bank Standard Variable Rate (BSVR).
Speak with one of our brokers on 1300 889 743 (+61 2 9194 1700 if you're overseas) or fill in our free online assessment form and find out what kind of deal we can negotiate for you depending on your situation.
) [2353] => stdClass Object ( [post_id] => 30871 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
You can call us on 1300 889 743 (+61 2 9194 1700 if you’re overseas) to discuss your situation and loan needs with one of our mortgage brokers. You can also complete our free online assessment form, and one of us will contact you instead.
) [2354] => stdClass Object ( [post_id] => 59437 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>As mortgage brokers, when assessing home loans, we prioritise the cost of a product such as interest rate, fees and charges and repayment size.
We also consider any non-cost considerations such as a quicker settlement, specific loan features, and whether or not they provide you with good value relative to other options.
With 50 plus lenders on our panel, we can usually find you a loan that best meets your objective and requirements.
Speak with one of our award-winning specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form.
[wbcr_snippet id="73079"] ) [2355] => stdClass Object ( [post_id] => 92814 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you're ready to take the next step, our expert mortgage brokers at Home Loan Experts are here to guide you through your options and help you secure pre-approval.
With the support of experienced and compassionate professionals, you’ll feel confident and prepared to make a strong, competitive offer in today’s fast-paced market. Call us on 1300 889 743 or enquire online for free.
) [2356] => stdClass Object ( [post_id] => 44366 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => ) [2357] => stdClass Object ( [post_id] => 64034 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Buying a house is a major milestone and it can be very confusing without a guide.
Our mortgage brokers can quickly assess your situation and work out the right home loan option for you.
To speak with one of our mortgage brokers, call 1300 889 743 or complete our free no-obligation assessment form.
) [2358] => stdClass Object ( [post_id] => 51120 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>How much can you borrow?
Borrowing to build a Specialist Disability Housing is generally limited between 60% to 80% as this is a niche segment that is still growing.
Furthermore, you might be able to borrow more if you plan to invest in a property that requires more improvements according to the SDA Design Category.
You can borrow up to:
Call us on 1300 889 743 or fill in our free assessment form to talk to our brokers regarding NDIS property investment loan.
Why should I invest in SDA?
Before NDIS was implemented, the funding for housing people with disabilities mostly came from governments or non-profit providers using upfront capital grants.
Now, there is a growing appetite among investors for impact investing and Australian banks have become lenient and started to lend to finance SDA projects.
Banks are providing the following:
Out of the 400,000 participants in the NDIS, an estimated 28,000 of them qualify for SDA. 12,000 of them are most in need of suitable accommodation.
Out of the 12,000, half are living in aged care facilities, while the other half are living in unsuitable situations (inappropriate design, living with aging parents, etc).
The SDA scheme is designed to address the massive undersupply.
Demand is not the problem here, and if you can build the right home for the participants, then your property will not face the problem of vacancy.
Furthermore, the government wants to motivate private investment of $5 billion to encourage the build of brand-new residential properties built for inclusion in the scheme.
The government has committed $700 million per annum in the SDA scheme funding from the overall NDIS budget of $20 billion per annum.
Your investment home not only provides rental income, it provides the perfect home for Australians with disability out of inappropriate aged care and place them in suitable housing.
Who is eligible for NDIS?
To be eligible for NDIS, a person must:
Discover if you qualify for a meals and entertainment allowance mortgage by speaking with one of specialist mortgage brokers on 1300 889 743.
Alternatively, you complete our easy free assessment form and we can get back to you with some home loan options.
We're experts in helping Australians that have unusual employment or earn extra income that is not accepted by most banks.
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A mortgage broker can help you get your home loan approved by calculating your borrowing capacity. If you already have a home loan, our brokers will assist you with refinancing to a lender that offers lower interest rates by comparing lenders and finding the best deal for you.
We're here to help. To speak with a mortgage broker right away, call us at 1300 889 743 or submit a free online enquiry.
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For a free no-obligation assessment from one of the best home loan brokers in Canberra, give us a call on 1300 889 743 or fill in our online assessment form.
) [2364] => stdClass Object ( [post_id] => 29848 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Yes! If Santa married an Australian citizen he could borrow up to 90% or even 95% of the property value!
Not sure it would be worth having to explain that to Mrs. Claus, though!
The Spirit of Too Much Giving? (Watch Your Expenses)
If Santa is getting paid by billions of parents around the world, it makes you wonder why he needs a home loan in the first place.
Then again, his labour costs must be astronomically high, with all those elves putting in shifts around the clock at crunch time, and food, shelter and upkeep for reindeer isn’t cheap either (the seeds for those magic corn kernels alone must cost a fortune). He might need to review his expenses. But before doing that, Santa could simplify his financial management with our 360° Home Loan Assessor.
As with a mortgage application for you and me, banks will look at Santa’s ingoings and outgoings carefully. If his expenses are high, compared with his income, then banks may question whether he can afford a home loan.
Of course, as a business owner, Santa may claim expenses – such as the cost of upkeep for his magical sleigh or elves’ uniforms – as deductions to reduce his taxable inc…Wait a minute! If Santa is a citizen of the world but not of any one country, does he pay taxes everywhere or nowhere? If it’s the former, it might explain why he needs a loan.
Anyway, perplexing questions like this aside, there are lenders who can add back these expenses to Santa's assessable income so he can potentially borrow at a higher Loan-to Value-Ratio (LVR).
How Does Your Situation Compare With Santa’s? (Can You Get Approval?)
If you're in a situation that's a little outside-of-the-box, such as being self employed with little to no income evidence, over 50 or a non-resident, it can be really tough to get a home loan.
However, a specialist mortgage broker who has a thorough understanding of credit policies from a number of Australian lenders can always improve your chances of getting approval.
That's because they understand getting approved comes down to building a good case with the right lender.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our experienced mortgage brokers.
We can help you own your own home in 2023! Have a Merry Christmas!
) [2365] => stdClass Object ( [post_id] => 41955 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Call us on 1300 889 743 or fill in our free assessment form and we can help you qualify!
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Our team will be available and working overtime if required. They are working from home for their safety.
Email your Home Loan Experts mortgage broker, call us at 1300 889 743 or fill in our free assessment form.
) [2367] => stdClass Object ( [post_id] => 27034 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>When you just change jobs, even if you’re an IT contractor, you’re employed on a probation period. Most banks may not consider you eligible to apply for a home loan until the probation period has ended.
Luckily, not all banks have the same policy. If you’re employed on a contract basis, having at least two years of experience in the same line of work means you can qualify for a loan with some lenders.
We may be able to get you approved for an IT consultant home loan even if you’ve only been working in your role for a day!
Give us a call on 1300 889 743 or fill in our free assessment form to see if you qualify for an IT consultant home loan.
) [2368] => stdClass Object ( [post_id] => 34387 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Not sure which home loan is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [2369] => stdClass Object ( [post_id] => 4145 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Whether you’re a first-time homebuyer, an investor, or just seeking to refinance, Home Loan Experts can help you.
With access to more than 50 of Australia’s major banks and top lenders, we help borrowers secure the best mortgage rates that are available to them.
We compare hundreds of loan products to find the one that best matches your situation and needs.
To find out exactly how much you can borrow based on your YTD income, please call us on 1300 889 743 or fill in our free assessment form, and one of our mortgage brokers will call you to discuss your situation.
) [2370] => stdClass Object ( [post_id] => 2435 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Here's how different scenarios might affect your borrowing capacity.
For a clear understanding of how these conditions might affect your monthly payments, we encourage you to explore your options further using our loan repayment calculator.
If you have any questions, feel free to call us on 1300 889 743 or complete our free online assessment form.
) [2371] => stdClass Object ( [post_id] => 8503 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
If you are on a business visa in Australia and have started an Australian branch of a foreign business, we can use the income of the overseas parent company if this is owned in part or in full by the applicant.
If the company or franchise is part owned then the lender will assess the loan applicant's share of the profits as their income.
Income from the Australian branch of the parent company may not be considered if the local branch has only opened recently, as there will be no income evidence available. Because of the perceived risk by lenders, the maximum loan is 80% of the property value.
If you are on a business visa and have started a branch of a foreign business in Australia, call us on 1300 889 743 or enquire online to find out which specific requirements apply!
) [2372] => stdClass Object ( [post_id] => 29056 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Speak with one of our mortgage brokers by calling 1300 889 743 (+61 2 9194 1700 from outside of Australia) or by completing our free assessment form today to find out if you qualify for an expat home loan.
) [2373] => stdClass Object ( [post_id] => 1620 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Here at the Home Loan Experts, our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders when assessing your income. Please enquire online or call us at 1300 889 743 to discuss your situation with a mortgage broker.
[wbcr_snippet id="74668"] ) [2374] => stdClass Object ( [post_id] => 94448 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>It's better to obtain a home loan while you're pregnant and still working rather than while on leave.
We can offer you loans from a wider selection of lenders so you're more likely to get a better deal.
It's critical that you plan your finances well in advance of the birth so that you don't get caught out later on if you need more funds than you anticipated.
Avoid unnecessary stress by completing our free assessment form and speaking to one of our specialist mortgage brokers on 1300 889 743.
) [2375] => stdClass Object ( [post_id] => 1485 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Generally, the maximum period of leave that lenders can consider is 12 months. However, they view smaller periods such as 6 months or 18 weeks more favourably.
We have a lender on our panel who can consider your application if you’re returning to work within 2 years of parental leave.
If you're clearly going to struggle to afford the loan while on leave, the bank won't approve your application. All lenders we deal with practice responsible lending.
To discuss your situation with an expert mortgage broker, contact us on 1300 889 743 or fill in our free assessment form today. We can help you get approved, even if you're going on maternity leave.
) [2376] => stdClass Object ( [post_id] => 41582 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Can LMI be waived?
Yes, there are certain lenders who provide LMI waiver for professionals as they are viewed as lower risk borrowers:
Some lenders offer LMI waiver even if you’re not in these professions. They arrange offers to attract home buyers by waiving LMI even when you’re borrowing over 80% of the property value.
If you want to know if you qualify for these waived LMI offers, call us on 1300 889 743 or enquire online.
How much deposit do I need to avoid LMI?
You will usually need to pay Lenders Mortgage Insurance if you’re borrowing more than 80% of the property value.
To avoid LMI, you will need a deposit of at least 20%.
However, it is difficult to save a larger deposit, especially in a property market where property prices are rising.
You can use our ‘Buy Now or Save More’ calculator to see which option is feasible for you.
There is an option to capitalise LMI where the lender will add the cost of the LMI premium to your home loan, allowing you to get approved for a home loan with a lower deposit.
How to avoid LMI when refinancing?
When you’re refinancing and your LVR is above 80%, then you might have to pay LMI again i.e. if you have less than 20% equity in your property, then you might have to pay LMI.
To avoid this, try to pay down as much of your loan as possible so your LVR is 80% and below.
If you’re refinancing to add a partner, then you might be able to avoid paying LMI if your partner can share the cost.
) [2377] => stdClass Object ( [post_id] => 38991 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Interest Coverage Ratio is the most common method used in commercial lending because it makes the most sense from a tax perspective.
Net Surplus Ratio (NSR) factors in living expenses and tax so it's a little more comprehensive than ICR when calculating the affordability of the loan to your financial situation.
This method is used in residential lending rather than commercial.
Debt-Service Coverage Ratio (DSCR) is an outdated method compared to ICR, taking a more conservative approach when calculating your income.
Although it depends on the lender, DSCR assumes that 30%-50% of your income can be used to pay debts while 30% approximately is allocated to pay tax.
It's not useful where loans are tax deductible and is more often used for residential loans.
It shouldn't actually be used for residential investment loans either but some lenders still rely on it.
We can help find you a lender that takes a more common sense approach to your Net Operating Income (NOI).
In that way you can borrow more for your commercial property loan or for any business finance you were after including invoice discounting or trade finance.
Need a loan? Complete our online enquiry form or speak with one of our brokers by calling 1300 889 743.
) [2378] => stdClass Object ( [post_id] => 55783 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Home Loan Experts can show you the government schemes for which you’re eligible and help you apply. Please speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our short assessment form to buy your first home. Find out the best path to your new home today! ) [2379] => stdClass Object ( [post_id] => 94863 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => When others said no, we found a way for Liam and Kate – and we can do the same for you. Whether you have credit challenges, complex finances, or unique circumstances, our experienced team is here to guide you. Call us today at 1300 889 743 or complete our free online assessment form. Your path to owning a home starts here, with a team that never gives up. ) [2380] => stdClass Object ( [post_id] => 74606 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Our mortgage brokers will work with you to help you avoid mortgage stress. If you’re already under mortgage stress, we can work through various strategies to help you avoid a default on your home loan. Call us on 1300 889 743 or enquire for free online today.
) [2381] => stdClass Object ( [post_id] => 72825 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>If you are an existing client looking to restructure your mortgage before moving abroad, you may directly contact our mortgage broker with whom you worked previously, or call us at 1300 889 743, so our post-settlement staff can assist you with your requirements. If you are someone looking to enquire about refinancing through us, call us on 1300 889 743 or enquire online, and we can discuss your situation with you.
) [2382] => stdClass Object ( [post_id] => 35159 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We're experts in helping borrowers who make concessional super contributions to increase their borrowing power.
Call us on 1300 889 743 or complete our free assessment form to find out how we can help you get approved for a home loan.
) [2383] => stdClass Object ( [post_id] => 348 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Australian lenders need to have documents evidencing the income that you have put on the application form.
They meet this requirement by asking for:
If you feel that you may not have sufficient documentation to apply for a loan, please call us on 1300 889 743 or complete our free assessment form today. Our mortgage brokers will assist you in getting approval.
) [2384] => stdClass Object ( [post_id] => 1340 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Enquire online or call us on 1300 889 743 to talk to a specialist mortgage broker who knows how to get you a competitive low doc loan without the need to show your BAS statements.
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Do you need help getting your genuine savings accepted? Our mortgage brokers are experts in assessing your savings. They can quickly work out which lenders can accept your loan. Please call us on 1300 889 743 or enquire for free online for more information.
You can find more information on our genuine savings page.
) [2386] => stdClass Object ( [post_id] => 3405 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We can help you get an equity-release home loan with the lender of your choice in the fastest turnaround time possible.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers can assist you in accessing your equity.
) [2387] => stdClass Object ( [post_id] => 54627 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>The customer, with the help of Jonathan, Sohel and Ajar (broker team), was able to settle the refinance of his property.
He was extremely grateful for the immense help and support. The broker team stood by him throughout the entire process and solved all the complicated issues regarding the refinance.
If you have a similar or even more complicated issue like this, we may be able to help you find the right solution.
Please feel free to talk to one of our senior brokers by calling 1300 889 743 or by filling in our free online-assessment form today.
) [2388] => stdClass Object ( [post_id] => 54939 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
To find out, speak with one of our specialist mortgage brokers who are up to date on all current offers from our panel of lenders.
Call us on 1300 889 743 or fill in our online assessment form.
) [2389] => stdClass Object ( [post_id] => 4589 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We can find out which lenders can approve your loan.
Speak to one of our expert mortgage brokers by calling 1300 889 743 or enquire online today.
) [2390] => stdClass Object ( [post_id] => 65669 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Home Loan Experts’ mortgage brokers can negotiate the best interest rates on your behalf so that you pay less interest right from the start. If you’d like us to calculate the interest you’ll pay for different situations and rates, call us on 1300 889 743 or fill in our free assessment form.
) [2391] => stdClass Object ( [post_id] => 20781 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our mortgage brokers are experts in helping first home buyers to get into the property market. We can work out which banks can consider your situation and present your application in a way that it ensures it gets approved.
We can compare the cost of renting to the cost of owning a home for you or you can use this rent vs buy calculator instead.
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to see what options are available.
) [2392] => stdClass Object ( [post_id] => 72009 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Waiting too long to cherry-pick the right time to buy might lead to higher interest rates or stricter assessments from lenders. Be ready to grab the opportunity and find your dream home.
You’re not in this alone. Home Loan Experts’ mortgage brokers will be with you to guide you, whether you need help looking for a property or understanding the home loan process. We’ve helped thousands of people like you find their first home. Call us on 1300 889 743 or enquire online today.
) [2393] => stdClass Object ( [post_id] => 77559 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Hemmings also emphasised that as interest rates have been moving every month, customers are finding it difficult to say on top of their actual rate and how it compares in the market.
“The best option now would be to speak to a mortgage broker,” he says. “The market share for mortgage brokers has increased because they know what is happening with the interest rates and understand which lenders offer incentives like refinance rebates and where a borrower may be best placed to maximise their borrowing potential. All lenders will now calculate affordability using an interest rate of over 8% (5%-plus advertised interest rate, plus the 3-point buffer regulators require) so understanding this will be important.
Home Loan Experts’ brokers can guide you through the right steps to prepare you for a rise in interest rates, whether through refinancing or simply managing your home loan more effectively. Call us on 1300 889 743 or complete our free online assessment form today.
) [2394] => stdClass Object ( [post_id] => 73785 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Alan further commented, “On the property market, as prices continue to decrease, we are seeing fewer properties coming on for sale, and those on the market are taking longer to sell.”
“For buyers, this may present an opportunity as sellers get a better understanding of the value of their property and lower their expectations. Anyone looking to buy should be aware of their borrowing capacity, as constantly rising interest rates reduce customers’ buying power. Speaking to a broker is important so customers do not offer more than they can borrow.”
Our mortgage brokers can help you navigate the rate rise. Call us on 1300 889 743 or enquire for free online today.
) [2395] => stdClass Object ( [post_id] => 48323 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>You can apply directly with a participating lender or take the help of a Home Loan Experts’ mortgage broker to help you.
Note: Housing Australia will not accept direct applications.
Here's how you can move forward:
As accredited mortgage brokers, Home Loan Experts can help you reserve your place, subject to availability. To apply and reserve a slot in the First Home Guarantee, please give us a call at 1300 889 743 or fill in our free online assessment form today.
What If The First-Home Buyers Scheme Places Are Exhausted?
If scheme places have been exhausted, but you’re eligible, you can still submit a reservation request, and you’ll be added to the waitlist.
When and if a Scheme place becomes available, you will be advised.
) [2396] => stdClass Object ( [post_id] => 3694 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>It helps to get advice from a mortgage broker that specialises in hobby farms before deciding to apply for a home loan.
They can help build a case that addresses the bank's requirements on land size, location and how much income may be generated from the operation.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers who specialises in hobby farms can help you to apply for a home loan.
What should I look out for in a hobby farm?
Check that the land is suitable for what you're planning to use it for
This can include fertile soil for growing produce and, for the purposes of caring for animals, fields for grazing and clear access to water sources, such as ponds and lakes.
If you're buying vacant land then check with council to confirm that you are allowed to build a dwelling on the property.
Check with council regarding zoning and infrastructure projects
Zoning changes all of the time and planned or ongoing infrastructure or commercial projects can have a major affect on your ability to run a hobby farm. For example, a new motorway can affect the peace and quiet that you were after in the first place, while, from a practical perspective, a new mining or gas project can have a massive effect on the health of the surrounding environment and your ability to grow produce.
In terms of actually getting approved for a hobby farm loan, did you know that there are lending restrictions on bushfire prone properties, many of which are located in the same rural areas as lifestyle farms?
Check that you're getting what you pay for
Sometimes the farm will come with everything you need including built-in stables or houses for animals, troughs, feeding dispensers and fences. That’s great but it also means you have to ensure that you're getting what you pay for, that is, making sure all of the amenities are in good condition and to code.
Legal requirements
Be aware of local council restrictions as well as state and federal laws and licensing requirements regarding the use of land and owning farm stock.
For more resources and tips on lifestyle farms, go to farmstyle.com.au.
What do the banks assess?
Hobby farms can be assessed in several ways by our banks, depending on the location and the size of the property.
Land size: There is technically no maximum land size. However, to qualify with most banks the land must be less than 10ha. Some banks can consider up to 50ha and one can consider any size land as long as the property is not being used for business or income-producing purposes.
Banks are likely to be very conservative with properties over 200 hectares.
Location: Each lender has their own postcode restrictions. At least two of our lenders have no postcode restrictions at all, although, remote properties will always be difficult to finance.
Access: The land must have easy access using an all-weather road. Dirt roads are fine as long as they are well maintained.
Services: The land must be within range to be connected to the electricity grid without excessive costs or have solar power. Town water and sewerage services aren't required as many Australian properties have tank water or septic tanks instead. Fully-serviced and partially-serviced blocks are both acceptable.
Zoning: Land can be zoned rural, rural residential or the equivalent for your state. Be careful with land that is zoned industrial, commercial or for farm use as they are generally not accepted or may be considered as a commercial farm unless it's clear they can't be used as a home. A good rule of thumb is that if the land you are buying is subject to GST then it would be considered as a commercial property by the banks.
Land use: The land can only be used for personal or investment purposes, not as a commercial farm. Hobby farms with minor farm improvements and that don't produce income from farm production are usually accepted.
Why are the banks so conservative?
During times of drought or during economic downturns, farms tends to fall in value and take longer to sell. This is particularly true in country areas and remote locations where land prices fluctuate more often.
Normal houses on the other hand have more potential buyers and so tend to sell much faster.
Because of this higher volatility, banks tend to be more conservative when approving a home loan for hobby farms.
In addition to this, banks consider commercial farms to be businesses, not a lifestyle purchase so they can only be considered for more expensive commercial loans and business loans.
[wbcr_snippet id="73312"] ) [2397] => stdClass Object ( [post_id] => 49365 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>A property valuation is an important element of your loan application, and getting the best valuation on your property will secure you a better deal on your home loan.
Usually, we can order most types of property valuation at no cost to you!
Please give us a call on 1300 889 743 or complete our short free assessment form to get the best valuation.
) [2398] => stdClass Object ( [post_id] => 73947 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => A pre-approval loan can give you the confidence to make a stronger bid. Our expert brokers are here to help you find the right loan to strengthen your offer. Call us at 1300 889 743 or fill in our free online assessment form. ) [2399] => stdClass Object ( [post_id] => 34934 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>To be clear, you still need a deposit; however, if you have a solid rental history, some lenders will take this as proof that you have the ability to make regular payments, just like making regular deposits into a bank account.
What If I’m Renting Privately?
Almost all lenders require you to have been renting via a licensed real-estate agent but there is an exception to this requirement.
If you've been renting for more than six months, have a formal, legally binding tenancy agreement in place and can prove your rental payments with bank statements, we can help you get approved.
Call us on 1300 889 743 or fill in our free online assessment form today.
What If I’m Renting With Other Tenants?
The lease should be in your name alone or both you and your partner. You may still qualify if you are renting with other people, as long as you can prove a track record of prompt rental payments with your bank account statements and your name is listed on the tenancy agreement.
) [2400] => stdClass Object ( [post_id] => 2890 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>In most cases, you'll pay a higher interest rate for your loan.
However, we've made an agreement with some of our lenders to obtain normal home loan interest rates for customers who are now in a good financial position.
Discounted rates may be available if:
We recommend that you don’t approach the major banks for a loan as they won’t approve your application while the bankruptcy listing is still on your credit file.
We can't guarantee that we can get you normal bank interest rates. Every application is assessed on its merits. Please call us on 1300 889 743 or fill in our online enquiry form to discuss your situation.
) [2401] => stdClass Object ( [post_id] => 59430 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Refinancing as a non-resident can be tough as only a handful of lenders deal in this space.
Note that some lenders will need more documents and time to process your application.
Give us a call on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to check with one of our specialist mortgage brokers.
) [2402] => stdClass Object ( [post_id] => 98030 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
When you just change jobs, even if you’re an IT contractor, you’re employed on a probation period. Most banks may not consider you eligible to apply for a home loan until the probation period has ended.
Luckily, not all banks have the same policy. If you’re employed on a contract basis, having at least two years of experience in the same line of work means you can qualify for a loan with some lenders.
We may be able to get you approved for an IT consultant home loan even if you’ve only been working in your role for a day!
Give us a call on 1300 889 743 or fill in our free assessment form to see if you qualify for an IT consultant home loan.
) [2403] => stdClass Object ( [post_id] => 98086 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
Our mortgage brokers will work with you to help you avoid mortgage stress. If you’re already under mortgage stress, we can work through various strategies to help you avoid a default on your home loan. Call us on 1300 889 743 or enquire for free online today.
) [2404] => stdClass Object ( [post_id] => 98105 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] => Once you’ve done all your research, online and off, and zeroed in on your dream home, make sure you do not lose the chance to purchase it. Speak to our mortgage brokers at Home Loan Experts by filling out this free enquiry form or calling us on 1300 889 743. Our experts will help you secure a mortgage or a pre-approval from the most suitable lenders at the best rates for your circumstances. [wbcr_snippet id="73275"] ) [2405] => stdClass Object ( [post_id] => 98111 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Are you thinking of buying a home with your partner or friend? Think twice about the property ownership structure. While you might be able to buy a higher-priced property, you have to choose a structure that is right for your goals and financial circumstances. Our mortgage brokers are here to help. Call us on 1300 889 743 or enquire online.
) [2406] => stdClass Object ( [post_id] => 98119 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Need A Property Valuation?
Getting a property valuation is an important part of your home loan application process. At Home Loan Experts, we can order most types of property valuations for free. Call us on 1300 889 743 or complete our free online assessment form to get the best valuation. ) [2407] => stdClass Object ( [post_id] => 98124 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>With everything there is to consider, having an expert mortgage specialist by your side helps heaps.
Home Loan Experts can help you pick the right loan option and evaluate your home loan situation for the best possible outcome. Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2408] => stdClass Object ( [post_id] => 98135 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>A property valuation is an important element of your loan application, and getting the best valuation on your property will secure you a better deal on your home loan.
Usually, we can order most types of property valuation at no cost to you!
Please give us a call on 1300 889 743 or complete our short free assessment form to get the best valuation.
) [2409] => stdClass Object ( [post_id] => 98141 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>There is always a balancing act between paying down your mortgage fast and maximising your equity, and quickly acting to advantage of investment opportunities.
Call us on 1300 889 743 or fill in our online enquiry form today.
Our mortgage brokers cannot provide you with specific financial advice but we can assess your current situation and guide you toward making a decision that is right for you.
) [2410] => stdClass Object ( [post_id] => 98147 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Don’t risk it! Speak to a mortgage broker
Really need the FHOG and considering cheating the system? Don’t do it!
Even if you’re not sure you’re filling out the application correctly, it’s best to speak with a mortgage broker first.
Getting approved for the FHOG is not the only way to solve a shortfall in funds to complete.
A gift from your parents or a guarantor loan are great options for buying a home with no deposit.
A guarantor home loan has the added bonus of allowing you to borrow up to 105% of the property value, including the cost of Lenders Mortgage Insurance (LMI), stamp duty, legal fees and other property buying costs.
We’re experts in helping first home buyers so please call us on 1300 889 743 or fill our free assessment form today.
We will assist you to complete the FHOG form and tell you which supporting documents you may need to provide.
) [2411] => stdClass Object ( [post_id] => 98156 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Assessment rates or floor rates aren't known to the general public so it can be very easy for applicants to fail the bank's serviceability test.
That's because banks don't advertise them!
For example, a single borrower with an annual before tax income of $90,000 (and no debt for simplicity) can borrow up to $534,612 when assessed at 7.25% (P&I 30 year loan term). However, the same borrower when assessed at 5.05% can now borrow up to $653,100 - a boost in borrowing power of $118,488.
For some borrowers, this represents them getting approved for a home loan over being knocked back.
By speaking with a specialist mortgage broker, we can help you choose a lender that will allow you to borrow the amount you need.
Please call us on 1300 889 743 or complete our free online assessment form today.
) [2412] => stdClass Object ( [post_id] => 98170 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>
What the banks are looking for is that all parties to the loan get a benefit.
Legally, all borrowers are required to benefit from the loan.
However, it isn’t legally required that all people offering security (mortgagors) are getting a benefit from the loan.
Funnily enough, they can also be a borrower if they are getting a benefit from the loan. If they aren’t, then they are known as a guarantor.
So if it isn’t required for the property owner to receive a benefit, why do the banks care?
Well, if the person using the money and making the repayments isn’t the person who has their property at risk then all sorts of trouble can happen.
Imagine you helped a friend or extended family member borrow money against your property and then you had a falling out.
They may decide to stop making repayments just to spite you!
As you can see, there’s the potential for a lot of trouble here.
Call us on 1300 889 743 or fill in our free online assessment form and our specialist mortgage brokers will help you to get approved.
) [2413] => stdClass Object ( [post_id] => 98183 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Losing your job, incurring illness or injury, or going through a divorce can be emotionally devastating for you and your family and it only compounds matters when you then struggle to make your mortgage repayments on time.
If you are experiencing financial difficulty, talk to your bank.
Explain your situation and they may be willing to work with you and give you a short-term repayment holiday so you can get back on track.
Most of the major banks have a hardship programs in which they can assist you by temporarily charging interest only on your loan.
Other options include:
If you’re an existing client, one of our mortgage brokers can help to find you a solution.
Call us on 1300 889 743 or enquire online today!
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Choosing the right bank for each product
If you have a range of home, business and investment requirement that need to be taken care of then it is rare that this can all be provided by just one bank.
In most cases, you may be better off dealing with a range of banks as one may be the right choice for your commercial loans while another is better for your equipment finance or home loan.
Lending Policy
Each bank has its own lending policies and its own view of which loans, properties and business activities are high or low risk. As a result of this we often find it beneficial to match different commercial properties or investments with loans from different banks, depending on the needs of our clients.
While there is some room for banks to negotiate their lending policies with you, in most cases it makes more sense to go with a bank that can give you exactly what you need.
Risk Management
There is a big risk in tying up all of your properties and business in one bank.
If you ever experience financial hardship then they have complete control over your situation. It is wise to consider separating your business and personal debts to reduce this risk. In many cases it is also wise not to cross-securitise your investment properties with your home.
It is common for a bank to carry out an annual review of your commercial loans, decide that they are no longer happy with their security position and then to give you 30 days to pay down your debt. If your home is security for a loan with that bank then your home is at risk!
Residential property is much easier for a bank to sell rather than a commercial property or a business. If your home is used as security for a commercial debt then the loan is not regulated under the NCCP Act and the bank can bypass many of the government laws regarding hardship provisions.
Existing Customer Pricing
Most businesses give their loyal customers the best discounts. This is certainly not the case in the banking industry!
Once you have more than four products (e.g. a cheque account, home loan, commercial loan and a credit card) with one bank then that bank knows that you are very unlikely to leave. It's simply too much trouble to switch everything over. This is particularly true if the bank also provides you with wealth management, financial advice and international services.
Our high-net-worth client package involves strategies to make sure that you continue to receive the discounts that the banks are offering their new clients, without the need to refinance your loans to another bank.
Please call us on 1300 889 743 or enquire for free online and one of our mortgage brokers will call you to discuss your needs.
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While the banks may give staff discounts on their products, brokers can offer deals from all the lenders they work with. This gives them a greater range of products to choose from, and therefore a better chance of not only finding great deals, but also the most suitable product for your needs.
Some mortgage broking companies also have special partnerships with lenders.
In some cases, they will be able to offer their clients better deals from those lenders than would otherwise be available.
In a few cases, we’ve been able to get bank staff better deals from their employer than they could get on their own.
To find out more enquire online, or call us on 1300 889 743.
) [2416] => stdClass Object ( [post_id] => 98194 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>Our Disqus comments section has been specifically set up to allow people who need advice about their situation, but may not yet ready to apply for a loan. Feel free to join up and ask us any questions you have about your home loan, while you prepare to lodge an application for pre-approval..
When you are ready to buy a home, please call us on 1300 889 743 or enquire online and one of our mortgage brokers will help you find a mortgage package that suits your needs. Speak to us today!.
) [2417] => stdClass Object ( [post_id] => 98201 [meta_key] => add_site_layouts_6_post_editor_option [meta_value] =>We’re here to make co-ordinating your purchase and sale simple. Our experienced mortgage brokers will:
Call us today at 1300 889 743 or fill out our free online assessment form, and we’ll get in touch to help you achieve a smooth, stress-free settlement.
) [2418] => stdClass Object ( [post_id] => 44480 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Thinking about investing?
We’ll carefully assess your situation and what you’re looking to achieve. In that way, you can maximise your cash flow and reduce your interest bill. If you’re looking to borrow a little more for investment purposes, call us on 1300 889 743 or complete our online enquiry form.) [2419] => stdClass Object ( [post_id] => 28205 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Lenders hold the view that sole traders represent a higher risk because their income is not as stable as a PAYG applicant. This is because banks have seen higher levels of defaults over the years from business owners like sole traders. To protect themselves from defaults, banks are essentially a lot tougher in their assessment and will do things like charge a higher interest and/or restrict the amount you can borrow. Fortunately, we know that there are literally hundreds of thousands of sole traders in Australia that have been trading profitably for years and we know which lenders readily accept sole trader home loan applications. Give us a call on 1300 889 743 or fill in our free assessment form and we can help you find a suitable lender. ) [2420] => stdClass Object ( [post_id] => 30233 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Investment loans are considered riskier than standard home loans.
As such, the approval criteria for investment loans is relatively more complicated, especially if the lender needs to consider negative gearing benefits to approve your serviceability (if you can afford the loan).
As a general rule, you need to be in a strong financial position to qualify.
Getting approved for an investment loan
You may be eligible to apply for an investment loan, provided that:
If you want to know if you qualify for a home loan before you decide to use cash or mortgage, then speak with our brokers on 1300 889 743 or complete our free online assessment form.
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Adding your partner to your property title can be complicated especially if you have a unique personal situation or home loan feature.
However, our mortgage brokers can help make this into a relatively straight-forward process and help you switch lenders.
Call 1300 889 743 or enquire online to speak with one of our mortgage brokers today!
) [2422] => stdClass Object ( [post_id] => 3679 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Our mortgage brokers are specialists in helping people to buy an investment property in a seniors living / over 55’s housing development.If you’re having trouble financing your investment then please complete our free assessment form or call us on 1300 889 743 and one of our brokers will call you to discuss your options.
) [2423] => stdClass Object ( [post_id] => 1055 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If you're a contractor, we have a template below that you can use.
However, if you're purely a sole trader, in a partnership or operate via company and are unable to prove your income through traditional means, there are other options.
You may be able to provide older tax returns, Business Activity Statements (BAS) or an accountants letter by way of a low doc loan.
If you're in this situation, please call us on 1300 889 743 or fill in our online enquiry form and we'll let you know how we can help you qualify
) [2424] => stdClass Object ( [post_id] => 1075 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
If a Home Loan Experts mortgage broker is arranging your home loan, please email your signed letter through to them.
Which lenders will accept a gifted deposit? Call us on 1300 889 743 or complete our free assessment form.
) [2425] => stdClass Object ( [post_id] => 10270 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Once the above-mentioned expenses and buffer are deducted from your gross monthly income then you are left with either a surplus or a shortfall. Is having a surplus enough to get your loan approved? Not by itself. Lenders complete a full assessment, which takes into account more than your income. Your credit history, LVR, credit score, genuine savings and employment will all be considered in the lenders’ final decision. If you are a high-risk borrower, most lenders will not allow you to borrow to your limit. In other words, they want to see more than the minimum surplus. To find out more about lenders’ assessment criteria and to see whether you are eligible for a loan, contact one of our brokers on 1300 889 743 or enquire online, free!
How Do Banks Show My Surplus?
Lenders can express your surplus or shortfall in different ways – as a ratio, a monthly dollar figure, an annual dollar figure or a simple pass/fail result. In most cases, however, your capacity to meet repayments is displayed in one of two ways: Net Surplus Ratio (NSR) The NSR determines your current debt expenses, proposed debt expenses and living expenses, to establish how many times your income can cover your expenses. The formula for calculating NSR: (After Tax Monthly Income – Total Monthly Living Expenses) / Total Monthly Commitments For example, the ratio could be 1:1.30 which would mean that you have enough money to pay 30% more than the debt level for which you are applying. A ratio of 1:0.90 would mean that you cannot afford your debts and your loan would be declined. Most lenders require you to have a minimum NSR of 1:1.00 but we recommend that most of our customers keep their ratio above 1:1.05. Uncommitted Monthly Income (UMI) or Monthly Surplus Your UMI is the available income after all monthly expenses, including loan repayments, have been deducted from your gross monthly income. This is the way that our ‘How much can I borrow?’ calculator displays the result from each lender. UMI and NSR are, in effect, the same. It is the buffers and assessment rates a lender uses that will determine your borrowing power.) [2426] => stdClass Object ( [post_id] => 40732 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Despite the positives, cross-collateralisation can get very messy, very quickly. Untangling this mess can turn into a nightmare because you just don’t get the same flexibility as having separate investment loans.
Market downturns can be devastating
This is where cross-collateralising can be a death knell to your investment plans. Most investors are weary of avoiding concentration risk or not “putting all of their eggs in one basket” when it comes to choosing property locations. However, even if most of your properties have enjoyed a capital gain, a significant drop in value with just one of your properties could see the net effect on your total portfolio value reach zero. That’s because the properties are linked. The equity in the property that increased in value can’t be accessed because the overall equity in the portfolio didn’t increase. For example, property prices have dropped considerably in mining towns that have seen significant economic deflation, most notably in Western Australia.Banks can get power over your home
If you can’t pay your home loan, the bank can decide where the proceeds of a sale are allocated on your cross-securitised mortgage. They can pretty much tell you what loan to pay, how much and when in order to keep the LVR within their acceptable level, usually at 80% of the property value or lower. This could potentially mean they can force you to sell your own home rather than one of your investment properties. If you already have a few properties in your portfolio, call us on 1300 889 743 or complete our free assessment form. We can provide a “health check” of you current mortgage strategy and whether it will continue to support your investment goals going forward.All properties need to be revalued when refinancing
f you want to refinance to drawdown equity, get a better interest rate or simply switch home loan packages with your bank, all properties will need to be revalued. First of all, this can come at a significant cost depending on how many properties are cross-securitised. Secondly, the process can be complicated and time consuming as banks have to order a Variation of Security. It’s ok if you’re not in a rush to settle on your new property. The much bigger risk is that the valuer could come back with a low valuation, preventing you from refinancing.Switching to a new lender can be tough
Planning to refinance your portfolio with another lender? Perhaps the lender is offering a better interest rate or has a higher mortgage exposure limit. The problem is that each lender has different lending policies and may not accept:The bank may restrict you to P&I repayments
As your mortgage exposure with one bank increases, you’ll be restricted to certain loan types such as making principal and interest (P&I) repayments instead of interest only. If P&I doesn’t form part of your current strategy, it may not be a good idea to add another property to your portfolio until you’re able to pay down your LVR to around 50-60% and build up your savings. Because of this, investors with long-term investment plans may find using multiple lenders a better option than cross-securitising.) [2427] => stdClass Object ( [post_id] => 26789 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
We’re specialists in 95% LVR investment loans.
To find out if you qualify, call us on 1300 889 743 or complete our free assessment form today.
) [2428] => stdClass Object ( [post_id] => 35019 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Can I still apply for FHOG?
Yes! If this is your first purchase and you’re buying a newly-built property, you can apply for the First Home Owners Grant (FHOG) or your state’s equivalent.
This could be up to $15,000 depending on your state.
In this way, you can pay your parents back sooner.
Insights into first home buyers
The second biggest challenge facing first home buyers (FHBs) trying to crack the property market is saving a deposit, which rose from 20% to 24% in just a 6-month period.
That’s according to the Genworth Homebuyer Confidence Index (March 2016) report, which found that the number one challenge was high property prices.
Since 2009, the proportion of FHBs who used savings as part of their deposit has decreased by 39% (from 72% in 2009 to 44% in 2016).
During the same period, the proportion of FHBs who used sources other than savings as part of their deposit increased by 43% (from 46% in 2009 to 66% in 2016).
Gifted deposits, guarantor loan and parent assist home loans are the best no deposit solutions on the market and more and more young Australians are looking to these alternatives to buy a home.
We’re experts in parent assist home loans
Speak with one of our experienced mortgage brokers by calling 1300 889 743 or by filling our free assessment form today.
) [2429] => stdClass Object ( [post_id] => 76399 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Can I Take Over My Parents’ Mortgage After They Die?
After your parent dies, someone will be responsible for distributing their assets in accordance with their will or with the terms of their trust. During this period of time, the trustee or executor of your parent’s estate will use the estate’s money to make the mortgage payments. If you have the right to ownership and plan to live in the property, you also have the right to take over the mortgage. You can let the lender know and may need to supply a death certificate to prove that you’re now the rightful owner. In cases like this, the benefit is that there is typically no capital gains tax (CGT) payable when the property transfers to you and the bank won’t charge you a fee for assuming the mortgage. Of course, it’s not always that simple, particularly if you have siblings and close relatives claiming rights ownership in lieu of a will. Going through a probate court can often cause huge family disputes.Why Would You Take Over Your Parents’ Mortgage?
There are a number of reasons that you may decide taking over your parents’ mortgage is the right course of action. The biggest reason is to help your parents remain in the family home. Some of the reasons your parents may need help include:What Can Go Wrong?
Ultimately, taking over your parents’ mortgage is often done on the proviso that you’ll be “taken care of” once your mum and dad pass away. However, it’s essential that you check that you are named as beneficiaries in the property prior to this. One thing that can stifle this from happening is if your mum or dad remarries following the death of the other and there is no life interest set up naming either spouse as beneficiary. For example, if your dad died a few years ago and you had been helping your mum pay off the home loan for an extended period of time, planning to continue until she too dies, the property could actually revert to her new partner, rather than you as a child of the deceased. A life interest is usually set to avoid this and ensure that the beneficiaries of the estate are firstly your mother and, after her death, the surviving children. It’s essential that you and your parents have estate planning in place before considering taking over your parents’ mortgage.How Else Can I Help My Parents?
Apart from taking over your parents’ mortgage, there are a few other solutions and tactics you can use.Speak With The Lender
Have your parents spoken to their bank about reducing or allowing a repayment holiday until they can get back on their feet or find another source of income? Many lenders are willing to allow this to avoid default, particularly if your mum and dad haven’t had a mortgage default record in the past.Set Up Direct Debit For Your Mum And Dad
In some cases, old age can bring on forgetfulness and senility, which is a problem if your parents had been making their mortgage repayments manually. The simple solution may be to help your parents set up a direct debit on the bank account so they don’t have to worry about it.Pay Rent Or Board
If you’re currently living with your parents, help them out and pay board.Encourage Your Parents To Downsize
Mums and dads are often very nostalgic and emotionally attached to their homes and will fend off downsizing as long as they can. The other reason is that they’re waiting for the right time to sell to get a good price on the property. If it’s clear that your parents are struggling with the repayments or there’s no way they can keep working and earning an income past retirement age, you can help them along by trying not to move back home all the time. Another tactic you can try is to take all of your possessions out of the house as well as clearing out other clutter. This can help ease them into the emotional struggle of selling the family home.Pay Them To Babysit
If you have children of your own, help your parents out with the mortgage by paying them to look after your kids for a weekend a month. This can give you and your spouse more quality time, your parents won’t feel embarrassed to ask for help and you’re saving money on child-minding.Pay Them To Look After Your Pets
If you’re going on holiday or don’t have a enough time for your cat or dog, give your parents some money to look after your fur babies. It’s a lot cheaper than renting a kennel!Use Equity To Pay Out The Remaining Mortgage
If there’s only a small amount owing on your parents’ mortgage, you can use the equity in an existing property, cash out and pay out the remainder of the loan. In most cases, you can borrow up to 80% of the value of your property (based on a bank valuation). Keep in mind, there may be break costs if the mortgage is currently fixed. Before you do this, you may want to protect your own interests and ensure that a will has been written up stating that you are, in fact, a beneficiary of the estate. For more tips, the Helping someone with mortgage problems page on the MoneySmart website provides some useful tips.Seek Legal And Financial Advice
Taking over your parents’ mortgage, whether through buying the property below market value or helping out with the mortgage repayments, is a big decision. Going about it the wrong way can prove costly in the long run, with future legal disputes possibly affecting your ability to borrow in the future and putting you under financial strain if you already have a home loan. Speak to your mortgage broker or your lender first. They may be able to provide a solution. After that, speak to a financial adviser and a solicitor about other possible solutions. Call us on 1300 889 743 or complete our free online assessment form and we can put you in touch with a bank representative or a solicitor who can help you. ) [2430] => stdClass Object ( [post_id] => 76346 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Adding your partner to your property title can be complicated especially if you have a unique personal situation or home loan feature. However, our mortgage brokers can help make this into a relatively straight-forward process and help you switch lenders. Call 1300 889 743 or enquire online to speak with one of our mortgage brokers today! [sg_popup id=81314] [wbcr_snippet id="74839"] ) [2431] => stdClass Object ( [post_id] => 84764 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>You can include income from a second job as a teacher when applying for a home loan. It’s common for teachers, particularly those employed on a casual basis, to work a second job to supplement their income.
Perhaps you work as a tutor on the side, focusing on particular specialities like maths or English. This may be on a contract or freelance basis with other public schools, through a private education provider or as a self-employed tutor.
Generally speaking:
Our Home Loan Experts can let you know if lenders will accept your second-job income for your teacher home loan application. Call 1300 889 743 or complete our free online enquiry form today.
) [2432] => stdClass Object ( [post_id] => 5756 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Getting a home loan to pay out a divorce settlement, property settlement or separation agreement is assessed by the banks as both a purchase and a refinance. For this reason, lenders will assess your loan application in a different manner, applying different lending criteria:
) [2433] => stdClass Object ( [post_id] => 68187 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
We’re Here To Help!
If you’re looking at moving back into your investment property, our Home Loan Experts can help. We’ll make sure you get the best tax benefits and take full advantage of your finances.
Call us on 1300 889 743 or fill in our short assessment form to discuss your situation.
[sg_popup id=81314] ) [2434] => stdClass Object ( [post_id] => 3900 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>In order to obtain a great loan package, you need to apply with a lender that takes a common sense approach to your income. Otherwise, your loan will almost certainly be declined!
The best thing to do is to contact one of our mortgage brokers who know the lending criteria and can help you get approval!
To speak to someone about getting a loan using income from workers compensation, please enquire online or call us on 1300 889 743 and talk to one of our expert mortgage brokers who can help you get approved!
) [2435] => stdClass Object ( [post_id] => 33333 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
How We Can Help Today And In The Years To Come
If you use us as your mortgage broker, we can match you with the right bank for you and lodge a pricing request to make sure they sharpen their pencil and give you a better deal.
However, what you really need is someone to monitor your mortgage and challenge the bank every time they mess with your rate.
We have a team that spends all day repricing the loans for our existing borrowers and it's totally free of charge! Their goal is to get your bank to match the current offers from the market and when they don't, recommend that you refinance.
What that means is that you don't have to worry about your rate for the 30-year life of your loan!
Call us on 1300 889 743 or fill in our free assessment form and we'll let you know what interest rates you quality for.
) [2436] => stdClass Object ( [post_id] => 71413 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Our mortgage brokers can help audiologists save on a home loan with waived LMI. Call us on 1300 889 743 or enquire online to see if you qualify. [wbcr_html_snippet id="73985"] ) [2437] => stdClass Object ( [post_id] => 330 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => We have the LMI premium rates and tables for most major lenders in Australia. If you aren't sure which lender offers the cheapest LMI for no deposit home loans then please enquire online or call us at 1300 889 743 for a free quote. [wbcr_snippet id="74120"] ) [2438] => stdClass Object ( [post_id] => 3378 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
If you think that your penalty pay is regular enough for you to rely on it to make your mortgage repayments then please enquire online or call us on 1300 889 743 to talk to one of our mortgage brokers.
) [2439] => stdClass Object ( [post_id] => 36057 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Please call 1300 889 743 or complete our free assessment form to discover if you qualify for a borrowed deposit home loan.
) [2440] => stdClass Object ( [post_id] => 42823 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
We're experts at helping ADF members quality for amazing home loan discounts.
Please call us on 1300 889 743 or fill in our online enquiry form and we can let you know if your incapacity benefits will be accepted.
Disclaimer: The above information shouldn't be taken as advice as to your eligibility for permanent impairment or incapacity payments. We're a mortgage broker and we've made every effort to include up-to-date information on this page. It's essential you seek guidance from the DVA and/or your military super fund.
) [2441] => stdClass Object ( [post_id] => 43534 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Apply For An Equity Release Home Loan
Call us on 1300 889 743 or fill our free assessment form to discover if you qualify for an equity release home loan.
[wbcr_html_snippet id="70801"] ) [2442] => stdClass Object ( [post_id] => 43236 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>It's common for high income earners like quantity surveyors to buy an investment property in their trust for asset protection purposes as well as the tax benefits.
Many banks don't understand how they work but we're experts in trusts, buying property in a company structure and self managed superannuation funds (SMSFs).
Please call us on 1300 889 743 and one of our mortgage brokers will call you to discuss your options.
) [2443] => stdClass Object ( [post_id] => 53690 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Always get pre-approved before bidding at auctions, online or public. Our award-winning mortgage brokers are here to get you approved and to help you through the home buying process. To get started on your pre-approval, speak with one of our specialist mortgage brokers by filling in our short assessment form or call us on 1300 889 743. ) [2444] => stdClass Object ( [post_id] => 34997 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
We're credit experts that specialise in helping people in tough situations to qualify for a home loan.
Not all lenders take a common-sense approach to bad credit and unfortunate life events, but we know some that do.
Please call us on 1300 889 743 or complete our free assessment form today.
) [2445] => stdClass Object ( [post_id] => 13737 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If your bank has declined your home loan because of your credit score, then the worst thing you can do is apply with several more lenders and end up with a decline from them as well!
Each application will lodge an enquiry on your credit file, further reducing your credit score for future applications.
Instead, if you enquire online or give us a call on 1300 889 743, then one of our mortgage brokers can fully assess your situation. We can help you to identify why you failed their credit score, and help you to apply with the right lender this time.
Remember that there are many lenders that do not credit score and still have competitive interest rates, you just need to know which ones they are!
) [2446] => stdClass Object ( [post_id] => 14197 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>The lending policies of the banks are complicated and vary greatly from institution to institution. Don’t have time to research it yourself? We’ll do it for you!
Our brokers will identify any elements of your application may be an issue to the lender. We have the experience to know which aspects will clash or cause problems when combined.
For example, a bank might allow someone to apply for a construction loan, and their policy also allows loans in trusts, however they might not approve a loan if the two are combined.
Even the property used as security can cause your loan to be declined. A lender may decline a home loan to buy commercial property even if the loan is secured by residential property.
The list goes on! We know how to balance the risk of your application and sell it to the banks.
Call us on 1300 889 743 or fill our online enquiry form and discuss your situation with an experienced mortgage broker.
) [2447] => stdClass Object ( [post_id] => 32579 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers to find out if you qualify for a non-recourse business loan.
) [2448] => stdClass Object ( [post_id] => 8122 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Each lender has different documentation requirements. However, most lenders will generally request:
If you would like to apply for a fast refinance loan please speak to us on 1300 889 743 or enquire online today and we can help you refinance with a lender that will offer you the most competitive rates!
) [2449] => stdClass Object ( [post_id] => 13404 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
The purpose of the valuation is to protect you and the banks from any potential losses in case the property needs to be sold. What happens after a valuation comes in short depends on your situation.
If you're planning to purchase a property and the valuation comes in short then it isn't really a bad thing. It just means that the purchase price you've agreed on is above the value of the property.
If the valuation comes in low, it gives you a chance to re-negotiate with the seller.
If you're looking to refinance and the property value comes in short then you're limited in your options. You're able to challenge a banks valuation, however, the success rate is low.
A good solution for this is to order a valuation with another bank and see if it comes in higher.
Our mortgage brokers are able to find the best home loan for your circumstances. Contact us today on 1300 889 743 or complete our free assessment form.
) [2450] => stdClass Object ( [post_id] => 45324 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Would you like to buy a home or an investment property?
Find out what discounts are available to you with a physician home loan.
Call us on 1300 889 743 or complete our free assessment form today.
) [2451] => stdClass Object ( [post_id] => 77140 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Buying a property can be a complex process, but it doesn't have to be. Home Loan Experts can help you navigate the market and get your home loan approved. Trust us to help you reach your property dreams. Call us on 1300 889 743 or complete our free online assessment form today.
) [2452] => stdClass Object ( [post_id] => 19337 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Does this all sound too confusing? Don’t worry, you’re not alone!
Call us on 1300 889 743 or enquire online and one of our specialist brokers can tell you whether a fixed rate is suitable in the current market environment and, most importantly, for your situation.
) [2453] => stdClass Object ( [post_id] => 59450 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>You have now called a couple of brokers already. But how do you now narrow down your best choice from those options?
After checking out the best reviews from Product Review for Mortgage brokers, we compiled a list of qualities that made clients the happiest.
These feedbacks are from clients who successfully settled their home loans with the help of mortgage brokers. You can use this information to reverse-engineer the selection process. Look for brokers who fulfill these qualities and narrow down your final choice. This way, your chances of being a happy client increase.
Luckily, and with sheer hard work, our brokers imbibe all the above qualities. Since we are the members of both FBAA and AFCA, we hold the highest standard of integrity while performing our work.
Be wise and choose right
Choosing a mortgage broker can be almost as important as choosing your life partner! It could be a commitment of around 25 years - the general tenure of a home loan. Make sure you are not hurrying into the process. Ask the right questions, look for reviews and be vigilant of their intentions.
To make your choice easier, we have made a short argument for why we are the best mortgage brokers out there:
If you are still unsure, we suggest you try our free services and then make a choice. Fill our free online assessment form or call us at 1300 889 743.
We wish you all the best in finding the right broker!
) [2454] => stdClass Object ( [post_id] => 59758 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Many medical professionals use waived LMI to buy investment properties and quickly build their property portfolios. Since you may qualify for 90% no LMI, you can look for options to buy a number of properties. It’s the perfect time to start investing but you might want to take into account your income protection and insurance. You can speak with one of our specialist mortgage brokers by calling us on 1300 889 743 to help you set up the right investment loan strategy.) [2455] => stdClass Object ( [post_id] => 72010 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Going directly to a bank may seem like a good idea, but it usually requires too much of your time and effort. With a mortgage broker's assistance, not only will you save time, you’ll also have access to better rates than the advertised ones.
Our Home Loan Experts mortgage brokers have years of experience working with Westpac. They know how to negotiate the best refinancing rates and strengthen your application.
To speak to a mortgage broker, call us on 1300 889 743 or fill in our free online assessment form.
) [2456] => stdClass Object ( [post_id] => 47426 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Call 1300 889 743 or fill in our online enquiry form today to speak with an SMSF mortgage specialist about plans to invest in property. We have many years of experience in SMSF lending and nearly 40 lenders to choose from. ) [2457] => stdClass Object ( [post_id] => 21184 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>After you submit your home loan application, the lender will confirm that the information you have provided is accurate so you're not overcommitted.
They may ask for more supporting documents and evidence based on your situation but once everything has been confirmed, the lender will issue you with an approval in principle.
This means your loan is basically approved subject to the fulfilment of certain conditions including a proper valuation of the property.
Once these details are confirmed, you will be given formal approval and it will take around a week for you to be sent the loan offer documents.
To better understand the steps to looking for a property, securing a home loan and how the settlement process works, check out our home buying process page.
When you’re ready to buy, get in touch with one of our expert mortgage brokers by calling 1300 889 743 or completing our free assessment form.
We can fix any of the bank’s mistakes and walk you through the loan offer process so you can avoid the stress!
) [2458] => stdClass Object ( [post_id] => 503 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If you own a large block of land with a wide frontage then you may be allowed to build a duplex and then subdivide into two torrens or strata titles.
However, there are a few common problems faced by investors who decide to build a duplex, these are:
The solution is to apply with a lender that can lend on the ‘on completion value’ of two separate titles as opposed to a valuation ‘in one line’, which is significantly lower.
If you need help to finance the construction of a duplex then please call us on 1300 889 743 or fill in our free assessment form today.
) [2459] => stdClass Object ( [post_id] => 12041 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Here at the Home Loan Experts, our brokers specialise in all forms of mortgages that require LMI. We work with over 40 different banks and lenders, providing home loans for citizens, permanent residents, temporary residents, and non-residents from all over the world.
For more information and to apply for a loan, contact us today! You can enquire online and we will contact you, or call us on 1300 889 743.
) [2460] => stdClass Object ( [post_id] => 22309 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => A sub lease is a real property rental agreement between an existing tenant of a property and a new tenant. This sub lease arrangement must be approved by the landlord which, in the case of snow lease properties, would be the park operator. Purchasing a snow lease property is great if you enjoy the snow and don’t want to worry about finding accommodation during the snow season. The best part is, you can earn rental income for the remainder of the year by sub-leasing the property and even earn rental income at a premium if you decide to rent it out during peak periods. You won’t have to pay two rents or an expensive fee to get out of the lease contract and the head lessee doesn’t have to bother with having to find another tenant. If you, as an incoming buyer, wish to block out time for your own use you need to understand that once a booking has been deposited it can be moved if and only if the traveller consents to it being moved. We recommend dealing with lawyers who are familiar with the conveyancing of snow lease properties. We can recommend you a great conveyancer so please call us on 1300 889 743 today!) [2461] => stdClass Object ( [post_id] => 13120 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Do we charge for these services?
While many other specialist mortgage brokers charge their high net worth clients and annual fee for these additional services, we do not charge any extra for these services.
For most clients our services are free. Please refer to our fee schedule for a list of the situations where we will charge a fee.
We Are Experts In Helping High-Net-Worth Clients
We do not provide financial planning services, accounting, legal or other financial advice. We focus our efforts on being experts in mortgage broking and we prefer to work with your financial advisers to achieve the best result.
If you would like to find out more about how we can help you to grow your property investment portfolio, simply give us a call on 1300 889 743 or enquire online and ask to speak to one of our senior mortgage brokers.
) [2462] => stdClass Object ( [post_id] => 57955 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>More Australians use a mortgage broker to obtain their home loan than any other method.
We have adapted our systems and processes to support customers online with the features of digital home loans. We can quickly find you the best mortgage from one of the major lenders that we are accredited with.
Our experienced mortgage brokers can help to guide you through the process and can quickly work out which banks can offer you the best interest rate, terms and conditions.
Complete our free assessment form or call us on 1300 889 743 to speak with a mortgage broker.
) [2463] => stdClass Object ( [post_id] => 173 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>What types of construction projects can be financed?
You can use the funds to put towards the construction of:What if I am a developer?
The amount that you can borrow will vary, however in most cases we can help you borrow up to 80% of the cost of the project or up to 70% of the on completion value, whichever is the lesser. Banks will not approve a low doc loan for a developer as developers have an inconsistent income, often waiting years before receiving the profit from their projects. This is why specialist loans have been created for developers so that the loan has a confirmed exit date and capitalised interest to avoid the need for repayments.Knock down and rebuild
Banks can do knock down projects if you have plenty of equity in the land. Typically they will look at lending up to 80% of the land value plus the knock down and construction costs. If the demolition costs are significant or your new house is considered to be overcapitalising for your area then you may run into trouble! This is when we come in. As a specialist low doc mortgage broker we know which lenders are the most lenient with their construction lending guidelines.Make your renovation a dream!
Turn your renovation nightmare into a renovation dream by cashing up with a low doc loan! If your renovation is through a contract builder you can usually get your low doc loan approved without too many hassles. If the renovation work is minor, cosmetic or you will DIY (Do It Yourself) then we can get you a low doc renovation loan that relies on the equity in your current property. This way you can deposit the funds into your cheque account straight away without the need for the bank to do progress inspections! By keeping control of the funds you can avoid delays. Easy isn't it?What documents do the banks require?
Although you will not need financials such as tax returns, financial statements or notices of assessment, you will still need to show the bank an income declaration and the full details of your construction project. Most banks will need the following construction specific documents:Can I still get low interest rates?
The good news is that with most lenders, you will not pay a higher interest rate for a construction loan, even if it is low doc. In most cases you will receive the same rate as if you were purchasing a property.) [2464] => stdClass Object ( [post_id] => 66049 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Now that you understand how cash rate and interest rates are related, you should ensure that you get the best rates in the market and appropriate home loan features for your unique situation. We can help you get competitive interest rates. Speak to a Home Loan Experts mortgage broker on 1300 889 743 or complete our free online assessment form. [wbcr_snippet id="72598"] ) [2465] => stdClass Object ( [post_id] => 31719 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
First, we'll speak to you about your business direction and will determine whether we're a good fit for you.
Once this has been made clear and you've sent us the required documents, we'll start negotiations with a lender that is likely to approve your situation with favourable terms and at a competitive interest rate.
When we've found a suitable lender, we'll provide you with an Indicative Funding Proposal (IFP) to confirm the suggested conditions of the loan. A valuation will be arranged and a full loan application will be submitted to the lender after you accept the proposal.
During the process, we make sure that the advice from your solicitor and accountant are taken into account so that you get the best result possible.
Please call us on 1300 889 743 or complete our free assessment form and we can help you qualify for a commercial loan.
) [2466] => stdClass Object ( [post_id] => 357 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Contract employees usually have a high chance of getting their loan approved, if the loan is submitted to the right bank.
We are experts in this field and would love to help you buy a home even if you're on income proection payments, or get a better interest rate by refinancing. We can even help mining contractors, IT contractors & freelance journalists who have great difficulty obtaining a loan from most banks.
Please call us on 1300 889 743 or complete our free assessment form for a quote for a contractor mortgage.
[wbcr_snippet id="74658"] ) [2467] => stdClass Object ( [post_id] => 33336 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Check out our franchise loans page for a list of franchise systems that our lenders can help finance.
Some lenders are better than others when it comes to lending to your maximum borrowing limit!
We can help you put together a strong application so you have the best chance of getting approved for a competitively-priced franchise loan.
Call 1300 889 743 or complete our free assessment form to speak with one of our specialist mortgage brokers.
) [2468] => stdClass Object ( [post_id] => 76732 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>It's important to consider the pros and cons of buying property in a high-interest-rate market and to take a long-term perspective when making a decision.
Call us on 1300 889 743 or enquire for free online today, and we’ll assist you with any help you require with purchasing your dream home.
) [2469] => stdClass Object ( [post_id] => 70129 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => We know the right people in the field! Speak to our mortgage brokers, who specialise in dermatologist home loans. Call us on 1300 889 743 or fill out thefree assessment form today. [wbcr_snippet id="74205"] ) [2470] => stdClass Object ( [post_id] => 46847 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Allow us to properly prepare your application and highlight your strength as a borrower so you can avoid getting declined.
Call 1300 889 743 or complete our free assessment form today.
To give you an idea of what banks look for, read on.
Do you have experience?
It’s very difficult to get funding for a funeral unless you already own one and have extensive experience.
Most lenders tend to take a "resume style" approach when considering applications.
They will want to know whether you have a strong track record in running a business in the same industry so they can be confident that you can run a profitable business and won’t default on your loan.
If this is your first funeral home purchase, banks will scrutinise every aspect of your application and will undertake a yearly review.
Present strong financials
As a general rule, the bank will want to see the vendor’s (the seller of the funder parlour) last 2 years balance sheets showing profit and loss as well as assets and liabilities.
The lender may also ask for the last 2 years Australian Taxation Office (ATO) tax portals and Business Activity Statements (BAS) to show that the current operators have been meeting their tax obligations.
Essentially, the bank wants to know that you’re buying into a funeral home with good business fundamentals.
As a general rule, the business turnover is 1.5 to 2 times the proposed interest expenses of the business loan. This is known as the ‘serviceability ratio’.
Present a good business plan
Sit down with your accountant and come up with a business plan that details:
What is a SWOT analysis?
SWOT is the acronym for strengths, weaknesses, opportunities and threats and is an important tool that accountants use when determining the viability of a business venture.
For example, a strength may be that you’re buying a well-established funeral parlour with a strong business and referral book.
A weakness is that you’re competing with large-scale competitors with an established brand in the local area, like Guardian Funerals and Simplicity Funerals.
Basically, you have to show the banks that you have a funeral director in place and the financial backing to run a successful venture.
) [2471] => stdClass Object ( [post_id] => 35486 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Whether you've sold your property or you're planning to, give us a call on 1300 889 743 or complete our free assessment form.
We can help you to get approved for your new home loan and give you an estimate of the costs of buying a new property.
In that way, we can set your loan amount in a way that minimises your out-of-pocket costs.
[wbcr_snippet id="73257"] ) [2472] => stdClass Object ( [post_id] => 946 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
The majority of banks have very strict lending policies in relation to unit trusts. There are several banks that will lend to discretionary trusts but will not lend to unit trusts.
This may be because:
Don’t worry! There are lenders that can approve loans for unit trusts, you just need to apply with the right lender for your situation and trust type.
To speak to a mortgage broker who specialises in unit trust loans please call us on 1300 889 743 or enquire online today!
) [2473] => stdClass Object ( [post_id] => 8399 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
At Home Loan Experts we have brokers that specialise in loans over $1,000,000. As we work with many different banks and lenders, we know which are willing to assess applications at 90% LVR and 95% LVR.
Contact us today on 1300 889 743 or enquire online and one of our brokers will contact you.
) [2474] => stdClass Object ( [post_id] => 12983 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Lenders may view your situation differently depending on the cause of the tax debt. Some possible causes include:
We’re here to assist! Call us on 1300 889 743 or enquire online and one of our mortgage brokers will be in touch.
) [2475] => stdClass Object ( [post_id] => 48421 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Industry experts and analyst are expecting another cash rate cuts by the RBA (Reserve Bank of Australia) this year alone. With the RBA governor suggesting that the cash rate could go down to 1.00%.
Irrespective of further rate cuts or not, our specialist mortgage brokers know which banks have the most competitive variable interest rates on the market.
Please call us on 1300 889 743 or enquire online to find out if you qualify.
) [2476] => stdClass Object ( [post_id] => 50885 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Do you have a low Illion credit score? We can help!
Even if you have a low credit score, we are usually able to help you buy a property by either:
Our mortgage brokers regularly work with borrowers who wouldn’t normally qualify for a mortgage; in some cases, our brokers have spent 6-12 months getting them to a point where they qualify for a home loan.
Get started on your home buying journey!
Give us a call on 1300 889 743 or fill in our short no-obligation assessment form. ) [2477] => stdClass Object ( [post_id] => 2330 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Most lenders require your two most recent payslips.
This must show your Year To Date (YTD) income which the bank can then extrapolate to calculate your annual income.
Your YTD income must cover at least 3 months to be acceptable on its own.
If your payslip does not show a year to date income then you may have to provide additional documents such as:
However, most lenders are't so flexible and may require the following:
If you think that you may have difficulty providing this documentation, there is no need to worry!
We know lenders that can approve your home loan with as little as 3 months evidence of your commission income!
Speak to our team today on 1300 889 743 or fill in our free assessment form.
) [2478] => stdClass Object ( [post_id] => 70517 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
If you’re on a variable-rate home loan, one of our expert mortgage brokers can negotiate with your lender on your behalf to get you a better deal. Contact our mortgage brokers to get a free assessment of your home loan today. You can give us a call on 1300 889 743 or fill in our online assessment form.
) [2479] => stdClass Object ( [post_id] => 2019 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Please enquire online or call us on 1300 889 743 if you would like to talk with a mortgage broker who can give you expert advice on a line of credit home loan.
) [2480] => stdClass Object ( [post_id] => 59293 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Not every lender will lower rates on their home loan packages. However, our mortgage brokers are updated with lender rates and offers of over 50 lenders on our panel.
Whether you’re refinancing or pondering over getting a fixed home loan, our mortgage brokers are here to assist you. Call us on 1300 889 743 or fill in our free online assessment form to discuss your options and how you could benefit from the rate drop. ) [2481] => stdClass Object ( [post_id] => 54614 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Our mortgage brokers are up-to-date with the lending policies of over 40 lenders.
They will know how to assess your income and any lending policy changes due to COVID-19.
Call us today at 1300 889 743 or fill in our free assessment form.
) [2482] => stdClass Object ( [post_id] => 51002 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If so, there’s almost no reason not to take advantage of the LMI waiver available exclusively to select professionals - accountants being one of them.
Moreover, the interest rates on these loans are also highly competitive.
To find out if you qualify, speak directly with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our online assessment.
) [2483] => stdClass Object ( [post_id] => 7091 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Managing debt is easier with help from professionals. We know the lenders that will consider your situation so we only submit your application with the right lender, to maximise the likelihood of getting approved.
Don’t wait until you are buried deep in debt, we can help you take control of your finances:
Our mortgage brokers are experts in consolidating debts into a mortgage. Please call us on 1300 889 743 or enquire online to find out how we can help.
) [2484] => stdClass Object ( [post_id] => 19347 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
If the bed and breakfast is assessed as a commercial property, what do banks looks for?
Debt Service Coverage Ratio (DSCR): Most lenders will be guided by the business’ DSCR in order to determine your borrowing power.
This ratio should be over 1 meaning that the property is generating enough income to pay its debt obligations.
Land size: If the property is for residential purposes, lenders will generally accept properties that are no more than 50ha. Larger land sizes will require a commercial loan.
Hiring professional staff or DIY: If you're purchasing the property for commercial purposes, banks will want to see a business plan that shows income projections and cash flow forecasts.
You may decide to hire professional staff such as cleaners or cooks despite the fact that a traditional B&B is operated entirely by the owners.
The bigger your deposit, the more likely you are to get your home loan approved.
Location/Zoning: Bed and breakfast properties tend to be found in rural areas, outside of central business districts (CBDs).
For residential purposes, lenders generally want to see a property that's zoned as a Category 1 or 2 property.
Category 3 and regional properties may be financed if you have a larger deposit.
Speak to one of our B&B loan specialists by calling 1300 889 743 or complete our free assessment form.
) [2485] => stdClass Object ( [post_id] => 13482 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Which banks will approve your application?
Call us today on 1300 889 743 or enquire online and allow our expert brokers to assist you in getting your mortgage approved!
[wbcr_snippet id="73606"] ) [2486] => stdClass Object ( [post_id] => 35965 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>The bank will usually ask the current vendors for their 2-3 years financials to show that they've been running a profitable turf farm business.
If you're buying from a distressed seller, your business plan needs to reflect how you plan to turn the farm around.
Bank appetite for agricultural land changes on a regular basis but much of the above concerns can be mitigated with a strong business plan and speaking with the right relationship manager.
Presenting a strong case is key so speak with one of our mortgage brokers about your plans.
Call 1300 889 743 or fill in our free assessment form today.
) [2487] => stdClass Object ( [post_id] => 77908 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => If you are ready to invest in build-to-rent property, Home Loan Experts is here to help. Our experienced mortgage brokers will help you get your finances in order for a commercial loan and get a step closer to your financial goal. We will assist in navigating you through the mortgage process and help you secure the best-suited loan. Feel free to contact us at 1300 889 743 or fill in our free online assessment form today! ) [2488] => stdClass Object ( [post_id] => 21318 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Our mortgage brokers will be happy to speak with you.
Many of them are successful property investors in their own right and know from experience what infrastructure projects will have the greatest impact on property values.
Call us on 1300 889 743 or complete our free assessment form today!
) [2489] => stdClass Object ( [post_id] => 48931 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>First home buyers saw their borrowing power increase by 15%, while investors saw an increase of 15% to 30% after banks were allowed to set their own assessment rate by prudential regulators (APRA).
This combined with RBA’s back to back rate cuts has created a record-low interest rate environment which is expected to persist; making it an ideal time for prospective buyers to enter the property market.
If you’re a prospective buyer, now is the time to get pre-approved.
Anecdotally, several real estate agents have informed us that many property owners are planning to put their properties up for sale this spring. Any buyer who is preapproved will be able to act quickly, giving them an advantage over other buyers.
Please give us a call on 1300 889 743 or fill in our online assessment form to speak with one of our award winning specialist mortgage brokers.
) [2490] => stdClass Object ( [post_id] => 70738 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => In conclusion, the rising interest rates and falling house prices will affect housing affordability.There are more sure fire ways to buy a home with a small deposit, so if you’re struggling to save a deposit, please call us on 1300 889 743 or fill in our free assessment form today.
Let our expert mortgage brokers start you on the journey to home ownership with solutions that best suit your needs.
) [2492] => stdClass Object ( [post_id] => 55617 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Not necessarily.
Typically, for loans greater than 90% of the property value, lenders want to see that you have saved up the deposit yourself over time, which is known as the genuine savings requirement. It demonstrates to the lender that you are financially responsible and have a savings habit.
This genuine savings requirement is something that often gets home buyers knocked back for a mortgage, simply because they aren’t aware of it.
However, there are specialist lenders who can consider borrowers with no genuine savings of their own, but the interest rates will be higher.
Simply put, it’s better to have genuine savings as it will give you more lender options.
Alternatively, we can use rent as genuine savings to qualify with a major lender.
To find out which lenders don’t need genuine savings, speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our online assessment form.
) [2493] => stdClass Object ( [post_id] => 44403 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
In many ways, short-term rental properties can behave very much like commercial real estate such as a hotel or backpacker's accommodation
The good news is that banks generally don't view Airbnb properties that way which means you can qualify for much cheaper residential investment loan rates.
It's unclear how long before lending policy catches up to this growing market so speak to a mortgage broker about buying a property or turning your home in to short-term rental property.
Call 1300 889 743 or complete our free assessment form today.
) [2494] => stdClass Object ( [post_id] => 60637 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Properties are selling fast across Australia.
You need to be prepared to act fast and get a mortgage and organise your finances before another buyer snaps up your dream home.
Our mortgage brokers are experts in helping seasoned investors and first home buyers. Call us on 1300 889 743 or enquire online.
) [2495] => stdClass Object ( [post_id] => 44665 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>We'll assess your eligibility and let you know if you qualify for a 90% waived LMI home loan.
Call us on 1300 889 743 or complete our online assessment form to start the process today.
[wbcr_snippet id="74134"] ) [2496] => stdClass Object ( [post_id] => 31505 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Discover if you qualify for a fringe benefits mortgage by calling us on 1300 889 743 or by completing our free assessment form today.
Is your employment and income situation a little outside of the box?
Check out the unusual employment loans page for more information.
[wbcr_snippet id="74549"] ) [2497] => stdClass Object ( [post_id] => 35644 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
You should always get legal advice from a solicitor that specialises in commercial property purchases.
We can recommend some to you!
Commercial loans and their associated terms are highly negotiable so it's important to speak to a specialist mortgage broker.
We're here to help you present a strong case to the right lender.
Call us on 1300 889 743 or fill in our online enquiry form.
We'll come back to you with an indicative funding proposal and let you know if you can avoid a General Security Agreement.
[wbcr_snippet id="75580"] ) [2498] => stdClass Object ( [post_id] => 4024 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Our mortgage brokers know which lender can approve your loan on behalf of the mortgage insurer. We are the specialists in LMI policy and DUA criteria.
Please fill in our free assessment form or call us on 1300 889 743 and one of our mortgage brokers will give you a call to discuss your situation.
) [2499] => stdClass Object ( [post_id] => 8066 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If employees are working on a contract or as freelancers and as such their LAFHA is not part of a salary package, they will have to claim it for themselves.
LAFHA will be evaluated by the tax office on a number of factors like distance of move, type of occupation, tax and or visa status, intent to return to original place of residence, family situation and length of relocation.
We can assist you with your home loan by making sure that the lenders can evaluate your LAFHA payments! Enquire online or call us on 1300 889 743 to talk to a qualified mortgage broker.
) [2500] => stdClass Object ( [post_id] => 5000 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Enquire online or call us on 1300 889 743 to find the right lender for your low doc loan! We can help you choose a competitive loan from our panel of specialist low doc lenders.
[wbcr_snippet id="75944"] ) [2501] => stdClass Object ( [post_id] => 68346 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>How To Find A Private Mortgage Lender
The maximum LVR for LMI is usually 95%.
However, we have lenders on our panel who can go up to 98% inclusive of LMI.
Case study example:
Vernon was a first home buyer, looking to buy in New South Wales. He was looking to buy a property valued at $590,000 and have saved up $34,000. He was also eligible for a $5,000 stamp duty waiver.
His loan to value ratio was 98%.
After an initial conversation with our broker, Vernon was eligible for the 95% + LMI home loan product, i.e. he could borrow up to 98% inclusive of LMI. Vernon's loan amount would be $563,820 and his lender's mortgage insurance was approximately $24,200.
To find out which lenders offer higher LVR inclusive of LMI, please call our mortgage brokers at 1300 889 743 or fill in our free assessment form.
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With 50+ lenders on our panel, compare the most beneficial deals for your 20% deposit plans.
Speak with one of our award-winning specialist mortgage brokers by giving us a call on 1300 889 743 or filling in our online enquiry form.
) [2504] => stdClass Object ( [post_id] => 3879 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If you don't have a deposit then you may want to consider asking your parents if they can help you apply for a guarantor home loan with a Security Guarantee.
If you do not have a deposit and cannot afford the repayments on your own then you will need your parents to guarantee your loan using a Security & Serviceability Guarantee.
Want help applying for a home loan? Speak to us today on 1300 889 743 or enquire online and our specialist mortgage brokers can assist you in the process and make sure you get the best rates around!
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Applying for a mortgage while working in a family business can be complicated. Our expert brokers have helped others in the same position to get approved, so why not you?
Enquire online or call us on 1300 889 743 today to discuss your situation in more detail with one of our brokers who will help you get approved!
[wbcr_snippet id="74662"] ) [2506] => stdClass Object ( [post_id] => 53119 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Here at Home Loan Experts, our award-winning mortgage brokers specialise in getting tough loans approved.
And with almost 40 lenders on our lending panel, we can usually find you a solution.
Call us on 1300 889 743 or fill in our free assessment form and find out why we were awarded Australian Mortgage Brokerage of the Year at the 2019 Australian Mortgage Awards and Best Independent Office at the 2020 Better Business Award (NSW).
) [2507] => stdClass Object ( [post_id] => 28375 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Do I qualify for any discounts?
Unfortunately, there are no interest rate discounts if you’re borrowing 97% LVR. On top of that, since high LVR lending is considered high risk, you may be looking at a slightly higher interest rate than normal.
Luckily, we can help you qualify for the same interest rates as someone borrowing less than 90% LVR depending on the strength of your situation.
Can I reduce the LMI premium I have to pay?
As mentioned above, LMI is charged by the bank in order to protect them from loss in case you default on your mortgage. It is generally applied when borrowing more than 80% or more of the property value.
If you can save up a bigger deposit and bring down your LVR to 95%, this will put you in a lower LMI rate bracket meaning you’ll be charged a much lower mortgage insurance premium.
Is it possible to avoid paying LMI altogether?
Did you know that there is a no deposit home loan solution where you can ask your parents or a close relative to secure your mortgage with their property?
Known as a guarantor loan, it allows you to borrow up to 105% of the purchase price, which is the value of the property plus the additional costs that come with buying a property in Australia including stamp duty and legal fees.
There are only two or three lenders that will accept a no deposit option for the purposes of purchasing an investment property so please complete our free assessment form to find out if you qualify.
Speak to a mortgage broker today
Getting approved for a 97% investment loan can be tricky. You need to present a strong case and apply with the right lender to be eligible.
Do you need help applying for a 97% investment loan?
Our mortgage brokers are low deposit investment loan specialists who are experienced in 97% investment loan bank policy and have a range of lenders to choose from.
In fact, many of our brokers previously worked in the credit departments of banks and major lenders as the officers actually approving and declining 97% investment loans!
Call us on 1300 889 743 or complete our free assessment form and speak to one of our brokers today!
) [2508] => stdClass Object ( [post_id] => 20918 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Banks are terrible at reading payslips! Even common payslips for nurses and police can be very complicated which leads to the banks making mistakes.Our mortgage brokers are experts in helping people who have difficulty in proving their income get approved for a home loan. We can even help fix the bank’s mistakes!
Call us on 1300 889 743 or fill in our free assessment form to find out if we can help.
) [2509] => stdClass Object ( [post_id] => 1078 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If you need the services of a mortgage broker to help get your loan approved then please call us on 1300 889 743 or complete our free assessment form to speak with one of our experienced credit specialists.
) [2510] => stdClass Object ( [post_id] => 32551 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>In some cases, your lender can extend your interest only period over the phone, via your mortgage broker or by you filling in a form. They don't need to reassess your full situation.
However, if you don't meet certain bank criteria then you'll need to submit a full application for the bank to assess. That means proving your income and in some cases providing statements for your other debts.
Most banks require a full assessment if you're asking for an extension for more than 5 years or your loan will have more than 10 years in total with interest only payments.
How to do a quick extension
Firstly, call us on 1300 889 743 and we can let you know if you're eligible. Yes, you can call us even if you didn't use us as your mortgage broker and we'll help you free of charge.
We can then send you a form to sign to extend your interest only period. With some banks, we may just call them or ask you to complete a section in their internet banking.
How to do a full assessment
If you aren't eligible for a quick extension then you'll need to do an internal refinance. That means we'll need your payslips and a couple of other documents and will be submitting a full loan application.
Your loan term will normally be extended back out to 30 years but you can choose not to do this if you'd prefer to keep your original loan term. Your interest only period will also be extended when the assessment is complete.
What if my bank won't extend my interest only term?
Don't worry, there are other lenders who can help.
Call us on 1300 889 743 or fill in our free assessment form and we'll let you know what options are available.
) [2511] => stdClass Object ( [post_id] => 44683 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Call us on 1300 889 743 or fill in our online enquiry form and we'll let you know if you're eligible for an 85% no LMI home loan.
) [2512] => stdClass Object ( [post_id] => 32165 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If you don't have someone who can act as a guarantor for your business loan or you're just not comfortable with the arrangement, there are other solutions available to you depending on the amount you need to borrow for your business.
The following solutions don't require to have a guarantor or a residential property as security however you'd need to be a strong financial position and show that your business is in a healthy position:
Of course, if you need to borrow more for your business or you need money for start-up capital, your only other options are to save up a deposit or use a residential property you own, when it's your home or an investment property, as "first party guarantee".
What about a non-recourse business loan?
This is typically for business owners who don't want to use a guarantor or their own property as security for a business loan.
This is typically only available for larger businesses with over $5 million in turnover and there are rules that apply to this type of lending.
Call us on 1300 889 743 or complete our free assessment form so we can take a thorough look into your situation and your needs in order find the right business loan solution for you.
) [2513] => stdClass Object ( [post_id] => 1938 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
At least a 30% - 40% deposit is required based on the total value of the land plus cost of construction. This can also include equity in your land.
If you have enough cash, then you can buy outright with the normal process.
If the property is complete, you can borrow up to 90% of the value in most cases. Often, people borrow from their family to build the home and then refinance when it's complete and pay back their family.
Please call us on 1300 889 743 or complete our free assessment form to talk to a mortgage broker in our office for expert advice.
) [2514] => stdClass Object ( [post_id] => 30714 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
As mortgage brokers, we can't assist you with buying a property but we can help you get approved for a home loan.
We also have a number of free resources that you can access on the ebooks page such as negotiating at auction and what to look for when inspecting a property.
If you need a home loan to make your property ownership dreams a reality, call us on 1300 889 743 or complete our free assessment form today to speak with a mortgage broker.
) [2515] => stdClass Object ( [post_id] => 35472 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Let us fully assess your situation and let you know if a rate tracker home loan is right for you. There are plenty of fixed rate options that you could take advantage of right now! Call us on 1300 889 743 or fill in our online enquiry form today.) [2516] => stdClass Object ( [post_id] => 30753 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
By presenting a strong case, with good financial evidence to the right lender, you not only put yourself in a good position to get your barristers chambers commercial loan approved but you could qualify for significant discounts as well.
Borrowing the amount you need for a modern barristers chambers in a great metro location is possible with the help of specialist mortgage broker.
You can also get heavily reduced commercial interest rates with a broker that has strong lender relationships and good negotiation skills.
Call us on 1300 889 743 or fill in our free assessment form and speak to an expert in barristers chambers commercial loans.
) [2517] => stdClass Object ( [post_id] => 3417 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>There are three main factors that help you get the cheapest possible equity loan so that you can release funds for use in your small business:
Our mortgage brokers are specialists regarding finance for small and medium sized businesses.
If you own a property and would like to use it as security for a business equity loan then please call us on 1300 889 743 or enquire online and one of our brokers will give you a call to discuss your needs.
) [2518] => stdClass Object ( [post_id] => 2868 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Happy with the news of a lower interest rate, Rebecca and Elton were all set to refinance their home loan.
They had all their documents ready and approached their bank. Unfortunately, their application was declined as Rebecca had a $1,000 judgment on her credit file.
Undeterred, the couple sought our help. One of our mortgage brokers advised Rebecca to get her judgment removed before applying with another lender.
Rebecca immediately worked on paying the $1,000 judgment and requested a Notice of Discontinuance. This formal notice is served to the defendant to end the active lawsuit.
Now that the judgment was removed for Rebecca’s credit file, the couple was able to refinance to a better home loan.
Learn how we helped Rebecca and Elton refinance a home loan with judgment.
Are you facing a similar situation like Rebecca and Elton? Our mortgage brokers specialise in helping people with bad credit get a home loan. Call us at 1300 889 743 or fill in our free assessment form.
) [2519] => stdClass Object ( [post_id] => 77795 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
If you’re a first-home buyer, it’s essential to do your research and determine which schemes are best suited to your needs and financial situation. With the right support and guidance, you can take the first step towards owning your home. If you have further questions or want to discuss your options in more detail, call us on 1300 889 743 or complete our free online assessment form.
) [2520] => stdClass Object ( [post_id] => 69462 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>How Can You Stay On Top Of Interest Rate Changes?
As mentioned above, the RBA decides on the first Tuesday of every month (except January) whether to change the cash rate. You can check the RBA’s latest cash rate here. You can even contact your broker or lender to learn of any forthcoming changes to the interest rate, so you can make an informed decision.
How To Get The Lowest Interest Rate For Your Home Loan
With the information above, you are ready to make informed decisions when your interest rate changes. Remember, countering changes in the interest rate can save you literally thousands of dollars on your repayments.
This is where our specialist mortgage brokers can help. By scouring dozens of lenders, we can help shape the perfect home loan for you.
To get started on the search for your dream home, please give us a call on 1300 889 743 or fill in our online assessment form.
) [2521] => stdClass Object ( [post_id] => 44172 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Given the ongoing royal commission into banking and financial services, more funding will be provided to the Australian Securities and Investments Commission (ASIC) ($2.7 million) and the Australian Prudential Regulation Authority (APRA) ($10.6 million). This one is another catch-22. Although it means the regulators will have better oversight to protect you, as a consumer, it also means that banks and mortgage brokers will tighten their processes to ensure they are compliant. As a result, you may get asked more questions when applying for a home loan. Right now, the focus is on living expenses. We can't help with tax advice, but we can certainly help you get a home loan! Please call us on 1300 889 743 or complete our free assessment form to speak with one of specialist mortgage brokers and discover if you qualify. ) [2522] => stdClass Object ( [post_id] => 73089 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => The best time to buy a home is always subjective, depending on your circumstances. With property prices falling now, buying sooner is better if you can afford to do so. If you keep waiting for the right time to buy, you could:Home Loan Experts can help! Speak with one of our mortgage brokers by calling 1300 889 743 or by completing our free assessment form today!
) [2524] => stdClass Object ( [post_id] => 1362 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Are there any LMI discounts or LMI waivers?
Please call us on 1300 889 743 or complete our free online assessment form and we’ll provide a tailed solution for you.
) [2525] => stdClass Object ( [post_id] => 23249 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
We are experts in lending to chiropractic professionals and we know which lenders offer incredible home loan discounts including reduced interest rates and an LMI waiver even when borrowing up to 90% of the property value.
Buy your dream home or rapidly build your property investment portfolio by calling us on 1300 889 743 or filling in our free assessment form.
[wbcr_snippet id="74079"] ) [2526] => stdClass Object ( [post_id] => 33319 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Are you running your own business?
If so, refer to our self-employed income page or low doc loan page.
As a general rule, banks will assess the overall position of you and your business. That means adding back your salary, dividends, super contributions, depreciation and NPBT.
Are you a shareholder in someone else’s business?
If your dividend income exceeds 25% of your total income then some banks will classify you as self-employed.
Other banks may accept an accountant’s letter from your business accountant and then can keep it simple by just assessing your tax returns and personal situation.
This is seen as less reliable than income from listed companies as a private business cannot be sold readily, there is only one business, and you may not have control over the dividends if there are other owners.
Do you have an investment in multiple businesses?
If you have several private businesses that you have a stake in, it can get quite complicated to assess your income. There are ways to get banks to reduce the paperwork that they need and give you a quick and easy approval.
Call us on 1300 889 743 or fill in our free assessment form to find out how our specialist mortgage brokers can help you to get approved.
) [2527] => stdClass Object ( [post_id] => 67141 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>At Home Loan Experts, our mortgage brokers are also seasoned investors, so we understand your needs. From getting you approved for finance to maximising your profits, we’re here to help. Call us on 1300 889 743 or fill in our free assessment form today.
) [2528] => stdClass Object ( [post_id] => 19726 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If you’re planning on refinancing your home loan, you will need to notify your current lender that the mortgage they hold is going to be discharged and that your loan will be repaid.
In most cases, you will need to fill in a Discharge Authority Form or Release of Security Form. Luckily, you can simply fill this out and hand it to your mortgage broker to handle.
If you are not using a mortgage, our discharge of mortgage page can explain to you the process of discharging your home loan.
If you’re planning to refinance, did you know that some lenders offer refinance rebates?
Please call us on 1300 889 743 or enquire online and one of our brokers can assist you in discharging from your current mortgage and refinancing with a new one.
) [2529] => stdClass Object ( [post_id] => 33688 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Our mortgage brokers specialise in mortgages for Australians in Europe and other Australian expats.
Choosing the right lender is the key to getting approved for a home loan. Because we have relationships with almost 50 different lenders all over Australia, we can help you find and apply with the right lender for your particular situation and needs.
You can speak with one of our experienced mortgage brokers by calling us on 1300 889 743 (+61 2 9194 1700 if you're overseas). You can also complete our free online assessment form and we'll get back to you within 24 hours.
[wbcr_snippet id="72210"] ) [2530] => stdClass Object ( [post_id] => 9506 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
We understand that it can be difficult for Internet Marketers to secure a home loan, but it is not impossible!
Our mortgage brokers know which lenders are more favourable to internet marketers and which one is best suited for your type of income. Call us on 1300 889 743 or enquire online and find out how we can help you obtain a mortgage!
) [2531] => stdClass Object ( [post_id] => 55107 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our mortgage brokers specialise in construction and renovation loans.
Talk to one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form.
) [2532] => stdClass Object ( [post_id] => 32408 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>It's best to renegotiate the rate of your home loan with your existing bank because it's easier to do. We can do this for you with a couple of phone calls.
When we request better pricing on your home loan, banks will judge how likely you are to leave. Based on that, they will either slash your interest rate and get you a better deal or you will actually have to refinance to another bank.
Note that you may no longer have a competitive interest rate if it's been two to three years since you've taken out a home loan or had your rate renegotiated.
You could save on your loyalty tax by shopping around and renegotiating with your lender.
By securing a more competitive interest rate, you automatically save thousands over the loan term and pay your mortgage faster.
Our mortgage brokers specialise in refinancing home loans. We have relationships with over 50 lenders all over Australia and we know which ones can offer sharp interest rates.
You can discuss your personal situation and loan needs with one of our credit specialists by calling us on 1300 889 743. You can also complete our online assessment form to receive a free quote within 24 hours.
) [2533] => stdClass Object ( [post_id] => 53153 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Before moving forward with buying a property, here are some tips you need to follow.
Whether you’re a seasoned investor or buying your first home, our mortgage brokers are here to help get the best home loan for your situation.
Call us on 1300 889 743 or fill in our no-obligation assessment form.
) [2534] => stdClass Object ( [post_id] => 35373 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Please call us on 1300 889 743 or fill in our online enquiry form to speak to a specialist business mortgage broker today.
) [2535] => stdClass Object ( [post_id] => 226 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our mortgage brokers know which Lenders Mortgage Insurers are the cheapest. Some lenders offer special LMI in an attempt to gain additional market share. Most often these LMI specials are not advertised to the public.
Enquire online or call us on 1300 889 743 to discuss your situation with one of our mortgage brokers.
[wbcr_snippet id="75969"] ) [2536] => stdClass Object ( [post_id] => 3526 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Whilst some lenders have stricter lending criteria and offer expensive interest rates, we know of major banks that offer great rates and competitive loan packages.
If you are a recent immigrant to Australia or are thinking of migrating and would like to get a loan with cheap interest rates please call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or enquire online and we can help you get approval.
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When building your real estate portfolio, having a good mortgage strategy is just as important as having a good property investment strategy.
As we’ve mentioned above, having a current mortgage with someone else can seriously affect your borrowing power if you decide to buy real estate on your own.
Because there are less than a handful lenders that offer a common debt reducer as a solution, that means there is less opportunity to shop around and get a great interest rate.
It also means you won’t be able to spread your risk across multiple lenders so you avoid exceeding mortgage exposure limits.
Want to keep building your investment portfolio?
Call us on 1300 889 743 or complete our free assessment form to discuss your situation with one of our specialist mortgage brokers.
We can tell you if you qualify for a common debt reducer home loan and also help you build a good mortgage strategy for your investment portfolio.
[wbcr_snippet id="72391"] ) [2538] => stdClass Object ( [post_id] => 24606 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>There are two main home loan packages in Australia.
Basic package
Professional package
Not sure how to answer all of these questions?
A mortgage broker can actually guide you through all of this and ensure that you’re getting the right home loan to best fit your situation.
Please call 1300 889 743 or fill in our free assessment form today.
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Unsure which lender is correct for you?
Our mortgage brokers will first discuss your situation, complete a pre-assessment and then recommend a couple of suitable lender options for you from our panel of almost 40 lenders.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2540] => stdClass Object ( [post_id] => 66668 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>We specialise in SMSF loans. Get in touch with us to learn more!
Speak with a Home Loans Experts specialist mortgage broker by giving us a call on 1300 889 743 or by filling in our short online assessment form to find out if you qualify for an SMSF loan with competitive interest rates.
) [2541] => stdClass Object ( [post_id] => 47340 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Many lenders pulled out of the SMSF market entirely in 2018 and those that do operate in this space assess applications via their commercial or business banking department.
This means there can be huge differences in how much lenders will allow you to borrow and how much they will charge you in term of interest rates and fees.
We can help you compare SMSF loan options or even help you refinance your current SMSF loan if you've already been knocked back.
There are SMSF lending solutions, and we know where to find them.
Please call us on 1300 889 743 or fill in our free assessment form to speak with one of our expert mortgage brokers today.
We understand complex SMSF loan structures, such as purchasing property via your trust to reduce your tax bill, for asset protection purposes or to other otherwise rapidly grow your retirement savings through property investment.
) [2542] => stdClass Object ( [post_id] => 72022 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If your employment is secure and you’ve got surplus funds, rising rates may be a buying opportunity for you. Many of our customers are getting pre-approved and reaping the benefits of rising rates by purchasing property as first-home buyers in a falling market.
Call us on 1300 889 743 or enquire online today, and we’ll assist you in finding a lender with a deal that suits your requirements and situation.
) [2543] => stdClass Object ( [post_id] => 52085 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our mortgage brokers are experts at finding you a perfect match when it comes to lenders. If there’s a right lender for you, with their incredible industry expertise, they will find it.
Speak to one of our mortgage brokers by calling 1300 889 743 or by filling in our online-assessment form today.
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It is a common misconception that it is cheaper to get a loan on your own than using the help of a mortgage broker. In fact, you can usually get the services of a mortgage broker free. Many mortgage brokers work on a commission basis with banks and lending institutions and you don’t have to spend a penny on them.
A mortgage broker knows which lender is most suitable for your circumstances and will direct you towards the best mortgage option for you. If you are lucky, the brokers might be able to get lenders to waive various expenses, such as application and origination fees, based on their long-term relationships with banks. This can make your home loan process faster and easier, as well as saving you thousands of dollars!
If you are looking to enquire about your home loan options, call us at 1300 889 743 or fill in our free enquiry form to speak to one of our Home Loan Experts mortgage brokers.
) [2545] => stdClass Object ( [post_id] => 382 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>An agency worker is someone who's hired on a temporarily. They generally go through an intermediary such as a recruitment agency.
The employer will pay the recruitment agency, who'll then pay the agent/temporary worker, a salary or wage.
There's generally a large number of temporary or temp staffing jobs across many fields, including:
If you're an agency worker and are looking to finance a home, investment or construction project, please fill in our free assessment form or contact us on 1300 889 743.
Our team of specialists can help you apply with the right lender who can approve you the first time round!
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For any legal advice, we highly recommend you get in touch with a trusted solicitor. They will help you understand the full implications of the guarantee and advise you accordingly. To discuss any more details about the guarantor loan, you can call us on 1300 889 743 or complete our free online assessment form and find out if being a guarantor is right for you.
) [2547] => stdClass Object ( [post_id] => 21152 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Take a look at our home buyer centre for more tips and resources including our LMI Calculator. Also, look like you know what you’re doing by reading up on common real estate terminology.
Once you’re ready to buy a home, call us on 1300 889 743 or fill out our free assessment form to find out if you can qualify for a home loan.
) [2548] => stdClass Object ( [post_id] => 31500 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Do you need a pharmacy loan to get your business dreams off the ground?
Stop dreaming and speak with one of our pharmacy loan specialists today on 1300 889 743 or by completing our online assessment form.
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If you're unsure whether the tax-free benefits you receive from your job will be accepted by the bank, call us on 1300 889 743 or complete our online enquiry form to discover whether you qualify for a stipend mortgage.
We know lenders that will accept 100% of this income so you can increase your borrowing power and buy the property you have your heart set on.
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At Home Loan Experts, our mortgage experts are seasoned property investors. We know that for you, it’s more than just the interest rates. We understand the limiting factors for investors:
Overall, a mortgage broker understands your long-term goals and focuses on all factors to get you the right investment loan for your strategy. We’re here to help. Call Home Loan Experts on 1300 889 743 or complete our free online assessment form today.
) [2551] => stdClass Object ( [post_id] => 6070 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Please call us on 1300 889 743 or enquire online for a current copy of the application form for your state.
When you fill in the application form please do the following:
The form must be witnessed by someone over the age of 18 (must not be a family member). If you and your partner are applying together then you cannot witness each other's signature. The witness must clearly write down their full name including any middle names and residential address (PO Boxes are not acceptable).
If you are using us as your mortgage broker then please mail this form back to us along with your supporting documents.
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Are you an Aussie expat or a foreign citizen that needs a home loan?
We can help you qualify for a mortgage to buy property in Australia.
Lending rules have become stricter for non-resident borrowers so speak with a specialist today.
Call us on 1300 889 743 or complete our free assessment form.
[wbcr_snippet id="74970"] ) [2553] => stdClass Object ( [post_id] => 441 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>To find out how we can help, contact us on 1300 889 743 or enquire online today!
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After acquiring a property investment, Here are some ways to build wealth – or save on expenses – apart from rental income.
1. Capitalise On Long-Term Property Appreciation
Property values tend to increase over time, allowing you to gain equity and build wealth. Choose properties in areas with strong growth potential and hold onto them for an extended period to benefit from long-term appreciation.
2. Unlock Equity
By tapping into the accumulated equity of your existing property, you can access funds to purchase additional properties and expand your portfolio. This can lead to increased rental income, potential capital appreciation, and tax advantages. However, it's important to carefully consider market conditions and seek professional advice to ensure this strategy aligns with your financial goals.
Seize the opportunity to unlock equity and boost your investment potential! Contact us at 1300 889 743 or fill out our free online assessment form and let our team of experts guide you through securing an equity loan.
3. Negative And Positive Gearing
A positively geared property is one where the rental income exceeds the expenses associated with the property, such as mortgage repayments, maintenance costs, and property management fees. On the other hand, a negatively geared property is one where the rental income is lower than the total cost of ownership.
Both positive gearing and negative gearing have their advantages and considerations. Positive gearing provides immediate cashflow, while negative gearing can offer tax advantages and help you access potential capital gains in the future.
4. Capitalise On Tax Deductions
There are a number of investment property tax deductions that you can claim in Australia. These can include:
The specific deductions that you can claim will depend on your individual circumstances and the type of property you own. For example, if you own a rental property, you can claim deductions for mortgage interest, repairs and maintenance, and depreciation. However, if you own a holiday home, you can only claim deductions for repairs and maintenance. Consult with a tax professional to understand the specific advantages in your jurisdiction.
5. Diversify Your Portfolio
Instead of investing in a single property, consider spreading your investments across various locations and property types to mitigate risks and optimise wealth-building potential. Diversification provides stability and safeguards against market fluctuations.
6. Collaborate Through Joint Ventures And Partnerships
Partnering with other investors can unlock access to larger and more profitable property investments. By pooling resources, knowledge, and skills, you can take on bigger projects and diversify your portfolio effectively.
7. Real Estate Investment Trusts (REITs)
REITs are investment vehicles that allow individuals to invest in real estate without directly owning and managing properties. By investing in REITs, individuals can earn passive income through dividends paid out by these trusts, which typically own and operate income-generating properties. REITs allow individuals to diversify their real-estate investments, access potentially higher returns, and benefit from professional management expertise. stdClass Object ( [post_id] => 32764 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [2556] => stdClass Object ( [post_id] => 41380 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Even though you earn an income in a currency that isn't Australian dollars, we recommend you avoid foreign current mortgages if you can.
Although the interest rate is usually lower, the big risk is if exchange rates move.
A fall could see you having to provide more security for your mortgage or pay down your loan to a level that the bank finds acceptable.
One of Australia's major banks, Westpac nearly went under in 1992 because of these loans.
Our mortgage brokers have untangled the mess involved in getting approved for an overseas borrower mortgage.
Call us on 1300 889 743 ( +61 2 9194 1700 if you're calling from overseas) or complete our online assessment form to find out if you qualify for a loan.
) [2557] => stdClass Object ( [post_id] => 7630 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>A variety of major banks and non-conforming lenders have interest only loans with advance payment options, including:
If you would like to find out which lender on our panel can offer you the best loan and the most competitive interest rates, please speak to us on 1300 889 743 or enquire online and one of our mortgage brokers will get in touch with you.
) [2558] => stdClass Object ( [post_id] => 67457 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>It’s not uncommon for mortgage brokers to negotiate with the bank before submitting a loan application. With years of experience working with ANZ, mortgage brokers at Home Loan Experts know how to strengthen your refinance application when submitting it to the bank.
Depending on the size of your loan, size of your deposit and other factors, you may be able to get a better deal than ANZ has advertised, saving you thousands of dollars over the loan term.
When the time is right for you to refinance, Home Loan Experts will ask for pricing from more than one bank, so you can get the deal that suits your needs most. We can also help you decide on various additional features, such as offset accounts, redraw facilities and extra repayments.
Going to a bank directly seems like a good idea, but in most cases, it takes up too much of your time and energy. Our mortgage broker will take all of that off your plate for free! All you need to do is give us a call on 1300 889 743 or fill in our free online assessment form, and we will get back to you right away to discuss your options with you.
[wbcr_snippet id="72043"] ) [2559] => stdClass Object ( [post_id] => 69706 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>At Home Loan Experts, we value your time. When you apply for a home loan with us, we will help you:
Call us on 1300 889 743 or enquire online today.
) [2560] => stdClass Object ( [post_id] => 33021 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>No one can predict the future but it's always best to make an educated decision on when to buy and when it's time to sell.
Do you need a commercial property loan?
Call us on 1300 889 743 or complete our free assessment form to speak with one of our commercial loan specialists.
) [2561] => stdClass Object ( [post_id] => 49968 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Generally, a typical single borrower earning $180,000 p.a. with no existing debt (for simplicity) can borrow up to $1,204,433.
However, the serviceability (borrowing power) calculation is stricter than usual with this home loan due to the shorter loan term as well as the high assessment rate used.
Under this structure, the same borrower is only able to borrow up to $918,504. That's a difference of over $300,000 in the borrowing power.
Similarly, your repayments are also higher due to the accelerated repayment schedule of the second mortgage (the shorter term on the split portion or 20%).
The home loan is designed this way to enable you to pay down 20% as quickly as possible and build up your equity.
For a full breakdown of 'how much you can borrow' as well as a full repayment schedule, please give us a call on 1300 889 743 or fill in our online assessment form.
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An agribusiness line of credit is a short-term cash flow solution but if you need farming equipment and want to preserve your working capital then equipment finance may be what you need.
Having the right vehicles and plant machinery is just as crucial to your farm's growth and sustainability as cash flow.
Call us on 1300 889 743 and we can help you put together a strong case with the right lender so you can finance the purchase of everything from tractors and harvesters to machinery for your workshop.
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All lenders have their own methods to calculate your investment property borrowing power.
Their methods vary in the way they assess your income and expenses, as well as the way they display your results.
There are three methods that lenders use to calculate your serviceability, which include:
Net Surplus Ratio (NSR)
The NSR establishes the number of times your income can cover your expenses by determining your current debt, proposed debt and living expenses. A NSR can be calculated as:
After Tax Monthly Income – Total Monthly Living Expenses / (Total Monthly Commitments)
Debt Servicing Ratio (DSR)
The DSR is based on the assumption that a third of your income will go to tax, a third to living expenses and the remainder of your income can be used to pay for your mortgage.
This method is quite simple and fails to take into account negative gearing benefits and living expenses. This makes it very inaccurate and, hence, is now rarely used.
Surplus / Uncommitted Monthly Income (UMI)
The UMI is your available income after deducting all monthly expenses from your gross monthly income. This also includes your loan repayments.
Among these, lenders used to rely on DSR the most. However, because of its over simplicity and inaccuracy (especially when dealing with property investors), it has been ruled out by most lenders.
Speak with one of our brokers on 1300 889 743 or fill in our free online assessment form to get a better idea of these methods and to figure out if an investment loan is the right option for you.
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We are experts in lending to medical professionals. We know which lenders offer the best deals for speech pathologists, with significantly reduced interest rates and fee waivers.
Call us on 1300 889 743 or enquire online to see if you qualify.
[wbcr_html_snippet id="73985"] [wbcr_snippet id="74203"] ) [2565] => stdClass Object ( [post_id] => 7020 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Examples include houses that are built around trees, former commercial properties that have been converted and houses that have spaces or large areas which were originally built to serve a custom purpose.
Often the people that purchase these homes have to make improvements and minor renovations to them, in order to make them liveable. However, not all unique homes require these alterations.
Some have all the features necessary to move straight in, but are simply of limited market appeal. If you have found a unique home that you are interested in please call us on 1300 889 743 or enquire online and we can tell you whether the banks will accept your security type.
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The lender will charge you a fee known as LMI if you borrow over 80% of the property value. LMI can be huge and works out to be around $22,275 for a 90% loan on a $900,000 property.
One of our lenders can consider waiving LMI for geologists and geophysicists if they meet certain criteria:
We'll let you know if you qualify for no lmi!
Speak to our mortgage brokers by calling 1300 889 743 or fill in our free assessment form to find out if you can qualify for a professional discount.
) [2567] => stdClass Object ( [post_id] => 59833 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our mortgage brokers are here to help. They will carefully consider your requirements and provide you with ethical home loan options. Call us on 1300 889 743 or fill in our free assessment form.
[wbcr_snippet id="73153"] ) [2568] => stdClass Object ( [post_id] => 29276 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>As an Australian citizen living overseas, you're actually permitted to buy a new property, an existing property or vacant land. You can even buy a commercial property!
Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our online enquiry form to discuss your situation with one of our specialist mortgage brokers.
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Lenders Mortgage Insurance (LMI) is a one-off fee that's generally charged by the lender if you're borrowing more than 80% LVR (60% LVR for a low doc loan).
LMI can be thousands of dollars!
There's good news if you're an Australian expat working in a professional field in China!
Banks prefer lending money to particular professionals. Banks offer them significant interest rate discounts and even completely waive the cost of LMI!
The main professions eligible for waived LMI are:
Call 1300 889 743 (+61 2 9194 1700 if you're overseas) or complete our free online assessment form to find out if you qualify for waived LMI as an Australian expat in China.
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Did you know that some lenders will waive LMI or offer a discount?
These discounts are rare and there are often strict qualifying criteria.
The great news is that they are usually available for home loans that already have very low interest rates!
We have made agreements with some of our lenders to offer some specials to our customers.
You can view the current discounts available and qualifying criteria on our home loans with no LMI page.
There are special no-LMI discounts from various lenders.
The above list of lenders and lenders mortgage insurers aren't ordered this way in our calculator's results.
One or more major banks may be included depending on your search criteria.
If you'd like our help to find the lowest LMI premium then please call us on 1300 889 743 or fill in the details on our online assessment form.
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The big four banks in Australia have mortgage relief options for individuals and business owners.
These mortgage relief options are available if you're affected by the lockdown in Victoria:Not all banks and lenders will have a coronavirus specific relief package prepared. However, they still have standard policies in place to help those who are facing financial hardship for any reason.
You can consider the following if you’ve been impacted by the pandemic financially:Remember that lockdown restrictions and the provision of reliefs change regularly. Please check coronavirus.vic.gov.au website for more information on financial support for businesses and individuals.
Are you looking for home loan support or mortgage relief options during the lockdown? We are working from home and available to help you out. Reach Home Loan Experts on 1300 889 743 or complete our free online assessment form.
) [2572] => stdClass Object ( [post_id] => 44366 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for a home loan and what options are available to you.
) [2573] => stdClass Object ( [post_id] => 35368 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Please call us on 1300 889 743 or fill in our online enquiry form to speak to a specialist commercial mortgage broker today.
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Facing unexpected hurdles with your property plans? Don't let delays or setbacks stand in your way. Just like Alex and Jamie, you can overcome challenges with the right support.
Call us on 1300 889 743 or enquire online – it's free, and we’ll help you find the right solution.
) [2575] => stdClass Object ( [post_id] => 12416 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our expert mortgage brokers know how banks think and can help you improve your credit score! We also know lenders who don't use credit scoring!
To use our expert service, please enquire online or call us on 1300 889 743.
) [2576] => stdClass Object ( [post_id] => 66539 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => When you’re ready to refinance your mortgage, Home Loan Experts has everything you need for help with all aspects of the process:With prices soaring and speculation of tighter credit policies, it could be harder to qualify for a home loan in the future.
If you’re thinking of buying your first home or diversifying your property portfolio, talk to our mortgage brokers.
We can help you in your property buying journey and find you a home loan that matches your goals.
Call us on 1300 889 743 or enquire online.
) [2578] => stdClass Object ( [post_id] => 8258 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => By speaking to our mortgage brokers, you can find out which lender will assess your loan application in the most favourable light.This will ensure that you get your mortgage approved with competitive interest rates and attractive discounts. Speak to us today on 1300 889 743 or enquire online and one of our expert mortgage brokers will contact you to discuss your situation.[sg_popup id=65221] ) [2579] => stdClass Object ( [post_id] => 35156 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Call us on 1300 889 743 or complete our online enquiry form, and we can properly assess your situation. We can then match you with a lender that will accept different types of income in order for you to qualify for an SMSF loan.
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A majority of the businesses in Australia are small and run by families. So being employed by the immediate family is quite common.
However, most of the major lenders have a strict lending criteria that makes them perceive the income from this kind of employment as less favourable, particularly when an applicant receives a significant raise right ahead of applying for mortgage.
But our specialist brokers know their way around problematic circumstances like this.
If you have a similar or even more complicated issue like this, we may be able to help you find the right solution.
Please feel free to talk to one of our senior brokers by calling 1300 889 743 or by filling in our free online-assessment form today.
) [2581] => stdClass Object ( [post_id] => 13657 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our staff are professional mortgage brokers who have an in depth understanding of how the banks credit scoring systems work.
If you have applied for a home loan and have been declined because of your credit score, then please enquire online or give us a call on 1300 889 743 and we'll help you to get approved with another lender.
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If you’re not employed by the business you’re contracting to and are invoicing them instead, unfortunately, you’ve got to go through a few more hoops.
Most lenders require self-employed IT consultants to be in their current role for at least two years before they apply for a mortgage and supply two years tax returns as evidence.
We know lenders that take a much more common sense approach when it comes to the job stability of self-employed IT contractors and can rely on things like:
If your pay fluctuates significantly then you may also need to provide evidence of at least a 12 month employment history.
For one of our lenders, self-employed IT consultants are eligible to borrow up to 90% of the property purchase price if they:
Our mortgage brokers have a strong track record in getting home loan approvals for IT consultants thanks to strong relationships that we have with our panel of lenders.
Call us on 1300 889 743 or fill in our free assessment form to discuss your situation today.
) [2583] => stdClass Object ( [post_id] => 66989 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => Every year, over 100,000 first home buyers enter the market. The First Home Guarantee allows for 35,000 new places and an additional 10,000 places(over four years) under the Regional First Home Buyer Guarantee. If you want to snap up one of these places, you can apply for pre-approval with one of our participating lenders and book a spot for yourself. If you qualify, you’ll be notified of your Place ID when a place is reserved for you. Please lodge your tax returns for last year as soon as you can. This is necessary to obtain formal approval for your home loan. To apply and reserve your place, or to see if you qualify for any other offers of no LMI for first home buyers, give us a call on 1300 889 743 or fill in our free assessment form.
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How much is the extra tax?
An 8% stamp duty surcharge and a 4% land tax surcharge applies to property purchased in New South Wales.
In addition, foreign citizens are no longer entitled to the 12-month deferral on the payment of stamp duty for off-the-plan purchases of residential property.
Example
Before the 1 July 2017 change, you would have paid $31,490 in stamp duty on an $800,000 property.
You're now paying $95,767.60, which is a $64,000 increase.
When does it apply?
When doesn't it apply?
Can I avoid the duty?
There are some structures or other states in Australia where you may avoid or minimise the foreign citizen duty.
Permanent residents, NZ citizens, 309 visa, 820 visa, 405 visa, or 410 visa holders
Breaking down the 200-day exemption
The rules can be confusing for permanent residents in particular. What is the 200-day rule, and do you meet the requirements to avoid the additional stamp duty?
You must meet either of the following conditions:
Contact the NSW Office of State Revenue
We strongly recommend that you call the NSW OSR duties hotline at 1300 139 814 or +612 7808 6916 from outside Australia, or email duties@revenue.nsw.gov.au to discuss your situation.
If you need assistance with obtaining a home loan, you can contact our non-resident lending team at 1300 889 743 or +61 2 9194 1700 from outside Australia, or lodge an online enquiry.
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Here's how different scenarios might affect your borrowing capacity.
For a clear understanding of how these conditions might affect your monthly payments, we encourage you to explore your options further using our loan repayment calculator.
If you have any questions, feel free to call us on 1300 889 743 or complete our free online assessment form.
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Take the first step to unlocking the full potential of your property investments. Consult with a mortgage expert to align the results from the negative gearing calculator with your investment goals. Call us on 1300 889 743 or enquire online for free today!
) [2587] => stdClass Object ( [post_id] => 74625 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our mortgage brokers can assess your situation and work out the best home loan options for you. They’ll help you determine if you meet the First Home Buyers Choice scheme eligibility requirements and explain how annual property tax repayments may impact lender serviceability assessments.
They can also answer any questions you may have about the cost of stamp duty, property tax, or first home owner grants.
Speak to one of our specialist mortgage brokers today by calling us at 1300 889 743 or complete our free online assessment form to find out if you’re ready to buy.
) [2588] => stdClass Object ( [post_id] => 7339 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>We know which lenders will approve your loan despite the fact that you are on a temporary spouse visa.
If you are married to someone who has permanent status in Australia, the risk to the lender is reduced and banks may be more inclined to lend to you.
To find a lender that will accept your situation contact us on 1300 889 743 or enquire online. Our expert team of mortgage brokers can help you get approval!
) [2589] => stdClass Object ( [post_id] => 15433 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>How to choose the right loan?
While interest rates are important, there is more to choosing a loan than just the rate.
Bank know that almost everyone compares interest rates, however few people compare the LMI premium or the terms & conditions of their home loan. You can use our LMI calculator to see just how large the difference between the banks can be.
Of course if you need some help then you can call us on 1300 889 743 or enquire online and one of our mortgage brokers will help you to find the cheapest loan available.
) [2590] => stdClass Object ( [post_id] => 31195 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Get professional advice from a legal advisor
It's essential that you speak with your credit provider or lender to learn about the latest interest rates and discounts available. If you need help finding a suitable lender that can help you meet your financial goals, then it's recommended that you speak with a mortgage broker. Our mortgage brokers are experienced at getting tough home loan situations approved! Speak with one of them on 1300 889 743 or fill in our free online assessment form to find out which lender is right for your situation.) [2591] => stdClass Object ( [post_id] => 1485 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Paid maternity leave is viewed more favourably by the banks. The problem most people face is that often you may only be paid half of your normal salary while on leave, and so most lenders won't assess your loan based on your normal salary.
Unpaid maternity leave is treated by almost all banks as if you were unemployed! Even if you have a set date to return to work, many will still not approve your loan until you're actually back at your job.
Luckily, not every lender views unpaid leave that way. To find out which lender will approve your mortgage, contact our expert mortgage brokers on 1300 889 743 or fill in our free assessment form today.
) [2592] => stdClass Object ( [post_id] => 3144 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
QBE's Location Guide has a similar breakdown of postcodes and risk as Helia but there are fewer categories and no high-density postcodes.
Metro areas and regional areas are acceptable as long as the loan isn't too large while other areas are on a case-by-case basis.
QBE defines property as being high-density based on the size of the block of units, not because of the postcode. Please refer to our inner city apartments page for more information.
Call us on 1300 889 743 or fill in our online enquiry form to get started on your property buying journey today.
) [2593] => stdClass Object ( [post_id] => 41582 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our mortgage brokers will compare premiums from several lenders to ensure you get the lowest possible premium.
Please call us on 1300 889 743 or fill in our online enquiry form to discover which strategy is right for you to avoid mortgage insurance.
) [2594] => stdClass Object ( [post_id] => 1357 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => A deposit paid to a builder, developer or real estate agent is considered genuine savings by some lenders as long as the:) [2595] => stdClass Object ( [post_id] => 2682 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Our home loan calculators are designed as a guide only, for more precise figures and/or advice, please enquire online or contact us on 1300 889 743 to speak to one of our mortgage brokers.
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If the SMSF is able to stand on its own with enough liquidity in the fund, then the lender may waive the personal guarantee requirement.
For example, if you buy a commercial property for $800,000 and you put in $500,000 as a deposit and earn $50,000 a year in rent, the cash flow in this transaction is strong enough that the lender may not need a personal guarantee from you.
That's because the Loan to Value Ratio (LVR) or the amount you're borrowing compared to purchase price is 37.5% (not including the costs of completing the purchase).
With just a $300,000 loan amount at a 7.00% interest rate, your annual repayment is just $21,000.
This means the rental amount is more than sufficient enough to cover the loan repayment and still have a huge buffer leftover.
Despite this, the decision to waive the personal guarantee requirement depends on the lender.
We can help you find a lender that doesn't require you to provide a personal guarantee for an LRBA loan!
Home Loan Experts has a wide variety of lenders to choose from and credit expertise in SMSF and LRBA lending.
Call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify for a limited recourse loan.
) [2597] => stdClass Object ( [post_id] => 48323 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
You can apply directly with a participating lender or take the help of a Home Loan Experts’ mortgage broker to help you.
Note: Housing Australia will not accept direct applications.
Here's how you can move forward:
As accredited mortgage brokers, Home Loan Experts can help you reserve your place, subject to availability. To apply and reserve a slot in the First Home Guarantee, please give us a call at 1300 889 743 or fill in our free online assessment form today.
What If The First-Home Buyers Scheme Places Are Exhausted?
If scheme places have been exhausted, but you’re eligible, you can still submit a reservation request, and you’ll be added to the waitlist.
When and if a Scheme place becomes available, you will be advised.
) [2598] => stdClass Object ( [post_id] => 71307 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Let our Home Loan Experts navigate the requirements of the scheme for you. We’ll sort out whether you qualify. Call us on 1300 889 743or fill in our free assessment form today.
) [2599] => stdClass Object ( [post_id] => 236 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
We are specialists in low doc finance and can help you find the right lender.
Call us on 1300 889 743 or enquire online and send us your details. We will be in touch with a few competitive quotes that can help you finance your investment.
[wbcr_snippet id="75964"] ) [2600] => stdClass Object ( [post_id] => 64151 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Take the next step towards your dream of owning a home by making confident decisions and owning your plan.
Sign Up For The Home Buyers Course Today!To speak with one of our mortgage brokers, call 1300 889 743 or complete our free no-obligation assessment form .
) [2601] => stdClass Object ( [post_id] => 71342 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Home Loan Experts can help. Our mortgage brokers know how to get you the best rate in a rising market or refinance to keep your home loan competitive. Call 1300 889 743 or enquire online to speak to one of our expert brokers today!
) [2602] => stdClass Object ( [post_id] => 78554 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] => If you want to know more about how the federal budget affects you or want to take advantage of the Home Guarantee Scheme, our expert mortgage brokers are here to help. Call us on 1300 889 743 or fill in our free online assessment form and we’ll get back to you! ) [2603] => stdClass Object ( [post_id] => 3694 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>It helps to get advice from a mortgage broker that specialises in hobby farms before deciding to apply for a home loan.
They can help build a case that addresses the bank's requirements on land size, location and how much income may be generated from the operation.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers who specialises in hobby farms can help you to apply for a home loan.
What should I look out for in a hobby farm?
Check that the land is suitable for what you're planning to use it for
This can include fertile soil for growing produce and, for the purposes of caring for animals, fields for grazing and clear access to water sources, such as ponds and lakes.
If you're buying vacant land then check with council to confirm that you are allowed to build a dwelling on the property.
Check with council regarding zoning and infrastructure projects
Zoning changes all of the time and planned or ongoing infrastructure or commercial projects can have a major affect on your ability to run a hobby farm. For example, a new motorway can affect the peace and quiet that you were after in the first place, while, from a practical perspective, a new mining or gas project can have a massive effect on the health of the surrounding environment and your ability to grow produce.
In terms of actually getting approved for a hobby farm loan, did you know that there are lending restrictions on bushfire prone properties, many of which are located in the same rural areas as lifestyle farms?
Check that you're getting what you pay for
Sometimes the farm will come with everything you need including built-in stables or houses for animals, troughs, feeding dispensers and fences. That’s great but it also means you have to ensure that you're getting what you pay for, that is, making sure all of the amenities are in good condition and to code.
Legal requirements
Be aware of local council restrictions as well as state and federal laws and licensing requirements regarding the use of land and owning farm stock.
For more resources and tips on lifestyle farms, go to farmstyle.com.au.
What do the banks assess?
Hobby farms can be assessed in several ways by our banks, depending on the location and the size of the property.
Land size: There is technically no maximum land size. However, to qualify with most banks the land must be less than 10ha. Some banks can consider up to 50ha and one can consider any size land as long as the property is not being used for business or income-producing purposes.
Banks are likely to be very conservative with properties over 200 hectares.
Location: Each lender has their own postcode restrictions. At least two of our lenders have no postcode restrictions at all, although, remote properties will always be difficult to finance.
Access: The land must have easy access using an all-weather road. Dirt roads are fine as long as they are well maintained.
Services: The land must be within range to be connected to the electricity grid without excessive costs or have solar power. Town water and sewerage services aren't required as many Australian properties have tank water or septic tanks instead. Fully-serviced and partially-serviced blocks are both acceptable.
Zoning: Land can be zoned rural, rural residential or the equivalent for your state. Be careful with land that is zoned industrial, commercial or for farm use as they are generally not accepted or may be considered as a commercial farm unless it's clear they can't be used as a home. A good rule of thumb is that if the land you are buying is subject to GST then it would be considered as a commercial property by the banks.
Land use: The land can only be used for personal or investment purposes, not as a commercial farm. Hobby farms with minor farm improvements and that don't produce income from farm production are usually accepted.
Why are the banks so conservative?
During times of drought or during economic downturns, farms tends to fall in value and take longer to sell. This is particularly true in country areas and remote locations where land prices fluctuate more often.
Normal houses on the other hand have more potential buyers and so tend to sell much faster.
Because of this higher volatility, banks tend to be more conservative when approving a home loan for hobby farms.
In addition to this, banks consider commercial farms to be businesses, not a lifestyle purchase so they can only be considered for more expensive commercial loans and business loans.
[wbcr_snippet id="73312"] ) [2604] => stdClass Object ( [post_id] => 97235 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Rental yield is more than a number – it’s a gateway to smarter investments and long-term financial security. At Home Loan Experts, we’re passionate about helping you succeed, whether you’re new to property investment or refining your strategy. Contact us today on 1300 889 743 or fill out our free online assessment form. We’ll help you make confident, well-informed choices.
) [2605] => stdClass Object ( [post_id] => 77006 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>While downsizing is a major decision, you don't have to do it alone. Our team of experts is available to assist you if you require a bridging loan or guidance on your alternatives.
We also have lenders in our panel who lend to people over 50. Call us on 1300 889 743 or fill in our free online assessment form, and we will contact you.
) [2606] => stdClass Object ( [post_id] => 3409 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Please enquire online for free or dial 1300 889 743 to speak to one of our mortgage brokers who specialises in releasing cash out with a home equity loan.
) [2607] => stdClass Object ( [post_id] => 54939 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>To find out, speak with one of our specialist mortgage brokers who are up to date on all current offers from our panel of lenders.
Call us on 1300 889 743 or fill in our online assessment form.
) [2608] => stdClass Object ( [post_id] => 29422 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our mortgage brokers specialise in helping Australian expats in the UK apply for a home loan in Australia.
Choosing the right lender is extremely important. Since we have relationships with almost 50 different lenders, we can help you find the right lender for your situation.
Most of the time, we can negotiate a great price as well!
Home Loan Experts is a winner of various industry and consumer awards and we receive regular coverage in the media as an authority in the mortgage industry.
Speak with us today by calling 1300 889 743 (+61 2 9194 1700 from outside of Australia). Better yet, complete our free assessment form and one of our credit specialists will contact you to discuss your situation.
Discover if you qualify for a home loan for Australian expats in the UK!
[wbcr_snippet id="72203"] ) [2609] => stdClass Object ( [post_id] => 98030 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If you’re not employed by the business you’re contracting to and are invoicing them instead, unfortunately, you’ve got to go through a few more hoops.
Most lenders require self-employed IT consultants to be in their current role for at least two years before they apply for a mortgage and supply two years tax returns as evidence.
We know lenders that take a much more common sense approach when it comes to the job stability of self-employed IT contractors and can rely on things like:
If your pay fluctuates significantly then you may also need to provide evidence of at least a 12 month employment history.
For one of our lenders, self-employed IT consultants are eligible to borrow up to 90% of the property purchase price if they:
Our mortgage brokers have a strong track record in getting home loan approvals for IT consultants thanks to strong relationships that we have with our panel of lenders.
Call us on 1300 889 743 or fill in our free assessment form to discuss your situation today.
) [2610] => stdClass Object ( [post_id] => 98035 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
Take the first step to unlocking the full potential of your property investments. Consult with a mortgage expert to align the results from the negative gearing calculator with your investment goals. Call us on 1300 889 743 or enquire online for free today!
) [2611] => stdClass Object ( [post_id] => 98041 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>How to choose the right loan?
While interest rates are important, there is more to choosing a loan than just the rate.
Bank know that almost everyone compares interest rates, however few people compare the LMI premium or the terms & conditions of their home loan. You can use our LMI calculator to see just how large the difference between the banks can be.
Of course if you need some help then you can call us on 1300 889 743 or enquire online and one of our mortgage brokers will help you to find the cheapest loan available.
) [2612] => stdClass Object ( [post_id] => 98042 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
How to choose the right loan?
While interest rates are important, there is more to choosing a loan than just the rate.
Bank know that almost everyone compares interest rates, however few people compare the LMI premium or the terms & conditions of their home loan. You can use our LMI calculator to see just how large the difference between the banks can be.
Of course if you need some help then you can call us on 1300 889 743 or enquire online and one of our mortgage brokers will help you to find the cheapest loan available.
) [2613] => stdClass Object ( [post_id] => 98069 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
While downsizing is a major decision, you don't have to do it alone. Our team of experts is available to assist you if you require a bridging loan or guidance on your alternatives.
We also have lenders in our panel who lend to people over 50. Call us on 1300 889 743 or fill in our free online assessment form, and we will contact you.
) [2614] => stdClass Object ( [post_id] => 98074 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>It's important to consider the pros and cons of buying property in a high-interest-rate market and to take a long-term perspective when making a decision.
Call us on 1300 889 743 or enquire for free online today, and we’ll assist you with any help you require with purchasing your dream home.
) [2615] => stdClass Object ( [post_id] => 98085 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>Our mortgage brokers can assess your situation and work out the best home loan options for you. They’ll help you determine if you meet the First Home Buyers Choice scheme eligibility requirements and explain how annual property tax repayments may impact lender serviceability assessments.
They can also answer any questions you may have about the cost of stamp duty, property tax, or first home owner grants.
Speak to one of our specialist mortgage brokers today by calling us at 1300 889 743 or complete our free online assessment form to find out if you’re ready to buy.
) [2616] => stdClass Object ( [post_id] => 98098 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>How Can You Stay On Top Of Interest Rate Changes?
As mentioned above, the RBA decides on the first Tuesday of every month (except January) whether to change the cash rate. You can check the RBA’s latest cash rate here. You can even contact your broker or lender to learn of any forthcoming changes to the interest rate, so you can make an informed decision.
How To Get The Lowest Interest Rate For Your Home Loan
With the information above, you are ready to make informed decisions when your interest rate changes. Remember, countering changes in the interest rate can save you literally thousands of dollars on your repayments.
This is where our specialist mortgage brokers can help. By scouring dozens of lenders, we can help shape the perfect home loan for you.
To get started on the search for your dream home, please give us a call on 1300 889 743 or fill in our online assessment form.
) [2617] => stdClass Object ( [post_id] => 98118 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>How To Find A Private Mortgage Lender
) [2620] => stdClass Object ( [post_id] => 98176 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>
As mortgage brokers, we can't assist you with buying a property but we can help you get approved for a home loan.
We also have a number of free resources that you can access on the ebooks page such as negotiating at auction and what to look for when inspecting a property.
If you need a home loan to make your property ownership dreams a reality, call us on 1300 889 743 or complete our free assessment form today to speak with a mortgage broker.
) [2621] => stdClass Object ( [post_id] => 98183 [meta_key] => add_site_layouts_7_post_editor_option [meta_value] =>If you’re planning on refinancing your home loan, you will need to notify your current lender that the mortgage they hold is going to be discharged and that your loan will be repaid.
In most cases, you will need to fill in a Discharge Authority Form or Release of Security Form. Luckily, you can simply fill this out and hand it to your mortgage broker to handle.
If you are not using a mortgage, our discharge of mortgage page can explain to you the process of discharging your home loan.
If you’re planning to refinance, did you know that some lenders offer refinance rebates?
Please call us on 1300 889 743 or enquire online and one of our brokers can assist you in discharging from your current mortgage and refinancing with a new one.
) [2622] => stdClass Object ( [post_id] => 50594 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Whether you’re looking to buy new or old, we can usually help you get approved for a mortgage to buy one.
Speak with one of our specialist mortgage brokers today by giving us a call on 1300 889 743 or by filling in our short no-obligation assessment.
[wbcr_snippet id="72740"] ) [2623] => stdClass Object ( [post_id] => 5756 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>As with any mortgage application, if the bank valuation comes in low, then the loan may be declined. This means that you may be unable to complete your divorce settlement and successfully divide the property. So how can you control the bank valuation?The simple answer is that you can’t. However, as a mortgage broker, we have the ability to order valuations with several lenders before submitting a full application.You can then apply with the lender that has the most favourable valuation.
In the past, the only way to obtain multiple valuations was to put in multiple applications at the one time.If you were to do so nowadays, you’d most likely fail credit scoring for all the lenders that you applied with due to the high number of enquiries on your credit file.As such, your loan application would ultimately be declined.
Please call us on 1300 889 743 or enquire online to find out how we can help you obtain an upfront bank valuation.
) [2624] => stdClass Object ( [post_id] => 28205 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Good news if your business involves contract work
If you’re a sole trader and the majority of your business involves contract or subcontractor work, some lenders may consider you to be an employee which means mean you’ll be in a better position to get approved for a home loan with a wider variety lenders. You may also be able to get a really competitive interest rate.Can I take out a business loan?
Yes, sole traders may qualify for a business loan but the interest rates for a commercial loan tend to be higher than the interest rates for a home loan. If you’re buying a residential property for a business then you can avoid these higher costs by choosing a lender that doesn’t refer you to their business banking department. For more information on sole trader business loans, please contact us on 1300 889 743 or fill in our free assessment form.) [2625] => stdClass Object ( [post_id] => 27590 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
When running a business, you will incur expenses which you can document in order to reduce your taxable income.
Some lenders can actually add back these expenses because they understand are not a “real” expense or ongoing commitment.
By adding back expenses you can increase your assessable income and your borrowing power!
Some examples of add backs are:
If you're a business owner in need of a home loan, please call us on 1300 889 743 so we properly assess your situation and get you a great deal based on your business circumstances and needs.
) [2626] => stdClass Object ( [post_id] => 30233 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
An investment loan is for people who want to invest in property but don’t have sufficient funds.
Investors are generally professionals who earn high taxable incomes and are in a very strong financial position.
Basically, a 95% investment loan is suitable for you if you’re well off financially and you’ve either learned about property investment or are already building your property portfolio.
If you’re in a poor financial position, an investment loan isn’t the right option for you as these loans are rather expensive with little or no return on your investment.
Give us a call on 1300 889 743 or fill in our free online assessment form to speak with one of our mortgage brokers about your options.
) [2627] => stdClass Object ( [post_id] => 1057 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
If you need the services of a mortgage broker to help get your loan approved then why not talk to us at the Home Loan Experts?
Please call us on 1300 889 743 or enquire online to speak to one of our experienced brokers.
) [2628] => stdClass Object ( [post_id] => 37484 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you've spoken to a mortgage broker recently or even your own bank, they may have told you that you can only borrow up to 80% of the property value as a temporary worker.
Not all lenders are the same and most brokers don't have experience working with temporary residents.
Luckily, we're experts in getting mortgages approved for temporary residents, foreign citizens and other non-residents.
We've even made special arrangements with our lenders so you can borrow up to 90% of the property value.
What that means for you is a smaller deposit!
To explain, you’ll typically need around 18% of the purchase price to cover the deposit, stamp duty (state government tax) and LMI, a one off fee charged when borrowing over 80% of the property value.
So for a $600,000 property, you'll need around $108,000 to cover the deposit and all of the purchase costs.
If you were to borrow at 80%, you'd need around $168,000 or $60,000 more!
Call 1300 889 743 or complete our free assessment form to find out how much you can borrow.
) [2629] => stdClass Object ( [post_id] => 47071 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => A town planner can assist you through the application process and help you comply with the local assessment requirements. Town planners often liaise with local councils on a regular basis so they tend to have a clear idea whether the changes you’ve requested will be accepted or not. They can give you a good indication of your chances of success before you spend considerable time and money pursuing it. Hiring a town planner is done on a consultation basis where the town planner charges by the hour. While they can be helpful, they can also be costly.
Real-life examples of property rezoning
Rezoning multiple units on one title
When rezoning changes were announced for properties on the north of Derby Street in Penrith, property values doubled overnight. Specifically, it allowed for six-storey blocks to be constructed, up from two-storey blocks. This increased the value of these properties from an average of $600,000 to $1 million. Another example is in Sydney’s inner west, where a 1,000 square metre block of land was rezoned from industrial to eight-storey apartments. This saw the land value increase from $2 million to $10.7 million. Do you need a loan to buy multiple units on one title? Speak with one of our specialist mortgage brokers by calling us on 1300 889 743 or by completing our free assessment form. ) [2630] => stdClass Object ( [post_id] => 48299 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Speak with one of our specialist mortgage brokers for expert advice on equity loans by giving us a call
on 1300 889 743 or enquire with us online.
We're committed to complying with all regulatory legislation and we endeavour to find our customers the best loan product available. We appreciate any comments, compliments or complaints you may have that can help us improve our processes.
Please contact us on 1300 889 743 and direct your feedback as follows:
Negative Gearing Benefits
Most lenders will consider negative gearing benefits when calculating your borrowing power and this reduces your tax expense. Our ‘How much can I borrow?’ calculator will deduct the interest on your investment loans before calculating your tax expenses. The result of this is that banks will allow investors to borrow more than homebuyers. To discuss your options, please call us on 1300 889 743 or enquire online for free and one of our mortgage brokers can help with your investment home loan.) [2633] => stdClass Object ( [post_id] => 40732 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => If you can avoid cross-securitising, it’s usually the better option. However, let’s say you’re not in a hurry to move your portfolio around and your LVR is at around 50-60% of the total portfolio value. Cross-collateralisation may be a good option in order to score a sharper owner-occupied rate and avoid having to put up your own funds to buy an investment property. At this LVR, it should also be possible to unlock or decouple your properties if you needed to sell your properties. Every situation is different! Speak with a mortgage broker about the options available to you. Call us on 1300 889 743 or complete our free assessment form today. ) [2634] => stdClass Object ( [post_id] => 13939 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
How can I get my loan approved?
Our mortgage brokers are experts in getting mixed use property loans approved. We can assess your situation and determine the best way to represent it to the lenders.
We can assess each mixed property on its own merits. If the zoning isn’t going to change, or the property’s purpose isn’t going to change, then we’ll have to match it up to the right lender.
As mortgage brokers, we can determine which lender will be best suited for your security property.
Call us today on 1300 889 743 or complete our free assessment form to find out how we can help you.
) [2635] => stdClass Object ( [post_id] => 83856 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => If you need the services of a mortgage broker to help get your loan approved then why not talk to us at the Home Loan Experts? Please call us on 1300 889 743 or enquire online to speak to one of our experienced brokers. [sg_popup id=81314] ) [2636] => stdClass Object ( [post_id] => 83134 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Our Home Loan Experts brokers are here to answer your questions and help you make informed decisions, because we care. Call us on 1300 889 743 or fill out our free online assessment form.
) [2637] => stdClass Object ( [post_id] => 84407 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Did you know that some lenders will waive LMI or offer a discount?
These discounts are rare and there are often strict qualifying criteria.
The great news is that they are usually available for home loans that already have very low interest rates!
We have made agreements with some of our lenders to offer some specials to our customers.
You can view the current discounts available and qualifying criteria on our home loans with no LMI page.
There are special no-LMI discounts from various lenders.
The above list of lenders and lenders mortgage insurers aren't ordered this way in our calculator's results.
One or more major banks may be included depending on your search criteria.
If you'd like our help to find the lowest LMI premium then please call us on 1300 889 743 or fill in the details on our online assessment form.
) [2638] => stdClass Object ( [post_id] => 84727 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => p>If you're a contractor, we have a template below that you can use.
However, if you're purely a sole trader, in a partnership or operate via company and are unable to prove your income through traditional means, there are other options.
You may be able to provide older tax returns, Business Activity Statements (BAS) or an accountants letter by way of a low doc loan.
If you're in this situation, please call us on 1300 889 743 or fill in our online enquiry form and we'll let you know how we can help you qualify
) [2639] => stdClass Object ( [post_id] => 84776 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Can the loan be in my name?
Yes, it’s possible to setup the loan to be in the name of the trustee or director of the trustee instead of being in the trust name.
For example, if John Smith is the director of ABC Pty Ltd, the trustee for The Smith Unit Trust, then the loan could be set up in two ways:
Note that some banks don’t accept the second loan structure listed above.
Please talk to your accountant for tax advice regarding the different structures.
Fill in our free assessment form or call one of our brokers on 1300 889 743 to find out which lenders can help with your proposed loan structure.
) [2640] => stdClass Object ( [post_id] => 84780 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
As a New Zealand citizen, you generally have similar rights and requirements as Australian citizens when it comes to purchasing a property.
The typical documents you will need to provide include proof of identity such as a passport, birth certificate, or driver's licence. Additionally, you'll need to submit visa documentation, including your Special Category Visa (SCV) or other valid Australian visa. Financial documents such as proof of income, evidence of deposit or savings, and details of your current bank, loan, and credit-card accounts are also required. Property-related documents such as the contract of sale and conveyancing paperwork are necessary for the application process.
Our Home Loan Application Process page has an in-depth explanation of what documents are needed and what each step entails.
Lenders may require additional documents depending on your specific circumstances or the type of property you intend to buy. Our experts are here to ensure you have all the necessary paperwork prepared for your home loan application. Call us at 1300 889 743 or fill out our free online assessment form, and we’ll get back to you as soon as possible.
) [2641] => stdClass Object ( [post_id] => 69410 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Selling your house can be a tedious process. But if you pay attention to the details covered above, you’ll be well positioned to make the sale at the most advantageous time. For more assistance, call Home Loan Experts at 1300 889 743 or enquire online, so our brokers can help you.
) [2642] => stdClass Object ( [post_id] => 940 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>The major banks tend to refer many enquiries about borrowing using a trust to their business banking department.
This works well for the bank as more experienced staff handle the loan. However, the customer is often charged a higher rate and more fees, making it more expensive to get their loan approved.
Business banking is slow, expensive, may not include a low doc option and tends to allow you to borrow far less than you can with a residential loan.
We know lenders with lower fees and competitive rates!
Please call us on 1300 889 743 or complete our free assessment form today!
) [2643] => stdClass Object ( [post_id] => 23214 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Buy A Property Below Market Value Today!
Get into the property market and help your parents out as well! Call 1300 889 743 or fill in our free assessment form today!
) [2644] => stdClass Object ( [post_id] => 3938 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Speak with one of our experienced mortgage brokers about your refinance needs by calling 1300 889 743 or by filling our free enquiry form.
Do you have any questions or are you confused?
Feel free to write them in the comment section below and we'll get back to you right away.
) [2645] => stdClass Object ( [post_id] => 76554 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Our mortgage brokers will help you throughout the process. Call us on 1300 889 743 or enquire online for free today! ) [2646] => stdClass Object ( [post_id] => 33624 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Our credit specialists have many years of experience in the mortgage industry.
We have mortgage brokers who have dealt with numerous construction loan applications including people who are borrowing against land equity.
Tell us about your situation and loan needs by calling us on 1300 889 743.
If you’d like one of us to contact you instead, you can enquire online for free, and we’ll get back to you in 24 hours.
) [2647] => stdClass Object ( [post_id] => 68902 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>How Do I Get A Home Loan Approved With My Income?
Prove To The Lender You Can Make Repayments
Demonstrate to the lender that you have a good grasp of your financial situation.Improve Your Credit Score
A bad credit home loan will have a higher interest rate than a standard home loan. A good credit score improves your chances of approval. If your credit score is low, try to improve it before you apply for a home loan. Do not apply for more credit in the lead-up to getting a home loan.Buy What You Can Afford
It can be tempting to buy in the most popular areas. However, property prices for these suburbs are too high for most. Expand your search towards outer suburbs or even regional areas if capital cities are too expensive. Get pre-approved for a home loan, so you’ll know what you can afford.Buy With A Small Deposit
Even if you have not saved up a 20% deposit, you can still get approved for a home loan. In most cases, you have to pay Lenders Mortgage Insurance (LMI) if your deposit is less than 20%. However, there are circumstances where you don’t need to pay LMI at all. Going for low-deposit home loans is a great option to enter the property market now, instead of waiting for property prices to fall.Look Beyond Traditional Banks
Remember, the home loan products of major banks tend to have strict lending criteria. Other lenders can help if you have a low credit score, are self-employed, or earning income in a foreign currency. Tip: Take the help of a mortgage broker who has a wide range of lenders on their panel. A mortgage broker will help you get approved for the right home loan from the right lender.It’s important to note that your income is not the only factor that determines if you get approved for a home loan. Your deposit, credit score, etc are also assessed. Do not forget the costs involved when buying a home. At Home Loan Experts, our mortgage brokers are here to help every step of the way. Call us on 1300 889 743 or enquire online. ) [2648] => stdClass Object ( [post_id] => 45470 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Call us on 1300 889 743 or fill in our free assessment form today.
We can find a lender that will take a common sense approach to your living expenses with children and build a strong case for how you will afford your ongoing mortgage repayments.
) [2649] => stdClass Object ( [post_id] => 42104 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Split contracts themselves are common in purchases from developers in new estates or where developers are subdividing larger residential blocks.
This is the reason your property is dependent on the completion of the entire project.
If you're planning to build a townhouse or multiple units on one title, the good news is that Australians are increasingly getting used to "smaller living".
For example, Sydney will soon be a 50:50 city in which half the population will be living in standard dwelling houses and the other half will be living in smaller living spaces like units and townhouses.
This trend is continuing to spur on the development of multi unit dwellings.
Do you need a split contract construction loan?
We're experts in construction and off the plan loans.
Please call us on 1300 889 743 or complete our free assessment form and we can help you qualify for a loan.
[wbcr_snippet id="73400"] ) [2650] => stdClass Object ( [post_id] => 80857 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Single income? Don't let that stop you from owning your dream home! We are known for getting approvals for tough loans, even for single-income borrowers. Our experts will guide you through every step of the process, from pre-approval to closing, and help you get matched with the perfect home loan for your single income. Call us at 1300 889 743 or fill out our free online assessment form, and we’ll contact you. Act now!
) [2651] => stdClass Object ( [post_id] => 35482 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Do you qualify for a mortgage deposit using a credit card and is it right for you?
Call 1300 889 743 or complete our online enquiry form to speak with one of our mortgage brokers.
[wbcr_snippet id="73259"] ) [2652] => stdClass Object ( [post_id] => 43251 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Do you qualify for a discounted interest rate or waived LMI as a mine surveyor?
Just give us a call on 1300 889 743 or fill in our free assessment form and find out more about home loans for mine surveyors.
) [2653] => stdClass Object ( [post_id] => 53925 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => When you borrow for your business it's important to keep separate loan accounts so that your accountant can keep track of which debts were used for which purpose. This makes it easier at tax time to make sure you calculate how much interest you can deduct. This is something easy to do; just ask your mortgage broker during the application process. To go over your business debt consolidation loan options with one of our award-winning mortgage brokers, give us a call on 1300 889 743 or fill in our online assessment form. ) [2654] => stdClass Object ( [post_id] => 68491 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Let Us Help You!
The higher your credit score, the less danger you present, and the more likely you will qualify for that new loan. If you’ve been considering a home loan, we can help you with steps that will improve your credit score before you apply.
We’ll also connect you with lenders that will accept your situation and credit history. Contact us today by filling out our free assessment form or calling 1300 889 743 to get a competitive home loan package.
) [2655] => stdClass Object ( [post_id] => 34106 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Your state's relevant Environment Protection Agency (EPA) website sets the minimum guidelines for operating a landfill site including:Apply for a commercial loan for landfill
Do you need a commercial loan for landfill? We're experts in getting finance for specialised commercial properties! Call us on 1300 889 743 or complete our free assessment form to speak with one of our expert mortgage brokers about your plans to buy a landfill or waste management facility. [wbcr_snippet id="75853"] ) [2656] => stdClass Object ( [post_id] => 8122 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Due to the nature of this loan product and its fast approval rate, some banks and lending institutions will charge a fee.
Others will charge an application fee, a discharge fee and settlement fee.
However, we which major banks have none at all! This is because the banks obtain title insurance and pay the fees themselves.
To apply for a fee-free fast refinance home loan, please call us on 1300 889 743 or enquire online today!
) [2657] => stdClass Object ( [post_id] => 60301 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Our mortgage brokers are experts at home loans for psychologists. We’ll work with you to ensure a smooth application process. Call us on 1300 889 743 or enquire online. ) [2658] => stdClass Object ( [post_id] => 51667 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
If you’re thinking of buying or selling a property, talk to us and get pre-approved before entering into a contract of sale.
We can help you find a home loan that best suits your needs.
Give us a call on 1300 889 743 or fill in our free assessment form.
) [2659] => stdClass Object ( [post_id] => 10828 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Mud brick is the oldest used construction material and is made from all natural ingredients straight from the earth. The process to make mud bricks uses only energy from the sun so there's no harm to earth in the making of mud bricks.
Mud bricks are made by mixing clay earth with water and adding straw to prevent the bricks from cracking.
The mud is then dried in the sun and then to protect the mud bricks from getting ruined by rain they are treated with linseed oil or turpentine.
Mudbrick is very durable and with proper maintenance, mudbrick homes can stand centuries.
Our expert mortgage brokers can help you get the loan for a mudbrick home.
Please call us on 1300 889 743 or enquire online today!
) [2660] => stdClass Object ( [post_id] => 35859 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Whether you're an investor or you want to buy your dream home, we all like to shop around for a great deal.
Do it the smart way by speaking with a mortgage broker and protecting your credit score.
Call us on 1300 889 743 or fill in our online enquiry form today!
[wbcr_snippet id="75317"] ) [2661] => stdClass Object ( [post_id] => 17122 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => As soon as a statement of claim is issued against you or the company that you run, a court writ listing will be recorded on your credit history. The court writ is considered by the Privacy Act to be public knowledge. As such, a credit reporting agency (Equifax) receives this data from the courts and will record it in the individual's credit file. A court writ will stay on your file for five years. It may be replaced by a judgment if the matter continues in the court. Once you've paid your debt, there are options for removing a court writ but each state is different when it comes to the legal process. For example, when it comes to court matters in New South Wales, a Notice of Discontinuance or a Consent Order will need to be used. If the matter is settled with the plaintiff outside of court, a Notice of Discontinuance is used to set the matter aside. If the matter progresses to a court judgment, a Consent Order will need to be signed if you want it removed from your credit file. This stipulates that the plaintiff consents to a judgment being set aside. After the matter is settled, you can have you court writ removed from your credit file. While a court writ or court judgment may seem like a death sentence when applying for a loan, the quicker that you pay off the debt, the better! It shows that you are making a real effort to pay back your debts, rather than throwing in the towel and declaring bankruptcy. You can find more information about bad credit and judgment home loans on our website. To find out if you qualify for a credit home loan, please contact Home Loan Experts on 1300 889 743 or enquire online. [wbcr_snippet id="73739"] ) [2662] => stdClass Object ( [post_id] => 35153 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>It’s recommended that you seek independent financial advice before considering borrowing for your SMSF.
Work out your financial goals and then speak with one of our experienced mortgage brokers about what you plan to do.
We’re credit experts so call us on 1300 889 743 or fill in our online enquiry form today.
) [2663] => stdClass Object ( [post_id] => 22309 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => If you want reap the rewards of a snow field lifestyle and good rental income, speak to us today. Most of our senior mortgage brokers are successful property investors in their own right and understand how banks view different property types. Please call us on 1300 889 743 or free assessment form and discover if we can get you approved for a home loan. [wbcr_snippet id="73604"] ) [2664] => stdClass Object ( [post_id] => 78716 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
As renting a home becomes more expensive due to the supply and demand imbalance, you might consider buying a home. You can use our rent or buy calculator to help you decide. Our mortgage brokers are here to help you navigate the market and get you the finance needed to buy your home. Call us on 1300 889 743 or complete our free online assessment form today.
) [2665] => stdClass Object ( [post_id] => 173 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Get your loan approved first
Do not begin construction of your property before obtaining a full approval. Obtaining finance for an incomplete security as a low doc loan is near impossible.
Owner builder
Currently no lender accepts a normal owner builder low doc loan unless you are a licensed builder yourself or have a very large deposit.
The exception to this is if you already own other properties. We have a select few lenders on our panel that will allow you to release equity from your other properties, which you can use for the construction of your home as an owner builder.
If you do not have enough equity in your properties you may need to go for a full doc loan.
Low doc and bad credit
If you have bad credit, obtaining finance for a low doc construction loan becomes almost impossible.
Luckily enough, we do have one lender on our panel that accepts bad credit low doc construction loans.
Case study
After buying a block of land for $350,000 a couple of years ago, John and his family couldn't wait to start building their dream home in Nar Nar Goon, just an hour out of Melbourne.
John got some quotes, decided on a licensed builder, and worked out that he needed to borrow $420,000 to start constructing.
John ran his own graphic design business as a sole trader and earned a great income but he was knocked back for a construction loan when he applied with his bank. What was the problem?
He couldn't provide his latest tax return and, on top of that, he had a $2,000 default on his personal credit card.
The default occured 4 years ago as a result of a dispute over pay with a client.
Until he could provide his most recent tax return and his credit card default cleared in a year's time, it seemed as if John and his family would have to put off construction.
However, by going with a specialist lender, paying a slightly higher interest rate and coming up with a bigger deposit, John was able to borrow $420,000 at 75% LVR, with principle and interet repayments over 30 years.
What worked in John's favour was that:
Specialist lenders work a little differently to standard banks, particularly when it comes to assessing applicants with a bad credit history.
They tend to take a more common sense approach to understanding an applicant's situation rather than relying heavily on black and white lending policy. It's common for self-employed borrowers to be unable to provide up-to-date financials and many have one or two black marks on their credit file. If you need help getting approved for a low doc construction loan, please call us on 1300 889 743 or fill in our free assessment form today.) [2666] => stdClass Object ( [post_id] => 78953 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Ready to explore your mortgage options with our experienced team of Nepali mortgage brokers? We are dedicated to providing the guidance and support you need, whether you're a first-time buyer, looking to refinance, or planning future property investments. Speak with a Nepali mortgage broker by calling 1300 889 743 or by completing our free online enquiry form today. With Home Loan Experts, you're one step closer to your dream home. ) [2667] => stdClass Object ( [post_id] => 64292 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
In summary, the secrets to getting the best loan include:
We’re mortgage brokers and if you’d like our assistance, call us on 1300 889 743 or complete our free no-obligation assessment form.
) [2668] => stdClass Object ( [post_id] => 31690 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>There are many reasons to use a mortgage broker when you buy commercial property.
Mortgage brokers have valuable experience and are credit specialists. They have relationships with many banks and lenders.
You can buy commercial property yourself but a mortgage broker makes it all much easier. They can also help you qualify for a commercial property loan at competitive interest rates.
You can discuss your situation and loan needs with one of our mortgage brokers by calling us on 1300 889 743. You can also fill in our free online assessment form and one of us will contact you instead.
[wbcr_snippet id="75748"] ) [2669] => stdClass Object ( [post_id] => 73761 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Property can be an attractive investment for growing wealth. As with all investments, there are a few things to consider first, because there is always a risk.
It’s essential to do as much research as possible to reduce the risk of something unexpected happening, and that’s where we come in. Our expert mortgage brokers can guide you from start to finish on your property investment journey.
To book a time with a Home Loan Experts mortgage broker, call us on 1300 889 743 or fill out our free online assessment form.
) [2670] => stdClass Object ( [post_id] => 70024 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => All set to buy the property of your dreams? Our mortgage brokers will carefully review your situation and help you with documentation to make sure you do not miss out on any benefit you qualify for as a gynaecologist. Our experienced, specialist lenders have access to 50+ lenders on our panel, to help you find the ideal fit for your unique situation. Reach out to our mortgage brokers on 1300 889 743 or fill in our free assessment form to speak to one of our Home Loan Experts today. [wbcr_html_snippet id="73985"] [wbcr_snippet id="74209"] ) [2671] => stdClass Object ( [post_id] => 1595 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>At Home Loan Experts, our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders.
Please call us on 1300 889 743 or fill in our free online assessment form and explain how you earn an income.
[wbcr_snippet id="74664"] ) [2672] => stdClass Object ( [post_id] => 57407 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Don’t jump onto the bandwagon of buying a property just because interest rates are low. While the interest you pay on your mortgage is a determining factor when buying your home, there are other expenses involved. The rent vs buy decision is not an easy one to make, and it’s helpful to get the advice of experts to ensure you have all the information you need. Our mortgage brokers can assess your situation and provide you with home loan options that suit your needs. Call us on 1300 889 743 or fill in the free assessment form.
[wbcr_snippet id="73174"] ) [2673] => stdClass Object ( [post_id] => 33791 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>We're construction loan specialists that can turn the complexities of the process into a smooth and stress-free experience for you.
Call us on 1300 889 743 or complete this easy online enquiry form today.
) [2674] => stdClass Object ( [post_id] => 916 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>The SIV 188 visa came into effect as a new stream within the Business Innovation and Investment (Provisional) (Subclass 188) and the Business Innovation and Investment (Permanent) (Subclass 888) visa on 24 November 2012.
Effectively, it allows high net worth (HNW) foreign investors to live in Australia for up to 4 years and 3 months, with the option to apply for the permament 188 visa.
We have more negotiating power with certain lenders for borrowers on the SIV visa.
For example, most lenders will only consider income in Australian Dollars (AUD). Others will accept foreign currency but will require that the majority of your income be the same as your country of residence.
With the Significant Investor Visa, some lenders may be willing to waive these requirements so you can qualify for a mortgage in Australia and grow your property portfolio.
If you are on a SIV 188 visa, call us on 1300 889 743 or complete our online enquiry form to start buying real estate in Australia.
) [2675] => stdClass Object ( [post_id] => 58822 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you need extra funds during construction, we can help you out after assessing your scenario and needs.
To talk to a mortgage broker that specialises in half-built home loan, please enquire online or call us on 1300 889 743.
[wbcr_snippet id="72900"] ) [2676] => stdClass Object ( [post_id] => 61421 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you want to know what you need to do today to qualify for a home loan, please call us on 1300 889 743 or fill in our free assessment form and discover how our award-winning service can help you qualify.
) [2677] => stdClass Object ( [post_id] => 72314 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>We can help determine if a bad-credit loan is right for you. Call us on 1300 889 743 or enquire online to discuss your situation with one of our experts.
) [2678] => stdClass Object ( [post_id] => 21713 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Guarantor Home Loan
Using your super as a deposit sounds like a quick fix solution to having to save a large deposit in a high cost living environment. However, the first problem is that you have to wait potentially two years to get any benefit from the FHSSS scheme.
The second problem is that the benefit is minimal - we're talking a drop in the ocean in saving the amount you need to buy an averagely-priced property.
Worse still, property prices aren't waiting for FHBs - everyday it's becoming harder and harder to get your foot on the property ladder.
If you want to get into the property market sooner and avoid the heartache of missing out on a home, have you considered a guarantor loan?
Why A Guarantor Loan May Be A Better Solution
Want to know more? Call us on 1300 889 743 or fill in our free online enquiry form to discover if you qualify.
Shared Equity Schemes
This is a type of home ownership arrangement where two or more parties, typically a home buyer and an investor, will each contribute a portion of the purchase price in exchange for a share of equity in the property. Shared equity can help reduce the financial burden of purchasing a property by sharing the cost of the deposit. The government offers this opportunity to FHBs. Different states have different requirements. Visit our page on shared equity schemes to learn more. If you do not qualify for them, there are also non-government schemes like Bricklet’s shared home ownership scheme, where property investors will share equity with you.Low-Deposit Home Loans
If you are short on your home loan deposit but in a stable financial situation, there are lenders that are willing to lend to borrowers with deposits as low as 5%. However, most lenders will have strict lending criteria for borrowers with small deposits, as these types of loans are considered more risky for them. They will look for:
For more information, visit our low-deposit loan page.
) [2679] => stdClass Object ( [post_id] => 156 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Enquire online or call us on 1300 889 743 and we will find the loan that is right for you! We have several no doc lenders that can assist professional investors and self employed borrowers without ABNs.
) [2680] => stdClass Object ( [post_id] => 31185 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>It can be a good idea to refinance a business loan if:
Refinancing may not be a good option if you're having trouble making your mortgage repayments. You'll need to assess carefully if refinancing will save you money or simply bring in more debt.
Our mortgage brokers have many years of experience in the mortgage industry. We know which lenders can offer the most competitive rates and deals.
Call us on 1300 889 743 or complete our free online assessment form today.
) [2681] => stdClass Object ( [post_id] => 46285 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Are you a high-income earner with large living expenses?
Call us on 1300 889 743 or fill in our free assessment form today.
We're experts in living expenses for high-income earners.
) [2682] => stdClass Object ( [post_id] => 73100 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Give us a call on 1300 889 743 or fill in our free online assessment form to find out how Home Loan Experts can help you find and purchase your dream home quickly!
) [2683] => stdClass Object ( [post_id] => 65832 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Apart from these strategies, comparing offers from different lenders and researching what works with them is also a good way to improve your chances of home loan approval.Home Loan Experts’ specialist brokers can assess your situation and do the research for you, to help make your home loan application as strong as possible.Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2684] => stdClass Object ( [post_id] => 32938 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form today.
We can let you know how to qualify for a bank guarantee!
) [2685] => stdClass Object ( [post_id] => 30605 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Our mortgage brokers specialise in guarantor home loans. They can help you find a suitable lender that can meet your home loan needs from our list of almost 40 lenders.
Not setting up your mortgage properly may put the guarantor at a higher risk!
You can speak with one of our brokers who specialises in guarantor supported home loans by calling us on 1300 889 743 or by completing our free online assessment form today!
[wbcr_snippet id="74418"] ) [2686] => stdClass Object ( [post_id] => 20881 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Are you ready to buy a commercial property? Let us help you to get a great deal.
Call us on 1300 889 743 or complete our free assessment form and our mortgage brokers will assist you to choose the most suitable lender.
) [2687] => stdClass Object ( [post_id] => 20301 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>For self-managed superannuation fund (SMSF) loans, most banks will need the last two years’ tax returns of your trust in order to properly assess its current income.
If your trust is new then we can use alternative methods to prove its income by assuming a certain return on the total value of the fund's assets.
The lender wants to make sure that the trust’s income plus the proposed rental income will be sufficient enough to service the debt.
Our SMSF loan page can provides more information on how borrowing within a trust works and what the benefits are.
Need help applying for an SMSF loan? Call us on 1300 889 743 or enquire online and one of our mortgage brokers can get you started on your application.
) [2688] => stdClass Object ( [post_id] => 67977 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => LMI is applicable only when you are borrowing more than 80% of the property value; however, a risk fee is paid under various circumstances, not just for low deposit home loans.Ultimately, the decision to pay either a risk fee or LMI depends on the lender and the type of home loan you are seeking. The key point is that mortgage insurers and lenders that charge risk fees all use different pricing. So for certain loan amounts and LVRs, risk fees might be cheaper than LMI or vice versa.
At Home Loan Experts, our mortgage brokers use software to compare the costs of LMI as part of the loan recommendation process. The best approach is to calculate the total cost of the loan, including LMI, interest rates and other applicable fees over the term the borrower intends to keep the loan. Call us on 1300 889 743 or enquire online to find out if risk fees would be cheaper than LMI when you apply for a home loan.
) [2689] => stdClass Object ( [post_id] => 2330 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you're working a commissioned job, we can provide you with a large selection of lenders and banks that can cater to your specific and particular needs.
Fill in our free assessment form or contact us on 1300 889 743.
Our expert mortgage brokers will assist you in getting a mortgage regardless of your income source!
) [2690] => stdClass Object ( [post_id] => 43730 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Let's say you had a $500,000 30-year term investment loan with an interest rate of 5.5% per annum (p.a.).
You have a 5-year interest only period and over this 5-year IO period, you'll be paying $2,291.67 per month and then $3,070.44 per month for the remaining 25 years.
If you had an interest only offset account with $15,000 deposited into the facility, you will only make interest payments on $485,000.
So your monthly interest payments for the first 5 years will be $2,222.92 which amounts to a saving of around $825 per year for the first 5 years.
Call us on 1300 889 743 or complete our free assessment form to discover if you qualify for an interest only offset account.
) [2691] => stdClass Object ( [post_id] => 32585 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>We're specialists in commercial property loans for non-residents so give us a call on 1300 889 743 free or by filling in our online enquiry form. A mortgage broker will get back to you!
You'll find that unless you're buying a large commercial property or intending to make multiple acquisitions, you won't need to go through FIRB at all!
[wbcr_snippet id="75572"] ) [2692] => stdClass Object ( [post_id] => 1887 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>We're mortgage brokers who specialise in working with people from your industry and so we'll handle your situation professionally.
Please feel free to contact us on 1300 889 743 or enquire online and one of our brokers can quickly let you know what types of mortgage products you qualify for.
[sg_popup id=65221] [wbcr_snippet id="74654"] ) [2693] => stdClass Object ( [post_id] => 13182 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Are you looking for a better alternative to private banking? Please call us on 1300 889 743 or enquire for free online and our mortgage brokers can assist you with your home loan, commercial loan and business loans. We can access competitive products and negotiated pricing from a range of lenders.
[wbcr_snippet id="72752"] ) [2694] => stdClass Object ( [post_id] => 458 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Some banks will have restrictions depending on the location of the property that you are buying. Many of our lenders have no location restrictions and are open-minded when it comes to investment loans used to buy in a mining town.
If you are interested in investing in a property in a mining town then call us on 1300 889 743 or enquire online and our mortgage brokers will find the best home loan for you.
) [2695] => stdClass Object ( [post_id] => 54614 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Our mortgage brokers are up-to-date with the lending policies of over 40 lenders.
They will know how to assess your income and any lending policy changes due to COVID-19.
Call us today at 1300 889 743 or fill in our free assessment form.
) [2696] => stdClass Object ( [post_id] => 7091 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Debt consolidation is not a silver bullet. It doesn’t reduce your level of debt, it simply allows you to better manage your repayments. Ideally, a debt consolidation strategy should be implemented in combination with a change to your spending behaviour so you can work towards reducing your debt level over time.
Consider using a budgeting tool
You may want to review your spending habits to ensure that you avoid falling into a debilitating debt cycle that will affect your borrowing power for years to come.
The ASIC Moneysmart website has a great budgeting tool that helps you to track your spending and there are plenty of other resources available online.
Pay off your refinanced debt as quickly as possible
Consolidating all of your debts into your mortgage increases your loan balance. When interest rates rise, your repayments will increase. This is known as concentration risk.
Consider taking advantage of all available savings you have to make additional repayments to pay off your new debt as soon as you can.
Close your old credit card accounts
Many borrowers keep their credit facilities open after they have consolidated their existing credit card debts into their home loan. If you continue to use your credit accounts you will run up more debt. You may also be charged account-keeping fees.
Speak to a professional
If you have consolidated debts in the past, you may need help to break out of a cycle of poor spending habits. Consider speaking to Debt Fix, professionals in debt consolidation and management, or a debt counsellor who can educate you on ways to save, budget and plan out your spending in line with your income.
Apply for a debt consolidation loan
If you’re ready to consolidate your debts, we have the expertise to help.
Call us on 1300 889 743 or enquire online. We are mortgage brokers specialising in bad credit loans and can help you regain financial control through a debt consolidation home loan.
Speak to us today!
) [2697] => stdClass Object ( [post_id] => 13162 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Are you ready to apply for a mortgage? Please call us on 1300 889 743 or complete our free assessment form and one of our mortgage brokers will contact you to discuss what we can do for you.
) [2698] => stdClass Object ( [post_id] => 50697 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Our mortgage brokers are credit experts first and foremost as such they pride themselves on getting tough loans approved.
For a free no-obligation assessment from one of the best home loan brokers in Sydney, give us a call on 1300 889 743 or fill in our online assessment form.
) [2699] => stdClass Object ( [post_id] => 80709 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Remember, the best time to act was yesterday; taking action today is your next best choice. This holds true in the realm of real estate as well. There's always a right time to invest in a home. The ideal time is when you're financially prepared. Home Loan Experts is here to help you. Our team of mortgage brokers knows a lot about buying homes and has helped many people purchase their first home. We'll help you from the beginning to the end. Ready to make your move? Contact Home Loan Experts today at 1300 889 743 or enquire online for free. ) [2700] => stdClass Object ( [post_id] => 58569 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you're thinking of buying your first home, our first home buyer's guide is a great resource to start with.
Our mortgage brokers are here to help and are experts at helping first home buyers.
Call us on 1300 889 743 or fill in our online assessment form for free. ) [2701] => stdClass Object ( [post_id] => 71571 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Contact us at 1300 889 743 or fill in our online assessment form and our specialist mortgage brokers will help you purchase your dream home!
[wbcr_html_snippet id="73985"] [wbcr_snippet id="74195"] ) [2702] => stdClass Object ( [post_id] => 25614 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you don’t know much about them, a look at a list of some home loan features can make you feel like you’re lost at sea.
A good mortgage broker can help set you on the right path though.
They can give you hot tips regarding these loan features, like how getting a standard loan with redraw facility may be a better option for couples on a single income with kids, or why an offset account with a credit card is a good feature if you’re a high earner and good with managing your spending.
Our mortgage brokers have many years of experience in credit and have relationships with more than 40 lenders.
What this means for you is an easy, streamlined application process where you get the home loan that's right for you at a competitive price.
Call us on 1300 889 743 or complete our free assessment form to discover how we can help you with your home loan needs.
) [2703] => stdClass Object ( [post_id] => 31414 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>We're experts in rental income mortgages and know which lenders will approve your home loan using child's rent application.
Call us on 1300 889 743 or complete our online assessment form today.
[wbcr_snippet id="74562"] ) [2704] => stdClass Object ( [post_id] => 78756 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => It is important to stay informed about the market conditions and consult with mortgage brokers to understand the potential impact of rising inflation on home loan interest rates specific to your situation. Home Loan Experts can assist you if you are struggling to meet your monthly repayment. Call us on 1300 889 743 or complete our free online assessment form today. ) [2705] => stdClass Object ( [post_id] => 53426 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Since income (employment) is the number one concern for lenders right now, mitigating this should be your main focus.
What this means is if you’re applying for a loan, you should submit more income documents:
Furthermore, banks and lenders also look into the following when you're applying for a home loan during coronavirus pandemic, specifically whether or not:
How can I get approved if I have reduced short term income but can afford the loan in the long term?
If you can demonstrate you can afford the loan based on your longer-term income, some of our specialist lenders can consider alternative short-term methods where appropriate to bridge the coming 12 month period.
Some acceptable method that can be considered where appropriate are:
Please note that this option will not be suitable for all, i.e. if you've lost your job, as opposed to being placed on forced leave or reduced hours.
Some good news
There has been some good news for home loan customers primarily stemming from RBA’s cash rates. The cash rate stands at 0.10%, and lenders are now offering attractive interest rates on fixed-rate home loans. Some lenders have also dropped their variable rates. Please refer to the interest rates page for the best current rates.How soon can I get approved?
Some lenders are super fast still (1 day) while many others, especially the big banks are taking more than 20 business days to assess a loan.
Home loan pre-approvals aren’t rock-solid, lenders can and will renege on them if they see a risk, so auctions are a bad idea as well.
How can we help?
As award-winning mortgage brokers with access to almost 40 lenders, we understand the changing lending landscape better than most.
In the short term, getting approved is about mitigating the risks to the lender.
We do this by providing extensive notes for a strong case, extra income evidence and by understanding which policies, each lender are flexible on and more importantly, where they’re not.
To find out if you qualify, talk with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form today.
) [2706] => stdClass Object ( [post_id] => 64257 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Reducing your upfront costs can save you a lot of money. You could use that savings to make your monthly repayment, which, unlike paying most upfront costs, helps reduce your loan amount.
Home Loan Experts’ mortgage brokers can help you get discounts and exemptions on all sorts of upfront costs.
Please feel free to call us on 1300 889 743 or enquire online to get in touch!
) [2707] => stdClass Object ( [post_id] => 274 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Give us a call on 1300 889 743 or enquire online and one of our mortgage brokers will contact you to discuss your options.
) [2708] => stdClass Object ( [post_id] => 48060 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Do you need help getting approved for a home loan?
Call us on 1300 889 743 or fill in our free assessment form today.
) [2709] => stdClass Object ( [post_id] => 3879 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Do you need help with your home loan? Our mortgage brokers know the policies for each bank and know which can accept income from a scholarship.
We can quickly work out which lender would be most suitable for you, depending on the nature and duration of your scholarship and how best to present your application to the bank to ensure it gets approved.
Please call us on 1300 889 743 or enquire online and one of our brokers will ring you back to discuss your situation.
[wbcr_snippet id="74522"] ) [2710] => stdClass Object ( [post_id] => 58892 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Variable home loans usually come with several features to help you manage your home loan and pay off the loan faster. These features include:
Making larger repayments makes sense as you pay off the home loan earlier and the bank will charge you interest on the remaining balance.
However, these features usually come at a cost, which would outweigh the benefit if you don't use them at all.
Talk to our mortgage brokers about how you can potentially make use of these home loan features so you can manage your home loans effectively. Call us on 1300 889 743 or fill in our free assessment form.
) [2711] => stdClass Object ( [post_id] => 50366 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Due to the aggressive interest rates of non-banks, it may seem like a no-brainer to choose a non-bank lender for your home loan.
They offer flexible interest rates and lower fees on their home loan products. Furthermore, traditional banks have been forced to respond to their fierce competition by lowering their interest rates as well.
However, interest rates are one of the many facets you should look into when choosing a lender.
You also have to take into consideration the following points before choosing a non-bank lender:
) [2712] => stdClass Object ( [post_id] => 45445 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
As the name implies, this is spending in areas that you can easily cut or reduce when you start making mortgage repayments.
Examples include:
These are areas that can be reasonably reduced without affecting your basic cost of living.
The key to approval is declaring to the bank the reductions that you will making to your monthly spend.
Where do people spend a lot without realising it?
Clothing is one area where borrowers can be in denial about how much they spend.
Generally speaking, couples spend around $2,000-$3,000 a year, which may be a hard pill to swallow for some borrowers.
While you may not spend $150 every month, it's likely that you'll spend more than that on a one-off item over a 3-month period, say, $500 on a dress or a new suit.
What if you have high living expenses but a good income?
It's true that some lenders do take income into account when assessing living expenses and some also use a higher benchmark in some affluent locations and postcodes.
However, many other lenders simply rely on a flat living expenses benchmark based on the number of adult applicants and whether you have any dependents.
That means your income level won't affect how they assess your living expenses.
It's to best to call us on 1300 889 743 or fill in our online enquiry form because we can let you know where your borrowing power stands.
It may just be a matter of making some small changes to your spending habits in order to get approved.
) [2713] => stdClass Object ( [post_id] => 30776 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Lenders typically allow you to switch to a full doc business loan after two years of perfect conduct. Perfect conduct means on time repayments without any missed repayments in between.
Some lenders will require you to provide full income evidence such as tax returns when you switch over. Low doc business loans generally have higher interest rates. By switching to a full doc business loan, you can potentially save thousands over the term of your loan.
You can call us on 1300 889 743 or complete our free online assessment form to speak with one of our specialist mortgage brokers about switching to a full doc business loan.
) [2714] => stdClass Object ( [post_id] => 35005 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>We're specialists in helping Australians who don't have a deposit to buy the property of their dreams.
Please call us on 1300 889 743 or fill in our free assessment form to discover if you're eligible to use your inheritance as a deposit.
[wbcr_snippet id="73250"] ) [2715] => stdClass Object ( [post_id] => 52954 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>An auction can be a lot more stressful and riskier than a private sale.
Walk into an auction confidently by following these steps:
Step 1: Research
Buying your first home at an auction without prior research is like trying to cross a road blindfolded; you may succeed at crossing the road safely but will you take that chance?
Perhaps not!
So, do thorough research about the property. Since you will not know the exact reserve price, you will need to check and compare the past sales report for that property. You may also want to check out the neighborhood and the suburb, not just to calculate the possible property value but also to ensure that you’ve found the right property that suits your living standards.
Keep track of recent sales activity, clearance rates and price trends around that area. The upward trend in property sales and listings, price and clearance rate may be an indication of higher housing demand, and, thus, higher property value.
For instance, in the last week of February 2020, there were 2,444 properties listed for auction across all the capital cities in Australia with a preliminary clearance rate of 77.7%, according to CoreLogic data. In comparison, over the same week in 2019, auction listings were lower with only 2,293 properties going up for auction with a final auction clearance rate of merely 49.4%.
We recommend you refer to CoreLogic since they are the leading authority on property data. However, accessing those requires a fee. So, why not start with other sites like Realstate or Domain that also refer to the CoreLogic data.
A good way to go about researching properties is to go through property and suburb reports. We have subscribed to several property market and suburb reports. So we may be able to provide you free reports on a specific property and suburb. Please give us a call on 1300 889 743 or fill in our online enquiry form today in order to get your hands on one of those free reports.
Step 2: Get a feel for the auction
Before you even intend to bid at an auction, you may want to have a good sense of what actually happens at auctions.
Auctioneers often play with the psychology of the potential buyers to raise the stake as high as possible. They create a highly competitive atmosphere and most bidders succumb to it, thereby, bidding more and fast, pushing the property price up.
By observing several auctions, you will see through the hypnotic monotone of the auctioneer and the ego-fuelled biddings of the buyers. That way, you can be more objective and practical about buying a house at an auction.
Step 3: Assemble your team
Experienced property investors usually have a team of professionals guiding them.
Chances are you will be up against these investors at an auction. So, it is advisable that you also set up your own team of professionals.
Hiring their services will cost you additional money but they will ensure that you will buy your first home without any hassle at an auction.
The people that you ideally want to hire to help you out with an auction are:
We are specialist mortgage brokers with years of experience and proven track record in applying and settling tough home loans. If you would like us to help you with your home loan application, please give us a call on 1300 889 743 or complete our free, no obligation enquiry form, and one of our senior mortgage brokers will soon be in touch with you.
We also have an inspection checklist to guide you through the inspection process, and a list of recommended conveyancers, should you like to use their services.
Step 4: Get your pre-approval
A pre-approval is a free, conditional approval, which is an indication from your lender that they will approve your loan when you formally apply for a mortgage. It’s based on your income, assets, debts and liabilities.
If you want to bid for a house at an auction, you may want to get a written pre-approval first. It will tell you how much you can afford to spend so you can make an informed decision when bidding at an auction.
Also, it will make things easier when applying for a full mortgage later, if you’re the successful bidder.
Many buyers attending auction simply ignore getting a pre-approval, which may cause unwanted frustrations when it comes to securing the additional finance for the property. As a result, many of them end up forfeiting their 10% deposit.
Don’t risk losing your deposit at auction!
Our mortgage brokers have worked in the credit department for major lenders. They know very well which banks offer a reliable pre-approval and how to get them to fully assess your application.
Please complete our free assessment form or call us on 1300 889 743 and one of our mortgage brokers can make sure you get the finance you need to purchase a property.
Step 5: Order building and pest inspections
A major risk of buying at housing auctions is the uncertainty of the physical condition of the property.
To avoid unwanted hassle of repairs and pests, you need to arrange for building and pest inspections well before the auction date to ensure you have completed your due diligence.
While building reports cost several hundred dollars depending on the charm of the neighborhood, pest reports only cost a couple of hundred dollars.
But both might take around a week before you can get your hands on them so you might want to expedite all necessary inspections.
Ensuring everything is in the right order will help you save money on repairs and installation of unavailable utilities.
Finding safety hazards and missing utilities post-auction means you will be liable for them, not the seller.
Step 6: Get your minimum deposit ready
At the end of the auction, the successful bidder is promptly required to sign and exchange the contract of sale, and also pay a 10% of the property price as a deposit.
But before the fall of the hammer, it is quite impossible to predict the exact property value.
So, if you’re serious about bidding at an auction, you need to secure enough funds for the deposit. And, by enough, we mean more than 10% of the average median house price around the auction area.
The seller may agree to a partial-deposit, usually 5%, but that’s very rare, and needs a change in the contract of sale, which most sellers don’t normally prefer to do.
So, the only sure-shot way of securing your first home after winning an auction is to be able to make the deposit required by the contract.
You can make the deposit at an auction by:
You may want to have a conversation regarding this with the solicitor or the agent of the seller prior to the auction day.
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We have mortgage brokers who specialise in business loans. We can help you create a strong application and apply for business finance with a more flexible lender.
You can discuss your situation with one of our credit specialists by calling us on 1300 889 743. If you want one of us to contact you instead, you can simply complete our free online assessment form.
) [2717] => stdClass Object ( [post_id] => 46833 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>It's not about timing the market: it's about time in the market.
This sentiment still holds even when real estate prices are in a downturn.
Get started on your home buying journey today by speaking with one of our experienced mortgage brokers.
We can assess your eligibility for a home loan so call us on 1300 889 743 or fill in our online enquiry form today.
) [2718] => stdClass Object ( [post_id] => 1987 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>The maximum LVR allowed for a capped rate loan is currently set at 90%. However, LMI premiums can be capitalized above the 90% LVR amount.
Apply for a capped rate home loan now!
We specialise in capped rate loans and can provide you with all the information you need. Our mortgage brokers can choose the best lender from our panel that can provide you with an affordable capped rate home loan.
Please feel free to enquire online or call us on 1300 889 743 for more information.
) [2719] => stdClass Object ( [post_id] => 32679 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => It's important to remember that there are no universally good or bad options – the right one for you depends on your goals and situation. Let Home Loan Experts guide you through the decision-making process and find the perfect solution tailored to your needs. So why wait? Call us on 1300 889 743 or fill in our free online assessment form today! ) [2720] => stdClass Object ( [post_id] => 2868 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => There are a number of lenders we can recommend, depending on your individual circumstances. As Home Loan Experts specialise in bad credit home loans, we are in a great position to offer help. Please call us at 1300 889 743 or fill in our free assessment form today. [wbcr_snippet id="73715"] ) [2721] => stdClass Object ( [post_id] => 26797 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Which Lender Is Best For LMI?
This is a hard question to answer fundamentally because banks don’t share this information with the public so it’s almost impossible to shop around if you’re trying to do it by yourself.
Luckily, as a mortgage broker, it’s a part of our job first to qualify you for a mortgage and then, secondly, compare the associated fees of a particular lender, including their LMI premium rates, in order to find the best possible deal for your situation.
What you’ll really want to avoid is going over the so-called ‘LMI limit’ with the particular lender you want to apply for.
This refers specifically to the exposure limits for mortgage insurance providers. Most will accept up $750,000 for one security and up $2.5 million for 3 or 4 properties.
Call us on 1300 889 743 and find out what we can do for you.
) [2722] => stdClass Object ( [post_id] => 44456 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Select professionals can get their mortgage insurance waived completely. Banks have specific criteria regarding your profession and income before offering waived LMI. No LMI when borrowing up to 90% of the property value is typically only available to:
) [2723] => stdClass Object ( [post_id] => 47045 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Refinancing an SMSF loan is tougher than ever due to lending policy restrictions.
It's essential that you speak with a mortgage broker that specialises in this area of credit.
Please call us on 1300 889 743 or complete our online enquiry form to discover if you qualify.
) [2724] => stdClass Object ( [post_id] => 69684 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => We at Home Loan Experts understand surgeons need to be accessible for their patients at all times, so we value your time. Our brokers navigate the complex process through settlement and beyond for you, so you don't have to shift focus from your work. We have a team of experienced brokers who can help you take advantage of all the special offers available to you as a surgeon, so you get the best deal for your home loan. Call us on 1300 889 743 or fill in our free assessment form to get in touch. ) [2725] => stdClass Object ( [post_id] => 33347 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Whether you're looking to buy an existing dental practice or start your own, give us a call on 1300 889 743 or fill in our free assessment form today.
We’re specialists in dental practice loans and we know how to build a strong case so you can get a great deal.
) [2726] => stdClass Object ( [post_id] => 30490 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Each lender varies in their appetite for aged care homes.
Borrowing at the maximum Loan to Value Ratio (LVR) means applying with the right lender.
Like borrowing limits, banks do not advertise their commercial interest rates to the general public.
Most people are in the dark when it comes to comparing rates but we are expert negotiators that have strong relationships with the key decision-makers in commercial lending departments.
Call us on 1300 889 743 or fill in our free assessment form to speak with a commercial broker today.
) [2727] => stdClass Object ( [post_id] => 26119 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Unfortunately, Cadmans Cottage isn’t up for sale because it’s a historical site. Despite this, there are specialist lenders who will accept heritage-listed properties.
Did you know that even if the property you want to buy isn’t a historical site, certain lenders will not accept certain properties and locations?
Luckily, an experienced mortgage broker can help you build a strong case with the right lender.
If you’re interested in purchasing or refinancing a heritage-listed property or you’re not sure whether your property will be accepted by the bank, call us on 1300 889 743 or complete our free assessment form to find out how we can help you.
) [2728] => stdClass Object ( [post_id] => 1352 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
We’re experts in the genuine savings policies of all the major Australian lenders and know which ones can approve a loan without any genuine savings.
Please call us on 1300 889 743 or enquire online to speak to a specialist mortgage broker who can find you a loan without the need to show genuine savings.
) [2729] => stdClass Object ( [post_id] => 58978 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Whether you’re a first home buyer researching the property market and looking for a home loan, or a seasoned investor looking for your next investment opportunity, our mortgage brokers are here to help. Call us on 1300 889 743 or fill in our free assessment form. ) [2730] => stdClass Object ( [post_id] => 59497 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Home loans for medical professionals can have various offers and concessions available, which differ from lender to lender. To link-up with the best lenders that suit your profile and needs, we suggest you take the route of consulting a mortgage broker. Our specialist mortgage brokers have their expertise in professional loans. They can make your home loan process much smoother and efficient. For further process, please complete our free assessment form. You can also call us on 1300 889 743 to discuss your situation with one of our specialist mortgage brokers. [wbcr_html_snippet id="73985"] [wbcr_snippet id="74126"] ) [2731] => stdClass Object ( [post_id] => 30610 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Our mortgage brokers are specialists in income guarantee home loans and other no deposit solutions.
Discover if you qualify by calling 1300 889 743 or by filling in our free assessment form today.
) [2732] => stdClass Object ( [post_id] => 25803 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Bridging loans can seem complicated, so here are two scenarios to help you better understand how they work.
Let's meet Jim and Nancy
Jim and Nancy have an apartment in the city which they intend to sell. They have an existing mortgage balance of $300,000 on the apartment.
But before they're able to sell the apartment, they see a house come on the market in an ideal location that they don't want to miss out on.
They apply for a bridging loan and get approved, during which the couple's existing $300,000 loan becomes the bridging loan with a maximum loan term of 12 months.
For the new house, the couple gets approved for a $600,000 home loan. That means the couple now have a $900,000 combined debt ($300,000 existing debt plus $600,000 new home loan as peak debt).
Scenario 1: The apartment is sold
During the bridging period, the couple decides to make interest-only repayment.
The couple sells their apartment six months down the line for $400,000. Of this, $300,000 is used to clear their initial mortgage balance on the property, which was sold. This leaves them with remaining proceeds of $100,000:Now that the property is sold, the home loan switches from interest-only to principal and interest repayment. Their repayment goes towards paying off both the principal loan amount as well as the interest.
Scenario 2: The apartment is not sold
Twelve months later, the apartment remains unsold because the couple is not happy with the value of offers received.
The bank steps in to assist with the sale of the couple's property for the best offer of $270,000.
The proceeds from the sale are not enough to pay off the couple's apartment home loan.
So, the shortfall of $30,000 is added to the new home loan, subject to approval. This increases the home loan balance to $630,000. So, the shortfall of $30,000 is added to the new home loan, subject to approval. This increases the home loan balance to $630,000. Quick snapshot:The couple makes principal and interest repayments on the $630,000 home loan now that his bridging period is over.
A bridging loan is not always suitable or available to you.
Please speak with one of our specialist mortgage brokers to discuss all the options available to you.
Call us on 1300 889 743 or fill in our short online assessment form.
) [2733] => stdClass Object ( [post_id] => 60056 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Are you planning on building a property empire? Our mortgage brokers can help you on your journey. Call us on 1300 889 743 or enquire online.
) [2734] => stdClass Object ( [post_id] => 30404 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Lenders won't automatically offer you waived LMI because you're a nurse.
However, because you work in a low risk profession, you're more likely to qualify for 90% no LMI, which is waived LMI when borrowing up to 90% of the property value.
You'll need to meet additional lenders requirements:
What if I don't meet the above criteria?
If you currently have a 10-15% deposit, saving a little more to get to 20% is another option for you to avoid LMI completely.
The only exception is if you're borrowing at 80% with a low doc loan.
Our mortgage brokers are specialists in nurse home loans. They know which lenders offer these discounts to nurses and which lenders are more conservative with their requirements.
You can call us on 1300 889 743 or fill in our free online assessment form to find out what offers are available for your situation.
Are first home buyer discounts available?
If you're a first home buyer, you can get a discount of up to 15% on your LMI premium with select mortgage insurance companies.
You won't get the discount if your lender doesn't deal with these specific LMI providers.
Please note that in most cases, you must not be borrowing more than $600,000. Also, if your deposit is from a borrowed source then you won't qualify.
Luckily, you can use the First Home Owners Grant (FHOG) as your deposit. However, it may not be enough on its own.
If you're unsure about whether or not you qualify for the grant, you can find out in the FHOG website.
) [2735] => stdClass Object ( [post_id] => 64668 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
There are some lenders that offer a ‘non-genuine savings’ loan if you meet their criteria. However, conditions may apply.
The best way to borrow 100% of the purchase price with no savings is by using parents as guarantors.
Different lenders have their own criteria when it comes to the source of the deposit.
Please call us on 1300 889 743 or enquire online to speak to a specialist mortgage broker to see if you can qualify for a home loan without genuine savings.
) [2736] => stdClass Object ( [post_id] => 57643 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Mortgages for Hong Kong investors are still available but you have to meet strict criteria and provide the right supporting documents when the banks ask for it. Our mortgage brokers can properly assess your situation and help you to get approved. Call us on 1300 889 743 or complete our free assessment form to discover how you can qualify for a home loan as a Hong Kong national. [wbcr_snippet id="74999"] ) [2737] => stdClass Object ( [post_id] => 20512 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Which lender has the best home loan discounts for optometrists?
We have an eye for finding the right loan!
Find out what is on offer by calling 1300 889 743 or by filling in our free assessment form.
) [2738] => stdClass Object ( [post_id] => 32185 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Do you need a Boost Juice franchise loan so you can start realising your business goals?
Call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify and how we can you a great deal.
) [2739] => stdClass Object ( [post_id] => 68746 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
We have experts who can help you find a suitable option when it comes to buying a property. If you’re undecided about a rent-to-own home or want to seek an alternative, we can assess your situation!
If you'd like to learn more about how we may assist you with your home loan, give us a call at 1300 889 743 or complete our free assessment form. Our mortgage brokers will assist you in obtaining the best possible rates!
[wbcr_snippet id="73063"] ) [2740] => stdClass Object ( [post_id] => 68346 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>How To Find A Private Mortgage Lender
There are several costs you may incur when buying your first home. You should discuss these costs with your mortgage broker or conveyancer before signing the contract to buy a property.
) [2742] => stdClass Object ( [post_id] => 34547 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Mortgage brokers are paid on a commission basis which means they're invested in your application and will work hard to get you approved and provide you with an amazing service.
Have you:
As a mortgage broker, I act in your best interests when recommending a home loan, whereas a lender has no legal obligation to do so.
Call us on 1300 889 743 or complete our easy online enquiry form and tell us a little about your situation.
One of our experienced mortgage brokers can provide you with a free, no obligation assessment.
) [2743] => stdClass Object ( [post_id] => 55267 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
We help our customers with their first home owners grant application. Please contact us on 1300 889 743 or enquire online and we will assist you to complete the form, provide the correct supporting documentation as well as following up with the lender to make sure your grant is approved and paid promptly.
) [2744] => stdClass Object ( [post_id] => 67208 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>There are so many variable factors to consider to know if building a house or buying is the right choice for you.
Remember, there is a difference between buying a new home and buying an old one.If you buy an established home, you do not get first home buyer benefits or stamp duty concessions and it also comes with higher maintenance costs than new homes.
On the other hand, if you decide to build a home, you have to factor in the costs of clearing the site, landscaping, soil tests, etc. Also, unexpected costs can arise during site preparation that are not covered in your building contract. The budget you have will restrict what you want to install and you might not get the fixtures and fittings you had planned.
With newly released vacant land lots, land registration takes time, which extends the timeframe for purchase settlement and eventually the build. It could take a year or two for the completion of the home. In the meantime, continue to pay your rent which is dead money; if your rent is $450 a week, this is an annual total of $23,400. Over two years, it’s $46,800.
Costs are just one of the many factors to consider when deciding whether to buy or build, however, as you need to assess your present and future needs. While an established home gives you convenience, building a house gives you the advantage of personalisation. With passive designs and the use of better building materials and energy-efficient systems, you can save on energy bills.
It may come down to your preferred location and the must-haves of your perfect home. If you can make a few compromises on features and need a good location near the city, an established property might be a safer bet. If you already own land and have a reliable builder, you may do well building your dream home.If you’ve made the decision to build or buy your home, our mortgage brokers can help to find the right mortgage to finance your dream. Call us on 1300 889 743 or complete our free assessment form.
[wbcr_snippet id="73269"] ) [2745] => stdClass Object ( [post_id] => 32070 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you don't qualify for a commercial property guarantor loan, you can always use a residential or commercial property that you own to secure the entire loan amount (not including the costs of completing the purchase).
We often deal with applicants who own multiple properties to cross-collateralise both residential and commercial properties in order to guarantee a loan.
Without a guarantor or your own property as security, you may be still able to get a commercial property loan secured by providing a director's guarantee and a general security agreement (GSA) over a business you own.
The business would need to have strong fundamentals and would likely need to be turning over $5 million a year.
Other than that, saving a larger deposit is your only other option.
Call us on 1300 889 743 or complete our free assessment form so we can take a thorough look into your situation and your needs in order find the right commercial property loan solution for you.
Do I have to be a first-time buyer?
No!
Most lenders will only accept first home buyers wanting to get a guarantor loan but this isn't the case with a commercial property guarantor loan.
) [2746] => stdClass Object ( [post_id] => 23119 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Get rewarded for your service by saving thousands over the life of your mortgage!
Home Loan Experts is accredited with Australian Military Bank, a DHOAS home loan provider.
Call 1300 889 743 or complete our free assessment form, today and one of our senior mortgage brokers can tell you if you qualify for these exclusive ADF home loan subsidies.
[wbcr_snippet id="74513"] ) [2747] => stdClass Object ( [post_id] => 50787 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Our brokers are credit experts first and foremost and aided by almost 40 lenders on our panel; we can usually find you a solution.
Even when there isn't a suitable option at the moment, our brokers don't shy away from spending up to 6 months with clients to get them to a point where they can qualify for a home loan.
To find out if you qualify for a 100% LVR home loan for professionals, please give us a call on 1300 889 743 or fill in our online assessment form today.
) [2748] => stdClass Object ( [post_id] => 34941 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>We're experts in unusual income types like workers' compensation!
Call us on 1300 889 743 or complete our online enquiry form to speak and tell us about your situation. Otherwise, you can simply fill in our free assessment form and one of our mortgage brokers will get back to you.
[wbcr_snippet id="74527"] ) [2749] => stdClass Object ( [post_id] => 25755 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>You’ll want to delight your patrons but not necessarily surprise them. If people are expecting a hip, inner-city cafe, don't give them a steakhouse.
Here’s a breakdown of popular styles of restaurants:
Once you understand what you want to offer people, you then have to think about ways to stand out in a competitive environment. You need to carve out your own niche based on your own skills, experience and personality.
If you're good with people, for instance, you might want to go with a food-service business so you have more opportunity to connect with customers. If you're happier cooking, you might want to go with a commercial venture like a bakery, catering service or a function centre.
Call 1300 889 743 to discuss your restaurant plans with one of our experienced commercial brokers.
) [2750] => stdClass Object ( [post_id] => 441 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
If you are interested in buying or refinancing a property that is heritage listed then please call us on 1300 889 743 or enquire online and we can help you work out how much you can borrow.
Low doc loans for heritage listed properties are available upon request.
[wbcr_snippet id="73525"] ) [2751] => stdClass Object ( [post_id] => 66103 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>The average home loan sizes in Australia keep changing, month to month, and are different depending on the current property values.
For expert assistance, thorough research and proper evaluation, contact our mortgage experts at Home Loan Experts.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2752] => stdClass Object ( [post_id] => 52307 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Getting a pest inspection will help uncover costly defects that could save you thousands in repairs and renovations.
Be sure to always use a qualified inspector and get the pest inspection report before you make a bid, or are in the process of buying or selling a property.
If you’re thinking of buying or selling a property, talk to us.
We can help you find a home loan that best suits your needs.
Give us a call on 1300 889 743 or fill in our free assessment form.
) [2753] => stdClass Object ( [post_id] => 45507 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Lenders are getting tougher when it comes to assessing your affordability for a mortgage.
Please call us on 1300 889 743 or fill in our free assessment form and we can help you build a strong case with the right lender.
) [2754] => stdClass Object ( [post_id] => 31231 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Call 1300 889 743 or complete our online assessment form to speak with a commercial development specialist today.
Our mortgage brokers can give you an indicative funding approval if you can give us the information we need for the commercial development you're planning to build and can also help you find out whether or not you will need a development application (DA).
) [2755] => stdClass Object ( [post_id] => 42063 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Have you reduced your credit limit or cancelled your card completely and still can't borrow the amount you need?
Call us on 1300 889 743 or complete our online enquiry form and we can let you know which lenders can help.
[wbcr_snippet id="73067"] ) [2756] => stdClass Object ( [post_id] => 45334 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you’re coming to the end of your interest only term, speak with one of our experienced mortgage brokers about your situation and your future investment plans.
We can find the right home loan solution for your needs.
Call 1300 889 743 or fill in our online enquiry form today.
) [2757] => stdClass Object ( [post_id] => 34929 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>As agribusiness specialists, we understand that exporting and importing goods and supplies is not always a straightforward transaction.
If you're exporting produce or cattle, you'd naturally want to be paid as soon as you send off your shipment.
Similarly, if you're importing machinery for your dairy farm or feeds for your livestock, you'd want to hold off payment for as long as possible to maintain your cash flow.
Trade finance is a particularly great solution if you're involved in international importing and exporting and we know lenders that can help.
Do you qualify for an agribusiness line of credit?
Call us on 1300 889 743 or complete our free assessment form and we can help you with your agribusiness finance needs.
) [2758] => stdClass Object ( [post_id] => 41573 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => p>We're experts at assisting retirement age borrowers to qualify for a home loan.Getting approved can be really tough due to strict lending policies but we know how to present a strong case with the right bank.
Speak with one of our mortgage brokers by calling 1300 889 743 or by completing our online enquiry form today.
[wbcr_snippet id="72988"] ) [2759] => stdClass Object ( [post_id] => 51844 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>As of 10 January 2020, 190 participants have already been pre-approved for the First Home Loan Deposit Scheme.
Do you want to get approved for the 5% home deposit scheme?
Call us at 1300 889 743 or fill in our free assessment form, and we can help you realize your dream of home ownership.
) [2760] => stdClass Object ( [post_id] => 53086 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Our senior mortgage brokers have previously worked at credit departments of some of the major banks, and know the lending policies of over 40 lenders. That, in turn, enables them to negotiate better terms for your mortgage application.
We can help you get the best deal on your mortgage by:
Please feel free to speak to our specialist mortgage brokers by calling 1300 889 743 or filling in our no-obligation enquiry form to help you apply for a home loan.
) [2761] => stdClass Object ( [post_id] => 43642 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>A home loan with interest only isn't a way to get out making mortgage repayments: banks want their money back with interest eventually!
You have to be disciplined and put as much of the principal payments that you're not paying into an offset or redraw facility.
Either facility will help you to reduce your interest bill but by putting the extra funds into a redraw, you're actually reduce your principal owing and still have the option to redraw if you need to.
Just bear in mind that as soon as your redraw, your fortnightly or monthly mortgage repayments will shoot back up again so it's a catch-22.
Call us on 1300 889 743 or complete our free assessment form and we can let you know if a home loan with interest only is right for you.
) [2762] => stdClass Object ( [post_id] => 43265 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Some lenders will require you to be a member and provide evidence of:
Please contact us on 1300 889 743 for more information and find out if you are eligible for an interest rate discount.
) [2763] => stdClass Object ( [post_id] => 91917 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => With years of experience helping temporary residents, we understand your hopes and dreams. Let us be your partner in achieving your Australian lifestyle. We'll guide you with care and expertise in finding the perfect home loan to match your needs. Call us on 1300 889 743 or enquire online free for more information. Your future home is just a call away. ) [2764] => stdClass Object ( [post_id] => 2083 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Your LVR is an important consideration for lenders. You can seek the help of a mortgage expert to find out what loans you are eligible for.
Please complete our free assessment form or contact us on 1300 889 743 and our mortgage brokers will provide you with expert guidance on the LVR of your loan.
) [2765] => stdClass Object ( [post_id] => 29276 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you are married or in a de facto relationship with a foreign citizen, there are three ways a lender can assess your application:
What About My Foreign Partner’s Salary?
Most lenders will ignore the income of your partner if they're not an Australian citizen or resident.
We've helped many clients get approved through exceptions to this guideline. We know lenders who can accept your Canadian partner's salary in the following circumstances:
It’s best to discuss your situation with our expert mortgage brokers. Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or fill out our free online assessment form to speak with an expert today!
What About Foreign Citizen Stamp Duty?
When you get a home loan with a Canadian citizen, you are likely to pay foreign citizen stamp duty.
You might be able to avoid it, however, if only the Australian citizen is on the title of the loan while borrowing with a foreign citizen or non-resident. As this is a complicated structure, and very high risk, lenders accept only borrowers who are in a spousal or de facto relationship.
You can find the lending criteria and advantages of this type of loan on our one on title, two on loan page.
) [2766] => stdClass Object ( [post_id] => 20209 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
At Home Loan Experts, we’re here to have your back. What makes us different? We know the ropes when it comes to commercial loans, and we’ve built solid relationships with lenders. This means we can guide you through the process, making sure your application is strong, and the terms are right for you.
If you’re thinking about applying or just want to chat, call us on 1300 889 743 or fill out our free online assessment form. ) [2767] => stdClass Object ( [post_id] => 1498 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>The following lenders use Lenders Mortgage Insurance (LMI):
Although our Lenders Mortgage Insurance calculator doesn't take all of these lenders into account, you can expect that the LMI premium will be similar to the ones listed in the calculator results.
If you'd like an LMI quote for a specific lender then please contact one of our mortgage brokers on 1300 889 743.
) [2768] => stdClass Object ( [post_id] => 58368 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
We have assisted countless first home buyers with their FHOG application.
Additionally, we have an extensive first home buyer’s guide to help you in each step of your home buying journey.
Speak with our mortgage brokers who are experts at first home loan approvals.
Please call us on 1300 889 743 or fill our free assessment form.
) [2769] => stdClass Object ( [post_id] => 53216 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Our mortgage brokers are experts at finding you a perfect solution when it comes to property valuation. If there’s a way to win a valuation challenge, with their incredible industry expertise, they will be able to assist you with it.
The best part of working with us is that you don't need to spend a dime on ordering extra valuations for comparables. We are able to do it for you without charging you any cost.
Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our free short assessment form for expert advice.
) [2770] => stdClass Object ( [post_id] => 67447 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Looking for the right bank on your own is time-consuming, and you might end up with a home loan that’s not the right fit for you. That’s why it’s good to take the help of an expert mortgage broker.
At Home Loan Experts, we have access to more than 50 lenders. We help you through settlement and beyond so you get a competitive interest rate and convenient features for your home loan. These are just a few of the reasons a mortgage broker is better than a bank. Give us a call on 1300 889 743 or enquire online today.
[wbcr_snippet id="73164"] ) [2771] => stdClass Object ( [post_id] => 27429 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Please call 1300 889 743 or fill in our free assessment form and one of our low deposit specialists can you let you know if you quality for a 15% deposit mortgage.
Significant home loan discounts are available from our panel of lenders including reduced interest rates and waived LMI so call us today!
) [2772] => stdClass Object ( [post_id] => 27546 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Our mortgage brokers are low deposit home loan specialists, many of them with a number of years of experience working in the credit departments of major banks and lenders.
They understand 97 percent home loan policy and have a range of lenders to choose from to get you the right low deposit solution for your needs.
High LVR home loans come with strict lending requirements so call us on 1300 889 743 or complete our free assessment form to discover if you're eligible for a 97% home loan.
) [2773] => stdClass Object ( [post_id] => 27304 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Even with 10% deposit, most lenders will require you to have saved at least 5% in a savings account that’s been accumulated as a result of regular deposits over a period of 3 months.
This is known as genuine savings, although, by clicking through to the link, you’ll find that other types of savings will meet this requirement.
Is your 10% deposit a gift from your parents?
In order to get a 10% deposit home loan, you can either save up 5% in genuine savings or you can go with a lender that doesn’t have this genuine savings requirement.
Our mortgage brokers are no genuine savings specialists so please call 1300 889 743 or complete this form to receive a free assessment within 24 hours.
Speak to a mortgage broker today
You don’t necessarily need a 20% deposit to buy a property!
There are 10% deposit home loan solutions out there and, with help from an experienced mortgage broker, you can even get a great deal.
Please call 1300 889 743 or complete our free assessment form to discuss your situation with us today.
) [2774] => stdClass Object ( [post_id] => 31750 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Call 1300 889 743 or complete our free assessment form today to speak with one of our specialist mortgage brokers and discover if you qualify for a Hog's Breath franchise loan.
) [2775] => stdClass Object ( [post_id] => 20487 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
As a legal professional, you could qualify for a home loan with waived LMI and discounted interest rates.
Give us a call on 1300 889 743 or fill in our free assessment form to find out more.
) [2776] => stdClass Object ( [post_id] => 27034 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Are any discounts offered?
You won’t be punished for being a low doc borrower!
You can still qualify for significant interest rate discounts that are offered on both professional packages and basic home loans.
Can I get a home loan if I have bad credit?
There are specialist lenders that are flexible with their lending requirements and will consider low doc borrowers, like IT consultants, even if they have a bad credit history.
Do you have defaults, a mortgage in arrears, judgments, or are you discharged bankrupt?
You may still qualify for an IT contractor mortgage!
Specific requirements apply so please get in touch with one of our low doc bad credit specialists by completing this free assessment form.
Can I take out a business loan?
Yes, IT consultants can take out a business loan but the interest rates for a business loan tend to be higher than that for a home loan.
However, if you’re buying a residential property for a business loan, then you can avoid these higher costs by choosing a lender that doesn’t refer you to their business banking department.
Most lenders will require you to pay Lenders Mortgage Insurance (LMI) if you’re borrowing more than 60% of the property price.
For more information on IT contractor business loan or to help you find a suitable lender, please contact us on 1300 889 743 or fill in our free assessment form.
Why do banks have a problem with IT consultants?
Lenders want to see that you’re in a stable employment and that you can keep making your mortgage repayments without any hardship.
Lenders think that an IT consultant may not be able to pay back the loan due to job instability and fluctuating income.
What most lenders don’t take into account is the ever increasing demand for IT contractors by Australian employers across many industries.
At the same time, companies are outsourcing their staff, especially IT consultants, in order to become more efficient.
Many banks actually do the same thing with their IT departments yet they somehow still don’t support lending to IT consultants!
Luckily, our mortgage brokers are contractors like you, and know exactly how to present your loan application to lenders that focus on the strengths, not the weaknesses, of your application.
How can a mortgage broker help me?
Our mortgage brokers understand that IT consultants:
By choosing the right lender, you’ll have a better chance of getting approved, so call us on 1300 889 743 or complete our free assessment form to discuss your situation with us today.
[wbcr_snippet id="74833"] ) [2777] => stdClass Object ( [post_id] => 20489 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Do you qualify for a discounted interest rate or waived LMI?
Give us a call on 1300 889 743 or fill in our free assessment form to find out more.
) [2778] => stdClass Object ( [post_id] => 66989 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => If you are a first home buyer, but not a high-earning professional, or can’t qualify for the Home Guaranteee Scheme and can’t get LMI waived completely, there are still ways to get an LMI discount.Up To 33% Discount On LMI For First Home Buyers
Some mortgage insurance companies are offering up to a 33% discount on their LMI fees for first home buyers. These discounts are available only through certain lenders working with these mortgage insurance companies. Usually, to qualify for an LMI discount, your home loan should not exceed $1.2 million. To see if you qualify for an LMI discount, please complete our free assessment form or call us on 1300 889 743 and discuss your situation with one of our specialist mortgage brokers. ) [2779] => stdClass Object ( [post_id] => 31248 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Can I Get A Guarantor To Secure The Split Loan?
Yes, a guarantor to assist you to buy a home. Generally, with the help of a guarantor, lenders allow you to borrow 100% loan to value ratio (LVR), even 105% to cover additional costs such as government stamp duty. Most lenders even waive the requirement for Lenders Mortgage Insurance (LMI) if you have a guarantor. Our mortgage brokers are guarantor home loan experts. They can help you find a suitable lender that can meet your home loan and financial needs from our panel of almost 40 lenders. Call us on 1300 889 743 or complete our free online assessment form to find out if you qualify.Will I Be Able To Pay Off My Loan Faster?
Provided that the interest rate doesn't rise and you can use the split mortgage effectively, you may be able to pay off your mortgage early. Also, using your offset account more effectively and making regular additional repayments can also help you stay on top of the mortgage.Can I Get A Split Loan Feature On An Investment Loan?
Yes, split loans are available on loans for investment purposes. Above all, you need to consider your plans over a 5-year period. Over a 30-year term, there's a higher chance that you'll pay more in interest for your home loan. However, for investors planning to sell their property within 5 years, a split mortgage can give you some of the flexibility and short-term stability that you're looking for.) [2780] => stdClass Object ( [post_id] => 31667 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Usually, lenders don’t advertise their best rates, especially when considering business loans, as each application is assessed on a case-by-case basis. The interest rate for the loan is usually negotiated based on the loan size, the lender and the strength of your application. This can make it difficult to shop around for a great interest rate. However, we’ve made this easier by publishing the most competitive rates from our panel of almost 40 lenders.
Check out the business loan interest rate page to find the best fixed rates as well as the best variable rates available.
Call us on 1300 889 743 or by complete our free assessment form to get started with your home loan journey, today! ) [2781] => stdClass Object ( [post_id] => 8503 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Did you know that there are many successful foreign businesses in Australia? The resources boom has brought many mining companies from China, South Africa and the UK to Australia.
There are also many American franchises, consulting firms and British recruitment companies that make up a large part of the Australian economy.
Foreign investors prefer Australia due to the abundance of resources and the attractive lifestyle the country offers. However, some of the challenges of doing business in Australia include the distance from other countries and a relatively small market due to a smaller population density.
Please enquire online or call us on 1300 889 743 to discuss your application with one of our expert mortgage brokers.
[wbcr_snippet id="75001"] ) [2782] => stdClass Object ( [post_id] => 1485 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>It's better to obtain a home loan while you're pregnant and still working rather than while on leave.
We can offer you loans from a wider selection of lenders so you're more likely to get a better deal.
It's critical that you plan your finances well in advance of the birth so that you don't get caught out later on if you need more funds than you anticipated.
Avoid unnecessary stress by completing our free assessment form and speaking to one of our specialist mortgage brokers on 1300 889 743.
) [2783] => stdClass Object ( [post_id] => 82226 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Discovering the right home loan tenure involves carefully assessing your financial situation, goals and risk tolerance. Our expert team is ready to support you in making an informed decision that seamlessly aligns with your long-term vision.
To experience a mortgage process infused with care and expertise by one of our Home Loan Experts, reach out to us at 1300 889 743 or enquire online.
) [2784] => stdClass Object ( [post_id] => 1357 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Yes, you can. In the following section, we’ve explained several ways you can get a home loan even with no genuine savings.Choose Lenders That Don’t Require Genuine Savings
No genuine savings home loans are available if you choose the right lender:You can access a range of mortgage calculators on our website which will help you to work out your borrowing capacity and the cost of your mortgage. If you wish to speak to an expert mortgage broker, please call us on 1300 889 743 or enquire online and we can let you know which lenders can approve you.
) [2786] => stdClass Object ( [post_id] => 21031 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Most banks that offer deposit bonds are actually just re-branding the bond of an insurance company such as QBE or CBL Insurance Ltd.
There are also other providers such as Deposit Power, Deposit Bond Australia (DBA), Aussie Bonds and Deposit Underwriters. Which one is right for you? Call us on 1300 889 743 or fill in our free assessment form and we'll find you the cheapest deposit bond.
) [2787] => stdClass Object ( [post_id] => 13816 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Our mortgage brokers are experts in SMSF loans and know which lenders will best suit your needs. Please call us on 1300 889 743 or enquire online and we will complete a serviceability calculation with several of our lenders to find out your maximum loan amount.
) [2788] => stdClass Object ( [post_id] => 35149 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
SMSF loans will always come with a "loaded" interest just because there is a higher risk with limited recourse loans.
However, this risk margin can vary significantly depending on whether we can get you approved at residential or commercial rates.
Many major banks process SMSF loans through their commercial or business banking department. Business lending comes with much higher rates and ongoing fees than the residential arm.
Getting approved at a lower, residential SMSF loan interest rate comes down to packaging the deal with the right lender.
Discover how much we could save you on your SMSF loan by calling 1300 889 743 or by completing our online enquiry form today.
) [2789] => stdClass Object ( [post_id] => 34925 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
If the SMSF is able to stand on its own with enough liquidity in the fund, then the lender may waive the personal guarantee requirement.
For example, if you buy a commercial property for $800,000 and you put in $500,000 as a deposit and earn $50,000 a year in rent, the cash flow in this transaction is strong enough that the lender may not need a personal guarantee from you.
That's because the Loan to Value Ratio (LVR) or the amount you're borrowing compared to purchase price is 37.5% (not including the costs of completing the purchase).
With just a $300,000 loan amount at a 7.00% interest rate, your annual repayment is just $21,000.
This means the rental amount is more than sufficient enough to cover the loan repayment and still have a huge buffer leftover.
Despite this, the decision to waive the personal guarantee requirement depends on the lender.
We can help you find a lender that doesn't require you to provide a personal guarantee for an LRBA loan!
Home Loan Experts has a wide variety of lenders to choose from and credit expertise in SMSF and LRBA lending.
Call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify for a limited recourse loan.
) [2790] => stdClass Object ( [post_id] => 36956 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
When building your real estate portfolio, having a good mortgage strategy is just as important as having a good property investment strategy.
As we’ve mentioned above, having a current mortgage with someone else can seriously affect your borrowing power if you decide to buy real estate on your own.
Because there are less than a handful lenders that offer a common debt reducer as a solution, that means there is less opportunity to shop around and get a great interest rate.
It also means you won’t be able to spread your risk across multiple lenders so you avoid exceeding mortgage exposure limits.
Want to keep building your investment portfolio?
Call us on 1300 889 743 or complete our free assessment form to discuss your situation with one of our specialist mortgage brokers.
We can tell you if you qualify for a common debt reducer home loan and also help you build a good mortgage strategy for your investment portfolio.
[wbcr_snippet id="72391"] ) [2791] => stdClass Object ( [post_id] => 3783 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Most bank managers and credit managers have never been self employed, do not have a background in accounting and simply do not understand how to interpret financial statements.
However, our mortgage brokers are experts in lending to self employed borrowers, trusts, companies and professional investors!
We can quickly assess your income and work out if you are eligible for a mortgage. Please call us on 1300 889 743 or enquire online to speak to one of our mortgage brokers.
) [2792] => stdClass Object ( [post_id] => 924 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>The SIV 188 visa came into effect as a new stream within the Business Innovation and Investment (Provisional) (Subclass 188) and the Business Innovation and Investment (Permanent) (Subclass 888) visa on 24 November 2012.
Effectively, it allows high net worth (HNW) foreign investors to live in Australia for up to five years, with the option to apply for the permanent 188 visa.
We have more negotiating power with certain lenders for borrowers on the SIV visa.
For example, most lenders will only consider income in Australian Dollars (AUD). Others will accept foreign currency but will require that the majority of your income be the same as your country of residence.
With the Significant Investor Visa, some lenders may be willing to waive these requirements so you can qualify for a mortgage in Australia and grow your property portfolio.
If you are on a SIV 188 visa, call us on 1300 889 743 or complete our online enquiry form to start buying real estate in Australia.
Are You A Student Visa Holder Or An International Student?
Most banks will allow student visa holders to borrow funds to purchase a property in Australia.
The Foreign Investment Review Board (FIRB) doesn't restrict students from buying a home or investment property as long as they meet standard FIRB criteria.
However, your ability to get approval for a loan largely depends on whether or not you have a stable job and a solid income. If you're working, most banks will lend you 80% of the property value.
If you're not working, then your parents may be able to purchase the house for you. Please see our student visa mortgage page for more information.
) [2793] => stdClass Object ( [post_id] => 3694 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>It helps to get advice from a mortgage broker that specialises in hobby farms before deciding to apply for a home loan.
They can help build a case that addresses the bank's requirements on land size, location and how much income may be generated from the operation.
Please call us on 1300 889 743 or enquire online and one of our mortgage brokers who specialises in hobby farms can help you to apply for a home loan.
What should I look out for in a hobby farm?
Check that the land is suitable for what you're planning to use it for
This can include fertile soil for growing produce and, for the purposes of caring for animals, fields for grazing and clear access to water sources, such as ponds and lakes.
If you're buying vacant land then check with council to confirm that you are allowed to build a dwelling on the property.
Check with council regarding zoning and infrastructure projects
Zoning changes all of the time and planned or ongoing infrastructure or commercial projects can have a major affect on your ability to run a hobby farm. For example, a new motorway can affect the peace and quiet that you were after in the first place, while, from a practical perspective, a new mining or gas project can have a massive effect on the health of the surrounding environment and your ability to grow produce.
In terms of actually getting approved for a hobby farm loan, did you know that there are lending restrictions on bushfire prone properties, many of which are located in the same rural areas as lifestyle farms?
Check that you're getting what you pay for
Sometimes the farm will come with everything you need including built-in stables or houses for animals, troughs, feeding dispensers and fences. That’s great but it also means you have to ensure that you're getting what you pay for, that is, making sure all of the amenities are in good condition and to code.
Legal requirements
Be aware of local council restrictions as well as state and federal laws and licensing requirements regarding the use of land and owning farm stock.
For more resources and tips on lifestyle farms, go to farmstyle.com.au.
What do the banks assess?
Hobby farms can be assessed in several ways by our banks, depending on the location and the size of the property.
Land size: There is technically no maximum land size. However, to qualify with most banks the land must be less than 10ha. Some banks can consider up to 50ha and one can consider any size land as long as the property is not being used for business or income-producing purposes.
Banks are likely to be very conservative with properties over 200 hectares.
Location: Each lender has their own postcode restrictions. At least two of our lenders have no postcode restrictions at all, although, remote properties will always be difficult to finance.
Access: The land must have easy access using an all-weather road. Dirt roads are fine as long as they are well maintained.
Services: The land must be within range to be connected to the electricity grid without excessive costs or have solar power. Town water and sewerage services aren't required as many Australian properties have tank water or septic tanks instead. Fully-serviced and partially-serviced blocks are both acceptable.
Zoning: Land can be zoned rural, rural residential or the equivalent for your state. Be careful with land that is zoned industrial, commercial or for farm use as they are generally not accepted or may be considered as a commercial farm unless it's clear they can't be used as a home. A good rule of thumb is that if the land you are buying is subject to GST then it would be considered as a commercial property by the banks.
Land use: The land can only be used for personal or investment purposes, not as a commercial farm. Hobby farms with minor farm improvements and that don't produce income from farm production are usually accepted.
Why are the banks so conservative?
During times of drought or during economic downturns, farms tends to fall in value and take longer to sell. This is particularly true in country areas and remote locations where land prices fluctuate more often.
Normal houses on the other hand have more potential buyers and so tend to sell much faster.
Because of this higher volatility, banks tend to be more conservative when approving a home loan for hobby farms.
In addition to this, banks consider commercial farms to be businesses, not a lifestyle purchase so they can only be considered for more expensive commercial loans and business loans.
[wbcr_snippet id="73312"] ) [2794] => stdClass Object ( [post_id] => 75671 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>This is a very trying time for homebuyers coming out of their fixed-rate mortgages, and we have been helping customers traverse the mortgage cliff. If you are worried, call us at 1300 889 743 or fill in our free online assessment form, to speak with one of our expert brokers today!
) [2795] => stdClass Object ( [post_id] => 2802 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => You can get approved for a home loan with defaults on your credit report, you just have to make the right moves for your situation. This is where we can help you. We can also assist you by linking you to credit repair companies if your credit score is too low. Our mortgage brokers are experts at finding lenders for people with impaired credit. Please call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will let you know if you qualify for a home loan. [wbcr_snippet id="73708"] ) [2796] => stdClass Object ( [post_id] => 97980 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Due to the aggressive interest rates of non-banks, it may seem like a no-brainer to choose a non-bank lender for your home loan.
They offer flexible interest rates and lower fees on their home loan products. Furthermore, traditional banks have been forced to respond to their fierce competition by lowering their interest rates as well.
However, interest rates are one of the many facets you should look into when choosing a lender.
You also have to take into consideration the following points before choosing a non-bank lender:
) [2797] => stdClass Object ( [post_id] => 97981 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Due to the aggressive interest rates of non-banks, it may seem like a no-brainer to choose a non-bank lender for your home loan.
They offer flexible interest rates and lower fees on their home loan products. Furthermore, traditional banks have been forced to respond to their fierce competition by lowering their interest rates as well.
However, interest rates are one of the many facets you should look into when choosing a lender.
You also have to take into consideration the following points before choosing a non-bank lender:
) [2798] => stdClass Object ( [post_id] => 98026 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Home loans for medical professionals can have various offers and concessions available, which differ from lender to lender. To link-up with the best lenders that suit your profile and needs, we suggest you take the route of consulting a mortgage broker. Our specialist mortgage brokers have their expertise in professional loans. They can make your home loan process much smoother and efficient. For further process, please complete our free assessment form. You can also call us on 1300 889 743 to discuss your situation with one of our specialist mortgage brokers. [wbcr_html_snippet id="73985"] [wbcr_snippet id="74126"] ) [2799] => stdClass Object ( [post_id] => 98028 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Home loans for medical professionals can have various offers and concessions available, which differ from lender to lender. To link-up with the best lenders that suit your profile and needs, we suggest you take the route of consulting a mortgage broker. Our specialist mortgage brokers have their expertise in professional loans. They can make your home loan process much smoother and efficient. For further process, please complete our free assessment form. You can also call us on 1300 889 743 to discuss your situation with one of our specialist mortgage brokers. [wbcr_html_snippet id="73985"] [wbcr_snippet id="74126"] ) [2800] => stdClass Object ( [post_id] => 98030 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Are any discounts offered?
You won’t be punished for being a low doc borrower!
You can still qualify for significant interest rate discounts that are offered on both professional packages and basic home loans.
Can I get a home loan if I have bad credit?
There are specialist lenders that are flexible with their lending requirements and will consider low doc borrowers, like IT consultants, even if they have a bad credit history.
Do you have defaults, a mortgage in arrears, judgments, or are you discharged bankrupt?
You may still qualify for an IT contractor mortgage!
Specific requirements apply so please get in touch with one of our low doc bad credit specialists by completing this free assessment form.
Can I take out a business loan?
Yes, IT consultants can take out a business loan but the interest rates for a business loan tend to be higher than that for a home loan.
However, if you’re buying a residential property for a business loan, then you can avoid these higher costs by choosing a lender that doesn’t refer you to their business banking department.
Most lenders will require you to pay Lenders Mortgage Insurance (LMI) if you’re borrowing more than 60% of the property price.
For more information on IT contractor business loan or to help you find a suitable lender, please contact us on 1300 889 743 or fill in our free assessment form.
Why do banks have a problem with IT consultants?
Lenders want to see that you’re in a stable employment and that you can keep making your mortgage repayments without any hardship.
Lenders think that an IT consultant may not be able to pay back the loan due to job instability and fluctuating income.
What most lenders don’t take into account is the ever increasing demand for IT contractors by Australian employers across many industries.
At the same time, companies are outsourcing their staff, especially IT consultants, in order to become more efficient.
Many banks actually do the same thing with their IT departments yet they somehow still don’t support lending to IT consultants!
Luckily, our mortgage brokers are contractors like you, and know exactly how to present your loan application to lenders that focus on the strengths, not the weaknesses, of your application.
How can a mortgage broker help me?
Our mortgage brokers understand that IT consultants:
By choosing the right lender, you’ll have a better chance of getting approved, so call us on 1300 889 743 or complete our free assessment form to discuss your situation with us today.
[wbcr_snippet id="74833"] ) [2801] => stdClass Object ( [post_id] => 98032 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
Do you qualify for a discounted interest rate or waived LMI?
Give us a call on 1300 889 743 or fill in our free assessment form to find out more.
) [2802] => stdClass Object ( [post_id] => 98033 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>As a legal professional, you could qualify for a home loan with waived LMI and discounted interest rates.
Give us a call on 1300 889 743 or fill in our free assessment form to find out more.
) [2803] => stdClass Object ( [post_id] => 98052 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>If you need extra funds during construction, we can help you out after assessing your scenario and needs.
To talk to a mortgage broker that specialises in half-built home loan, please enquire online or call us on 1300 889 743.
[wbcr_snippet id="72900"] ) [2804] => stdClass Object ( [post_id] => 98056 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Discovering the right home loan tenure involves carefully assessing your financial situation, goals and risk tolerance. Our expert team is ready to support you in making an informed decision that seamlessly aligns with your long-term vision.
To experience a mortgage process infused with care and expertise by one of our Home Loan Experts, reach out to us at 1300 889 743 or enquire online.
) [2805] => stdClass Object ( [post_id] => 98059 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Single income? Don't let that stop you from owning your dream home! We are known for getting approvals for tough loans, even for single-income borrowers. Our experts will guide you through every step of the process, from pre-approval to closing, and help you get matched with the perfect home loan for your single income. Call us at 1300 889 743 or fill out our free online assessment form, and we’ll contact you. Act now!
) [2806] => stdClass Object ( [post_id] => 98060 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => Remember, the best time to act was yesterday; taking action today is your next best choice. This holds true in the realm of real estate as well. There's always a right time to invest in a home. The ideal time is when you're financially prepared. Home Loan Experts is here to help you. Our team of mortgage brokers knows a lot about buying homes and has helped many people purchase their first home. We'll help you from the beginning to the end. Ready to make your move? Contact Home Loan Experts today at 1300 889 743 or enquire online for free. ) [2807] => stdClass Object ( [post_id] => 98075 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
This is a very trying time for homebuyers coming out of their fixed-rate mortgages, and we have been helping customers traverse the mortgage cliff. If you are worried, call us at 1300 889 743 or fill in our free online assessment form, to speak with one of our expert brokers today!
) [2808] => stdClass Object ( [post_id] => 98100 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Selling your house can be a tedious process. But if you pay attention to the details covered above, you’ll be well positioned to make the sale at the most advantageous time. For more assistance, call Home Loan Experts at 1300 889 743 or enquire online, so our brokers can help you.
) [2809] => stdClass Object ( [post_id] => 98104 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>How Do I Get A Home Loan Approved With My Income?
Prove To The Lender You Can Make Repayments
Demonstrate to the lender that you have a good grasp of your financial situation.Improve Your Credit Score
A bad credit home loan will have a higher interest rate than a standard home loan. A good credit score improves your chances of approval. If your credit score is low, try to improve it before you apply for a home loan. Do not apply for more credit in the lead-up to getting a home loan.Buy What You Can Afford
It can be tempting to buy in the most popular areas. However, property prices for these suburbs are too high for most. Expand your search towards outer suburbs or even regional areas if capital cities are too expensive. Get pre-approved for a home loan, so you’ll know what you can afford.Buy With A Small Deposit
Even if you have not saved up a 20% deposit, you can still get approved for a home loan. In most cases, you have to pay Lenders Mortgage Insurance (LMI) if your deposit is less than 20%. However, there are circumstances where you don’t need to pay LMI at all. Going for low-deposit home loans is a great option to enter the property market now, instead of waiting for property prices to fall.Look Beyond Traditional Banks
Remember, the home loan products of major banks tend to have strict lending criteria. Other lenders can help if you have a low credit score, are self-employed, or earning income in a foreign currency. Tip: Take the help of a mortgage broker who has a wide range of lenders on their panel. A mortgage broker will help you get approved for the right home loan from the right lender.It’s important to note that your income is not the only factor that determines if you get approved for a home loan. Your deposit, credit score, etc are also assessed. Do not forget the costs involved when buying a home. At Home Loan Experts, our mortgage brokers are here to help every step of the way. Call us on 1300 889 743 or enquire online. ) [2810] => stdClass Object ( [post_id] => 98106 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>
We have experts who can help you find a suitable option when it comes to buying a property. If you’re undecided about a rent-to-own home or want to seek an alternative, we can assess your situation!
If you'd like to learn more about how we may assist you with your home loan, give us a call at 1300 889 743 or complete our free assessment form. Our mortgage brokers will assist you in obtaining the best possible rates!
[wbcr_snippet id="73063"] ) [2811] => stdClass Object ( [post_id] => 98118 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>How To Find A Private Mortgage Lender
Looking for the right bank on your own is time-consuming, and you might end up with a home loan that’s not the right fit for you. That’s why it’s good to take the help of an expert mortgage broker.
At Home Loan Experts, we have access to more than 50 lenders. We help you through settlement and beyond so you get a competitive interest rate and convenient features for your home loan. These are just a few of the reasons a mortgage broker is better than a bank. Give us a call on 1300 889 743 or enquire online today.
[wbcr_snippet id="73164"] ) [2813] => stdClass Object ( [post_id] => 98125 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>There are so many variable factors to consider to know if building a house or buying is the right choice for you.
Remember, there is a difference between buying a new home and buying an old one.If you buy an established home, you do not get first home buyer benefits or stamp duty concessions and it also comes with higher maintenance costs than new homes.
On the other hand, if you decide to build a home, you have to factor in the costs of clearing the site, landscaping, soil tests, etc. Also, unexpected costs can arise during site preparation that are not covered in your building contract. The budget you have will restrict what you want to install and you might not get the fixtures and fittings you had planned.
With newly released vacant land lots, land registration takes time, which extends the timeframe for purchase settlement and eventually the build. It could take a year or two for the completion of the home. In the meantime, continue to pay your rent which is dead money; if your rent is $450 a week, this is an annual total of $23,400. Over two years, it’s $46,800.
Costs are just one of the many factors to consider when deciding whether to buy or build, however, as you need to assess your present and future needs. While an established home gives you convenience, building a house gives you the advantage of personalisation. With passive designs and the use of better building materials and energy-efficient systems, you can save on energy bills.
It may come down to your preferred location and the must-haves of your perfect home. If you can make a few compromises on features and need a good location near the city, an established property might be a safer bet. If you already own land and have a reliable builder, you may do well building your dream home.If you’ve made the decision to build or buy your home, our mortgage brokers can help to find the right mortgage to finance your dream. Call us on 1300 889 743 or complete our free assessment form.
[wbcr_snippet id="73269"] ) [2814] => stdClass Object ( [post_id] => 98127 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>The average home loan sizes in Australia keep changing, month to month, and are different depending on the current property values.
For expert assistance, thorough research and proper evaluation, contact our mortgage experts at Home Loan Experts.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2815] => stdClass Object ( [post_id] => 98130 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Apart from these strategies, comparing offers from different lenders and researching what works with them is also a good way to improve your chances of home loan approval.Home Loan Experts’ specialist brokers can assess your situation and do the research for you, to help make your home loan application as strong as possible.Give us a call on 1300 889 743 or fill in our free online enquiry form.
) [2816] => stdClass Object ( [post_id] => 98132 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Due to the aggressive interest rates of non-banks, it may seem like a no-brainer to choose a non-bank lender for your home loan.
They offer flexible interest rates and lower fees on their home loan products. Furthermore, traditional banks have been forced to respond to their fierce competition by lowering their interest rates as well.
However, interest rates are one of the many facets you should look into when choosing a lender.
You also have to take into consideration the following points before choosing a non-bank lender:
) [2817] => stdClass Object ( [post_id] => 98139 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] => A town planner can assist you through the application process and help you comply with the local assessment requirements. Town planners often liaise with local councils on a regular basis so they tend to have a clear idea whether the changes you’ve requested will be accepted or not. They can give you a good indication of your chances of success before you spend considerable time and money pursuing it. Hiring a town planner is done on a consultation basis where the town planner charges by the hour. While they can be helpful, they can also be costly.
Real-life examples of property rezoning
Rezoning multiple units on one title
When rezoning changes were announced for properties on the north of Derby Street in Penrith, property values doubled overnight. Specifically, it allowed for six-storey blocks to be constructed, up from two-storey blocks. This increased the value of these properties from an average of $600,000 to $1 million. Another example is in Sydney’s inner west, where a 1,000 square metre block of land was rezoned from industrial to eight-storey apartments. This saw the land value increase from $2 million to $10.7 million. Do you need a loan to buy multiple units on one title? Speak with one of our specialist mortgage brokers by calling us on 1300 889 743 or by completing our free assessment form. ) [2818] => stdClass Object ( [post_id] => 98153 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Have you reduced your credit limit or cancelled your card completely and still can't borrow the amount you need?
Call us on 1300 889 743 or complete our online enquiry form and we can let you know which lenders can help.
[wbcr_snippet id="73067"] ) [2819] => stdClass Object ( [post_id] => 98160 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>As with any mortgage application, if the bank valuation comes in low, then the loan may be declined. This means that you may be unable to complete your divorce settlement and successfully divide the property. So how can you control the bank valuation?The simple answer is that you can’t. However, as a mortgage broker, we have the ability to order valuations with several lenders before submitting a full application.You can then apply with the lender that has the most favourable valuation.
In the past, the only way to obtain multiple valuations was to put in multiple applications at the one time.If you were to do so nowadays, you’d most likely fail credit scoring for all the lenders that you applied with due to the high number of enquiries on your credit file.As such, your loan application would ultimately be declined.
Please call us on 1300 889 743 or enquire online to find out how we can help you obtain an upfront bank valuation.
) [2820] => stdClass Object ( [post_id] => 98165 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>We're construction loan specialists that can turn the complexities of the process into a smooth and stress-free experience for you.
Call us on 1300 889 743 or complete this easy online enquiry form today.
) [2821] => stdClass Object ( [post_id] => 98168 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Our credit specialists have many years of experience in the mortgage industry.
We have mortgage brokers who have dealt with numerous construction loan applications including people who are borrowing against land equity.
Tell us about your situation and loan needs by calling us on 1300 889 743.
If you’d like one of us to contact you instead, you can enquire online for free, and we’ll get back to you in 24 hours.
) [2822] => stdClass Object ( [post_id] => 98186 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Are you looking for a better alternative to private banking? Please call us on 1300 889 743 or enquire for free online and our mortgage brokers can assist you with your home loan, commercial loan and business loans. We can access competitive products and negotiated pricing from a range of lenders.
[wbcr_snippet id="72752"] ) [2823] => stdClass Object ( [post_id] => 98195 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>Your LVR is an important consideration for lenders. You can seek the help of a mortgage expert to find out what loans you are eligible for.
Please complete our free assessment form or contact us on 1300 889 743 and our mortgage brokers will provide you with expert guidance on the LVR of your loan.
) [2824] => stdClass Object ( [post_id] => 98202 [meta_key] => add_site_layouts_8_post_editor_option [meta_value] =>We're committed to complying with all regulatory legislation and we endeavour to find our customers the best loan product available. We appreciate any comments, compliments or complaints you may have that can help us improve our processes.
Please contact us on 1300 889 743 and direct your feedback as follows:
What is negative gearing?
Negative gearing is when you borrow to invest in property then end up making a loss at the end of the year. This usually happens because your interest and running costs exceed your investment income. However, you’re allowed to claim the net loss as a tax deduction against your income.
As an investors, you can benefit from getting into the market early and increasing their investment income to cover costs.
This strategy is suitable for any investor earning a high taxable income as the holding costs of a property are generally outweighed by the capital gains and tax benefits.
What are the ongoing costs associated with property investing?
There are certain costs that you will need to pay once you own the property, such as:
Did you know some of our lenders offer purchase cash backs for property buyers? This can help you offset some of the costs when buying a property.
You can refer to our investment loans page to find out more about these costs.
What can I use an investment loan for?
You can use an investment loan to invest in pretty much anything, as long as they’re legal and you can afford it.
Generally, you can use an investment loan to invest in property, shares, managed funds, options or business.
Still wondering if you want to buy with cash or mortgage?
You can call us on 1300 889 743 or complete our free online assessment form and speak with our brokers about which can be more beneficial, cash or mortgage.
[wbcr_snippet id="72378"] ) [2826] => stdClass Object ( [post_id] => 47071 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Industrial to residential rezoning
In 2012, the Port Phillip city council adopted the Montague Precinct Structure Plan (with changes). The plan provided a framework for the renewal of the Montague precinct to allow for both industrial use and residential development. When a property has multiple zonings, this is known as a mixed use zoning. Land prices in Montague almost doubled when the changes were announced. To find out if you qualify for a mixed use property home loan, please give us a call on 1300 889 743 or you can fill in our free online assessment form.Rezoning agricultural land to residential zoning
The inclusion of agricultural land within the urban growth boundary of Melbourne raised the value of that land from below $35,000 a hectare to over $300,000 a hectare.) [2827] => stdClass Object ( [post_id] => 1055 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
There are many other situations where the lender may require a confirmation of employment letter.
We always try to discuss your situation with the lender’s credit manager before wasting your employer’s time in asking them provide a letter.
If you're having trouble drafting a suitable employment letter, please contact call us on 1300 889 743 or enquire online.
Our mortgage brokers specialise in unusual employment mortgages.
Still have questions? Feel free to comment below and we'll get back to you as soon as possible.
) [2828] => stdClass Object ( [post_id] => 3644 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Find out more
If you'd like to learn more about the NCCP Act and how it'll affect your home loan application, please call 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will get back to you within 24 hours. ) [2829] => stdClass Object ( [post_id] => 36234 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Get Help From Home Loan Experts
At Home Loan Experts, our mortgage brokers can access priority services with select lenders, including major banks. This means faster turnaround times, quicker approvals, and shorter settlement periods for your home loan. Call us on 1300 889 743 or complete our free online assessment form and discover how we can get your mortgage application approved faster and get you into your new property hassle-free.
) [2830] => stdClass Object ( [post_id] => 2296 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>What is a rental letter?
A rental letter is a letter from a property manager or selling agent that confirms the current market rent of a property.
It details all of the relevant particulars so that the banks know how much you'll be receiving from that property each week.
This way, they can calculate your anticipated income and determine if you'll be able to afford the loan.
How is rent determined?
The agent will inspect the property and estimate the potential or current rent income for the property by comparing it with similar investment properties in the area.
For example, if you own a two bedroom home in Burwood, the agent will look at homes similar to yours that are currently on the rental market.
Depending on the differences in features between both houses, the estimated market rent will be increased or lowered accordingly. Some agents will give a range instead of an exact figure to allow for the uncertainties and fluctuations associated with the rental market.
Apply for a home loan
We can talk to your agent directly to obtain a rental letter that meets the bank's requirements! Our mortgage brokers will help get your loan approved.
Please call us on 1300 889 743 or fill in our free assessment form to speak to one of our experienced staff who can help you apply for a home loan and take care of all the stressful paper work.
) [2831] => stdClass Object ( [post_id] => 83937 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Over the next three years, investors can set their eyes on a strong unit market for some capital cities. While homebuyers could rejoice at the fall in house prices, tighter credit conditions could still make getting approved for a home loan difficult. At Home Loan Experts, our mortgage brokers can help you throughout your home-buying or property investment journey. Call us on 1300 889 743 or enquire for free online. ) [2832] => stdClass Object ( [post_id] => 84407 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
The following lenders use Lenders Mortgage Insurance (LMI):
Although our Lenders Mortgage Insurance calculator doesn't take all of these lenders into account, you can expect that the LMI premium will be similar to the ones listed in the calculator results.
If you'd like an LMI quote for a specific lender then please contact one of our mortgage brokers on 1300 889 743.
) [2833] => stdClass Object ( [post_id] => 84754 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Speak with one of our specialist mortgage brokers for expert advice on equity loans by giving us a call on 1300 889 743 or enquire with us online. ) [2834] => stdClass Object ( [post_id] => 3452 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
If you follow these simple tips, requesting payment from your bank will be a simple, stress-free process:
Good luck with your new home from us at Home Loan Experts! If you wish to speak to someone about getting a construction loan, please call us on 1300 889 743 or complete our free assessment form and we can help you with your situation.
) [2835] => stdClass Object ( [post_id] => 33313 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Our mortgage brokers are experts in helping people with unusual ownership structures.
Call us on 1300 889 743 or fill in our free assessment form and we’ll get back to you with some options.
) [2836] => stdClass Object ( [post_id] => 43830 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Not satisfied with the interest rate or fees on your loan document?
Tweaking the loan agreement is possible!
However, approvals work on a case-by-case basis and depend on what you are negotiating on.
Further negotiations, after the lenders have released an unconditional approval letter, may result in the lenders reassessing your mortgage application and releasing a new unconditional letter.
All of this adds more time to the settlement process so your solicitor should communicate this clearly to the vendor their legal team.
Of course, you're best spending the time to make sure the home loan is right for you and you're getting a fair deal.
You'll potentially be paying the mortgage for many years to come!
Call 1300 889 743 or fill in our free assessment form to speak with a mortgage mortgage broker about getting pre-approval. ) [2837] => stdClass Object ( [post_id] => 410 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>If you’d like to purchase a studio apartment to live in or invest, please contact us on 1300 889 743 or fill in our free assessment form. Our specialist mortgage brokers know which banks will approve your mortgage. Speak to us today!
[sg_popup id=65221] ) [2838] => stdClass Object ( [post_id] => 43847 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>If you're applying for a home loan before you set up your trust then be aware that some lenders don't allow this.
Secondly, if the lender does allow this, then you should inform them of the proposed name in advance and make sure that this is exactly what you use when you set up your trust.
Please call us on 1300 889 743 or complete our free assessment form to speak with one of our experienced mortgage brokers.
We're experts in trust loans!
) [2839] => stdClass Object ( [post_id] => 64069 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>For a higher chance of getting approved for a home loan once you start a new job, here are some things you need to bear in mind:
On top of that, our expert mortgage brokers will help you apply with the right lenders, who will accept your unique employment status.
You can contact us on 1300 889 743 or fill in our free assessment form.
) [2840] => stdClass Object ( [post_id] => 33333 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Let Us Help You Get An Unbeatable Rate
Our mortgage brokers will negotiate a great interest rate on your behalf and ensure that you continue to get sharp interest rates throughout the life of your mortgage.
Call us on 1300 889 743 or fill in our free assessment form and we'll let you know what interest rates you can qualify for.
[sg_popup id=65221] ) [2841] => stdClass Object ( [post_id] => 73938 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => We can help! Our mortgage brokers have years of experience dealing with troubled lenders and can help you refinance to a better deal. We have a wide network of lenders who are willing to work with borrowers in different situations. Call us today on 1300 889 743 or enquire online and we’ll be happy to help you find the best refinancing option for your needs! ) [2842] => stdClass Object ( [post_id] => 35881 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Do you need help with getting a development loan or buying vacant commercial land?
Please call us on 1300 889 743 or fill in this free enquiry form to speak with one of our mortgage brokers about your development and construction plans.
[wbcr_snippet id="75463"] ) [2843] => stdClass Object ( [post_id] => 31878 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>If you need help in getting approved for a commercial loan for your trust, call us on 1300 889 743 or complete our free assessment form to speak with one our specialist mortgage brokers.
Although we can't provide advice or assistance in setting up a trust, we can help you get approved for a commercial property loan for your business.
Discover we can help you borrow up to the maximum Loan to Value Ratio (LVR) and qualify for competitive commercial interest rates.
) [2844] => stdClass Object ( [post_id] => 43236 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Speak to one our specialists on 1300 889 743 or enquire online today and we can find out which lenders can offer you amazing home loan discounts just because of your profession. ) [2845] => stdClass Object ( [post_id] => 35633 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Discover if you qualify!
Call us on 1300 889 743 or complete our online enquiry form to speak with one of our specialist mortgage brokers.
[wbcr_snippet id="75754"] ) [2846] => stdClass Object ( [post_id] => 47981 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Simply call 1300 889 743 or fill in our online enquiry form to get started today. We can guide you through a range of other business and commercial loan solutions depending on your needs. ) [2847] => stdClass Object ( [post_id] => 59758 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => We know lenders that might be able to help medical interns and residents borrow up to 90% with no LMI. Buy your dream home sooner or start building your property portfolio by calling us on 1300 889 743 or filling in our free assessment form. [wbcr_html_snippet id="73985"] [wbcr_snippet id="74081"] ) [2848] => stdClass Object ( [post_id] => 70396 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => This saves $553 each month while keeping debts under control Caution: Debt consolidation means that the repayment term stretches for over 30 years, which costs more over time.Is It Worth It To Refinance?
Yes, it is worth it to refinance if you can lower your interest rate to save money in the long term. While refinancing can cost money at first, your long-term savings usually outweigh the cost of refinancing. You have to make sure you achieve your financial goal of saving money through refinancing. However, there are situations where it’s not worth it to refinance.When is refinance not worth it?
At Home Loan Experts, we take care of the legwork, so refinancing is straightforward and easy for you. We will refinance your home loan to a competitive rate so you save more throughout the life of the loan. Call us today on 1300 889 743 or enquire online today. [wbcr_snippet id="71978"] ) [2849] => stdClass Object ( [post_id] => 27380 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
If your friends, colleagues or any other third party agree to gift you a deposit, most banks may not accept it.
This is because lenders want to avoid the case of fraud as much as possible. When a third party other than your immediate family member is involved, then it is quite possible that this person may not have gifted you the money for the deposit, but lent you the money instead.
If you’re in a situation like this, please give us a call on 1300 889 743 and or complete our free online assessment form we can help you find a lender who will accept it.
) [2850] => stdClass Object ( [post_id] => 23425 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Is your mortgage broker an expert? Many of our mortgage brokers have worked for in the credit departments of banks as the person actually approving or declining loans. We also have some brokers with significant experience in financing large commercial transactions.
We'll compare your situation to our lenders' policies and then present you with a comparison of several commercial loans so that you can decide which lender is best for you.
Call us on 1300 889 743 or fill in our free assessment form to find out where you stand.
) [2851] => stdClass Object ( [post_id] => 486 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Borrowing money for a company title unit is not as straight forward as getting a home loan for a normal apartment.
By working with a specialist mortgage broker, you can find out who will lend you the maximum loan amount based on your situation.
You may even quality for an interest rate discount.
Please enquire online or call one of our mortgage brokers on 1300 889 743 to discover if you qualify for a company title mortgage.
Low doc loans are available for some types of company title properties depending on your situation and the location, saleability and legal structure of the title.
[wbcr_snippet id="73494"] ) [2852] => stdClass Object ( [post_id] => 69441 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Can I Get A Home Loan If I Have Bad Credit?
Yes, you can. In most cases, it's a two-step process. The first step is to apply with a specialist lender who will approve your home loan application. Once your credit score improves, the second step is to refinance to the cheapest lender possible. Choosing the right lender and home loan from the onset is essential. Take the help of professionals, like the mortgage brokers at Home Loan Experts. Call us on 1300 889 743 or fill in our no-obligation assessment form today.) [2853] => stdClass Object ( [post_id] => 34954 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Make your business dreams a reality! Call 1300 889 743 or fill in our online assessment form to speak with one of our mortgage brokers.
) [2854] => stdClass Object ( [post_id] => 31008 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Three parties are directly involved in the factoring process. This includes you (the business), your debtors and the lender (factor).
You're essentially selling your invoices to the lender at a discount. The lender will then advance you a percentage of the funds. Once all invoices are paid, you'll receive the balance amount minus the lender's fees.
If you're confused about anything or planning to apply, please speak with one of us today. We have mortgage brokers that know which lenders provide factoring facilities. We can also help you make your application stronger so you can qualify for a better deal.
You can speak with one of our mortgage brokers by calling us on 1300 889 743. You can also simply fill in our free online assessment form and one of us will contact you instead.
) [2855] => stdClass Object ( [post_id] => 35490 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>You can find more about information about buying and managing a storage unit on the SSAA website.
To find out if we can get you approved for a storage unit loan, speak with one of our mortgage brokers by calling 1300 889 743 or by filling in our free assessment form today.
[wbcr_snippet id="75726"] ) [2856] => stdClass Object ( [post_id] => 31897 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Are you doing some research on starting your own business?
We're not accountants so we can't provide you with financial advice.
In fact, it's essential you speak to a financial professional like an accountant or financial advisor before making a decision to start a business and deciding whether a company business structure is the right ownership you need.
What we can help you to do is qualify for a commercial property loan so you can buy a freehold property so you can starting trading, whether you sell products or supply services.
Call us on 1300 889 743 or complete our free assessment form to find out if you qualify for a commercial loan.
) [2857] => stdClass Object ( [post_id] => 45485 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our online enquiry form and we can let you know if we can get your approved for a home loan.
We're experts in getting home loans approved for properties with high tension power lines over or near the property.
[wbcr_snippet id="73374"] ) [2858] => stdClass Object ( [post_id] => 46958 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>SMSF lending is a very specialised area for banks. Many of them often make mistakes, and it is common to experience delays in approvals.
We will make the process smooth and simple!
Call us on 1300 889 743 or fill in our free assessment form and we can help refinance a private loan to an SMSF.
) [2859] => stdClass Object ( [post_id] => 327 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>We are mortgage brokers who specialise in guarantor-supported home loans. We can quickly assess your situation, work out which lenders can approve your application and which loans would be the cheapest for your situation.
Our additional free services include reminding you when it may be possible to remove the guarantee and discussing the proposed loan with the guarantor to make sure that they understand and are comfortable with it.
To talk to a mortgage broker specialising in guarantor-supported lending please enquire online or call us on 1300 889 743.
) [2860] => stdClass Object ( [post_id] => 74587 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => A home is one of the biggest purchases you will make in your life. Lenders want to assess as much relevant information about you as possible before approving you for a loan. Home Loan Experts’ mortgage brokers can help you find the perfect solution and get approval from lenders. Speak to our award-winning mortgage brokers by calling 1300 889 743 or fill in our free online assessment form and we can help you to find out if you are eligible for a home loan today! ) [2861] => stdClass Object ( [post_id] => 54290 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Our mortgage brokers are experts at understanding the lending criteria and policies of banks and non-bank lenders who cater to self employed borrowers.
They are up-to-date with the latest lending policy changes for self employed borrowers due to COVID-19.
Call us at 1300 889 743 or fill in our free assessment form. We are working safely from home and are happy to help you.
) [2862] => stdClass Object ( [post_id] => 76378 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>You can check out our shared equity scheme page to find out about other schemes. You can reach us at 1300 889 743 if you have any questions or fill out our free online assessment form and we’ll get back to you as soon as we can.
) [2863] => stdClass Object ( [post_id] => 156 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Enquire online or call us on 1300 889 743 and we will find the loan that is right for you! We have several no doc lenders that can assist professional investors and self employed borrowers without ABNs.
[wbcr_snippet id="71861"] ) [2864] => stdClass Object ( [post_id] => 36219 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>By speaking with the key decision-maker at the lender, you have a much better chance of getting approved for a residual stock loan.
We have strong relationships with a number of specialist lenders and can negotiate a strong deal on your behalf.
Call one of our experienced brokers on 1300 889 743 or tell us a little about your development by completing our online enquiry form.
[wbcr_snippet id="75750"] ) [2865] => stdClass Object ( [post_id] => 69979 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => (Note the substantial drop in LMI as LVR declines from 91% to 90%.)
Use our LMI calculator to see how much you can save with waived LMI, then call our mortgage brokers to find out if you qualify. Call us on 1300 889 743 or enquire online
.) [2866] => stdClass Object ( [post_id] => 42098 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Call us on 1300 889 743 or fill in our free assessment form and we can help you get a great deal on an investment loan.
We understand investment strategy and can help you get the right loan to support your long-term financial goals.
We also recognise the desire for young borrowers to own a place of their own.
Try the rent vs buy calculator and discover more about the long-term benefits of home ownership.
[wbcr_snippet id="72282"] ) [2867] => stdClass Object ( [post_id] => 30248 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Equifax score is relatively accurate and predicts high risk borrowers well. This is why many lenders have Equifax's score fed directly into their own scorecard that’s used to assess loan applications.
Credit checking also fulfils the requirement of responsible lending set by the National Consumer Credit Protection (NCCP) act.
However, even if you're assessed as a high risk borrower, it doesn't mean that you can't make your payments. There are lenders that may consider other aspects of your loan application if you have a low credit score.
Our mortgage brokers know which lenders can assess your application favourably.
Call us on 1300 889 743 or complete our free online assessment form and we can help you even if you have a low Equifax score.
) [2868] => stdClass Object ( [post_id] => 34207 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
We can't tell you whether you should fix your home loan or not but what we can do is properly assess your situation and let you know if you're in a position to refinance.
The official cash rate is at a new historic low which is why we're seeing many homeowners choosing to lock in for longer terms.
Our goal with refinancing is to put you in a better financial position, whether it's by negotiating special interest rate pricing with your current bank or shopping you around to other lenders.
Call us on 1300 889 743 or complete our free assessment form to find out if you can refinance your mortgage and take advantage of this latest RBA rate cut.
*Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Each comparison rate is calculated based on $150,000 over 25 years for a secured loan.
) [2869] => stdClass Object ( [post_id] => 76833 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
You can get a home loan with bad credit. But it may pose some challenges. Don’t let your bad credit history hold you back. Home Loan Experts’ specialist mortgage brokers can help borrowers with complex applications get approved for a home loan. Talk to us about your situation. We will look at the options and find a lender who’s likely to approve you. Call us on 1300 889 743 or fill in our free online assessment form today!
) [2870] => stdClass Object ( [post_id] => 54140 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>The following employment types are acceptable:
The following employment types are considered on a case by case basis:
You can call our mortgage brokers on 1300 889 743 or submit an online enquiry and we'll contact you to discuss your eligibility.
) [2871] => stdClass Object ( [post_id] => 208 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will contact you to discuss your options.
) [2872] => stdClass Object ( [post_id] => 3847 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
When you're considering buying a property below market and it's not from your parents, it's important to do some research before you purchase.
Some sellers need a quick sale for genuine reasons while others may be selling the property where there have been problems with the house.
The most common type of property that has no problems with it, yet is sold below market value, is when a bank is foreclosing on a property.
It's also advisable to further negotiate. Generally, the seller will be more flexible, especially where a quick sale is imperative.
If you're looking to buy a property below market value and need a home loan, please call us on 1300 889 743 or enquire online and one of our mortgage brokers can help you to finance your purchase.
) [2873] => stdClass Object ( [post_id] => 33685 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Whether you're looking for a unique way to generate a second source of income or you simply want to own your own little slice of heaven, call us on 1300 889 743 or complete our free assessment form to speak with one of our holiday home loan specialists.
We can let you know if you qualify and how much you can borrow.
[wbcr_snippet id="73503"] ) [2874] => stdClass Object ( [post_id] => 23472 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Our mortgage brokers are specialists in SMSF loans and know which banks can approve your loan and give you a low interest rate.
Call us on 1300 889 743 or fill in our free assessment form to find out if you can buy a commercial property in your SMSF.
) [2875] => stdClass Object ( [post_id] => 19347 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
If you purchase the B&B as a residential property, you’ll need a 10-20% deposit and around 5% of the property value to cover stamp duty and legal costs.
However, we can help you secure your loan with no deposit if you have a guarantor.
In this way, you can borrow up to 105% of the purchase price with some of our lenders.
Call us on 1300 889 743 or fill in our free online assessment form to find out more.
) [2876] => stdClass Object ( [post_id] => 53383 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Our mortgage brokers are working from home and are available to help in anyway possible during this pandemic.
Please call us on 1300 889 743 or fill in our free assessment form; or directly email your mortgage broker.
) [2877] => stdClass Object ( [post_id] => 27216 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Basic loan discounts as well as professional package discounts are available. You may also qualify for a significant interest rate discount below the bank standard variable rate.
Call us on 1300 889 743 or complete our free assessment form to speak with one of our expert mortgage brokers who know the policies of more than 40 lenders on our panel.
) [2878] => stdClass Object ( [post_id] => 60470 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Our mortgage brokers can help sonographers and radiographers get a home loan with waived LMI. Call us on 1300 889 743 or enquire online to see if you qualify. [wbcr_snippet id="74066"] ) [2879] => stdClass Object ( [post_id] => 278 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Call us on 1300 889 743 or enquire online and one of our mortgage brokers will contact you to discuss your options.
) [2880] => stdClass Object ( [post_id] => 54727 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>The income caps to qualify for the grant are:
There is no limit to the number of people who can get the grant, but it is only available until 31 December 2020. It has now been extended to 31 March 2021. Contact our mortgage brokers on 1300 889 743 or complete our free assessment form to see if you are eligible for HomeBuilder and to get pre-approved for a home loan today.
) [2881] => stdClass Object ( [post_id] => 35500 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Speak with one of our experience mortgage brokers by calling 1300 889 743 today.
Alternatively, complete our online enquiry form and we'll get back to you with some lender recommendations.
) [2882] => stdClass Object ( [post_id] => 25864 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
If you pay fortnightly, you're actually making extra repayments.
How?
There are 12 months in a year, meaning 12 monthly repayments. However, there are 26 fortnights in a year, meaning two extra repayments per year if you pay fortnightly.
Through those extra repayments, you can pay off your mortgage faster and save heaps on interest. You can pay monthly and just make extra repayments to get the same effect.
If you match your repayment dates to your payday, you can also avoid missing payments.
Want to separate fact from fiction?
Give us a call on 1300 889 743 or fill in our free assessment form and speak to one of our experienced mortgage brokers.
We understand home loans and we can give you the right guidance in choosing a product that works for you.
) [2883] => stdClass Object ( [post_id] => 37938 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Whether you're looking to buy a home or refinance your current mortgage to consolidate some debt, we can help!
Please call us on 1300 889 743 or complete our online enquiry form so we can assess your situation and find you a home loan solution that's right for you.
[wbcr_snippet id="73725"] ) [2884] => stdClass Object ( [post_id] => 20767 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Don’t just accept what your bank has offered you! You’d be surprised what we can do by negotiating with the right banks!
Check out our commercial interest rates, give us a call on 1300 889 743 or fill in our free assessment form to find out what we can do for you.
) [2885] => stdClass Object ( [post_id] => 55394 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>If you’re still confused about whether to pay LMI upfront or capitalise it to your loan, we’re here to help.
Our mortgage brokers work with over 40 lenders.
They can help you find lenders who offer lower LMI premiums or workshop different deposit and loan amounts so you reduce the amount of LMI paid.
Please call us at 1300 889 743 or fill in our free assessment form.
) [2886] => stdClass Object ( [post_id] => 9192 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Foreigners living overseas often invest in property in Australia. They may also purchase property for a friend or relative to live in. They commonly look for Melbourne or Sydney real estate, or properties along the East Coast. People from the United States (US), Singapore, Mexico and the United Kingdom (UK) are those most commonly interested in investing in Australian property.
In order to apply, you need approval from the Australian Government agency, the Foreign Investment Review Board (FIRB). Once you have their approval you are then legally allowed to apply for a foreign mortgage in Australia.
If you are outside Australia and looking for an investment property with Australian foreign national lenders, you can contact us on +61 2 9194 1700 from 9am to 5pm Sydney time (GMT +10), or enquire online and we will contact you.
From within Australia you may call 1300 889 743 or enquire online.
) [2887] => stdClass Object ( [post_id] => 72621 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Getting help from your parents to take out a home loan has advantages:
Make sure you and your parents seek legal and financial advice before choosing an option, as risks are involved in all of them.
At Home Loan Experts, our mortgage brokers are experienced in helping borrowers who sought help from their parents to get approved. Call us on 1300 889 743 or enquire online.
[wbcr_snippet id="73302"] ) [2888] => stdClass Object ( [post_id] => 44372 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>We highly recommend seeking financial advice before purchasing a property for your SMSF, ensuring that your bare trust structure is set up in your favour.
Please call us on 1300 889 743 or fill in our free assessment form if you'd like to apply for an SMSF home loan.
) [2889] => stdClass Object ( [post_id] => 53648 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Getting pre-approved now and being ready will be very important when the market opens up.
The time it takes for a lender to assess your loan application has increased, with one major bank already taking 20 days to do so, which could blow to 30 days once the market opens up.
And with interest rate the lowest they’ve ever been, it is an ideal time for borrowers with stable income to take advantage as the property prices will likely bounce back once the economy gains momentum.
To get pre-approved for a home loan, talk with one of our specialist mortgage broker by giving us a call on 1300 889 743 or by filling in our short assesment form.
) [2890] => stdClass Object ( [post_id] => 60959 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Call us on 1300 889 743 or fill in our free assessment form, and our experts will help you with your mortgage requirements. It doesn’t matter if you’re a first home buyer or an investor; spotting an emerging suburb could put you ahead in the property market and give you the best start on your property journey. Let us help you! [wbcr_snippet id="73144"] ) [2891] => stdClass Object ( [post_id] => 32551 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>It can be difficult to get approved for interest only repayments for a home loan that isn't for investment purposes.
Why? APRA is concerned about the lending practices of the banks and, under the NCCP Act, it could be argued that interest only repayments aren't always suitable for "owner occupied" home loans.
If you have a good reason to have interest only repayments then call us on 1300 889 743 or fill in our free online assessment form and we'll see if you qualify.
[wbcr_snippet id="74903"] ) [2892] => stdClass Object ( [post_id] => 44901 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Is your dream property on a limited title? We're experts in unusual property home loans! Call us on 1300 889 743 or fill in our online assessment form to speak with one of our highly experienced mortgage brokers today.[wbcr_snippet id="73500"] ) [2893] => stdClass Object ( [post_id] => 79166 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Consult with mortgage brokers who specialise in mortgage assistance. They can provide personalised guidance based on your specific circumstances and help you explore alternative options or resources that may be available to you. Our dedicated team of expert mortgage brokers is ready to rescue you and help you explore the options. Call us on 1300 889 743 or complete our free online assessment form today.
) [2894] => stdClass Object ( [post_id] => 52954 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>An auction can be a lot more stressful and riskier than a private sale.
Walk into an auction confidently by following these steps:
Step 1: Research
Buying your first home at an auction without prior research is like trying to cross a road blindfolded; you may succeed at crossing the road safely but will you take that chance?
Perhaps not!
So, do thorough research about the property. Since you will not know the exact reserve price, you will need to check and compare the past sales report for that property. You may also want to check out the neighborhood and the suburb, not just to calculate the possible property value but also to ensure that you’ve found the right property that suits your living standards.
Keep track of recent sales activity, clearance rates and price trends around that area. The upward trend in property sales and listings, price and clearance rate may be an indication of higher housing demand, and, thus, higher property value.
For instance, in the last week of February 2020, there were 2,444 properties listed for auction across all the capital cities in Australia with a preliminary clearance rate of 77.7%, according to CoreLogic data. In comparison, over the same week in 2019, auction listings were lower with only 2,293 properties going up for auction with a final auction clearance rate of merely 49.4%.
We recommend you refer to CoreLogic since they are the leading authority on property data. However, accessing those requires a fee. So, why not start with other sites like Realstate or Domain that also refer to the CoreLogic data.
A good way to go about researching properties is to go through property and suburb reports. We have subscribed to several property market and suburb reports. So we may be able to provide you free reports on a specific property and suburb. Please give us a call on 1300 889 743 or fill in our online enquiry form today in order to get your hands on one of those free reports.
Step 2: Get a feel for the auction
Before you even intend to bid at an auction, you may want to have a good sense of what actually happens at auctions.
Auctioneers often play with the psychology of the potential buyers to raise the stake as high as possible. They create a highly competitive atmosphere and most bidders succumb to it, thereby, bidding more and fast, pushing the property price up.
By observing several auctions, you will see through the hypnotic monotone of the auctioneer and the ego-fuelled biddings of the buyers. That way, you can be more objective and practical about buying a house at an auction.
Step 3: Assemble your team
Experienced property investors usually have a team of professionals guiding them.
Chances are you will be up against these investors at an auction. So, it is advisable that you also set up your own team of professionals.
Hiring their services will cost you additional money but they will ensure that you will buy your first home without any hassle at an auction.
The people that you ideally want to hire to help you out with an auction are:
We are specialist mortgage brokers with years of experience and proven track record in applying and settling tough home loans. If you would like us to help you with your home loan application, please give us a call on 1300 889 743 or complete our free, no obligation enquiry form, and one of our senior mortgage brokers will soon be in touch with you.
We also have an inspection checklist to guide you through the inspection process, and a list of recommended conveyancers, should you like to use their services.
Step 4: Get your pre-approval
A pre-approval is a free, conditional approval, which is an indication from your lender that they will approve your loan when you formally apply for a mortgage. It’s based on your income, assets, debts and liabilities.
If you want to bid for a house at an auction, you may want to get a written pre-approval first. It will tell you how much you can afford to spend so you can make an informed decision when bidding at an auction.
Also, it will make things easier when applying for a full mortgage later, if you’re the successful bidder.
Many buyers attending auction simply ignore getting a pre-approval, which may cause unwanted frustrations when it comes to securing the additional finance for the property. As a result, many of them end up forfeiting their 10% deposit.
Don’t risk losing your deposit at auction!
Our mortgage brokers have worked in the credit department for major lenders. They know very well which banks offer a reliable pre-approval and how to get them to fully assess your application.
Please complete our free assessment form or call us on 1300 889 743 and one of our mortgage brokers can make sure you get the finance you need to purchase a property.
Step 5: Order building and pest inspections
A major risk of buying at housing auctions is the uncertainty of the physical condition of the property.
To avoid unwanted hassle of repairs and pests, you need to arrange for building and pest inspections well before the auction date to ensure you have completed your due diligence.
While building reports cost several hundred dollars depending on the charm of the neighborhood, pest reports only cost a couple of hundred dollars.
But both might take around a week before you can get your hands on them so you might want to expedite all necessary inspections.
Ensuring everything is in the right order will help you save money on repairs and installation of unavailable utilities.
Finding safety hazards and missing utilities post-auction means you will be liable for them, not the seller.
Step 6: Get your minimum deposit ready
At the end of the auction, the successful bidder is promptly required to sign and exchange the contract of sale, and also pay a 10% of the property price as a deposit.
But before the fall of the hammer, it is quite impossible to predict the exact property value.
So, if you’re serious about bidding at an auction, you need to secure enough funds for the deposit. And, by enough, we mean more than 10% of the average median house price around the auction area.
The seller may agree to a partial-deposit, usually 5%, but that’s very rare, and needs a change in the contract of sale, which most sellers don’t normally prefer to do.
So, the only sure-shot way of securing your first home after winning an auction is to be able to make the deposit required by the contract.
You can make the deposit at an auction by:
You may want to have a conversation regarding this with the solicitor or the agent of the seller prior to the auction day.
) [2895] => stdClass Object ( [post_id] => 35000 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Discover if you qualify for an OPSM franchise loan by calling us on 1300 889 743 or by filling in our online enquiry form today.
) [2896] => stdClass Object ( [post_id] => 23243 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => We are experts in lending to physical therapists, and we know which lenders offer incredible home loan discounts including reduced interest rates and a 90% LMI waiver. Buy your dream home or rapidly build your property investment portfolio by calling us on 1300 889 743 or filling in our free assessment form.
[wbcr_snippet id="74146"] ) [2897] => stdClass Object ( [post_id] => 43805 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Check out the interest only versus P&I page to learn more about the benefits and drawbacks of each repayment schedule. P&I home loans come with much cheaper interest rates and it means we have much more negotiating power with the lenders. Speak with one of our interest only and investment loan specialists on 1300 889 743 or by completing our free assessment form today. ) [2898] => stdClass Object ( [post_id] => 53654 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Email your Home Loan Experts mortgage broker, call us at 1300 889 743 or fill in our free assessment form. Our team is working from home, and are ready to help you during these difficult times.
) [2899] => stdClass Object ( [post_id] => 26797 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Getting approved for a 90% investment loan comes down to presenting a strong case to the right lender, something our mortgage brokers do on a daily basis.
Let us help you get started in property investing!
Call us on 1300 889 743 or complete our free and easy assessment form today.
) [2900] => stdClass Object ( [post_id] => 1362 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Interest Rate Discounts
Get a 1.40% rate discount!
Did you know that one of our lenders has a special 95% plus LMI home loan available for low risk borrowers?
Give us a call on 1300 889 743 or fill in our free assessment form and we’ll help you to apply for a home loan with the lowest possible interest rate!
) [2901] => stdClass Object ( [post_id] => 84682 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Interest rate changes can impact your mortgage repayments. Our team of mortgage experts can analyse your current mortgage, explain the potential impact of Cash Rate changes, and explore options that offer more stability. We also have a handy repayment calculator to estimate your new repayments whenever your lender changes your loan’s interest rate.
Please call us on 1300 889 743 or complete our free online assessment form today!
) [2902] => stdClass Object ( [post_id] => 19726 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>A mortgage broker can help!
Call us on 1300 889 743 or fill in our free assessment form and we can provide you with a home loan health check.
[wbcr_snippet id="73156"] ) [2903] => stdClass Object ( [post_id] => 47931 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Simply call 1300 889 743 or fill in our online enquiry form to get started today.
We can guide you through a range of other business and commercial loans depending on your needs.
) [2904] => stdClass Object ( [post_id] => 75785 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>We can help you, too!
Arthur is one of our many happy clients and you can be, too. Discuss your financial situation with Home Loan Experts specialist mortgage brokers and they will help you to find the perfect solution, based on your objectives and requirements. Call us on 1300 889 743 or fill in our free online assessment form for expert advice.
) [2905] => stdClass Object ( [post_id] => 1475 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Depending on the lender, they may require you to commence the new job prior to issuing your formal loan approval. In other cases, if your income from your existing job is sufficient to repay the loan, they can approve your loan on that basis.
To discuss your situation with a specialist mortgage broker, contact us on 1300 889 743 or free assessment form today!
) [2906] => stdClass Object ( [post_id] => 33639 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Call 1300 889 743 to speak with one of our experienced commercial mortgage brokers or simply fill it our free assessment form and we'll get back to you soon.
[wbcr_snippet id="75730"] ) [2907] => stdClass Object ( [post_id] => 43799 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
The reality of what you actually achieve on a day-to-day basis may surprise you, but economists have known a simple truth for years.
The Pareto principle or '80/20 rule' proposes that 80% of your accomplishments come from 20% of your efforts.
For mortgage brokers, the 20% of your work that brings the highest payoff includes speaking with leads, assessing their situation, providing them with a home loan solution and turning them into a customer.
By outsourcing, you can prioritise your workload and delegate or outsource the work that is less dollar productive and have it completed at a fraction of the cost of Australian staff.
Are you ready to take the next leap within your mortgage broking business?
Call 1300 889 743 and ask for our outsourcing BDM to discuss your needs.
) [2908] => stdClass Object ( [post_id] => 71384 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Our specialist mortgage brokers will help you take the right steps as a young investor and dodge possible difficulties along the way. They can search among the 50-plus lenders on our panel to find the best possible option for a young investor. Talk to one of our expert brokers today! Call us on 1300 889 743 or fill out our online enquiry form.
) [2909] => stdClass Object ( [post_id] => 30404 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>If you don't qualify for waived LMI, you can still reduce your premium to a more reasonable amount.
To avoid a high LMI premium, you'll need to consider:
We know which lenders and mortgage insurers offer the cheapest LMI premiums. Please complete our free online assessment form or call us on 1300 889 743 to speak with one of our specialist mortgage brokers.
How can my deposit source change my LMI premium?
The standard LMI product of almost all mortgage insurers typically targets people that can show that they have a saved deposit. However, some lenders may also offer no genuine savings solutions.
The source of your deposit can change your LMI premium. Here's how:
Please note that different lenders have different policies regarding this. Some may have a set of premiums that apply to all borrowers while others may consider it depending on various factors.
) [2910] => stdClass Object ( [post_id] => 3526 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Before applying for your loan you should read our buyer's guide page and the relevant page for your residency status (e.g. temporary resident, permanent resident, foreign citizen living overseas or Australian citizen returning to Australia). Once you have determined that you may be qualified for a loan then enquire online or contact us via phone on 1300 889 743 or +61 2 9194 1700 from outside Australia between 9am and 5pm Sydney time (GMT +10) and one of our consultants will discuss the various options with you. Please note that we work with customers located anywhere in the world, as long as the property being used as security is located in Australia.
[wbcr_snippet id="74974"] ) [2911] => stdClass Object ( [post_id] => 35026 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Speak to a mortgage broker and we can help you weigh up the pros and cons of loan portability.
If you're planning to move soon and aren't sure what to do about your home loan, give us a call on 1300 889 743 or complete our free assessment form.
[wbcr_snippet id="72947"] ) [2912] => stdClass Object ( [post_id] => 45476 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Call us on 1300 889 743 or fill in in our online enquiry form and we can let you know how much you can borrow for your investment property construction loan.
[wbcr_snippet id="72279"] ) [2913] => stdClass Object ( [post_id] => 65579 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
While the lockdown has affected Australia’s property market, it has not come to a complete standstill. Interested buyers are still purchasing property via online auctions and booking private appointments for home inspections.
In fact, buyer’s agents are busy booking appointments and liaising with real-estate agents to get the right property for their customers, as supply is limited and demand is keeping prices up. Some sellers might be looking to close a deal quickly and you might get property at bargain prices. Once lockdown ends, the pent-up demand might leave you competing with even more people to buy your dream home.
Our mortgage brokers can help you figure out if you can buy a property during a lockdown. Call us on 1300 889 743 or complete our free assessment form.
) [2914] => stdClass Object ( [post_id] => 70232 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Get started on building your investment portfolio by contacting our specialist mortgage brokers at 1300 889 743 or fill in our online assessment form and we will contact you.
) [2915] => stdClass Object ( [post_id] => 66538 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>This is a list of suburbs where buying a house is cheaper than renting. However, just because it is cheaper does not mean it is better. Now more than ever, choosing the right property is critical. Like most opportunities in life, buying a house needs to align with your objectives. You may find your dream house in a suburb that is not as affordable as these. You can use our rent or buy calculator to help determine if you should go for that dream house or keep renting for now.
And to further help you with your home buying journey, we have just launched our Free Home Buyers Course. In under two hours, you can learn how to buy a house and avoid costly mistakes.
To discuss your situation with one of our Expert mortgage brokers directly, call us on 1300 889 743 or fill in our free assessment form.
) [2916] => stdClass Object ( [post_id] => 33181 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Not sure which lender is right for you? Our Home Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
) [2917] => stdClass Object ( [post_id] => 13842 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Please enquire online or give us a call on 1300 889 743 and one of our mortgage brokers will help you to work out which lenders you qualify with, and at what interest rate.
[wbcr_snippet id="75433"] ) [2918] => stdClass Object ( [post_id] => 14011 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>You'll simply need to provide a copy of your current contract so the banks are confident that you've been competing for some time and your income will be ongoing.
The contract should include the date of expiry.
To prove that your income is consistent, you'll also be ask to provide your most recent two years tax returns and a current payslip.
We can make the application process easy so please call us on 1300 889 743 or fill in our online enquiry form today.
) [2919] => stdClass Object ( [post_id] => 30457 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Unlike standard residential home loans, business loans can be a lot more complicated.
However, we have business mortgage brokers that have many years of experience in the industry and specialise in business loans. We can help you qualify for a better deal just by choosing the right lender for your business loan needs. We can also help you to manage your business finance.
You can speak with one of our mortgage brokers by calling us on 1300 889 743 or by completing our free online assessment form.
) [2920] => stdClass Object ( [post_id] => 32470 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>If you meet the requirements of notifying the government of your proposed purchase, you should submit your FIRB application before applying for a commercial loan.
You simply won't be able to go ahead with the purchase without getting a statement of no objection from the board so it will be a waste of your time applying for finance.
Be warned!
If you proceed with the transaction prior to getting FIRB approval, you could face heavy fines and the Treasurer may issue a disposal order to unwind the acquisition.
Fines can range anywhere from $45,000 to criminal penalties of up to $135,000 or 3 years imprisonment.
By following the right process and getting approved, we can then help you qualify for a farm loan.
Non-residents can actually qualify for the same interest rates and borrow up to 70% of the purchase price just like Australian citizens.
Give us a call on 1300 889 743 or complete our free assessment form to find out if you qualify for a farm loan.
) [2921] => stdClass Object ( [post_id] => 33417 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Does your property access bore water? Your bank not willing to lend you the amount you need?
Our mortgage brokers specialise in specialised and unusual property types and know which lenders have more lenient lending requirements.
You can discuss your personal situation and what features you want on your bore water property home loan with one of our credit specialists by calling us on 1300 889 743 or by enquiring online.
) [2922] => stdClass Object ( [post_id] => 30456 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Since there's not much consistency in SMSF business loan interest rates, it's recommended that you speak with a mortgage broker before accepting your bank quote.
Our mortgage brokers are credit specialists and can help you find the most competitive rates. Please call us on 1300 889 743 or complete our free online assessment form to get a free quote.
) [2923] => stdClass Object ( [post_id] => 7630 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Did you know some lenders have a discount if you pay the interest in advance?
You can save an additional 0.10% to 0.20% off of your interest rate simply by pre-paying the interest!
The banks do this because if the interest is pre-paid they don’t have a problem with their borrowers missing repayments.
Not every lender has special rates if you pre-pay your interest.
To find one that does, call us on 1300 889 743 or enquire online and our mortgage brokers will help find you the best deal based on your situation.
) [2924] => stdClass Object ( [post_id] => 68902 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>How Do I Get A Home Loan Approved With My Income?
Prove To The Lender You Can Make Repayments
Demonstrate to the lender that you have a good grasp of your financial situation.Improve Your Credit Score
A bad credit home loan will have a higher interest rate than a standard home loan. A good credit score improves your chances of approval. If your credit score is low, try to improve it before you apply for a home loan. Do not apply for more credit in the lead-up to getting a home loan.Buy What You Can Afford
It can be tempting to buy in the most popular areas. However, property prices for these suburbs are too high for most. Expand your search towards outer suburbs or even regional areas if capital cities are too expensive. Get pre-approved for a home loan, so you’ll know what you can afford.Buy With A Small Deposit
Even if you have not saved up a 20% deposit, you can still get approved for a home loan. In most cases, you have to pay Lenders Mortgage Insurance (LMI) if your deposit is less than 20%. However, there are circumstances where you don’t need to pay LMI at all. Going for low-deposit home loans is a great option to enter the property market now, instead of waiting for property prices to fall.Look Beyond Traditional Banks
Remember, the home loan products of major banks tend to have strict lending criteria. Other lenders can help if you have a low credit score, are self-employed, or earning income in a foreign currency. Tip: Take the help of a mortgage broker who has a wide range of lenders on their panel. A mortgage broker will help you get approved for the right home loan from the right lender.It’s important to note that your income is not the only factor that determines if you get approved for a home loan. Your deposit, credit score, etc are also assessed. Do not forget the costs involved when buying a home. At Home Loan Experts, our mortgage brokers are here to help every step of the way. Call us on 1300 889 743 or enquire online. ) [2925] => stdClass Object ( [post_id] => 36850 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Our team of mortgage brokers examine every detail of your unique situation, ensuring you're paired with a lender who doesn’t just see numbers, but understands your circumstances and aspirations.
With clear guidance, we help you break free from the barriers of HECS debt. Owning your dream home isn’t just possible, it's within reach. Let us show you how.
Call us on 1300 889 743 or fill in our online enquiry form. ) [2926] => stdClass Object ( [post_id] => 34958 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
If your SMSF trust income doesn’t show the full picture of your borrowing power, an SMSF low doc loan can allow you to borrow the amount you need to invest for your retirement.
Call us on 1300 889 743 or complete our free assessment form today.
) [2927] => stdClass Object ( [post_id] => 54095 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>If you’ve set your sights on a property you’d like to buy even during the pandemic, then our mortgage brokers can help you find the right home loan that suits your needs.
We are safely working from home and can help you with any questions you have regarding home loans. Call us at 1300 889 743 or get a free assessment.
) [2928] => stdClass Object ( [post_id] => 53050 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>No. Getting your credit report will not negatively impact your credit score. In fact, it may help you improve your credit score by helping you identify any errors or if your identity has been compromised.
If you have applied for credit in the past and been declined, it’s a good idea to check what your credit file and credit score look like.
Alternatively, you can send your credit file to us, so that we can assess your credit score for you. We provide a Credit Score Calculator as well.
When you apply for any loan, a lender will check your credit report, and that shows up as an credit enquiry. That in turn reduces your credit score.
However, as mortgage brokers we can check your credit score for customers who are applying for a home loan.
And if there are any red flags on your credit report, we’ll help you sort those out before submitting your home loan application.
To speak with one of our specialist mortgage brokers, please enquire online or call us on 1300 889 743.
[wbcr_snippet id="75443"] ) [2929] => stdClass Object ( [post_id] => 33013 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>If you need a cheap and easy cash flow solution, a business line of credit may be just what you need.
Give us a call on 1300 889 743 or complete this online enquiry form and one of our mortgage brokers will get in touch and let you know if you qualify.
We will find you a lender that will offer you the best interest rate and terms based on your situation.
Find out more about the business loan solutions that we can help you with.
) [2930] => stdClass Object ( [post_id] => 7020 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Building a brand new home with a unique design is becoming very popular with Australian home owners.
Many are looking for builders who offer unique, modern and contemporary building designs that will set them apart from regular homes.
A variety of building companies offer floor plans for unique homes so that owners can build their dream house.
However, as they are luxury homes, they can often be quite costly! If you are thinking of building this type of home, it is best to do some thorough research beforehand and work out a budget and a plan.
If you are not looking for a building plan, it is possible to consult a builder to have your house custom designed, with a floor plan to suit your individual taste. This way you can include the elements that you want your house to have.
With so many options available, designing your own unique home has never been easier.
Looking for a loan to purchase a unique luxury home? Call us today on 1300 889 743 or enquire online and we can help you get finance for up to 95% LVR!
) [2931] => stdClass Object ( [post_id] => 31017 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Call us on 1300 889 743 or complete our free assessment form and we can tell you if you qualify for a retail commercial loan.
) [2932] => stdClass Object ( [post_id] => 43265 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Do you want to know whether you qualify for an LMI waiver mortgage or a discounted interest rate?
If you’re a geologist or geophysicist working in the mining, energy or resources sectors and you're ready to apply for a home loan, please call us on 1300 889 743 or enquire online today!
[wbcr_snippet id="74085"] ) [2933] => stdClass Object ( [post_id] => 31064 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Call us on 1300 889 743 or complete our free assessment form.
We have the credit knowledge and relationships to match you up with a lender that will approve your Domino's franchise loan the first time around.
Our mortgage brokers can also get much faster turn around than going to a bank directly.
Speak to us about a Domino's franchise loan today!
) [2934] => stdClass Object ( [post_id] => 58791 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Get the best deal on your home loan with over 50+ lenders on our panel to choose from!
Speak with one of our award-winning specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our online assessment form.
) [2935] => stdClass Object ( [post_id] => 76748 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>It’s best to speak to one of Home Loan Experts’ specialist mortgage brokers to find out more information and eligibility of government schemes in each state and territory. If schemes don’t work in your favour, they can recommend the options that suit you best.
Call us on 1300 889 743 or fill in our free online assessment form to allow us help you own your home sooner.
) [2936] => stdClass Object ( [post_id] => 57996 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Our mortgage brokers are here to help you through your journey of buying your first home.
Whether you need help applying for the first home owners grant or going through the home loan process - we're here to help.
Call us on 1300 889 743 or fill in our free assessment form.
) [2937] => stdClass Object ( [post_id] => 68383 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Applying for your home loan through a mortgage broker makes the valuation process easier. Below are the reasons why ordering valuation through a broker is the best option available.If you are looking for a home loan and desire a hassle-free valuation process, we are always here to help.
Contact us on 1300 889 743 or enquire online today! [wbcr_snippet id="73287"] ) [2938] => stdClass Object ( [post_id] => 343 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Here's a quick overview of the investment home loan approval process:
Explore a detailed breakdown of each step in the loan process on our page on the Loan Application Process.
Count on us to make your loan journey worry-free, with expert help at each step. Call 1300 889 743 or get started with our free online assessment form.
) [2939] => stdClass Object ( [post_id] => 70925 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
If your deposit is not quite enough, here is what you can do:
To be ready to buy a home, it’s best to get pre-approved to see what you can afford. Talk to Home Loan Experts’ mortgage brokers today to get started on your home loan application! Call us on 1300 889 743 or enquire online today.
) [2940] => stdClass Object ( [post_id] => 33156 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Ready to buy your own private practice?
Call 1300 889 743 or complete our free assessment form to speak with one of our physiotherapy practice loan specialists today.
) [2941] => stdClass Object ( [post_id] => 10090 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => At the Home Loan Experts we specialise in mortgages for non-residents and temporary residents of Australia. We work with over 40 different lenders, which increases your chance of approval for a great loan with a competitive interest rate. Please call one of our experienced mortgage brokers on 1300 889 743 (when outside Australia call +61 2 9194 1700), or fill in our free assessment form so we can assess your situation. Are you thinking about investing in Australian real estate? Have a read of our buyers guide. It will help you understand what professionals you may need to consult and provide you with a guide on the buying process itself.) [2942] => stdClass Object ( [post_id] => 35278 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Speak to a specialist in low deposit and no deposit home loans.
Call 1300 889 743 or complete our online enquiry form and we can tell you if you qualify for a 3% deposit home loan.
) [2943] => stdClass Object ( [post_id] => 5405 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Our expert mortgage brokers will aim to find the right solution for you, no matter your income source! We deal with over 30 banks Australia-wide and can assist you in locating lenders that have lenient lending policies. Let us help you apply with a reputable lender that offers a competitive interest rate!
Please enquire online or call us on 1300 889 743 to speak to a mortgage broker who specialises in finding home loans for people who are retired and are on an allocated pension or annuity income.
) [2944] => stdClass Object ( [post_id] => 31894 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Although we can't provide with legal and tax advice, we can assist with getting a commercial loan to buy business premises.
Whether your current business premises are too small or you're operating from you or your partner's home, we can support your next growth phase by helping you qualify for finance to buy a commercial property.
We have relationships with a number of commercial lenders including the major banks and are in unique position to negotiate larger Loan to Value Ratios (LVRs) and reduced interest rates.
It all comes down to choosing the right lender and our extensive experience in putting together a strong application.
To speak with one of our commercial property loan specialists, call us on 1300 889 743 or complete our free assessment form today.
) [2945] => stdClass Object ( [post_id] => 3403 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => One of the most common reasons that people release their home equity is to roll all of their expensive unsecured debts into one low monthly repayment. The interest rate on credit cards ranges from 10%-30%, and for personal loans the rate can be anywhere from 9%-15%. By consolidating these debts into your home loan you can significantly reduce the ongoing repayments and save a small fortune in interest. If you wish to consolidate your debts with a major lender you must have made all of your repayments on time in the last month for your unsecured debts and on time for the last six months for your current home loan.Please enquire online or call us on 1300 889 743 to speak to one of our mortgage brokers who can assist you in getting approval.
) [2946] => stdClass Object ( [post_id] => 34253 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Call us on 1300 889 743 or fill in our online assessment form to speak with an insurance broking business loan specialist!
) [2947] => stdClass Object ( [post_id] => 56601 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Our mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home.
They can also clarify any questions you may have about the cost of stamp duty, transfer fees or the First Home Owner Grants
Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our free online assessment form to find out if you’re ready to buy.
[wbcr_html_snippet id="70801"] ) [2948] => stdClass Object ( [post_id] => 56952 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Given that stamp duty is one of the single biggest ticket item costs when buying a property, you may be able to add the stamp duty amount to your home loan - saving you from having to come up with that amount upfront. Give us a call on 1300 889 743 or complete our free assessment form to speak with one of our mortgage brokers regarding a suitable home loan.) [2949] => stdClass Object ( [post_id] => 20787 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Home Loan Experts’ mortgage brokers can assess your situation and work out whether you have a large enough deposit to buy a home. They can also answer any questions you may have about stamp duty, transfer fees or first home buyer grants.
To speak to our mortgage brokers, call 1300 889 743 or fill in our free assessment form to find out whether you're ready to buy.
) [2950] => stdClass Object ( [post_id] => 30589 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Professionally qualified and experienced mortgage brokers can help you prepare an acceptable exit strategy.
Our mortgage brokers know and understand the policies of the major lenders. They are credit specialists that know which banks have more lenient lending guidelines.
You can call us on 1300 889 743 or complete our free online assessment form and one of us will contact you to discuss your situation and loan needs.
[wbcr_snippet id="72756"] ) [2951] => stdClass Object ( [post_id] => 31248 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => We can fully assess your needs and financial situation and help you to make an informed decision when choosing a split mortgage. Call us on 1300 889 743 or fill in our free online assessment form to speak with a mortgage broker today.
) [2952] => stdClass Object ( [post_id] => 31680 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
What is negative gearing?
Negative gearing is the loss you make when your interest and running costs exceed the income you make from the investment.
Generally, you can claim the net loss as a tax deduction against your other income. Investors with high taxable incomes can benefit from the capital gains and other tax benefits, which usually outweigh the holding costs.
It's recommended that you seek independent financial advice before you decide to apply for a foreign investment in Australia.
What is capital gains tax?
Capital gains is the profit you make when you sell your property or investment. Capital Gains Tax (CGT) is a tax that is set off when you sell the property, usually at the date of the contract of sale.
The CGT is calculated by subtracting the cost of your base property with the capital proceeds that that you receive.
The proceeds also include the amount that the property was sold for. The cost base includes the amount that you paid for the property, as well as incidental costs, less building depreciation claimed over time.
For example, if you sold your property for $450,000 then your proceeds are $500,000.
Now, suppose you bought the property for $280,000, paid $2,000 of legal fees to buy, $20,000 of stamp duty, $2,000 of legal fees to sell, $10,000 commission for selling agents and claimed $6,000 of building depreciation at the end. Your cost base will be $320,000.
As such, their gross capital gain will be the proceeds less the cost base, that is, $130,000. However, if you owned the property for over a year then the net taxable capital can be halved. This means that you can only declare $65,000 in your tax return.
This amount is added to your regular income and the tax is paid accordingly.
Keep in mind that this is general information only. For professional tax advice, it's recommended that you seek assistance from a professional tax advisor such as Lucentor Pty Ltd before making any decision related to investment or their finances.
Do I have to lodge a tax return in Australia?
Yes, you'll need to lodge a tax return in Australia every year even if you're buying a foreign investment in Australia.
Luckily, this is quite easy to do.
It's important to ensure that your property manager keeps all of the records for how much rent you received as well as your expenses. They can then transfer these records to your Australian accountant who will prepare your tax return.
Does my employment status affect my chances of getting approved?
Certain lenders don't accept foreigners that are self-employed. Other than this, the employment status doesn't make a significant impact on getting approval.
However, you still need to show that you can affor your loan, irrespective of your employment status. Some lenders require you to be in a strong financial situation to even consider giving an approval.
What are the costs associated with property investment?
There are several fees and charges involved with foreign investment in Australia. Some of the most common costs include:
What discounts and loan features are available?
You can get the same features as other loans when you apply for a foreign investment in Australia:
You may be able to qualify for an investment professional package and basic investment discounts.
Our mortgage brokers are investment loan experts and can help you qualify for a great deal with a suitable lender.
Call us on 1300 889 743 (+61 2 9194 1700 if you're overseas) or fill in our free online assessment form to find out if you qualify today.
Australian expats are often put in a difficult position because of certain lending requirements set by Australian lenders. Common problems that Australian expats living in Singapore face include:
Fortunately, mortgage brokers at Home Loan Experts know exactly which lenders are favourable to Australian expats in Singapore. We are ready to help you through the process of home loan application – all the way through settlement and beyond!
Call us on 1300 889 743 (+61 2 9194 1700 if you’re outside Australia) or complete our free online assessment form to get a free assessment today.
) [2954] => stdClass Object ( [post_id] => 26280 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
The shortage of doctors almost creates a bidding process to attract and retain good quality doctors to a practice at the moment.
In saying that, it’s important to speak to a financial professional such as an accountant or financial adviser before jumping into a medical practice.
If you think you’re ready to take the next big step in your professional career, speak to one of our commercial mortgage brokers today.
We’re specialists in business loans for doctors and we know to build a strong case so you have the best chance of getting approved. Get a pre-approval before you start shopping around for your dream practice.
Call 1300 889 743 or fill in our free assessment form today.
) [2955] => stdClass Object ( [post_id] => 1357 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Yes, you can. In the following section, we’ve explained several ways you can get a home loan even with no genuine savings.Choose Lenders That Don’t Require Genuine Savings
No genuine savings home loans are available if you choose the right lender:We have experts who can help you find a suitable option when it comes to buying a property. If you’re undecided about a rent-to-own home or want to seek an alternative, we can assess your situation!
If you'd like to learn more about how we may assist you with your home loan, give us a call at 1300 889 743 or complete our free assessment form. Our mortgage brokers will assist you in obtaining the best possible rates!
[wbcr_snippet id="73063"] ) [2957] => stdClass Object ( [post_id] => 34103 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>One of the benefits of trade finance is that it's governed by the International Chamber of Commerce (ICC) which means you can get some peace of mind.
Are you sick of the strain that importing or exporting is putting on your cash flow?
Reduce your risk and get back to focusing on growing your business with trade finance!
Call us on 1300 889 743 or complete our free assessment form to speak with one of our business loan specialists about your business needs.
We have great relationships with a number of commercial lenders so we can often negotiate great terms and also help you manage multiple credit facilities.
) [2958] => stdClass Object ( [post_id] => 68464 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Generally, lenders will consider 80% of your gross rental returns along with other income, such as your salary, to calculate your borrowing power. However, every lender has its own way of assessing the rent you receive from your investment properties.
At Home Loan Experts, we can help you structure your investment loan to achieve your goals. Our brokers can calculate your rental yield for you and help you with your income strategy. Call us on 1300 889 743 or enquire online today.
) [2959] => stdClass Object ( [post_id] => 36956 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>When building your real estate portfolio, having a good mortgage strategy is just as important as having a good property investment strategy.
As we’ve mentioned above, having a current mortgage with someone else can seriously affect your borrowing power if you decide to buy real estate on your own.
Because there are less than a handful lenders that offer a common debt reducer as a solution, that means there is less opportunity to shop around and get a great interest rate.
It also means you won’t be able to spread your risk across multiple lenders so you avoid exceeding mortgage exposure limits.
Want to keep building your investment portfolio?
Call us on 1300 889 743 or complete our free assessment form to discuss your situation with one of our specialist mortgage brokers.
We can tell you if you qualify for a common debt reducer home loan and also help you build a good mortgage strategy for your investment portfolio.
[wbcr_snippet id="72391"] ) [2960] => stdClass Object ( [post_id] => 2684 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => The secret to getting approved is finding a lender that either doesn't credit score or has a scoring system that can accept your situation. Our mortgage brokers are credit scoring specialists. Please complete our free assessment form or contact us on 1300 889 743 and we can help you to get approved for your mortgage! ) [2961] => stdClass Object ( [post_id] => 202 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Call us on 1300 889 743 or enquire online, and one of our mortgage brokers will contact you to discuss your options. ) [2962] => stdClass Object ( [post_id] => 78552 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>If you are a first-home buyer and have decided to purchase a house or an apartment, we can assist you in finding your ideal lender with the best mortgage rates. And if you’re still uncertain, our experienced brokers are available to evaluate your circumstances and help you make the right decision. Call us on 1300 889 743 or fill in our free online assessment form form to get started.
) [2963] => stdClass Object ( [post_id] => 367 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>There are major lenders who can consider your home loan application while casually employed but the outcome depends on the specifics of your situation.
Non conforming and non-bank lenders may also be able to help with your finance application. Some of our lenders can accept people who've been casually employed for as little as 3 months!
Complete our free assessment form or call us on 1300 889 743 to speak with a specialist mortgage broker who knows which lenders can approve your home loan while you're casually employed.
) [2964] => stdClass Object ( [post_id] => 51279 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Have any questions regarding your new property or your home loan? We’re here to help! To speak with one of our award-winning mortgage brokers, please give us a call on 1300 889 743 or fill in our online assessment form. [sg_popup id=65221] [wbcr_snippet id="72615"] ) [2965] => stdClass Object ( [post_id] => 2890 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Most people lose their properties when they declare themselves bankrupt.
A few people manage to keep their homes or have purchased a home since being discharged.
You can refinance to a new lender if you have an excellent repayment history on your current home loan.
Lenders ask for statements to prove that your last six months repayments have been on time.
In many cases, your first mortgage is at a higher rate with a specialist lender and then later, we refinance your loan to a low rate with a major lender once you have a proven repayment history.
Speak with one of our specialist mortgage brokers to go over your refinancing options. Call us on 1300 889 743 or fill in our online assessment form.
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You'll simply need to provide a copy of your current contract so the banks are confident that you've been competing for some time and your income will be ongoing.
The contract should include the date of expiry.
To prove that your income is consistent, you'll also be ask to provide your most recent two years tax returns and a current payslip.
We can make the application process easy so please call us on 1300 889 743 or fill in our online enquiry form today.
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Interest rate changes can impact your mortgage repayments. Our team of mortgage experts can analyse your current mortgage, explain the potential impact of Cash Rate changes, and explore options that offer more stability. We also have a handy repayment calculator to estimate your new repayments whenever your lender changes your loan’s interest rate.
Please call us on 1300 889 743 or complete our free online assessment form today!
) [2968] => stdClass Object ( [post_id] => 98062 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Consult with mortgage brokers who specialise in mortgage assistance. They can provide personalised guidance based on your specific circumstances and help you explore alternative options or resources that may be available to you. Our dedicated team of expert mortgage brokers is ready to rescue you and help you explore the options. Call us on 1300 889 743 or complete our free online assessment form today.
) [2969] => stdClass Object ( [post_id] => 98072 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>You can get a home loan with bad credit. But it may pose some challenges. Don’t let your bad credit history hold you back. Home Loan Experts’ specialist mortgage brokers can help borrowers with complex applications get approved for a home loan. Talk to us about your situation. We will look at the options and find a lender who’s likely to approve you. Call us on 1300 889 743 or fill in our free online assessment form today!
) [2970] => stdClass Object ( [post_id] => 98087 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => A home is one of the biggest purchases you will make in your life. Lenders want to assess as much relevant information about you as possible before approving you for a loan. Home Loan Experts’ mortgage brokers can help you find the perfect solution and get approval from lenders. Speak to our award-winning mortgage brokers by calling 1300 889 743 or fill in our free online assessment form and we can help you to find out if you are eligible for a home loan today! ) [2971] => stdClass Object ( [post_id] => 98091 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => We can help! Our mortgage brokers have years of experience dealing with troubled lenders and can help you refinance to a better deal. We have a wide network of lenders who are willing to work with borrowers in different situations. Call us today on 1300 889 743 or enquire online and we’ll be happy to help you find the best refinancing option for your needs! ) [2972] => stdClass Object ( [post_id] => 98104 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>How Do I Get A Home Loan Approved With My Income?
Prove To The Lender You Can Make Repayments
Demonstrate to the lender that you have a good grasp of your financial situation.Improve Your Credit Score
A bad credit home loan will have a higher interest rate than a standard home loan. A good credit score improves your chances of approval. If your credit score is low, try to improve it before you apply for a home loan. Do not apply for more credit in the lead-up to getting a home loan.Buy What You Can Afford
It can be tempting to buy in the most popular areas. However, property prices for these suburbs are too high for most. Expand your search towards outer suburbs or even regional areas if capital cities are too expensive. Get pre-approved for a home loan, so you’ll know what you can afford.Buy With A Small Deposit
Even if you have not saved up a 20% deposit, you can still get approved for a home loan. In most cases, you have to pay Lenders Mortgage Insurance (LMI) if your deposit is less than 20%. However, there are circumstances where you don’t need to pay LMI at all. Going for low-deposit home loans is a great option to enter the property market now, instead of waiting for property prices to fall.Look Beyond Traditional Banks
Remember, the home loan products of major banks tend to have strict lending criteria. Other lenders can help if you have a low credit score, are self-employed, or earning income in a foreign currency. Tip: Take the help of a mortgage broker who has a wide range of lenders on their panel. A mortgage broker will help you get approved for the right home loan from the right lender.It’s important to note that your income is not the only factor that determines if you get approved for a home loan. Your deposit, credit score, etc are also assessed. Do not forget the costs involved when buying a home. At Home Loan Experts, our mortgage brokers are here to help every step of the way. Call us on 1300 889 743 or enquire online. ) [2973] => stdClass Object ( [post_id] => 98113 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] => Applying for your home loan through a mortgage broker makes the valuation process easier. Below are the reasons why ordering valuation through a broker is the best option available.
If you are looking for a home loan and desire a hassle-free valuation process, we are always here to help.
Contact us on 1300 889 743 or enquire online today! [wbcr_snippet id="73287"] ) [2974] => stdClass Object ( [post_id] => 98120 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Get Help From Home Loan Experts
At Home Loan Experts, our mortgage brokers can access priority services with select lenders, including major banks. This means faster turnaround times, quicker approvals, and shorter settlement periods for your home loan. Call us on 1300 889 743 or complete our free online assessment form and discover how we can get your mortgage application approved faster and get you into your new property hassle-free.
) [2975] => stdClass Object ( [post_id] => 98139 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Industrial to residential rezoning
In 2012, the Port Phillip city council adopted the Montague Precinct Structure Plan (with changes). The plan provided a framework for the renewal of the Montague precinct to allow for both industrial use and residential development. When a property has multiple zonings, this is known as a mixed use zoning. Land prices in Montague almost doubled when the changes were announced. To find out if you qualify for a mixed use property home loan, please give us a call on 1300 889 743 or you can fill in our free online assessment form.Rezoning agricultural land to residential zoning
The inclusion of agricultural land within the urban growth boundary of Melbourne raised the value of that land from below $35,000 a hectare to over $300,000 a hectare.) [2976] => stdClass Object ( [post_id] => 98149 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Not satisfied with the interest rate or fees on your loan document?
Tweaking the loan agreement is possible!
However, approvals work on a case-by-case basis and depend on what you are negotiating on.
Further negotiations, after the lenders have released an unconditional approval letter, may result in the lenders reassessing your mortgage application and releasing a new unconditional letter.
All of this adds more time to the settlement process so your solicitor should communicate this clearly to the vendor their legal team.
Of course, you're best spending the time to make sure the home loan is right for you and you're getting a fair deal.
You'll potentially be paying the mortgage for many years to come!
Call 1300 889 743 or fill in our free assessment form to speak with a mortgage mortgage broker about getting pre-approval. ) [2977] => stdClass Object ( [post_id] => 98164 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Speak to a mortgage broker and we can help you weigh up the pros and cons of loan portability.
If you're planning to move soon and aren't sure what to do about your home loan, give us a call on 1300 889 743 or complete our free assessment form.
[wbcr_snippet id="72947"] ) [2978] => stdClass Object ( [post_id] => 98169 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
Our mortgage brokers are experts in helping people with unusual ownership structures.
Call us on 1300 889 743 or fill in our free assessment form and we’ll get back to you with some options.
) [2979] => stdClass Object ( [post_id] => 98178 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>Professionally qualified and experienced mortgage brokers can help you prepare an acceptable exit strategy.
Our mortgage brokers know and understand the policies of the major lenders. They are credit specialists that know which banks have more lenient lending guidelines.
You can call us on 1300 889 743 or complete our free online assessment form and one of us will contact you to discuss your situation and loan needs.
[wbcr_snippet id="72756"] ) [2980] => stdClass Object ( [post_id] => 98183 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
A mortgage broker can help!
Call us on 1300 889 743 or fill in our free assessment form and we can provide you with a home loan health check.
[wbcr_snippet id="73156"] ) [2981] => stdClass Object ( [post_id] => 98199 [meta_key] => add_site_layouts_9_post_editor_option [meta_value] =>
If you follow these simple tips, requesting payment from your bank will be a simple, stress-free process:
Good luck with your new home from us at Home Loan Experts! If you wish to speak to someone about getting a construction loan, please call us on 1300 889 743 or complete our free assessment form and we can help you with your situation.
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